KC Fed’s George Questions Whether Fed Should Be ‘Patient” About Inflation
— “The argument for patience in the face of these inflation pressures has diminished.” By Steven K. Beckner(MaceNews) – — “The argument for patience in the face of these inflation pressures has diminished.” (MaceNews) – Kansas City Federal Reserve Bank President Esther George appeared to challenge Fed Chairman Jerome Powell’s recently enunciated premise that the […]
FOMC: Tapering of Bond Buying to Start Later This Month, Continue in December
– Fed To Cut Treasury Securities By $10 Billion; MBS $5 Billion Per Month – Powell: Tapering Apt to End Mid-2022, but Adjustable Depending on Conditions – FOMC Still ‘Expects’ Inflation To Be ‘Transitory,’ but Powell More Worried – Powell Says ‘Won’t Hesitate’ To Raise Rates to Counter Inflation if Needed By Steven K. Beckner […]
FOMC: Tapering to Begin This Month at the Expected Pace
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday fulfilled expectations that tapering will get underway, starting the process this month while making no reference to the timeline of eventual liftoff other than the usual goals of maximum employment and 2% inflation. The policy announcement follows: With progress on vaccinations and strong policy support, indicators […]
FOMC Set To Taper In November Amid Mounting Inflation Worries
– Pace of Tapering Adjustable; Funds Rate Liftoff Timing Uncertain By Steven K. Beckner (MaceNews) – The fateful moment is nearly upon us – when the Federal Reserve at last starts trimming the aggressive bond buying it’s been doing to support a pandemic-weakened but rapidly recovering economy. Having prepared financial markets as much as it […]
Fed’s Beige Book Sees ‘Significantly Elevated Prices’
WASHINGTON (MaceNews) – The Federal Reserve’s survey of economic conditions coast to coast Wednesday found “significantly elevated prices” and some regional Fed districts in which growth slowed, hampered by labor shortages, supply disruptions and, of course, the Delta variant. Auto sales declined and some districts “noted increased uncertainty and more cautious optimism than in previous […]
<strong>Minutes Show FOMC Preparing Taper Amid Fear of Upside Inflation Risks</strong>
Taper Could Start Soon as Mid-November, End Mid-2022, Assuming More Progress FOMC Liked Staff Plan to Cut MBS $5 Billion, Treasuries $10 Billion Per Month By Steven K. Beckner (MaceNews) – Federal Reserve officials expressed heightened concern about inflation along with greater satisfaction with labor market improvements at the Sept. 21-22 meeting of the Fed’s […]
Dallas Fed’s Kaplan, Boston’s Rosengren Departures Leaves Many Questions So Far Unanswered
By Denny Gulino WASHINGTON (MaceNews) – New rules goverinng how Federal Reserve officials handle their personal finances are now imminent as the Fed tries to get them in place before Congress imposes new rules of its own and meanwhile questions abound as to how the case of the Dallas regional bank president has been handled. […]
NY Fed’s Williams: Taper ‘May Soon Be Warranted’ If Progress Continues
– If Start Taper Soon, Can Be ‘Smooth,’ Not Disruptive – Ending Taper By Mid-2022 ‘Reasonable’ – Inflation Test Met; ‘Lot of Progress’ Made On Employment – FOMC Shouldn’t Lift Off Too Soon; Want To Achieve Maximum Employment By Steven K. Beckner (MaceNews) – New York Federal Reserve Bank President John Williams strongly suggested he […]
2022 FOMC Voters George, Mester Agree Time To Start Tapering
Mester Sees Liftoff ‘By End Of Next Year’; Worse Inflation May Mean More George Wants to Raise Rates ‘Sooner Rather Than Later’ George Cites Financial Stability Risks As Key FOMC Concern By Steven K. Beckner (MaceNews) – Kansas City Federal Reserve Bank President Esther George and Cleveland Fed President Loretta Mester agreed Friday the time […]
FOMC: Tapering ‘May Soon Be Warranted’ If Progress Continues
Half of FOMC Participants Now See Funds Rate Hike By End 2022 Powell Says FOMC Could Announce Bond Buying Cuts At Nov. 2-3 Meeting Powell Says Inflation Test More Than Met; Employment Goal ‘All But Met’ By Steven K. Beckner (MaceNews) – The Federal Reserve took another incremental but very significant step toward making monetary […]