FOMC Set to Keep Ratcheting Rates Higher Despite Worries About ‘Oversteering’
By Steven K. Beckner (MaceNews) – Since raising short-term interest rates more aggressively in mid-June, misgivings have cropped up among Federal Reserve officials about raising rates too far, too fast, but such sentiments must contend with worsening inflation news that has made it all the more imperative in most minds to demonstrate the central bank’s […]
FED’S BEIGE BK: ‘CONCERNS OVER AN INCREASED RISK OF RECESSION’
WASHINGTON (MaceNews) – The normally bland Beige Book survey of economic activity coast-to-coast included some dark clouds of pessimism in its latest iteration Wednesday, seeing increased risks of recession and “growing signs of a slowdown in demand.” The survey, for review at the next Federal Open Market Committee meeting toward the end of the month, […]
Fed’s George: Fed Must ‘Act Decisively’ Vs. Inflation, But Not Too Fast
– Case for Tightening ‘Clear-Cut’ But Speed ‘An Open Question’ – Hiking Rates Too Fast Could Create ‘Strains,’ Increase Recession Risks – Warns of Inverting Yield Curve, Upsetting Markets While Shrinking Balance Sheet – Urges More ‘Steady’ And ‘Predictable’ Rate Hikes By Steven K. Beckner (MaceNews) – Kansas City Federal Reserve Bank President Esther George […]
FOMC Minutes: Fed Officials Leaned Toward More Tightening Despite Downside Risks
– 50-75 BP Hike in July Envisioned – Policy Might Need to Become ‘Even More Restrictive” than Anticipated By Steven K. Beckner (MaceNews) – Federal Reserve officials tilted toward a more restrictive monetary policy at their mid-June Federal Open Market Committee meeting despite signs of a slowing economy, minutes released Wednesday reveal. Not only did […]
<strong>Powell: Rates Must Rise To “Restrictive” Levels to Curb Demand, Inflation</strong>
– Still Hopes For ‘Soft Landing’ but Achieving It ‘More Challenging’ By Steven K. Beckner (MaceNews) – Federal Reserve Chair Jerome Powell said Wednesday that he and his fellow monetary policy-makers must continue to raise short-term interest rates into “restrictive” territory to validate financial market expectations and successfully fight inflation. Powell, testifying on the Fed’s […]
White House and Other Schedules for Wednesday, June 22
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, JUNE 22, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the afternoon, […]
White House and Other Schedules for Thursday, June 16
WASHINGTON (MaceNews) – The following are Thursday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORTHURSDAY, JUNE 16, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the afternoon, […]
<strong><br>FOMC Lifts Funds Rate 75 BPs; Signals More Rate Increases To Curb Inflation</strong>
– Powell Signals Rate Hikes in July and Beyond; 50 Most Likely In July – Dot Plot Projects Elevated Funds Rate Amid Worse Inflation, Slower GDP, More Jobless – Officials See Funds Rate at 3.4% End 2022; 3.8% End 2023; 3.4% End 2024 – ‘Neutral’ Rate Revised Up, But Only by A Tenth By Steven K. Beckner (MaceNews) – Federal […]
White House and Other Schedules for Wednesday, June 15
WASHINGTON (MaceNews) – The following are Wednesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORWEDNESDAY, JUNE 15, 2022 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In the afternoon, […]
White House and Other Schedules for Tuesday, June 14
WASHINGTON (MaceNews) – The following are Tuesday’s schedules for the White House, Treasury, USTR, the State Department and Capitol Hill as well as US data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FORTUESDAY, JUNE 14, 2022 In the morning, the President will travel to Philadelphia, Pennsylvania. The departure from the South Lawn will be open […]