FOMC Lifts Funds Rate By 50 Bp; More to Come but Path Remains In Doubt
– Powell Says 50 BP Hikes Will Be “On Table” Next Two FOMC Meetings – 75 BP Hike Not Under Consideration – Will Need to Be ‘Nimble’ Given Uncertain, Changing Outlook – Quick-paced Balance Sheet Reduction To Begin June 1 By Steven K. Beckner (MaceNews) – Federal Reserve policymakers not only continued raising short-term interest […]
Text of Fed Statement on Plans to Reduce Balance Sheet, Starting June 1
Consistent with the Principles for Reducing the Size of the Federal Reserve’s Balance Sheet that were issued in January 2022, all Committee participants agreed to the following plans for significantly reducing the Federal Reserve’s securities holdings. The Committee intends to reduce the Federal Reserve’s securities holdings over time in a predictable manner primarily by adjusting […]
Text of FOMC Policy Announcement May 4, 2022
Although overall economic activity edged down in the first quarter, household spending and business fixed investment remained strong. Job gains have been robust in recent months, and the unemployment rate has declined substantially. Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures. The invasion of […]
ISM: US April Service Sector Growth Slows as Firms Struggle to Find Workers, Supplies
–ISM’s Nieves: Securing Workers Ongoing Issue, Now Spread Across Industries –ISM: Supply Delivery Delays Worsen Again After Slight Improvement in March –ISM: New Orders Index Dips to 14-Month Low; Prices Index Hits Record High By Max Sato (MaceNews) – US service sector growth slowed in April on wide-spread labor shortages after the first uptick in […]