Federal Reserve officials are sharply divided over how aggressively to cut interest rates, with some warning that the central bank risks falling dangerously behind in addressing a deteriorating labor market while others remain focused on stubborn inflation that has persisted well above target for more than four years.
The September purchasing managers’ indexes from S&P Global showed companies in manufacturing and services reported sharply higher input costs, which they primarily attributed to tariffs. But weak demand and fierce competition prevented most from raising prices, leading to the weakest goods inflation since January.
By the time Federal Reserve Chairman Jerome Powell climbs the stage at Jackson Hole this Friday, the familiar choreography will be missing one element: consensus.
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Federal Reserve Governor Michelle Bowman said on Tuesday that she expects the central bank will have to hike rates further to bring inflation down to its two percent target. “My baseline economic outlook continues to expect that we will need to increase
The annual monetary policy conference in Jackson Hole, Wyoming, has the potential to produce some explosive results.
Federal Reserve officials are working overtime to jawbone the market away from the conviction that the Fed will cut rates several times this year.
Even though Wall Street is betting on an interest rate cut, the Federal Reserve could hike rates at its next meeting in June, Breitbart Economics Editor John Carney explained.
The Federal Reserve fired a shot across the bow of market complacency on interest rates.
Bowman says that “additional monetary policy tightening will likely be appropriate” if inflation continues to run high.