TRANSCRIPT: Federal Reserve Chair Powell’s Q&A Session Following FOMC Meeting
WASHINGTON (MaceNews) – The following is the transcript of Federal Reserve Chair Jerome Powell’s Wednesday news conference following the latest Federal Open Market Committee meeting: JEROME POWELL: Price stability is the responsibility of the federal reserve and serves as the bed rock of our economy. PRESS MEMBER: Thank you. Colby Smith with the Financial Times […]
FOMC Hikes 75 BPS As Expected; Adds Language to Anticipate Stance ‘Sufficiently’ Restrictive
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday hiked the federal funds rates another 75 basis points as widely expected, adding language in the policy statement that highlights the need to reach a stance that is sufficiently restrictive allowing for lags in policy effects. The decision prompted an immediate improvement in U.S. stocks and […]
White House and Other Schedules for Wednesday, Nov 2
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, NOVEMBER 2, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the afternoon, […]
Analysis: FOMC Set for Fourth 75 BP Rate Hike But What Comes Next?
– Even After Another Big Hike Real Funds Rate Will Be Negative – Mixed Signals About How High Fed Willing to Go to Fight inflation By Steven K. Beckner (MaceNews) – The Federal Reserve will almost certainly take another fairly aggressive monetary tightening step at its Federal Open Market Committee meeting next week, but its interest rate hike […]
BofA Global Research Fund Manager Survey: Cash Levels at 2001 Highs As Investors See Economic Weakness, Consider Eventual Fed Pivot
– – Inflation is Chief Concern; Rising Fear of Systemic Credit Event By Vicki Schmelzer NEW YORK (MaceNews) – Fund managers’ cash levels rose in October to highs last seen in 2001 as investors feared economic weakness and pondered the timing of an eventual Federal Reserve policy pivot, according to the findings of Bank of […]
Fed Gov. Cook: Fed Will Keep Monetary Policy Restrictive ‘Until the Job Is Done’
– San Francisco Fed’s Daly Says Raise Rates To ‘Appropriate’ Level Then ‘Look Around’ By Steven K. Beckner (MaceNews) – Federal Reserve Governor Lisa Cook expressed a strong commitment to reducing inflation Friday, pledging to support a more restrictive monetary policy until inflation is brought down. Meanwhile, San Francisco Federal Reserve Bank President Mary Daly […]
FOMC Minutes Don’t Surprise; Riskier to Do Too Little
WASHINGTON (MaceNews) – The minutes of the latest Federal Open Market Committee meeting Wednesday largely mirrored the comments of Fed Chair Jerome Powell at the time, prompting benchmark Treasury security yields to ease as participants agreed it is riskier to tighten too little than too much. The minutes held no solace for anyone hoping for […]
Fed’s Mester: Monetary Policy ‘Not Yet Restrictive’; Needs Be So ‘For Some Time’
– Risks of Doing ‘Too Little’ Tightening Outweigh Risks of ‘Doing Too Much’ – Won’t Back Slower Tightening Pace Until She Sees Inflation Moving Down By Steven K. Beckner (MaceNews) – Despite 300 basis points of short-term interest rate hikes, monetary policy is still not restrictive, and the Federal Reserve needs to keep raising rates […]
Chicago Fed’s Evans: Fed Must Make Policy More Restrictive but Not ‘Overdo’ It
– Fed Should Look for Place to ‘Rest’ in Raising Rates By Steven K. Beckner (MaceNews) – Chicago Federal Reserve Bank President said Monday that the Fed needs to keep making monetary policy more “restrictive,” but warned against “overdoing” its interest rate increases and suggested it should look for a place to “rest” or pause […]
Fed Gov. Waller: ‘Slightly Restrictive’ Monetary Policy Needs Become More So
– Inflation Too High to Consider Pause in Rate Hikes By Steven K. Beckner (MaceNews) – Lacking “meaningful progress” against inflation and any “trade-off” between inflation and unemployment, U.S. monetary policy should move “aggressively” from “slightly restrictive” to more restrictive, Federal Reserve Governor Christopher Waller said Thursday evening. Waller, known as one of the more […]