By Jeff Ostrowski From Bankrate.com The fate of the housing boom is on the minds of both homeowners and homebuyers these days. Will record home values lead to a crash reminiscent of the one that made the Great Recession so painful? Or will prices simply take a breather from their torrid pace of appreciation? No…
Fed’s Powell Contradicts Biden’s Claim That Ukraine War Is Biggest Inflation Driver
June 23, 2022
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Business & Marketseconomic policieseconomyExecutive BranchFedinflationjerome powellMarketsPolicies & ImpactsPoliticsUkraineUSUS News
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Federal Reserve Chairman Jerome Powell on Wednesday admitted that inflation levels were already high before Russia’s invasion of Ukraine, contradicting the Biden administration’s insistence that skyrocketing price increases are largely due to Moscow’s “special military operation” in the eastern European country. Powell made the admission during a Senate Banking Committee hearing after Sen. Bill Hagerty (R-Tenn.) questioned…
The Inflationary Damage Won’t Be Fixed
News Analysis The public loathing of these price increases cuts across all party and demographic lines. Many people express the same longing: “These prices have to go back to normal. It’s killing me. Surely things will settle down.” This is a widespread hope born of disbelief of what has happened in such a short period…
Fed’s Bullard: I Hope US Economy Repeats Outcome of 1994’S Soft Landing
The U.S. Federal Reserve could raise interest rates swiftly this year and forge a “stellar” economy ahead if it can pull off a repeat of the success of the central bank’s 1994 tightening cycle, St. Louis Fed President James Bullard said on Monday. “That tightening episode caused some disruption that year,” Bullard said during an…
The Fed Should Rely on Market Signals Not Ouija Boards
Commentary Only recently did Federal Reserve Board members realize their purchases of more than $4.5 trillion in securities over the past two years were excessive. This week they will try to undo their mistake by sharply increasing interest rates and selling securities. Specifically, the Fed plans to raise its target interest rate from 0.8 percent…
Euro Jumps as ECB Holds Unscheduled Meeting, Dollar Awaits Fed Move
LONDON—The euro jumped after the European Central Bank’s governing council said it would hold an unscheduled meeting on Wednesday to discuss the recent sell-off in government bond markets, hours ahead of a closely-watched meeting of the U.S Federal Reserve. The European common currency rose as to as high as $1.0508 following the announcement, which comes…
Hot Inflation Dims Likelihood Fed Can Achieve ‘Soft Landing’
WASHINGTON—For months, Chair Jerome Powell has held out hope that the Federal Reserve will be able to raise interest rates high enough to throttle rampant inflation without tipping the economy into recession. Yet with the Fed set to announce another sharp interest rate hike after it meets this week, days after the government issued a…
Fed’s George Sees Policy Interest Rate Near 2 Percent by August
May 24, 2022
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Business & Economyeconomic policieseconomyEsther GeorgeEuropeFedinterestrateRussia-Ukraine WarUSUS NewsWorld
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Kansas City Federal Reserve Bank President Esther George on Monday said she expects the U.S. central bank to lift its target interest rate to about 2 percent by August, with further action dependent on how both supply and demand are affecting inflation. “Fed policymakers have emphasized a commitment to act expeditiously to restore price stability,…
Why the Fed Can’t Hike T-bill Rates and What That Really Means
Commentary It was very early in the morning, U.S. time, and the 4-week U.S. Treasury bill then being traded all over Asia suddenly captured a huge bid. At around 3:30 am EDT, May 11, the equivalent yield on this particular short-term instrument ticked lower and lower. Two hours later, around 5:30 am, the rate had…
A Recession Is on the Horizon
Commentary The recent disappointing report on the gross domestic product (GDP) may reflect statistical particulars more than the immediate onset of a recession. But the real thing nonetheless lies on the horizon, probably in the next 18–24 months. Inflationary pressures are the culprit. They make recession all but inevitable. The downturn will arrive in one…
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