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 […]
Cleveland Fed’s Mester: Fed Ready To Launch ‘FedNow’ Payments System Mid-2023
– Fed Digital Currency Further Off: Fed Studying Monetary, Other Implications By Steven K. Beckner (MaceNews) – Cleveland Federal Reserve Bank President Loretta Mester said Tuesday that the Fed will launch a new instant payments system or “FedNow” in a matter of months, but said the Fed has not yet decided whether it makes sense […]
St. Louis Fed’s Bullard: Strong Labor Market Gives Fed ‘Room to Maneuver’
– To Reduce Inflation Rates Must Rise ‘Pretty Rapidly,’ Stay ‘Higher For Longer’ – Slower Growth Raises Recession Risk In Event Of Shock; Might Require Adjustment – Once Appropriate Rate Level Reached Can Move To ‘Ordinary,” Data-Dependent Policy By Steven K. Beckner (MaceNews) – Were some “shock” to tip the U.S. economy into recession, the […]
St Louis Fed President Bullard: ‘Abrupt, Forceful’ Action Needed to Lower Inflation
Rates Will Need to Stay ‘Higher For Longer’ – ‘For Some Time’ Strong Labor Market, Other ‘Bullish Factors’ Give Fed ‘Room” To Battle Inflation Rejects ‘Bad Idea’ Of Settling for Inflation Above 2% U.S. ‘Vulnerable’ to Recession but Should Be Able To Avoid It, Barring Major Shocks By Steven K. Beckner (MaceNews) – St. Louis […]
White House and Other Schedules for Thursday, Sept 22
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. data and Federal Reserve events: COMPREHENSIVE TRIP GUIDANCE AND PRESS SCHEDULE FOR THURSDAY, SEPTEMBER 22, 2022 Thursday, September 22, 2022 In the morning, the President will host a bilateral meeting with President […]
FOMC Lifts Funds Rate 75 Basis Points, Projects More Rate Increases Before Pause
– Powell Vows ‘Quickly’ To Get To ‘Restrictive’ Stance; Stay There ‘Til Job Is Done’ – SEP Revises Rate Projections Sharply Higher: Median 4.4% End-22; 4.6% End-23 – Unemployment Projected to Rise to 4.4% Next Year As GDP Growth Slows to 1.2% By Steven K. Beckner (MaceNews) – The Federal Reserve took another momentously aggressive […]