FOMC Minutes Show a Few Participants Wanted a 50 BPS Hike
WASHINGTON (MaceNews) – The Federal Open Market Committee meeting that ended at the beginning of the month had wide – but not unanimous – agreement on a quarter-point rate hike with a “few” more impatient, wanting to get to the terminal rate sooner with a half-point increase, the minutes of the meeting showed Wednesday. That […]
<strong>Phil Fed’s Harker: Fed ‘Not Done Yet’ Raising Rates ‘But Likely Close’</strong>
– Should Keep Raising Funds Rate in 25 Bp Steps to Over 5%; Nor Sure How High – Will Get To Point in ‘23 When Rates ‘Restrictive Enough’ – FOMC Should ‘Proceed Cautiously’ Because Also Shrinking Balance Sheet – Sees Inflation Progress Despite CPI, But ‘Going to Take Time’ By Steven K. Beckner (MaceNews) – […]
BofA Global Research Fund Manager Survey: Recession Concerns Lowest Since June 2022
— Big Jump in Emerging Market Equity Holdings By Vicki Schmelzer NEW YORK (MaceNews) – Global investors polled in February were decidedly less fearful of recession and more upbeat about world growth, but were taking a wait-and-see attitude towards inflation, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. More […]
<strong>Japan Q4 Modest GDP Growth Led by Net Export Rise after Service Import Surge Caused Q3 Contraction</strong>
–Q4 GDP Rise Smaller Than Expected as Private Inventories Drop Sharply –Consumption Up on Eased Covid Rules, Travel Subsidies After Flat Growth in Q3 –Capex Posts Pullback as Expected but Potential Demand for Investments Solid –Q1 GDP Seen Supported by Consumption Amid Slowing Global Demand By Max Sato (MaceNews) – Japan’s gross domestic product for […]
<strong>Analysis: Japan PM Kishida Seeking Monetary Policy Balance Between Continuity and Gradual Shift from Abenomics</strong>
–Reports Say Kishida Picks Academic Kazuo Ueda to Succeed Kuroda By Max Sato (MaceNews) – Japanese Prime Minister Fumio Kishida appears to have picked an academic candidate with some policymaking experience to replace retiring Bank of Japan Governor Haruhiko Kuroda in a surprise choice that could prompt a gradual departure from the decade-old reflationary Abenomics […]
<strong>Japan January Producer Inflation Eases to Below 10% as Fuels, Lumber Prices Drop, Firmer Yen Lowers Import Costs</strong>
–Upwardly Revised +10.5% Y/Y in December 2022 Now 42-Year High By Max Sato (MaceNews) – Producer inflation in Japan eased in January as energy and commodity markets turned softer on slowing global demand and the recent rebound in the yen helped lower import costs, but the annual rate just under 10% indicates firms are still […]
<strong>Fed Policymakers Point Toward Possibly Higher Rates Than Previously Thought</strong>
By Steven K. Beckner (MaceNews) – Federal Reserve policymakers expressed a determination Wednesday to keep raising interest rates to combat inflation – possibly higher than previously projected. New York Federal Reserve Bank President John Williams said that, for now, a 25 basis point pace of rate hikes is appropriate, and he said rate cuts could […]
<strong>FOMC Raises Funds Rate 25 BP; Sees ‘Ongoing’ Rate Hikes</strong>
– Powell Welcomes ‘Disinflation’ but Says Fed Has More Work To Do – Doesn’t See Rate Cuts This Year; Sees at Least ‘A Couple More’ Hikes – Rates Likely Need to Stay ‘Higher For Longer’ To Get Inflation to 2% – Not Yet Seeing Disinflation in Core Services Ex-Housing By Steven K. Beckner (MaceNews) – […]
TRANSCRIPT: Fed Powell’s News Conference
WASHINGTON (MaceNews) – The following is the transcript provided by the Federal Reserve of Fed Chair Jerome Powell’s post-FOMC news conference Wednesday:
FOMC Leaves ‘Ongoing Increases’ Appropriate in Statement on Quarter Point Hike
WASHINGTON (MaceNews) – The Federal Open Market Committee Wednesday raises the federal funds rate by a quarter point to as high as 4.75% as expected, signaling it’s series of tightening moves is not yet complete. The policy statement repeated the key sentence, “The Committee anticipates that ongoing increases in the target range will be appropriate […]