<strong>FOMC Raises Funds Rate 25 BP; Sees ‘Ongoing’ Rate Hikes</strong>
– Powell Welcomes ‘Disinflation’ but Says Fed Has More Work To Do – Doesn’t See Rate Cuts This Year; Sees at Least ‘A Couple More’ Hikes – Rates Likely Need to Stay ‘Higher For Longer’ To Get Inflation to 2% – Not Yet Seeing Disinflation in Core Services Ex-Housing By Steven K. Beckner (MaceNews) – […]
TRANSCRIPT: Fed Powell’s News Conference
WASHINGTON (MaceNews) – The following is the transcript provided by the Federal Reserve of Fed Chair Jerome Powell’s post-FOMC news conference Wednesday:
FOMC Leaves ‘Ongoing Increases’ Appropriate in Statement on Quarter Point Hike
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday raises the federal funds rate by a quarter point to as high as 4.75% as expected, signaling it’s series of tightening moves is not yet complete. The policy statement repeated the key sentence, “The Committee anticipates that ongoing increases in the target range will be appropriate […]
Analysis: Odds Mount For 25 BP Rate Hike at Feb. 1 FOMC Meeting
By Steven K. Beckner (MaceNews) – As the Federal Reserve gets set to kick off its first monetary policy deliberations of 2023, it’s almost a foregone conclusion that Chair Jerome Powell and his colleagues will keep raising short-term interest rates, but speculation has been mounting for weeks that the Fed will further decelerate monetary tightening. […]
<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 […]
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 […]
<strong>FOMC Hikes Funds Rate 50 BP to 4.25-4.50%; ‘Ongoing Increases’ Foreseen</strong>
– Powell Stresses Fed Commitment Tt Lower Inflation Despite Slower Pace ……. – Officials Raise 2023 Funds Rate Projection to Median 5.1%, Up From 4.6% – Officials Also Revise Up Inflation, Unemployment Forecasts; Revise GDP Growth Down By Steven K. Beckner (MaceNews) – The Federal Reserve closed out an eventful year with a seventh straight […]
TRANSCRIPT: Fed’s Powell Answers Reporters’ Questions after FOMC Decision
WASHINGTON (MaceNews) – The following is the Federal Reserve’s transcript of Fed Chair Jerome Powell’s news conference Wednesday, which followed the Federal Open Market Committee police statement: OPENING STATEMENT IN PROGRESS: substantially more evidence to give confidence that inflation is on a sustained downward path. Price pressures remain evident across a broad range of […]