The Federal Reserve’s preferred inflation gauge eased further in December, and consumer spending fell — the latest evidence that the Fed’s series of interest rate hikes are slowing the economy.
The U.S. economy expanded at a 2.9% annual pace from October through December, ending 2022 with momentum despite the pressure of high interest rates and widespread fears of a looming recession.
On Friday’s broadcast of NPR’s “Here and Now” President and CEO of the Federal Reserve Bank of Boston Susan M. Collins stated that climate change is one of the factors that has led to the rapid increase in prices. Collins
The extremely benign economic data of the past two weeks appears to have made investors more confident that they will win the fight with the Fed.
A softer labor market will weigh on black and Hispanic employment, Fed officials acknowledged at their December meeting.
On Thursday’s broadcast of CNBC’s “Squawk Box,” Kansas City Federal Reserve President Esther George stated that she believes the federal fund rates will be over 5% “until we get the signals that inflation is really convincingly starting to fall back toward
Lots of headlines about layoffs but very few showing up in the unemployment data.
Does not look like monetary policy has become restrictive yet.
Stock markets were wrapping up their worst performances in years on Friday before heading into 2023 under recession fears following Russia’s invasion of Ukraine, high inflation, and rising interest rates.
The number of people seeking unemployment benefits rose only slightly last week, with the labor market remaining strong despite the Federal Reserve’s efforts to cool the economy and hiring.
The Federal Reserve plotted a course for next year that includes sluggish growth, declining yet persistently high inflation, and at least a few more interest rate hikes. It’s a good idea to study this Fed map closely, while remembering the map is not the territory.
Fed chair says he is going to stand his ground on the inflation target.
Estimates for rates, inflation, and unemployment were all raised in the projections of Fed officials.
Lots of headlines about layoffs but no sign of significantly increased job loss in the claims data.
A setback for the Fed or a foreshadowing of a soft-landing?
Chairman Jerome Powell on Wednesday ruled out the idea that the Fed might raise its benchmark interest rate by 75 basis points.
Consumer spending was stronger than reported and prices higher.
On Monday’s broadcast of CNBC’s “Closing Bell,” President and Chief Executive Officer of the Federal Reserve Bank of Cleveland Loretta Mester predicted that while there will be substantial progress on inflation in 2023, “We won’t be back to 2%,” and “growth
On Friday’s broadcast of “CNN Newsroom,” Labor Secretary Marty Walsh stated that he hasn’t “seen what the impacts” of the Federal Reserve rate hikes are, and “All I know is that every month, we’re seeing more and more jobs added
On Thursday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, argued that Federal Reserve Chairman Jerome Powell got inflation wrong in part because “the White House was signaling that they
If you want to figure out where monetary policy is heading next, watch the labor market.
The poet and essayist Ralph Waldo Emerson is often credited with advising that “life is a journey not a destination.” Federal Reserve Chairman Jerome Powell on Wednesday told us that for the Federal Reserve, it is the destination that matters more than the journey.
Fed officials agreed Wednesday to lift the benchmark federal-funds rate by three-quarters of a percentage point to a range between 3.75 and four percent.
A big and unexpected reversal for the Federal Reserve in a closely watched measure of the labor market. The job vacancy ratio is back up to 1.9.
The staff of the Federal Reserve board believe the potential output of the U.S. economy is even lower than thought.
The U.S. economy has decoupled from itself. The bad news is that the Federal Reserve wants to put it back together.
On Monday’s broadcast of CNN’s “The Lead,” Sen. Elizabeth Warren (D-MA) claimed that Republicans are the ones who want the Federal Reserve to engage in interest rate hikes that will “put millions of people out of work.” Warren said, “I
The September jobs report showed that the labor market was stronger than expected, which probably locks in another 75-basis point hike when Federal Reserve officials meet again next month.
On Friday’s broadcast of CNN’s “At This Hour,” New York Times Federal Reserve and Economy Reporter Jeanna Smialek stated that while the September jobs report is “a baby step in the right direction.” Things are “still too hot” for the Federal Reserve’s liking
On Tuesday’s broadcast of “CNN Newsroom,” San Francisco Federal Reserve President and CEO Mary Daly stated that “people already are suffering. They’re suffering from the toll, the indignity of high inflation.” And people “can’t afford the things they could afford
A U.N. Agency wants the Fed to change its policy path to benefit the developing world.
On Friday’s broadcast of MSNBC’s “Way Too Early,” CNBC International Financial Journalist Arabile Gumede said that we can expect markets to have difficulties until inflation is controlled and that the economy doesn’t look as good as central banks would like.
On Thursday’s broadcast of CNBC’s “Squawk Box,” President and Chief Executive Officer of the Federal Reserve Bank of Cleveland Loretta Mester stated that, based on “nationally-representative” surveys done by the bank’s Center for Inflation Research, “people expect inflation to remain
On Thursday’s broadcast of CNBC’s “Squawk Box,” President and Chief Executive Officer of the Federal Reserve Bank of Cleveland Loretta Mester said there has been the start of a “transition from purchasing goods and the goods inflation to services inflation.
Home prices are still up a lot compared with a year ago but the housing market is cooling and now seeing month-to-month declines.
“We need to have a slowdown. There’s no question about that. But I do think that we’re going to do all we can at the Federal Reserve to avoid deep, deep pain,” Bostic said.
On Thursday’s broadcast of the Fox Business Network’s “Kennedy,” Rep. Thomas Massie (R-KY) stated that the Federal Reserve’s aggressive rate hike and plans for further rate hikes show that the Federal Reserve doesn’t believe the Inflation Reduction Act will work
On Thursday’s broadcast of C-SPAN’s “Washington Journal,” Rep. Adriano Espaillat (D-NY) responded to a question on what more the Federal Reserve should do and Congress could do to combat inflation by stating that declines in gas prices and low unemployment
Fed officials have a very wide range of projections for Fed policy two years from now.
Jerome Powell took up arms against a sea of troubles on Wednesday.
