Minneapolis Fed President Neel Kashkari, a member of the central bank’s rate-setting monetary policy committee, is open to pausing interest rates at the next policy meeting in June. He told the Wall Street Journal on May 21 that members of the Federal Open Market Committee (FOMC) need more time to assess the results of previous rate increases…
Fed’s Kashkari Open to Holding Rates Steady at Next Policy Meeting in June
May 22, 2023
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FOMC Members Raised Recession Odds, Warned ‘Uncertainties’ in Inflation Outlooks, Minutes Reveal
February 22, 2023
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Minutes from the latest Federal Open Market Committee (FOMC) policy meeting revealed that the policy-making arm of the central bank believes the odds of a recession occurring in 2023 are higher. While inflation is moderating and global economic growth prospects have bolstered market sentiment, there is a growing number of FOMC participants who are anticipating…
December Jobs Prints Well, but …
January 6, 2023
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Commentary The December jobs report showed that the economy added 223,000 new jobs, somewhat better than the consensus estimate of 203,000 jobs. This morning’s print is 33,000 fewer jobs than were created in November 2022 and 384,000 fewer jobs than were created in the COVID recovery period of December 2021. Net revisions for October and November resulted in 28,000 fewer jobs in the last three…
NTD Business (Jan. 4): Fed Not Expected to Cut Rates This Year; Members of Congress Beat the Market, Again
January 4, 2023
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The Federal Reserve remains focused on fighting inflation, despite warnings of a looming recession. New meeting minutes Wednesday confirm there won’t be rate cuts this year. Members of Congress have once again beaten the stock market. Many traded in large volumes and in the millions of dollars. Do they know something we don’t? The Chinese…
Economy to Grow Slower, Inflation ‘Far Too High’: Fed’s Williams
November 30, 2022
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Business & Marketseconomic policieseconomyFederal Open Market Committee (FOMC)high inflationinflationinterest rate hikesNew York Federal ReserveU.S. economic growthUS
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John Williams, president of the Federal Reserve Bank of New York, is expecting America’s economic growth to slow down and inflation to cool in the coming years. Due to the Fed’s tightening monetary policy, broad measures of financial conditions, including borrowing, equity prices, and mortgage rates, have become “significantly less supportive of spending.” Williams said…
Wall Street Futures Drop in Early Trading on June 22, Investors Fear Looming Recession
June 22, 2022
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The Dow Jones Industrial Average and S&P 500 futures were in the red during early trading on June 22 ahead of Federal Reserve Chairman Jerome Powell’s congressional testimony. Dow Jones Industrial Average futures were trading at 30,167 as of 8:06 a.m. Eastern time on June 22, down over 300 points after opening at 30,495. Meanwhile,…
Fed Promises ‘Unconditional’ Commitment to Fighting Inflation
June 19, 2022
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The Federal Reserve has promised to fight inflation unconditionally while also warning about a rise in inflation expectations in its latest Monetary Policy Report. The Federal Open Market Committee (FOMC) has been “adjusting” its policies and communications since last fall in response to inflationary pressures, it said in a June 17 report. “The Committee is…
Inflation to Remain High in 2022, Congressional Budget Office Warns
May 26, 2022
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The Congressional Budget Office (CBO) is expecting inflation to remain elevated in 2022 and then to subsequently decrease over the next couple of years, the agency said on May 25. The Personal Consumption Expenditures (PCE) Price Index, which is the Federal Reserve’s preferred measure of inflation, will be 4 percent in 2022, the agency projected…
Federal Reserve Will ‘Proceed Carefully’ on Policy Tightening Amid Ukraine War
March 3, 2022
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Federal Reserve Chair Jerome Powell almost guaranteed that rate hikes are coming, but the “implications for the U.S. economy” from the Ukraine–Russia war “are highly uncertain.” Speaking in front of the House and Senate committees, the head of the central bank anticipated quarter-percentage-point increases ahead. Powell conceded that there is always the possibility that the…
Minutes Show Federal Reserve Ready for Rate Hikes, Tightening
The Federal Reserve is ready to raise interest rates and shrink the nearly $9 trillion balance sheet, minutes from last month’s Federal Open Market Committee (FOMC) meeting show. Policymakers discussed that the timing and pace of shrinking the balance sheet would be determined by the rate-setting committee’s dual mandate of full employment and price stability…
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