FOMC Keeps 4.25-4.50% Funds Rate; 2 Governors Dissent in Favor of Cut
– Governors Waller, Bowman Preferred Immediate 25 Basis Point Rate Cut – Powell: ‘More Neutral’ Policy May Be Justified If ‘Downside Risks’ To Jobs Increase – Powell: For Now ‘Moderately Restrictive’ Stance Leaves Fed ‘Well-Positioned’ By Steven K. Beckner (MaceNews) – Once again, Federal Reserve policymakers refused to lower short-term interest rates Wednesday in the […]
TRANSCRIPT: Fed’s Powell Stays Away From Promises of a September Rate Cut
.WASHINGTON (MaceNews) – The following is a rough transcript of Wednesday afternoon’s post-FOMC meeting news conference with Federal Reserve Chair Jerome Powell: Despite elevated uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment. Inflation has been running somewhat above our 2% […]
FOMC Sees Two Governors Dissent, Favoring a Quarter Point Rate Cut
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday, while keeping rates steady, saw the first double dissent in decades as Michelle Bowman and Chris Waller, as expected, favored a quarter point rate cut at this meeting. Otherwise, the policy statement made no reference to the likelihood of any future rate cut. It repeated uncertainty […]
Potential Powell Successor Warsh Urges Fed Rate Cuts, Balance Sheet Slashing, Regime Change
By Steven K. Beckner (MaceNews) – Former Federal Reserve Governor Kevin Warsh, one of the leading candidates to succeed Fed Chair Jerome Powell, urged both interest rate cuts and balance shrinkage as he virtually campaigned for Powell’s job in a television interview Thursday night. Warsh, who was a member of the Fed board of governors […]
– FOMC Vice Chair Williams: ‘Modestly Restrictive’ Policy ‘Entirely Appropriate’ – Kugler, Collins, Logan, Hammack, Daly Also Back Delaying Monetary Easing By Steven K. Beckner (MaceNews) – Unfazed by White House pressure, Federal Reserve officials have reasserted their intention to take a cautious and deliberate approach to considering additional interest rate reductions cuts this week. […]
BofA Global Research Fund Manager Survey: Investors Bullish Despite Tariff Uncertainty
By Vicki Schmelzer NEW YORK (MaceNews) – Global investors maintained a bullish bent in July despite ongoing uncertainty about tariffs, according to BofA Global Research’s monthly fund manager survey, released Tuesday. A net 31% of those polled this month looked for a weaker global economy in the coming months. This compared to a net 46% […]
Atlanta Fed’s Bostic Urges ‘Patience’ On Lowering Interest Rates
– Time of Great Uncertainty ‘No Time for Significant Shifts in Monetary Policy’ – Labor Market ‘Broadly Healthy’ But Deterioration Could Change Policy Prescription By Steven K. Beckner (MaceNews) – Atlanta Federal Reserve Bank President Raphael Bostic called Thursday for “patience” in considering reductions in interest rates. Bostic, who has previously projected just a single […]
Fed’s Powell Allows For Rate Cuts ‘Sooner Rather Than Later” – If Inflation Behaves
– Repeats FOMC Can Afford to Wait and Be Careful Amid Great Uncertainty – Says FOMC Must Be ‘Careful”; Doesn’t Need To Be ‘In Any Rush’ By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell reiterated his belief that the Fed can afford to wait for more evidence on inflation and labor market […]
FOMC Holds Funds Rate Steady; Projects Two Rate Cuts in 2025; Fewer After 2025
– Powell: Fed ‘Well-positioned’ To Await Data on Tariff Inflation Impact By Steven K. Beckner (MaceNews) – Despite heavy pressure from President Trump to lower interest rates, the Federal Reserve left them unchanged Wednesday, as expected, and Fed officials gave Trump little encouragement for future rate cuts in the near term. Participants of the Fed’s […]
TRANSCRIPT: Fed’s Powell Q&A – Expect Higher Inflation Ahead But Don’t Know How Much, How Long
WASHINGTON (MaceNews) – The following is a transcript of Federal Reserve Chair Jerome Powell’s post-FOMC news conference: Inflation has come down a great deal, but has been running somewhat above our 2% longer-run objective. In support of our goals, today the open market committee decided to leave our policy interest rate unchanged. We believe that […]