For the first time since 2018, the Federal Reserve raised its benchmark interest rate by 25 basis points, increasing the target rate to the 0.25–0.5 percent range. The Fed completed its two-day Federal Open Market Committee (FOMC) policy meeting on Wednesday, described by analysts as an important turning point for monetary policy. Fed officials project…
Fed Raises Interest Rates for the First Time Since 2018 to Fight Inflation
Fed Raises Interest Rates for First Time Since 2018 to Fight Inflation
For the first time since 2018, the Federal Reserve raised its benchmark interest rate by 25 basis points, increasing the target range for the rate to 0.25–0.5 percent. The Fed completed its two-day Federal Open Market Committee (FOMC) policy meeting on March 16, described by analysts as an important turning point for monetary policy. Fed…
Fed’s Powell Tees Up Rate Hike in March on High Inflation and ‘Extremely Tight’ Jobs Market
March 2, 2022
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Federal Reserve Chair Jerome Powell told lawmakers on Wednesday that the central bank is on track to raise interest rates at its next policy meeting in two weeks, with the Fed chief citing high inflation, robust growth, and an “extremely tight” labor market, while noting that the war in Ukraine was injecting high uncertainty into…
Bank of Canada Interest Rate Hike Likely First of Many, Say Analysts
The Bank of Canada’s modest rate increase on March 2 will do little to stem inflation, say analysts, who expect more rate hikes later this year. The BoC’s increase of 0.25 basis points to arrest increasing inflation brought the rate to 0.5 percent. The hike was widely expected by analysts, even though it’s earlier than…
Fast or Slow? Markets Debate on Pace of Fed Rate Increases
The latest debate on Wall Street is on whether the Federal Reserve will be aggressive or cautious when raising interest rates. Last week, the U.S. annual inflation rate surged to a market-defying 40-year high of 7.5 percent in January. Prices were up across the board, from food to energy to shelter. The reading ignited discussions…
All Eyes Turn to Federal Reserve After Inflation Hits 40-year High
This week’s consumer price index (CPI) release confirmed that U.S. inflation has continued to surge to its highest annual rate in over 40 years. The latest data has piled pressure on the Federal Reserve to rein in the economy to bring inflation under control. CPI rose 0.6 percent over January and has increased by 7.5…
Hot Inflation Data Prompts Goldman Sachs to Raise Fed Rate Hike Forecast
February 11, 2022
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Hotter-than-expected inflation numbers have prompted investment bank Goldman Sachs to boost its predictions for the number of times the Federal Reserve will hike interest rates in a bid to cool surging prices. Inflation accelerated in the 12 months through January to a dizzying 7.5 percent, a fresh 40-year high that topped market estimates of 7.3 percent. On…
It Is Time to Balance the Federal Budget Again
Commentary The national debt has passed $30 trillion. It is clearly time to start talking about balancing the federal budget. The explosion of federal debt has been astonishing. In 1980, the national debt was $908 billion. Today, it is more than $30 trillion and growing. That is a more than 3,204 percent increase in 42…
ECB’s Knot Sees First Interest Rate Hike in 4th Quarter of 2022
AMSTERDAM—Klaas Knot, the Dutch central bank president and a member of the European Central Bank’s Governing Council, said on Sunday he expects the ECB to raise interest rates in the fourth quarter of this year. In an interview on Dutch television program Buitenhof, Knot, known as one of the more hawkish members of the ECB’s…
UK Central Bank Raises Interest Again to Cool Soaring Inflation
February 3, 2022
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Britain’s central bank, the Bank of England (BoE), decided on Feb. 3 to raise interest rates from 0.25 percent to 0.5 percent to curb rampant inflation. The Bank’s nine-member monetary policy committee (MPC) voted five to four in favour of the decision. The four dissenting members all voted for a bigger increase of 0.75 percent….
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