FOMC Minutes: Officials Eyed ‘Downside’ Growth Risks, ‘Upside’ Inflation Risks
– Policy Focus Remained on Curbing Inflation, But ‘Many’ Warned of Overdoing It – No Clear Signal from Minutes On Size of Sept. 21 Rate Hike By Steven K. Beckner (MaceNews) – Federal Reserve officials continued to tilt toward a tighter monetary policy at their late July Federal Open Market Committee meeting, but while they […]
White House and Other Schedules for Friday, Aug 12
WASHINGTON (MaceNews) – The following are Friday’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 SCHEDULEFOR FRIDAY, AUGUST 12, 2022 The President, vacationing at Kiawah Island, South Carolina, has no public events scheduled Out-of-Town Pool Wires: AP, Reuters, BloombergWire Photos: AP, […]
US CPI Boosts Hopes Inflation Trajectory Has Improved
–July CPI Unchanged; Core +0.3% By Denny Gulino WASHINGTON (MaceNews) – The welcome way the latest Consumer Price Index came in below expectations Wednesday reinforced hopes the trajectory of high consumer inflation has finally improved. The July report’s headline number, the one that most influences inflation expectations, was unchanged, the lowest reading for any month […]
Analysis: Fed Officials Shift Messaging as Markets Swing
By Steven K. Beckner (MaceNews) – After the Federal Reserve’s policymaking Federal Open Market Committee raised short-term interest rates for a fourth straight meeting on July 27, Chairman Jerome Powell said that, henceforth, he and the FOMC intended to forego further “forward guidance” on the probable pace of rate hikes. Instead, he said, they would go “meeting by meeting” and assess the incoming data before deciding what the […]
FOMC Lifts Funds Rate Another 75 Bp to Near ‘Neutral’ 2.25-2.50% Range
– Powell Signals More Hikes to Come but Unclear About Pace, Level – Powell Repeats Fed Needs ‘Compelling Evidence’ Inflation Heading To 2% Target – Amid Slowing, Powell Cites Risk of ‘Doing Too Much’ Or ‘Too Little’ Tightening – Powell Repeats Need ‘Moderately Restrictive’ 3-3.5% Funds Rate Range End-22 By Steven K. Beckner (MaceNews) – […]
FOMC Hikes By 0.75 Pt As Expected; Bare-Bones Statement Cites Elevated Inflation
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday did the expected, a three-quarter point rate hike which brings monetary policy to the brink of tightening instead of simply removing accommodation. In a bare-bones statement, the FOMC saw spending and production “softened” along with still-robust job gains and elevated inflation. “The Committee is highly attentive […]
White House and Other Schedules for Wednesday, July 27
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, JULY 27, 2022 In the morning, the President will receive the President’s Daily Brief virtually. This meeting will be closed press. In-Town […]
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 […]