Fed’s Clarida: FOMC Should Consider Faster Pace of Tapering at December Meeting
By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chairman Richard Clarida said Friday that he would be open to consider accelerating the pace at which the Fed reduces its bond buying. Clarida, responding to questions after speaking to a Federal Reserve Bank of San Francisco Asia Economic Policy Conference, pointed to a combination of […]
San Fran Fed’s Daly Calls For ‘Patience’ Regarding Monetary Tightening
–Wants More ‘Clarity” Before Adjusting Taper Pace, Funds Rate –Moved Liftoff Date From 2024 to 2023; Not Sure About 2022 Given Delta –Data Too ‘Cloudy’; Tightening Policy Further Could Be ‘Costly,’’Mistake’ By Steven K. Beckner (MaceNews) – San Francisco Federal Reserve Bank President Mary Daly called Tuesday for “patience” and urged the Fed to await […]
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 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 […]
BOJ Keeps Easing Stance; Covid Risk Remains, Public Inflation Views Picking Up
By Max Sato (MaceNews) – The Bank of Japan said Thursday it is maintaining its stimulative policy, as expected, to support economic recovery from the pandemic-caused 2020 slump and continue guiding near-zero inflation toward its elusive 2% target. The central bank remains optimistic about the medium-term outlook for steady recovery following short-term weakness, but also […]
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. […]
ECB’S Lagarde Downplays Prospect of Early Eurozone Rate Hike Despite Rising Inflation
— HICP expected to top 3% in December LONDON (MaceNews) – Eurozone interest rates are likely to remain at record lows for the foreseeable future, with the recent rise inflation seen as temporary, according to European Central Bank President Christine Lagarde. “The key challenge is to ensure that we do not overreact to transitory supply shocks,” […]
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 […]