Loretta Mester, president of the Federal Reserve Bank of Cleveland, said there was no “compelling” reason to wait for another interest-rate hike, in a recent interview. Mester told the Financial Times in a recent interview that more must be done to bring U.S. inflation under control, rather than await for more economic results. Some Fed policymakers have suggested that…
Cleveland Fed President Says There Is No ‘Compelling’ Reason to Pause Rate Hikes
May 31, 2023
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Robust Consumer Spending Could Be Bad News for Inflation
American consumers are proving to be more resilient than many market experts had expected in the tough economic climate, and this strength in spending is fueling the reacceleration in inflation. This might not, however, be good news for consumers or the Federal Reserve. In April, the Fed’s preferred inflation gauge—the Personal Consumption Expenditures (PCE) price…
IMF Warns of Prolonged High Interest Rates, Urges Fiscal Tightening to Tackle Inflation
May 26, 2023
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In a recent statement following its comprehensive assessment of U.S. policies, the International Monetary Fund (IMF) emphasized the need for the United States to maintain higher interest rates for an extended period to curb inflation. Additionally, the IMF urged Washington to adopt stricter fiscal measures to address the country’s mounting federal debt. Despite the U.S….
Federal Reserve’s Key Inflation Gauge Unexpectedly Comes in Hotter
The Federal Reserve’s preferred inflation gauge unexpectedly climbed in April, leading to concerns that the U.S. central bank could raise interest rates for the 11th straight month in June. In April, the annual personal consumption expenditure (PCE) price index rose to 4.4 percent, up from 4.2 percent, according to the Bureau of Economic Analysis (BEA)….
Inflation Rose in April Fueled by Jump in Consumer Spending
The Federal Reserve’s preferred inflation gauge unexpectedly climbed in April, leading to concerns that the U.S. central bank could raise interest rates for the 11th straight month in June. In April, the annual personal consumption expenditure (PCE) price index rose to 4.4 percent, up from 4.2 percent, according to the Bureau of Economic Analysis (BEA)….
Tight Labor Market and Stubborn Inflation Plague US Economy, Says Fed Governor
May 25, 2023
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A top Federal Reserve official stated his support for more interest rate hikes as a tight labor market, persistent inflation, and uncertain credit conditions continue to threaten the U.S economy. Federal Reserve Governor Christopher Waller told the University of California Santa Barbara County Economic Summit on May 25 that the Fed should not stop raising…
Not Raising Debt Limit in ‘Timely Manner’ Could Harm Financial System: Fed Minutes
Not raising the debt limit in a “timely manner” could pose a substantial risk to the financial system and the broader U.S. economy, according to minutes from the May Federal Open Market Committee (FOMC) policy meeting. FOMC participants assessed the Treasury Department’s forecast that the federal government would be unable to fully satisfy its obligations…
Several Federal Reserve Officials Mull 11th Round of Rate Hikes
May 23, 2023
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Several Federal Reserve officials are open to at least one more interest rate hike in the coming months to cool inflation. Several top policymakers have publicly spoken in favor of returning to the hawkish policy of the previous year at the next meeting in June, reported Fox Business. However, the central bank has come under increasing…
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…
Banking System Stress Persists as Deposits, Loans Decline Again
Deposit outflows at America’s banks accelerated last week, driven by the larger and smaller commercial financial institutions, according to new data from the Federal Reserve. For the week ending May 10, total U.S. commercial bank deposits declined by $26.4 billion, or 0.15 percent, to roughly $17.123 trillion, the lowest level since July 2021. This represented…
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