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 […]
White House and Other Schedules for Wednesday, Dec 27
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, DECEMBER 27, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed […]
White House and Other Schedules for Friday, Dec 22
WASHINGTON (MaceNews) – The following are Friday’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: GUIDANCE AND PRESS SCHEDULE FOR FRIDAY, DECEMBER 22, 2023 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. […]
FOMC Holds Rates Steady; Indicates Funds Rate Has Peaked at 5.25-5.50%
– FOMC Retains Tightening Bias; Powell says Will Hike Rates Further If Needed – Officials Project Funds Rate Will Fall To 4.6% by End of 2024; 3.6% End 2025 – Officials Leave Longer Run Funds Rate Estimate Unchanged at 2.5% – Powell: FOMC Not Talking About Altering Quantitative Tightening By Steven K. Beckner (MaceNews) – […]
TRANSCRIPT: Fed’s Powell Said the FOMC Participants Did Discuss the ‘Next Question’ of Rate Cuts At This Meeting
WASHINGTON (MaceNews) – Federal Reserve Chair Jerome Powell Wednesday said the Federal Open Market participants did discuss rate cuts at its latest meeting and that as the inflation rate approaches the 2% target policy must become less restrictive to avoid overshooting. The transcript of his post-FOMC news conference follows: OPENING STATEMENT and Q&A:
FOMC Keeps Rates Unchanged as Expected, Retains Tightening Bias But Says Assessing Need for ‘Any’ Additional Firming
WASHINGTON (MaceNews) – The latest policy statement of the Federal Open Market Committee follows: Recent indicators suggest that growth of economic activity has slowed from its strong pace in the third quarter. Job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation has eased over […]