The Federal Reserve voted to raise the benchmark federal funds rate by 50 basis points, to a target range of 4.25–4.5 percent at the December policy-setting meeting of the Federal Open Market Committee (FOMC), the highest level since late 2007. In total, the Federal Reserve has raised interest rates seven times since March, totaling 425…
Fed Raises Interest Rates by 0.5 Percentage Point to a 15-year High
December 14, 2022
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Fed Raises Interest Rates by 0.5 Percentage Point to 15-Year High
December 14, 2022
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Federal Reserve policymakers voted on Dec. 14 to raise the benchmark federal funds rate by 50 basis points to a target range between 4.25 percent and 4.5 percent, the highest level since late 2007. The Fed’s Federal Open Market Committee (FOMC) has boosted interest rates seven times since March, totaling 425 basis points. During a post-meeting press…
LIVE NOW: Fed Chair Jerome Powell Speaks After Policy Meeting
December 14, 2022
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Federal Reserve Chair Jay Powell holds a news conference to conclude its last policy meeting of the year on Wednesday, Dec. 14, at 1:15 p.m. ET. He will be commenting on a drop in inflation, a slowed pace of rising interest rates, and a spending tightening policy. The Epoch Times will livestream the event starting…
Slowing Inflation Metric Could Place Fed in Challenging Spot Regarding Further Rate Hikes
With the latest economic data pointing to a decline in overall annual inflation, debates will intensify within the Federal Reserve on how to move forward with its interest rate hikes. The 12-month Consumer Price Index (CPI) has remained above 7 percent every month since the beginning of the year. The Fed has pushed up its…
How and When Will This Inflation End?
December 13, 2022
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Commentary Can the press stop saying that inflation is “easing” please? It’s getting ridiculous. The Consumer Price Index came in at 7.1 percent from a year ago. That’s terrible. Yes, not as terrible as last month but look at the breakdown in detail. Food at home was up 10 percent and food at restaurants up…
Persistent Inflation Leaves Americans Increasingly Pessimistic About State of Economy: Survey
Americans are growing increasingly pessimistic about the outlook for the economy following a turbulent year of soaring inflation, rising gas prices, and decreased purchasing power, a new survey has found. According to McKinsey’s American Opportunity Survey (AOS), which looks at Americans’ perceptions of the current and future state of the U.S. economy, Americans across the board are showing…
Biden Admin and Fed Market Distortion
December 9, 2022
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Commentary Federal Reserve control over interest rates, combined with government money creation, distorts markets, causing booms and busts, high household debt, government deficits, and high real estate and education prices. President Joe Biden’s student loan forgiveness program will increase educational costs while increasing government spending by as much as $1.6 trillion. The market for nearly…
Federal Reserve Unveils Climate Risk Proposal for Big Banks for Public Comment
December 2, 2022
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The Federal Reserve Board of Governors on Dec. 2 invited public comment on proposed principles for managing climate-related risks of banks with $100 billion or more in assets. Six of the board’s seven members voted in favor of the move. They included Federal Reserve Chair Jerome Powell, who became chair under President Donald J. Trump….
Forecast-Beating Jobs Report Boosts Investor Bets on Bigger Fed Rate Hikes
Friday’s stronger-than-expected jobs report bolstered investor bets that the Federal Reserve would tighten monetary settings more aggressively to quash inflation by delivering a bigger rate hike at its next meeting and taking rates higher overall before hitting pause. Government data released on Dec. 2 showed that the U.S. economy added 263,000 new jobs in November,…
Inflation Eases but Remains 300 Percent Above Fed’s Target, New Data Shows
December 2, 2022
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New data shows that U.S. inflation rates have eased but still remain 300 percent above the Federal Reserve’s target. The personal consumption expenditures index (PCE) for October, a measure of inflation that is closely monitored by the Fed, was released on Dec. 1 by the Bureau of Economic Analysis. The central bank is using the headline PCE…
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