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 […]
FOMC: MINIMAL CHANGE IN OUTLOOK; STILL SEE TWO RATE CUTS THIS YEAR BUT SOMEWHAT LESS SO
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday made only minuscule adjustments to its outlook, still anticipating two rate cuts this year with slightly less enthusiasm. The Fed;s “dot plot” had seven participants seeing no rate moves this year while eight saw two rate cuts. Another two saw one rate cut. The FOMC’s economic […]
Fed Officials Still Pursuing Monetary Policy ‘Patience’ in Face of Trade Uncertainty
– Some Talk of Eventual Rate Cuts; Others More Reticent By Steven K. Beckner (MaceNews) – Federal Reserve officials have continued this week to express caution about changing monetary policy from the “moderately restrictive” stance it has been in since the Fed completed 100 basis points worth of short-term interest rate cuts in December. President […]