SINGAPORE—Goldman Sachs expects a steeper path for U.S. rate rises and a 75 basis point hike this month, as Federal Reserve officials have been sounding hawkish recently, the investment bank’s analysts said in a note. They had previously forecast a 50 bps hike in September. The analysts also raised their November forecast from 25 bps…
Fed’s Barkin: Interest Rates Need to Get ‘Restrictive’
Richmond Federal Reserve Bank President Thomas Barkin on Friday said he wants to raise interest rates further to bring inflation under control, and will watch U.S. economic data to decide how big a rate hike to support at the Fed’s next meeting in September. “I’d like to see a period of sustained inflation under control,…
Fed Officials Say More Rate Hikes Needed, Despite Slowing Inflation
Slowing U.S. inflation may have opened the door for the Federal Reserve to temper the pace of coming interest rate hikes, but policymakers left no doubt they will continue to tighten monetary policy until price pressures are fully broken. A U.S. Labor Department report Wednesday showing consumer prices didn’t rise at all in July compared…
The Natchez Trace Parkway: A Peek into This History-Filled Attraction in the Mississippi Delta
In the 1951 novel “Requiem for a Nun,” William Faulkner crafts a character who travels from Kentucky to Mississippi along the Natchez Trace: Jason Lycurgus. Who, driven perhaps by the compulsion of the flamboyant name given him by the sardonic embittered woodenlegged indomitable father who perhaps still believed with his heart that what he wanted…
Fed’s Williams: 50 Basis Point Hike Is a ‘Very Reasonable Option’ for May
The U.S. Federal Reserve should reasonably consider raising interest rates by a half percentage point at its next meeting in May, New York Fed President John Williams said on Thursday, in a further sign even more cautious policymakers at the central bank are on board with a bigger rate hike. “I think that’s a very…
Seafood Biz Braces for Losses of Jobs, Fish Due to Sanctions
PORTLAND, Maine—The worldwide seafood industry is steeling itself for price hikes, supply disruptions, and potential job losses as new rounds of economic sanctions on Russia make key species such as cod and crab harder to come by. The latest round of U.S. attempts to punish Russia for the invasion of Ukraine includes bans on imports…
Lyft Ties up With Payfare to Hike Fuel Cashback in Bid to Retain Drivers
Lyft Inc.’s Lyft Direct cardholders will receive an increase in cashback rewards of 4 percent to 5 percent on purchase of gasoline until June 30, the ride-hailing firm said on Monday, its latest move to retain drivers amid a rise in fuel prices. Chief Executive Officer Marco Margiotta said the higher cashback in partnership with…
ECB Meets as Invasion of Ukraine Complicates Path to Higher Rates
February 24, 2022
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FRANKFURT—European Central Bank policymakers are gathering on Thursday for what may have become a crisis meeting as Russia’s invasion of Ukraine threatens to derail economic growth in the eurozone and complicate the ECB’s path out of negative interest rates. The ECB’s policymaking Governing Council had been due to gather in Paris on Thursday for an…
ECB Could Raise Rates in Summer Before Ending Bond Buys: Holzmann
ZURICH—The European Central Bank could begin increasing interest rates before ending its bond purchasing programme, ECB policymaker Robert Holzmann said, challenging the bank’s long-held view on the sequence of its upcoming policy moves. With inflation hitting fresh record highs in recent months, the ECB recently walked back on a pledge not to raise rates this…
Fed’s Barkin: ‘I’d Have to Be Convinced’ of Need for Half-Point Rate Hike
Richmond Federal Reserve Bank President Tom Barkin on Thursday said he would be “conceptually” open to raising interest rates by a bigger-than-usual half-of-a-percentage point increment, but does not see a need for it now. “Do I think there’s a screaming need to do it right now?” Barkin said at a virtual meeting at the Stanford…
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