San Francisco Federal Reserve President Mary Daly said on Monday the real-world impact of the U.S. central bank’s interest rate hikes is likely greater than what its short-term rate target implies. Against the Fed’s current short-term target rate of between 3.75 percent and 4.00 percent , Daly said some researchers have found “the level of…
Real Impact of Fed Hikes Likely Bigger Than What Target Rate Implies, Daly Says
Fed Officials See US Interest Rates Rising Further
U.S. Federal Reserve officials on Tuesday reiterated their support for further interest-rate hikes to quell inflation, with the influential chief of the New York Fed saying the central bank will likely need to get its policy rate “somewhat above” 3.5 percent and keep it there through the end of 2023. “I see us needing to…
Fed’s George Says Pace, Endpoint of Rate Hikes Still Matter of Debate
The recent easing of U.S. financial conditions, including a surge in stock prices, may have been based on an overly optimistic sense that inflation was peaking and the pace of interest rate increases was likely to slow, Kansas City Federal Reserve President Esther George said on Thursday. In comments to a Kansas City economic group,…
Fed’s Waller Supports 50 BPS Rate Hikes for ‘Several’ Meetings
The U.S. Federal Reserve should raise interest rates by a half percentage point each time at more than its next two meetings, Fed Governor Christopher Waller said on Monday, underscoring tensions at the central bank about how aggressively to tighten policy as it battles to bring down high inflation. “I support tightening policy by another…
Fed’s Daly: Being Too Aggressive on Rate Hikes Could Be Destabilizing
Being too “abrupt and aggressive” with interest rate increases could be counter-productive to the Federal Reserve’s goals, San Francisco Federal Reserve Bank President Mary Daly said on Sunday, signaling she is not yet prepared to come out of the gate with a half-percentage-point interest rate hike next month. “So I look at the data, and…
Fed’s Bullard Sees Three Successive Hikes to Start Policy Tightening
St. Louis Federal Reserve President James Bullard on Tuesday said he favors starting the turn to tighter U.S. monetary policy with successive rate increases at the Fed’s March, May, and June meetings, before assessing whether the pace of inflation requires more aggressive steps from there. But he pushed back against the idea of kicking off…
World Stocks Retreat as Inflation Augurs Fed Rate Hikes
BANGKOK—Shares were mostly lower in Asia on Thursday after the latest report of surging prices in the U.S. appeared to keep the Federal Reserve on track to raise interest rates in the coming months. London, Paris, Tokyo, and Shanghai were lower while Sydney and Hong Kong advanced. Surging coronavirus cases have been raising uncertainty about…
Fed’s Barkin Says More Data Needed Before Rate Hikes Are Appropriate
Richmond Federal Reserve President Tom Barkin on Thursday said the U.S. central bank has cleared a path for what he hopes to be a “seamless” start to a reduction in its support for the economy, but that it will take more time to determine when interest rate hikes will be appropriate. “We still have a…
Hungary PM Orban Flags Further Wage Hikes Ahead of 2022 Election
BUDAPEST—Hungary will raise nurses’ salaries by 21 percent from January and plans to lift the monthly minimum wage to 200,000 forints ($644), Prime Minister Viktor Orban told state radio on Friday. Orban, who faces elections next year, said talks on the minimum wage hike were still underway. The government will cut taxes for businesses if…
Exclusive: Bank of Mexico Deputy Governor Sees More Rate Hikes Coming
October 5, 2021
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MEXICO CITY—The Bank of Mexico’s cycle of interest rate hikes is not yet over and one or two more increases are likely amid concerns about inflation, though any monetary policy moves will depend on incoming data, Bank of Mexico Deputy Governor Jonathan Heath said. Expressing concern about above-target inflation, Banxico, as the bank is known,…
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