3 Fed District Presidents Argue FOMC Needed to Raise Rates Now to Bring Down Inflation
– Modest Tightening Now Would Avoid Having to Move Aggressively Later, Kashjari and Logan Argue By Steven K. Beckner (MaceNews) – The three Federal Reserve bank presidents who voted against the Federal Open Market Committee’s Wednesday decision to leave short-term interest rates unchanged defended their actions Friday. The three dissenters — Cleveland’s Beth Hammack, Minneapolis’s […]
Divided FOMC Holds Rates Steady but Warsh Says That’s Not The End of the Story’
– Warsh Welcomes Rising Bond Yields as Aiding Fed Inflation Fight – Warsh Downplays Dissents; Says Committee United on ‘Delivering’ 2% Inflation By Steven K. Beckner (MaceNews) – The Federal Reserve’s policymaking Federal Open Market Committee left short-term interest rates unchanged Wednesday for the fifth straight meeting, but the Fed’s rate-setting body was sharply divided, […]
TRANSCRIPT: Fed’s Warsh Says Fed’s Work Advancing, Grappling with ‘Hard Questions;’ Despite Three Dissents, Fundamental Agreement
WASHINGTON (MaceNews) – The following is a rough transcript of Federal Reserve Chair Kevin Warsh’s answers to reporters’ questions after the Federal Open Market Committee’s policy statement showed three rate-hike dissents to the stand-pat central bank stance: > Chair Warsh: Good day. My second FOMC Committee meeting as Chairman has come quickly. It’s probably too […]
FOMC TEXT: No Rate Change with Three Dissents In Favor of a Rate Hike
WASHINGTON (MaceNews) – The following is the text of the Federal Open Market Committee policy statement issued a short time ago Wednesday afternoon:The Federal Open Market Committee approved the following statement for release by a 9 – 3 vote: The Federal Open Market Committee approved the following statement for release by a 9 – 3 […]
Warsh to Congress: Fed ‘Will Deliver” 2% Inflation, Given ‘Solid’ GDP, ‘Stable’ Job Market
– Downplays Soft CPI Report As ‘One Data Point’; Mustn’t ‘Cherry Pick’ – Balance Sheet Should Be Used Only in Crisis; Interest Rates Should Predominate – Refuses To Give ‘Forward Guidance’ On What FOMC Will Do with Rates By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Kevin Warsh stressed again Tuesday that the Fed’s […]
Fed’s Waller: Another ‘Hot’ Core Inflation Reading May Force ‘Near Term’ Rate Hike
– Inflation And Monetary Policy Are ‘At A Crossroads’ – Economy Solid’, Employment ‘Stable’; So, Focus Must Be on 2% Inflation Target By Steven K. Beckner (MaceNews) – On the eve of a critical inflation report, Federal Reserve Governor Christopher Waller declared Monday that a bad reading could necessitate an early Fed interest rate hike. […]
FOMC Minutes: Alternative Scenarios Showed Potential Rate Hikes Or Cuts
– Most Agree ‘Some Policy Firming’ Needed if Inflation Elevated, Employment Stable – ‘Almost All’ Agree Cut Rates ‘Eventually’ if Inflation ‘Dissipates,’ Returns to 2% – ‘A Few’ Made Case For Rate Hike, But Not Immediately By Steven K. Beckner (MaceNews) – With Kevin Warsh chairing the Federal Open Market Committee for the first time […]
The ‘Maestro’ Knew How to Move Markets When He Wanted
By Denny Gulino WASHINGTON (MaceNews) – For any reporter covering Alan Greenspan there was a reliable imperative, read the text of his latest speech very closely because there was likely a zinger in there, a sentence that he intended to be the quote of the day, whether “irrational exuberance” or the ‘winner-take-all economy.” It was […]
FOMC Holds Rates Steady; Drops Easing Bias By Ending Forward Guidance
— SEP Shows Fed Officials See Funds Rate Rising To 3.8% By End ‘26; Back to 3.6% end ’27 – -SEP Inflation Forecast Lifted for 2026 From 2.7% to 3.6% — Warsh Didn’t Submit Funds Rate Dot; Half Want Rate Same or Lower; Half Want Rate Hike – -Warsh Committed To 2% Inflation; ‘Compatible’ With […]
ABBREVIATED FOMC STATEMENT CONTAINS NO FORWARD GUIDANCE
WASHINGTON (MaceNews) – The drastically abbreviated Federal Open Market policy statement follows, containing no forward guidance, no dissents, no rate change and which drops easing bias, as expected: The Federal Open Market Committee approved the following statement for release by a 12 – 0 vote: The Committee decided to maintain the target range for the […]