Breitbart Business Digest: Powell Is in Denial About the Fed’s Soft Landing Forecast
The Federal Reserve appears to expect the softest of landings next year.
Federal Reserve
Refi Mortgage Demand Surges 13.2% Despite High Rates
Applications for refinancing mortgages unexpectedly surged last week despite rising interest rates. The Mortgage Bankers Association (MBA) said that overall mortgage applications rose 5.4 percent last week. Purchase mortgage applications rose 2.3 percent and refinancings jumped 13.2 percent. The burst
Breitbart Business Digest: The Fed Will Hold Rates Steady Tomorrow
The biggest question in economics today is whether the Fed can engineer a soft landing.
Breitbart Business Digest: The Fed’s Rate Target Won’t Change This Week—But Everything Else Probably Will
The announcement of the Federal Reserve’s interest rate target is likely to be the least interesting thing coming out of this week’s Fed meeting.
Bidenflation Keeps Going: Inflation Edged Higher in July
The inflation fight is getting tougher.
Cleveland Fed Pres: Inflation Staying Above 2% ‘Well Beyond 2025’ Is ‘in the Cards Now in Terms of the Forecast’
During an interview with Bloomberg on Friday, Cleveland Federal Reserve Bank President Loretta Mester stated that she doesn’t want to entertain inflation remaining above 2% for longer than needed due to under-tightening and she wouldn’t want to see the timeline
Powell Warns: ‘We Are Prepared To Raise Rates Further’
The Fed chairman warned that rate hikes may not be over and rejected the idea of raising the central bank’s inflation target.
Philly Fed President: Inflation Will Move ‘Slowly’ to 2% Target in 2025, It’ll Be Near 3% in a Year
On Thursday’s broadcast of CNBC’s “Squawk on the Street,” Philadelphia Federal Reserve Bank President Patrick Harker stated that by this time next year, inflation will be around 3% and will move “slowly” to the 2% target level “in 2025.” CNBC
Trump: I Wouldn’t Renominate Powell for Another 4-Year Fed Chair Term, He Wanted Higher Rates for Longer, Was ‘Late’
During a portion of an interview aired on Thursday’s broadcast of the Fox Business Network’s “Kudlow,” 2024 Republican presidential candidate former President Donald Trump said that if he is elected president, he would not renominate Federal Reserve Chair Jay Powell
DeSantis: I Wouldn’t Renominate Powell for Another 4-Year Fed Chair Term, He Put Too Much Money into Economy
During an interview with CNBC on Monday aired on Monday’s broadcast of “Last Call,” 2024 Republican presidential candidate Florida Gov. Ron DeSantis said that if he is elected president, he would not renominate Federal Reserve Chair Jay Powell to another
Breitbart Business Digest: What Will Jerome Powell Do in Jackson?
The annual monetary policy conference in Jackson Hole, Wyoming, has the potential to produce some explosive results.
Labor Market Heating Up Again, Putting Pressure on Fed For Another Hike: Conference Board
A key gauge for the U.S. labor market indicates more jobs will be added in the months ahead, suggesting the Federal Reserve will hike again later this year.
Atlanta Fed President: We Have Broad-Based Inflation and Fed Will Be Restricting ‘Well into 2024’
During an interview with Bloomberg on Friday, Atlanta Federal Reserve President Raphael Bostic predicted that “it will just take a while” for inflation to hit 2% and the Federal Reserve will be in a restrictive stance “well into 2024,” and
Dimon: We’re Raising Rates to Fight Inflation, then Counteracting It with Government Spending
On Wednesday’s broadcast of CNBC’s “Power Lunch,” JPMorgan Chase Chairman and CEO Jamie Dimon said that fiscal policy is contradicting the Federal Reserve’s efforts to fight inflation and that we’re currently paying for continuing COVID spending and quantitative easing for
Breitbart Business Digest: The Fed Drops Its Recession Call
Federal Reserve Chairman Jerome Powell said the Fed is no longer forecasting a recession given the latest economic data showing the resilience of the U.S. economy.
Breitbart Business Digest: Everyone Is Still Fighting the Fed
Even the economists do not believe the Federal Reserve.
Exclusive — Rick Scott: Federal Reserve Supposed to Benefit Americans, Not Big Banks
Sen. Rick Scott (R-FL) touted his legislation to create more accountability at the nation’s central bank in an interview with Breitbart News, declaring that the Fed is supposed to be a boon to the American people, not the big banks.
SF Fed Bank Pres: I Wasn’t ‘Regularly Aware’ of SVB Problems, That’s ‘a Feature’ So We Could Have SVB’s CEO on Board
On Thursday’s broadcast of CNBC’s “Squawk on the Street,” Federal Reserve Bank of San Francisco President and CEO Mary Daly stated that she was “not regularly aware” of the problems with Silicon Valley Bank (SVB) and said that doing this
SF Fed Bank Pres. on Failure to Spot SVB’s Problems: We Need Fixes, But Most Banks Managed Risk Well
On Thursday’s broadcast of CNBC’s “Squawk on the Street,” Federal Reserve Bank of San Francisco President and CEO Mary Daly responded to a question on why the weaknesses in Silicon Valley Bank weren’t identified by stating that while there are
Fed Governor Waller Says Two More Hikes Needed This Year
Long and variable? Maybe not. Fed Governor Christopher Waller have a speech titled “Big Shocks Travel Fast: Why Policy Lags May Be Shorter Than You Think” on Thursday night in New York.
Bullard, a Key Voice in Inflation Fight, Steps Down as Head of St. Louis Fed
St. Louis Federal Reserve President James Bullard announced on Thursday that he was stepping down from his post to take the position of dean at Purdue University’s Mitchell E. Daniels, Jr. School of Business.
Inflation Slowed In June: Consumer Prices Rise at Slowest Pace Since 2021
Inflation fell by more than expected in June.
Summers: We’ve Seen Transitory Inflation Elements Fade, We’ll Need More Rate Hikes
During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers predicted that the Federal Reserve will
Acting Labor Sec’y: Rate Hikes Are Hurting a Lot of People, People ‘Continue to Feel’ ‘Pain’
On Friday’s broadcast of MSNBC’s “Ana Cabrera Reports,” acting Labor Secretary Julie Su acknowledged that the Federal Reserve hiking interest rates to tame inflation is hurting many people and stated that “We should acknowledge some of the pain that Americans
Ukraine’s Gold and Currency Reserves Now Largest Ever, Says Central Bank
Chairman of Ukraine’s National Bank thanks Western partners for cash as reserves now the largest in history.
Summers: Fed Pausing, Increasing Inflation Forecast Seems Driven by ‘Internal Political Dynamics’ — No Clear ‘Durable Reduction in Inflation’
During an interview aired on Friday’s broadcast of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers argued that we do not have
Breitbart Business Digest: The Market Still Doubts Fed’s Inflation Resolve
Markets and analysts are no longer forecasting a series of rate cuts this year, but they do not buy the notion that the Fed will keep hiking.
Breitbart Business Digest: ‘Skippy’ Powell Kept Rates Steady Even Though He Thinks They’ll Go Higher Later
The Federal Reserve on Wednesday announced its decision not to raise the range for its benchmark federal funds rate target, choosing to leave rates alone for the first time in 15 months.
Federal Reserve Leaves Interest Rates Unchanged Despite High Inflation
Federal Reserve policymakers left the central bank’s benchmark interest rate unchanged despite inflation that has run above its target for over two years.
Breitbart Business Digest: Inflation Tame Enough for a Fed Pause
Federal Reserve Chairman Jerome Powell will get his pause.
Breitbart Business Digest: Fed Still Likely to Tap Breaks on Rate Hikes
The stage is set for the Federal Reserve to take a breather at its next meeting, probably with the explanation that it wants to assess the effects of the earlier interest rate hikes on the economy.
Breitbart Business Digest: The Fed’s Old Projections Are Walking Dead
The Federal Reserve’s Summary of Economic Projections from March now appear to be seriously outdated.
Exclusive: GOP Presidential Hopeful Tim Scott Calls Jobs Report Numbers ‘Distorted’, ‘Excludes Long-Term Unemployed’
President Joe Biden touted May’s jobs report, but Republican presidential candidate Tim Scott says the unemployment numbers are “distorted.”
Summers: ‘Underlying Inflation’ Is 4.5 to 5% and Forecasts Overstate Ability of Monetary Policy to Slow Economy
During an interview with Bloomberg on Friday, Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton, Larry Summers stated that the jobs report shows that forecasters “are exaggerating the
Carney on ‘Kudlow’: Decline of the Gig Economy Could Be Pushing Workers into Payroll Jobs
A decline in the self-employed gig economy could be pulling more workers into payroll jobs while also increasing the unemployment rate, Breitbart Economics Editor John Carney explained.
Job Openings Soar Above 10 Million as Labor Market Keeps Overheating
So much for the idea that the labor market was softening enough for the Fed to hold off on rate hikes.
Breitbart Business Digest: Debt Ceiling Deal Paves Road for Fed Hike
The deal to suspend the limit on federal government debt until 2025 removes one of the obstacles to another Federal Reserve rate increase.
Heritage Foundation Economist: Government Spending, Printing Sources of Almost all Economic ‘Ills’
Heritage Foundation economist E.J. Antoni told Breitbart News Saturday that stopping government spending would unleash the American economy and rein in inflation.
Cleveland Fed Pres: We ‘Haven’t Been Making Very Strong Progress on Inflation’
On Friday’s broadcast of CNBC’s “Squawk on the Street,” Cleveland Federal Reserve Bank President Loretta Mester stated that the latest Personal Consumption Expenditures (PCE) price index shows that progress on inflation “has been slow and in fits and starts” and
Breitbart Business Digest: Inflation Is Still Stuck on Us
It is getting harder and harder to justify not raising rates at the next meeting of the Federal Open Market Committee.
