Fed’s Kashkari: Not Ready To Say Fed Has Hiked Rates Enough To Curb Inflation
– But Says ‘Positive Signs’ Let FOMC ‘Take A Little More Time’ – Says FOMC ‘Long Way From Cutting Rates’ – Allows For Nominal Cuts at Some Point To Prevent Inadvertent Tightening of Real Rates – Warns Of Possible Bank Stress If Fed Has to Keep Raising Rates By Steven K. Beckner (MaceNews) – Minneapolis […]
FOMC Resumes Rate Hikes as Powell Hints at Higher Rates To Come
– Ups Funds Rate 25 Bp to 5.25-5.5%; ‘Extent of Additional Policy Firming’ Referenced – Powell: FOMC Could Hike Again in September or Keep ‘Steady’ Depending on Data – Powell Rules Out 2023 Rate Cuts – FOMC Repeats ‘Inflation Remains Elevated’ – FOMC Repeats Bank Credit Tightening to Weigh on Firms and Households By Steven […]
TRANSCRIPT: Fed’s Powell Post-FOMC Meeting Q&A
WASHINGTON (MaceNews) – The transcript of Federal Reserve Chair Jerome Powell’s post-FOMC meeting press conference Wednesday follows: Since early last year the FOMC has significantly tightened the stance of monetary policy. Today we took another step by raising our policy interest rate a quarter percentage point. And we are continuing to reduce our securities holdings […]
FOMC Raises Fed Funds Rate Another Quarter Point as Expected; Repeats Previous Language
WASHINGTON (MaceNews)- The Federal Open Market Committee had no surprises to offer Wednesday, fulfilling expectations for another quarter point increase in the fed funds rate, to 5.25% to 5.50%, and using well-worn phraseology to remain committed to 2% inflation. The policy statement follows: Recent indicators suggest that economic activity has been expanding at a moderate […]
White House and Other Schedules for Wednesday, July 26
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, JULY 26, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed […]
FOMC Seems Certain To Resume Rates Hikes July 26; What Comes Next Less Sure
By Steven K. Beckner (MaceNews) – Before Federal Reserve policymakers convened in mid-June, officials openly talked about wanting to “skip” raising interest rates at that Federal Open Market Committee meeting, and by all indications that’s just what the FOMC will have done. After taking a break from raising the federal funds rate at their June […]
Fed’s Daly, Mester Argue for Further Fed Rate Hikes To Reduce Inflation
– Daly: 2 Rate Hikes ‘A Very Reasonable Projection’; Could Do More or Less – Mester Urges ‘Somewhat Tighter Monetary Policy’ For ‘More Timely’ Inflation Fall – Daly: Banks Not Curbing Credit More Than Expected in Slowing Economy By Steven K. Beckner (MaceNews) – Senior Federal Reserve officials largely concurred Monday on the need for […]
FOMC Minutes See Near Unanimity on Need for Future Rate Hikes This Year But No Clues on Frequency
WASHINGTON (MaceNews) – The minutes of the most recent Federal Open Market Committee policy meeting Wednesday saw wide agreement on the need for more rate hikes this year but lacked clues on their frequency or intensity. While participants saw the balance of supply and demand improving over time, so far the progress against aggressive inflation […]
Powell Repeats Further Rate Hike Signal; Objects to ‘Pause’ Description
– Outlines Fed’s Balance Sheet Reduction Strategy By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell reaffirmed Wednesday his strong message that the Fed will be raising short-term interest rates again in all probability. Testifying on the Fed’s semi-annual Monetary Policy Report to Congress, Powell largely reiterated what he said last Wednesday after the Fed’s […]
White House and Other Schedules for Thursday, June 15
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: DAILY GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, JUNE 15, 2023 In the morning, the President will receive the President’s Daily Briefing. This meeting will be closed […]