<strong>FOMC Minutes Show Consensus on Tightening to Reduce Inflation</strong>
– But Need For ‘Risk Management,’ Avoiding Overtightening Cited – Officials Anxious to Avoid Perception of Less Anti-Inflation Commitment to By Steven K. Beckner (MaceNews) – At their final monetary policy meeting of 2022, Federal Reserve officials were together in their commitment to reducing inflation in the year ahead, but somewhat less united on how […]
FOMC Minutes Reflect Undimmed Dedication to Quenching Inflation Regardless of Slow Growth Consequences
WASHINGTON (MaceNews) – Federal Open Market Committee policymakers agreed on maintaining anti-inflation momentum with a continuing tolerance for any economic slowdown that may result this year without any premature easing. The Fed staff told the committee anticipated this year will see growth “slow markedly” and that GDP growth will be “subdued” through 2025. “No participants […]
US ISM Manufacturing Index Slips Further in December, Indicating Overall Economic Contraction
–ISM’s Fiore: December Decline Not So Steep; in Adjustment Phase –Fiore: Index Still in 48 to 52 Range but May Fall Below Floor –Fiore Repeats His Outlook: ‘Sluggish’ 1st Half 2023; ‘Pretty Strong’ 2nd Half –Fiore: Manufacturing Sector Does Not Rely Much on International Markets, Hit by Soft Domestic Demand By Max Sato (MaceNews) – […]
Minneapolis Fed’s Kashkari: Pause Rate Hikes at 5.4%; Consider Cutting If Inflation Falls
By Steven K. Beckner (MaceNews) – Minneapolis Federal Reserve Bank President Neel Kashkari laid out a roadmap for monetary policy Wednesday that calls for a pause in interest rate hikes, followed by rate cuts, but not until the federal funds rate reaches 5.4%. Kashkari, who will be voting on the Fed’s policy-making Federal Open Market […]
<strong>White House and Other Schedules for Wednesday, Jan 4</strong>
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, JANUARY 4, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. Later, the President […]