Powell: Fed Committed To 2% Goal but May Need To Do Less Given Bank Stress
– Williams Blames Demand, Shocks for Inflation – Not Past Monetary Ease – Fed Policymakers Divided on Where Funds Rate Needs To Go By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell renewed the Fed’s commitment to reducing inflation Friday, but gave no clear indication whether he thinks the central bank will need […]
Fed’s Powell Says Says Re Future Rate Hikes, No Explicit Pause, Just a Period of Assessment of Effects of Credit Tightening, Other Factors
By Denny Gulino WASHINGTON (MaceNews) – After fulfilling expectations for another rate hike of just a quarter point, Federal Reserve Chair Jerome Powell Wednesday said the FOMC did not decide on an explicit pause in future rate hikes, but is assessing the cumulative effects of those already accomplished as well as the effect of any […]
TRANSCRIPT: Fed Chair Powell’s Post-FOMC News Conference
WASHINGTON (MaceNews) – The Federal Reserve’s transcript of Wednesday’s news conference held by Fed Chair Jerome Powell following the meeting of the policy-setting Federal Open Market Committee follows:
FOMC Raises Fed Funds Another Quarter Point, Assesses Need for Further Tightening; No Hint of Future Ease
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled expectations for a 10th consecutive rate hike, this time of another quarter point, while hinting it is pausing to see whether further tightening “may” be necessary. The policy statement said the effects of anticipated credit tightening and other negative factors is still uncertain and that […]
White House and Other Schedules for Wednesday, May 3
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. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, MAY 3, 2023 In the morning, the President will receive the President’s Daily Brief. The Vice President will attend. This […]
Analysis: To Pause or Not To Pause Is Question FOMC Must Face May 3
By Steven K. Beckner (MaceNews) – To pause or not to pause may be the immediate question as the Federal Reserve rapidly approaches its May 2-3 monetary policy meeting, but ultimately the question is how much higher short-term interest rates will need to go and how long rates will need to stay high to bring […]
Fed’s Beige Bk Sees Tighter Credit, Little Change Otherwise
–Nine Districts Saw No Change or Slight Changges; Three Indicated ‘Modest Growth’ WASHINGTON (MaceNews) – The “Beige Book” survey of economic activity coast-to-coast Wednesday described a generally static picture with only three Districts suggesting modest growth while credit availability deteriorated, sometimes “sharply.” The survey, assembled by the Richmond Fed, saw consumer spending generally “flat to […]
Fed’s Waller: More Rate Hikes Needed but Bank Credit Tightening Will Help Curb Inflation
By Steven K. Beckner (MaceNews) – Federal Reserve Governor Christopher Waller said Friday that the Fed still needs to raise short-term interest rates further and leave them high for longer than many anticipate, but said tightening bank credit will likely lessen how much monetary policy will need to be tightened. Although headline inflation numbers have […]
FOMC Minutes Show Participants Chose Cautious Quarter-Point Hike Because of Then Fresh Banking Turmoil
WASHINGTON (MaceNews) – The latest Federal Open Market Committee meeting minutes, for the March 21-22 policy session, suggested that the absence of more banking turmoil at the next meeting could increase the odds of a half-point rate hike. The minutes released Wednesday “participants agreed that inflation was unacceptably high” but some of them, who favored […]
<strong>White House and Other Schedules for Thursday, March 23</strong>
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as U.S. economic data and Federal Reserve events: COMPREHENSIVE TRIP GUIDANCE FOR THRUSDAY, MARCH 23, 2023 – FRIDAY, MARCH 24, 2023 Thursday, March 23, 2023 In the morning, the President will receive the President’s Daily […]