White House and Other Schedules for Wednesday, March 6
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: GUIDANCE AND PRESS SCHEDULE FOR WEDNESDAY, MARCH 6, 2024 In the morning, the President will receive the President’s Daily Brief. This meeting will be closed press. In-Town PoolWires: […]
Preview: Bank of Canada Expected to Keep Policy Rate at 5%, Keep Close Watch on Underlying Inflation, Economic Growth
–Governing Council Focus Remains on Inflation Expectations, Wage Growth, Corporate Pricing–Governor Macklem Wants to See Clear Downward Momentum in Underlying Inflation By Max Sato (MaceNews) – The Bank of Canada is widely expected to maintain its policy interest rate — the target for overnight lending rates — at 5.0% on Wednesday for a fifth straight […]
Fed’s Logan, Waller Urge Slow, Cautious Approach to Slowing Quantitative Tightening
– Officials Also Continued to Advocate Cautious Approach to Rate Cutting By Steven K. Beckner (MaceNews) – With near unanimity, Federal Reserve officials have taken a cautious, gradual, “risk management” oriented approach to an eventual reduction of short-term interest rates, and Friday some outlined a similar viewpoint on the quantitative side of monetary policy. Neither […]
UPDATE: Fed’s Jefferson, Harker Urge Cautious Approach to Cutting Interest Rates
–Harker Q&A: Does Not See FOMC Cutting Rates as Soon as March, But Maybe in May By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chairman Philip Jefferson said Thursday that the Fed must be “careful” and “nimble” in charting the course of monetary policy in coming months, but gave no hint of when he […]
Fed’s Jefferson, Harker Urge Cautious Approach to Cutting Interest Rates
By Steven K. Beckner (MaceNews) – Federal Reserve Vice Chairman Philip Jefferson said Thursday that the Fed must be “careful” and “nimble” in charting the course of monetary policy in coming months, but gave no hint of when he thinks the Fed’s policymaking Federal Open Market Committee should start cutting short-term interest rates. Jefferson did […]
FOMC Minutes Contain No Hints of Imminent Rate Cuts; Still ‘Highly Attentive’ to Inflation Risk
WASHINGTON (MaceNews) – The minutes of the latest Federal Open Market Committee meeting released Wednesday leaned toward high rates for longer, not any imminent rate cuts or, for that matter, any rate hike. While acknowledging progress in disinflation, the FOMC participants remained “highly attentive” to inflation risk, although saying overall risks were coming into better […]
IMF: BOJ Should Consider Unwinding Monetary Easing Under Yield Curve Control Framework Now
–IMF: BOJ Then Should Gradually Raise Interest Rates–IMF Critical of Kishida Government’s ‘Untargeted’ Economic Stimulus Package By Max Sato (MaceNews) – The Bank of Japan should consider unwinding its large-scale monetary easing now by exiting the seven-year-old yield curve control framework, the International Monetary Fund said Friday, noting that easing in the past decade has […]
Cleveland Fed’s Mester Sees No Funds Rate Cuts Until ‘Later in The Year’
– Allows For Sooner or Faster Rate Cuts If Needed, But Not Her Base Case By Steven K. Beckner (MaceNews) – Cleveland Federal Reserve Bank President Loretta Mester warned Tuesday that the Fed could lose its gains against inflation if it were to start cutting interest rates too soon. Advocating a “cautious” and “gradual” approach, she said she does not […]
FOMC Abandons Tightening Bias For Neutral Stance While Holding Rates Steady
– Powell: Unlikely FOMC Would Cut Rates As Soon As March Meeting- FOMC Now Speaks of ‘Any Adjustments’ To Federal Funds Rate – FOMC Advises No Rate Cuts Until Confident Inflation Sustainably On Way to 2% – FOMC: Risks ‘Moving Into Better Balance,’ But Outlook ‘Uncertain’ – FOMC Gives No Sign Ready to Dial Back […]
TRANSCRIPT: Fed’s Powell Dampens Hopes for March Rate Cut
WASHINGTON (MaceNews) – The following is a transcript of Federal Reserve Chair Jerome Powell’s news conference Wednesday, following the meeting of the Federal Open Market Committee: CHAIRMAN JEROME POWELL: Good afternoon. My colleagues and I remain squarely focus on our dual mandate to promote maximum employment and stable prices for the American people. The economy […]