Japan Week Ahead: Markets Seek Hints from BOJ Deputy Governor Himino’s Speech on Board Concerns About Upside Inflation Risks amid Weak Q2 GDP Growth
By Max Sato (MaceNews) – Market participants are looking for any clues to whether the Bank of Japan board is getting closer to raising interest rates further in September, instead of waiting until October, when the board updates its economic projections and risk analysis in the quarterly Outlook Report. BOJ Governor Kazuo Ueda clearly indicated […]
Fed Officials Proceed Cautiously Ahead of September FOMC Meeting, Jackson Hole
By Steven K. Beckner (MaceNews) – Federal Reserve officials generally agree on the need to lower inflation, but they take divergent positions on what path monetary policy needs to take in the near term to achieve that, and on how quickly the Fed needs to take action. There was considerable support for higher interest rates […]
Fed Officials United On Need To Reduce Inflation; Differ on How, When
– Some Ready To Tighten; Others Hoping for More Disinflation Evidence – Alternative Policy Scenarios for Curbing Inflation Being Assessed By Steven K. Beckner (MaceNews) – The week after a hotly debated Federal Open Market Committee decision to hold short-term interest rates steady has brought comments from multiple Federal Reserve officials suggesting that the Fed’s […]
3 Fed District Presidents Argue FOMC Needed to Raise Rates Now to Bring Down Inflation
– Modest Tightening Now Would Avoid Having to Move Aggressively Later, Kashjari and Logan Argue By Steven K. Beckner (MaceNews) – The three Federal Reserve bank presidents who voted against the Federal Open Market Committee’s Wednesday decision to leave short-term interest rates unchanged defended their actions Friday. The three dissenters — Cleveland’s Beth Hammack, Minneapolis’s […]
Divided FOMC Holds Rates Steady but Warsh Says That’s Not The End of the Story’
– Warsh Welcomes Rising Bond Yields as Aiding Fed Inflation Fight – Warsh Downplays Dissents; Says Committee United on ‘Delivering’ 2% Inflation By Steven K. Beckner (MaceNews) – The Federal Reserve’s policymaking Federal Open Market Committee left short-term interest rates unchanged Wednesday for the fifth straight meeting, but the Fed’s rate-setting body was sharply divided, […]
TRANSCRIPT: Fed’s Warsh Says Fed’s Work Advancing, Grappling with ‘Hard Questions;’ Despite Three Dissents, Fundamental Agreement
WASHINGTON (MaceNews) – The following is a rough transcript of Federal Reserve Chair Kevin Warsh’s answers to reporters’ questions after the Federal Open Market Committee’s policy statement showed three rate-hike dissents to the stand-pat central bank stance: > Chair Warsh: Good day. My second FOMC Committee meeting as Chairman has come quickly. It’s probably too […]
FOMC TEXT: No Rate Change with Three Dissents In Favor of a Rate Hike
WASHINGTON (MaceNews) – The following is the text of the Federal Open Market Committee policy statement issued a short time ago Wednesday afternoon:The Federal Open Market Committee approved the following statement for release by a 9 – 3 vote: The Federal Open Market Committee approved the following statement for release by a 9 – 3 […]
Japan Week Ahead: BOJ on Hold Amid Mideast Conflict, US Trade Uncertainty, While Pointing to Need to Raise Policy Rate Further to Neutral Level
–July Tokyo CPI Seen Ticking Up Closer to BOJ’s 2% Target as Iran War Has Boosted Prices, Import Costs High on Yen’s Slide to Nearly Four-Decade Low–June Factory Output to Pose 3rd Straight Rise amid Global Demand for Computer Chips, Non-Ferrous Metals, Easing Impact of US Tariffs on Autos By Max Sato (MaceNews) – The […]
Warsh to Congress: Fed ‘Will Deliver” 2% Inflation, Given ‘Solid’ GDP, ‘Stable’ Job Market
– Downplays Soft CPI Report As ‘One Data Point’; Mustn’t ‘Cherry Pick’ – Balance Sheet Should Be Used Only in Crisis; Interest Rates Should Predominate – Refuses To Give ‘Forward Guidance’ On What FOMC Will Do with Rates By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Kevin Warsh stressed again Tuesday that the Fed’s […]
Fed’s Waller: Another ‘Hot’ Core Inflation Reading May Force ‘Near Term’ Rate Hike
– Inflation And Monetary Policy Are ‘At A Crossroads’ – Economy Solid’, Employment ‘Stable’; So, Focus Must Be on 2% Inflation Target By Steven K. Beckner (MaceNews) – On the eve of a critical inflation report, Federal Reserve Governor Christopher Waller declared Monday that a bad reading could necessitate an early Fed interest rate hike. […]