The Federal Reserve raised the benchmark federal funds rate by 75 basis points to a new target range of 3 to 3.25 percent on Wednesday, matching market expectations. This is the third consecutive three-quarter point rate hike, as the Federal Open Market Committee (FOMC) lifted interest rates to their highest levels since 2008. Markets had…
Fed Raises Interest Rates by 0.75 Percentage Points to Highest Level Since 2008
10-year Treasury Yield Above 3.5%, as Markets Brace for Another Fed Hike
September 21, 2022
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The 10-year U.S. Treasury yield hit above 3.5 percent for the first time in over a decade, as markets prepare for another interest rate hike by the Federal Reserve this week. The last time the 10-year yield, which is the most significant global interest rate benchmark, rose to that level was back in April 2011….
Stocks Close Lower Ahead of Fed Decision on Interest Rates
Stocks finished broadly lower Tuesday as Wall Street, increasingly anxious about the slowing economy, looks ahead to a widely expected interest rate hike by the Federal Reserve in its bid to squash the highest inflation in decades. The S&P 500 index fell 1.1 percent, as more than 90 percent of stocks and every sector in…
Capitol Report (Sept. 20): Democrats Push for New Election Law; Inflation Key Issue for Americans
September 20, 2022
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Weeks away from the midterms, Democrats are ramping up a last-ditch effort to change the way campaigns operate. They say it’s exposing dark money, while Republicans call it an effort to federalize elections. Interest rates are expected to see another rate hike by the Federal Reserve this week. How will that affect consumers and living…
Elon Musk Wades Into Inflation Debate as Fed Tees Up Another Jumbo Rate Hike
September 20, 2022
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Tech entrepreneur Elon Musk weighed in on the inflation debate as Federal Reserve policymakers prepared to convene for a two-day meeting at which markets expect the central bank to deliver another large rate hike to cool soaring prices. Musk took to Twitter on Sept. 19 to argue that former Treasury Secretary Larry Summers had made…
Steve Forbes Criticizes Fed for ‘Making People Poorer,’ Insists America Is in Recession
September 20, 2022
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Steve Forbes, chairman and editor-in-chief of Forbes magazine, told Fox Business Network that President Joe Biden will get blowback for his “happy talk” on inflation, insisted America in a recession even if the downturn isn’t yet official, and blasted the Federal Reserve for hiking interest rates too aggressively and “making people poorer.” Program host Stuart…
10-Year Yields Highest Since 2011 Before Expected Fed Rate Hike
NEW YORK—Benchmark 10-year U.S. Treasury yields jumped to their highest level since 2011 on Monday as investors adjusted for the likelihood that the Federal Reserve will hike rates higher and for longer than previously expected as inflation remains near multi-decade highs. Data last week showed higher-than-expected consumer prices in August, dashing hopes that the worst…
Debt—and Why the Fed Is Trapped
September 19, 2022
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Commentary The massive debt levels provide the single most significant risk and challenge to the Federal Reserve. It is also why the Fed is desperate to return inflation to low levels, even if it means weaker economic growth. Such was a point previously made by Jerome Powell: “We need to act now, forthrightly, strongly as…
A Perfect Storm for a Liquidity Crisis?
September 16, 2022
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Commentary Efforts to curb inflation by central banks, particularly the Federal Reserve (Fed), may well trigger a liquidity crisis in the markets. That’s the assessment of University of Bath researchers, which claims that excessive anti-inflationary policies could create a money shortage within this calendar year. Moreover, it shows that central banks can be a destabilizing…
Biden White House Issues Framework for Regulating Digital Assets
September 16, 2022
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The Biden administration has released its first-ever comprehensive framework aimed at regulating digital assets like cryptocurrencies, including cracking down on fraud and fostering financial stability. In March, President Joe Biden issued an executive order seeking to ensure the responsible development of digital assets. Since then, multiple government agencies have been framing policies aimed at pushing…
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