The U.S. central bank should consider accelerating the winding down of its large-scale bond purchases at its next policy meeting in two weeks amid a strong economy and expectations that a surge in inflation will persist into the middle of next year, Federal Reserve Chair Jerome Powell said on Tuesday. Powell twinned his remarks, described…
Fed’s Bostic Says He Remains Open to Faster Taper and One or Two Rate Hikes in 2022
November 27, 2021
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Atlanta Federal Reserve President Raphael Bostic said on Friday he is hopeful that the momentum of the U.S. economy will carry it through the next wave of the coronavirus pandemic, and said he remains open to accelerating the pace of the central bank’s bond taper. Earlier on Friday, the World Health Organization said it was…
Fed to Kick Off Faster Tapering Plan From January: Goldman Sachs
November 25, 2021
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LONDON—The U.S. Federal Reserve will likely double the pace of tapering its monthly bond purchases from January to $30 billion, and wind down its pandemic-era bond buying scheme by mid-March, Goldman Sachs strategists said in a daily note on Thursday. “The increased openness to accelerating the taper pace likely reflects both somewhat higher-than-expected inflation over…
More Fed Officials Open to Speeding Up Bond-Buying Taper, Rates Liftoff
A growing number of Federal Reserve policymakers indicated they would be open to speeding up the elimination of their bond-buying program if high inflation held and move more quickly to raise interest rates, minutes of the U.S. central bank’s last policy meeting showed. The readout released on Wednesday was the latest indication that anxiety about…
Fed Terminates 2016 Enforcement Action Against Goldman Sachs for Confidential Data Misuse
WASHINGTON—The U.S. Federal Reserve announced Tuesday it had terminated a 2016 enforcement action against Goldman Sachs, which had been imposed over misuse of confidential data. The consent order, directed alongside a $36.3 million fine, required the bank to submit a plan to strengthen policies, after a former employee illegally obtained documents from a friend at…
S&P 500, Nasdaq Hit Record Highs After Powell Nomination
November 22, 2021
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The S&P 500 and the Nasdaq hit record highs on Monday after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the bank for a second term, keeping the status quo as the central bank plans to wind down pandemic-era stimulus. The Dow Jones Industrial Average rose 29.43 points, or 0.08 percent, at…
NY Fed’s Williams Says Inflation Increases Becoming Broader Based
November 19, 2021
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Inflation in the United States is becoming more broad based and expectations for future price increases are rising, a trend policymakers will be watching closely, New York Federal Reserve Bank President John Williams said on Thursday. While some of the price increases seen today are related to the pandemic and imbalances between supply and demand,…
US to Start Raising Interest Rates From September 2022: JP Morgan
LONDON—The U.S. Federal Reserve will start raising interest rates from September 2022, economists at the country’s biggest bank said in a 2022 outlook note. JPMorgan expects the central bank to raise rates by 0.25 percent from the third quarter of next year and keep raising them by 25 basis points every quarter “at least until…
Bullard Says Fed Should Tack ‘Hawkish’ in Next Couple of Meetings
November 16, 2021
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WASHINGTON—The U.S. Federal Reserve should “tack in a more hawkish direction” over its next couple of meetings to prepare in case inflation does not begin to ease, St. Louis Federal Reserve bank president James Bullard said on Tuesday. “If inflation happens to go away we are in great shape for that. If inflation doesn’t go…
Dollar Eases From 16-Month High as Traders Seek Clues on Fed Rate Plans
November 15, 2021
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LONDON—The dollar eased on Monday from an almost 16-month high versus major peers, as traders awaited fresh clues on Federal Reserve interest rate hike plans on the back of red-hot inflation. The dollar had been buoyant since Wednesday, when data showed U.S. consumer prices rose last month at the fastest annual pace since 1990, casting…
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