Cleveland Fed’s Mester Sees No Funds Rate Cuts Until ‘Later in The Year’
– Allows For Sooner or Faster Rate Cuts If Needed, But Not Her Base Case By Steven K. Beckner (MaceNews) – Cleveland Federal Reserve Bank President Loretta Mester warned Tuesday that the Fed could lose its gains against inflation if it were to start cutting interest rates too soon. Advocating a “cautious” and “gradual” approach, she said she does not […]
FOMC Abandons Tightening Bias For Neutral Stance While Holding Rates Steady
– Powell: Unlikely FOMC Would Cut Rates As Soon As March Meeting- FOMC Now Speaks of ‘Any Adjustments’ To Federal Funds Rate – FOMC Advises No Rate Cuts Until Confident Inflation Sustainably On Way to 2% – FOMC: Risks ‘Moving Into Better Balance,’ But Outlook ‘Uncertain’ – FOMC Gives No Sign Ready to Dial Back […]
TRANSCRIPT: Fed’s Powell Dampens Hopes for March Rate Cut
WASHINGTON (MaceNews) – The following is a transcript of Federal Reserve Chair Jerome Powell’s news conference Wednesday, following the meeting of the Federal Open Market Committee: CHAIRMAN JEROME POWELL: Good afternoon. My colleagues and I remain squarely focus on our dual mandate to promote maximum employment and stable prices for the American people. The economy […]
FOMC Warns More Progress on Inflation Needed Before Any Rate Cuts
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday added a warning to its stand-still policy statement, saying it does not “expect” to cut rates until it has “gained greater confidence” that inflation is moving sustainably lower toward the 2% target. The statement follows: Recent indicators suggest that economic activity has been expanding at a […]
White House and Other Schedules for Wednesday, Jan 31
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. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, JANUARY 31, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In […]
Fed’s Beige Book Survey Finds Little Additional Momentum as National Economy Generally Retains Status Quo
–Five Districts Fine Price Increases ‘Subsided’ WASHINGTON (MaceNews) – The Federal Reserve’s survey of economic activity coast-to-coast Wednesday saw little significant change in the past six weeks although consumers met or exceeded expectations and some retailers were finding their profit margins squeezed by consumer sensitivity to higher prices. The survey, to be among the data […]
Fed’s Waller: More Confident FOMC Can Start Cutting Funds Rate in 2024
– Rate Cuts Should Be Done ‘Carefully and Methodically’; ‘Take Our Time’ – Exact Timing of Rate Cuts Not Crucial; Should Await More Inflation Evidence – Should Start to Think About Tapering Quantitative Tightening Later in 2024 – Shouldn’t Slow Pace of MBS Run-off By Steven K. Beckner (MaceNews) – Federal Reserve Governor Christopher Waller […]
Analysis: FOMC Minutes Suggest Gradual, Cautious Approach To 2024 Rate Cuts
By Steven K. Beckner (MaceNews) – At their final meeting of 2023, Federal Reserve officials reached a consensus that they had likely raised short-term interest rates as high as they needed to go but they were not eager to begin cutting rates as dramatically as many had hoped, minutes of the Dec. 12-13 Federal Open […]
FOMC Minutes Show Minimal Discussion of Future Rate Cuts With Any Future Hikes Data Dependent
WASHINGTON (MaceNews) – The minutes of the December Federal Open Market Committee Wednesday showed the actual discussion of any rate cuts was vanishingly scarce and that any future rate hikes, while the fed funds level was at or near its peak, would be data dependent. The portion of the minutes devoted to the views of […]
White House and Other Schedules for Wednesday, Jan 3
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. economic data and Federal Reserve events: DAILY GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, JANUARY 3, 2024 In the afternoon, the President will receive the President’s Daily Brief. This meeting in the Oval […]