Federal Reserve - Page 12

Persistently high inflation would justify the Fed moving faster on winding down its bond purchases, Powell told a Senate panel Tuesday.

After months of delayed decision making, President Biden has decided to nominate Fed chair Jerome Powell for a second term.

During a Wednesday interview on Fox Business Network’s “Mornings with Maria,” Rep. French Hill (R-AR) warned that President Joe Biden’s reshaping of the Federal Reserve could result in the country being “taken over by inflation.”

On Tuesday’s “PBS NewsHour,” economist Larry Summers said that inflation is “threatening to become a spiral,” there needs to be quick action to stop the “inflationary psychology” that currently exists, and that if inflation grows, “it’s going to be very

Allianz chief economic adviser Mohamed El-Erian on Monday warned of the “implications” of the Federal Reserve’s stance that inflation is transitory.

Chinese state media warned on Friday that high U.S. inflation caused by President Joe Biden’s policies is threatening the prosperity of the entire world.

The left is demanding President Biden replace Randall Quarles with someone who will push its climate change and racial “equity” agenda on the financial sector.

Powell on Friday sounded a note of heightened concern about inflation and supply-side strains on the economy.

All-cargo air shipping companies this week warned President Biden the vaccine mandate will wreak havoc on the supply chain by increasing worker shortages across the industry, Politico reported Thursday.

Fed officials will be banned from owning individual stocks and bonds under the new rules. Nancy Pelosi and others in Congress remain free to trade.

The Federal Reserve said Wednesday vaccine mandates hurting economic employment, which has resulted in exasperating President Biden’s supply chain crisis. 

All around the country, Fed officials are hearing of “significantly elevated prices.”

The Atlanta Fed president says it is becoming increasingly clear that the intense and widespread supply chain disruptions will not be brief.

The top one percent of richest Americans now hold more wealth than the entire American middle class, data from the Federal Reserve reveal. 

Teen Vogue asks: “What Is the Federal Reserve and Why Does It Matter?” It gets both answers wrong.

The Federal Reserve is “the brainchild of six white men” which favors corporate America and Wall Street “instead of for struggling workers,” according to an op-ed published in Teen Vogue on Tuesday.

At a hearing on Tuesday, Senator Warren said that Fed chair Jerome Powell’s bank supervision policies were putting the country at risk of a 2008-style financial crisis.

Eric Rosengren cited health concerns in announcing his earlier than expected retirement.

Fed officials now expect inflation to run at 4.2 percent this year, up from 3.4 percent at the June meeting.

The Fed noted on Wednesday that the economy has made progress toward price stability and full employment. If progress continues as expected, a reduction in bond purchases “may soon be warranted.”

Shortages of workers and key inputs are slowing everything from retail to manufacturing while prices keep rising.

The so-called radical-left squad demanded President Joe Biden to oust Federal Reserve Chair Jerome Powell, urging him to appoint a new chair with radical views such as racial justice and climate activism.

The minutes of the Fed’s late July meeting appear to confirm the idea that Fed officials think the economy is strong enough to justify removing extraordinary monetary stimulus.

Excluding food and energy, consumer prices were 3.5 percent higher last month than they were in June 2020, the briskest pace of inflation since the summer of 1991 and an acceleration from a month ago.

Government-decreed lockdowns helped Big Tech gain trillions of dollars in valuation, said Carol Roth, author of The War on Small Business.

The Federal Reserve largely shrugged off inflation fears while saying Wednesday that the U.S. economy is strengthening. “Inflation has risen, largely reflecting transitory factors,” the Fed said in its monetary policy statement. The Fed said the economy is making progress

Teeka Tiwari, editor of a financial newsletter from the Palm Beach Research Group — and advertising sponsor of Breitbart News — said Monday that bitcoin and other cryptocurrencies will likely become checks against central banks’ printing of money.

Powell said Wednesday that “people need to have faith” that the Fed can stop inflation if it gets too high.

Economists surveyed this month by the Wall Street Journal raised their forecasts of how high inflation would go and for how long, compared with their previous expectations in April.

Desmond Lachman, an economist and senior fellow with the American Enterprise Institute (AEI), told Breitbart News on Sunday that the U.S. is beginning to resemble a Latin American country given its inflation, government spending, and printing of money.

Less than two weeks after announcing a doubling of its dividend and plans to buy back $18 billion of stock, Wells Fargo said that it is terminating its customers’ personal lines of credit.

U.S. stock prices and bond yields tumbled Thursday as doubts grew about the global economy’s ability to keep expanding rapidly.

Fed officials are not just divided over when to taper. They also disagree about how to reduce their bond purchases.

The Fed left its key interest rate target and bond buying program unchanged at the end of its two-day meeting Wednesday. But the projections of Fed officials show that they see more inflation and more growth by the end of the year than they did at the end of their March meeting.

A study by a trio of economists shows that the narrative accompanying official Federal Reserve forecasts can be used to predict economic surprises.

Federal Reserve Chairman Jerome Powell said Friday climate change is a threat to the global economy and called for the United States to lead a coordinated response to that threat.