TRANSCRIPT: Fed Chair Powell Sees Policy Rate Within Range of Neutral Rate and Payrolls Now Negative
WASHINGTON (MaceNews) – The following is a rough transcript of Federal Reserve Chair Jerome Powell’s post-FOMC news conference Wednesday:
US ISM Rpt Shows a Greater-Than-Expected Improvement for the Services Economy But Hiring Still Softened in October
WASHINGTON (MaceNews) – The momentum of the dominant services sector of the economy showed improvement beyond expectations in October, at 52.4 reading after September’s 50.0 index level, but hiring had continued to soften and suggests more of that to come. The chief of the purchasing managers survey, Steve Miller, told reporters that in the context […]
FOMC STATEMENT: Qtr-Point Cut as Expected; Ends Reduction of Aggregate Securities Holdings Dec 1
WASHINGTON (MaceNews) – The following is the Federal Open Market Committee’s policy statement released Wednesday: Available indicators suggest that economic activity has been expanding at a moderate pace. Job gains have slowed this year, and the unemployment rate has edged up but remained low through August; more recent indicators are consistent with these developments. Inflation […]
Powell Cites ‘Significant Downside Risks’ To Jobs; Puts Less Emphasis On Inflation
– Can’t Ease Too Quickly, But Easing Too Slowly Would Mean ‘Painful” Job Losses By Steven K. Beckner (MaceNews) – Federal Reserve Chairman Jerome Powell avoided giving an overt signal about what the Fed will do with interest rates later this month, but clearly leaned toward greater concern about a softening labor market than about […]
Fed Officials Wrestle with Appropriate Policy Path amid Data Fog
By Steven K. Beckner (MaceNews) – As they move closer to their penultimate monetary policy meeting of the year later this month, Federal Reserve policymakers continue to give mixed signals on the path of interest rates. While there have been overt calls for additional rate cuts, and while some officials have indicated an openness to […]
NY Fed’s Williams: FOMC Has ‘Balancing Act’ Between Inflation, Employment
– Monetary Policy Still Restrictive; To Make Meeting-by-Meeting Judgment on Risks – Employment Risks Up; Inflation Pressure Lessening; Tariffs Not As Bad As Feared – Other Fed Officials More Hesitant To Cut Funds Rate Furthermore By Steven K. Beckner (MaceNews) – After cutting interest rates mid-month to guard against “undue” weakness in the labor market […]
FOMC Cuts Fed Funds Rate 25 Basis Points; Further Rate Cuts Projected
– Powell: Increased Downside Labor Risks Motivated FOMC to ‘Move Toward Neutral’ – SEP Projects 3.6% Funds Rate End ‘25; 3.4% End ‘26; 3.1% End ‘27 By Steven K. Beckner (MaceNews) – After holding its interest rate settings steady for nine months, despite growing pressure from President Trump, the Federal Reserve finally lowered them Wednesday, […]
TRANSCRIPT: Fed’s Powell Says Quarter-Point Cut ‘Risk Management’ Rather Than Reaction to Actual Jobs Deterioriation
WASHINGTON (MaceNews) – The following is a transcript of Federal Reserve Chair Jerome Powell’s post-FOMC news conference Wednesday: Recent indicators suggest that growth of economic activity has moderated. GEP rose at a pace of around one and a half percent in the first half of the year, down from 2.5 percent last year. The moderation […]
FOMC POLICY STATEMENT – As expected, with quarter-point rate cut followed by dot-plot expectations for two more this year
WASHINGTON (MaceNews) – The Federal Open Market Committee’s Wednesday policy statement: Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated. The Committee seeks to achieve maximum […]
ISM: US Services Sector Slows on Weak Demand, Soft Hiring and Rising Costs as Tariffs Begin to Bite
–ISM Services Index 50.1 Vs. 50.8 in June, 49.9 in May, Below Consensus 51.5–ISM’s Miller: Employment Index’s Continued Contraction, Faster Rise in Prices Index Worrisome–Miller: Expansion in Business Activity, New Orders Indexes Highlight Resilience of Services Sector–Miller: Firms Wary of Impact of an Expected Fed Rate Cut as Inflation Remains High By Max Sato (MaceNews) […]