Commentary Federal Reserve (Fed) Board Chairman Jerome Powell has made himself and Fed guidelines clear. Although the board voted in June to pause the pattern of raising interest rates, policymakers are not finished with their anti-inflation efforts and will likely raise rates again before they are done. Powell explained that the June pause was just…
Fed’s Barkin Says ‘Comfortable Doing More’ If Inflation Does Not Fall
WASHINGTON—Richmond Federal Reserve president Thomas Barkin said Friday he is comfortable with further interest rate increases if coming data does not show that weakening demand for goods and services is feeding through to slower inflation. “I am still looking to be convinced of the plausible story that slowing demand returns inflation relatively quickly” to the…
High Borrowing Costs Signify a New Era of Inflation: Bankrate.com
How is the Federal Reserve’s interest rate decision impacting regular Americans? And what can you do to protect your money? NTD speaks to Sarah Foster, principal U.S. economic reporter at financial information platform Bankrate.com. …
One, Two More Rate Hikes Won’t Make Big Difference to Economy: Strategist
The Federal Reserve kept interest rates unchanged on Wednesday, but signaled another half-of-a-percentage-point hike may be coming by the end of this year. The U.S. central bank acknowledged a stronger-than-expected economy and a slower decline in inflation. NTD Business spoke with Sam Burns, chief strategist at Mill Street Research, to find out his thoughts on…
Fed Plans: Tomorrow and Beyond
Commentary Federal Reserve (Fed) Chairman Jerome Powell recently stepped back from the cut and thrust of immediate policy matters to offer insight into Fed priorities—a review of what events and guidelines will prompt future decisions. Some of what Powell said provided comfort. Other things were not so reassuring. And still, others raised fundamental questions about…
How Much Did the Fed Raise Interest Rates in 2022?
Last month, the Federal Reserve increased interest rates again, the ninth consecutive increase since the Fed began raising rates in March 2022. While the full effects of the latest rate hike remain to be seen, analysts debate whether the Fed will raise rates again at its next meeting in May. This is the big question…
Senators Accuse Financial Regulators of Lack of Accountability, Competence
Sens. Tim Scott (R-S.C.) and Jon Tester (D-Mont.) grilled a panel of financial regulators on Thursday morning, with Scott going so far as to demand immediate dismissals at the Federal Reserve in response to the central bank’s failure to effectively regulate Silicon Valley Bank in view of its collapse. During the Senate Banking Committee hearing,…
Manufacturing Levels in New York State Plummet to 2023 Lows, Shatter Expectations
Manufacturing activity in New York State fell sharply in May 2023, according to the Empire State Manufacturing Survey released by the Federal Reserve Bank of New York. The headline general business conditions index plunged 43 points, to -31.8, drastically falling below the expected level of -2.5. The survey reveals that new orders and shipments also…
Manufacturing Levels in New York State Plummet to 2023 Lows, Far Below Expectations
Manufacturing activity in New York State fell sharply in May 2023, according to the Empire State Manufacturing Survey released by the Federal Reserve Bank of New York. The headline general business conditions index plunged 43 points, to –31.8, drastically falling below the expected level of –2.5. The survey reveals that new orders and shipments also…
Manufacturing Levels Plummet to 2023 Lows, Shatter Expectations
Manufacturing activity in New York State fell sharply in May 2023, according to the Empire State Manufacturing Survey released by the Federal Reserve Bank of New York. The headline general business conditions index plunged 43 points, to -31.8, drastically falling below the expected level of -2.5. The survey reveals that new orders and shipments also…
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