U.S. Growth and Inflation Revised Up, Heightening Fed’s Challenge
Consumer spending was stronger than reported and prices higher.
Federal Reserve - Page 8
Cleveland Fed Pres: 2023 Will Have Inflation above Target Rate, ‘Very Low Growth Environment’ with Recession Risk
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
Labor Sec’y Walsh: ‘Haven’t Seen What the Impacts Are’ of Fed Hikes, I Know We’re Still Adding Jobs
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
Fmr. Obama Treasury Counselor Rattner: Powell Got Inflation Wrong Because WH Was Wrong and He’s ‘a Team Player’
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
Breitbart Business Digest: To Anticipate the Fed’s Next Move, Watch the Jobs Numbers
If you want to figure out where monetary policy is heading next, watch the labor market.
Breitbart Business Digest: The Journey Matters Less Than the Destination for Powell’s Fed
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 Hikes Interest Rates 0.75% as It Struggles Against Highest Inflation in Decades
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.
Fed Fail: Job Openings Unexpectedly Rose in September
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.
Breitbart Business Digest: The ‘Potential’ Problem for Economic Growth and Inflation
The staff of the Federal Reserve board believe the potential output of the U.S. economy is even lower than thought.
Breitbart Business Digest: The Fed Wants the Rest of the Economy to Look Like the Housing Market
The U.S. economy has decoupled from itself. The bad news is that the Federal Reserve wants to put it back together.
Warren: Republicans Want the Fed to ‘Raise Interest Rates and Put Millions of People out of Work’
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
Breitbart Business Digest: More Jobs = More Inflation = More Fed Hikes
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.
NYT’s Smialek: ‘Too Hot’ Labor Market ‘a Recipe for Higher Inflation’ and ‘Bad News’ for Fed
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
SF Fed President: Inflation Means People ‘Can’t Afford the Things They Could Afford Last Month’
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
UN Agency Calls Fed Rate Hikes an ‘Imprudent Gamble’
A U.N. Agency wants the Fed to change its policy path to benefit the developing world.
CNBC’s Gumede: Economy Looks Worse than Fed Would Like, Markets Will Struggle until Inflation’s Controlled
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.
Cleveland Fed President: ‘People Expect Inflation to Remain High over the Next Year’ and That’s Feeding Salary Demands, Price Setting
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
Cleveland Fed President: We’ve Had ‘Beginning of a Transition’ to ‘Much More Persistent’ Services Inflation
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.
U.S. Home Prices Fall For First Time Since 2012, Largest Ever Deceleration
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.
Atlanta Fed Chief Bostic: Central Bank Working to Avoid ‘Deep, Deep Pain’
“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.
GOP Rep. Massie: Rate Hikes Show Even the Fed Thinks the Inflation Reduction Act Won’t Work
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
Dem Rep. Espaillat: Don’t Need Further Action Because Inflation Will ‘Eventually’ Start Declining Due to Low Unemployment, Gas Prices
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
Breitbart Business Digest: High Inflation Broke the Fed Consensus
Fed officials have a very wide range of projections for Fed policy two years from now.
Breitbart Business Digest: Powell Versus Biden and Warren
Jerome Powell took up arms against a sea of troubles on Wednesday.
Elizabeth Warren Slams Fed’s Interest Rate Hike as ‘Extreme’
Sen. Elizabeth Warren (D-MA) issued sharp criticism directed at the Federal Reserve over its decision to once again raise interest rates by 75 basis points.
Fed Officials Sharply Raise Their Forecasts of Rates and Unemployment, Downgrade GDP
Fed officials now see a much higher unemployment rate and much lower path for GDP growth.
Fed Hikes Key Interest Rate 75 Basis Points
Investors had expected a 75 basis point raise, although markets indicated an outside chance of an even larger hike.
Breitbart Business Digest: Is the Fed Too Focused on the Long Run?
The Federal Reserve is convinced that inflation expectations are extremely important. But are they right about which inflation expectations? The consensus view among Fed officials appears to be that longterm inflation expectations deserve the most attention. When Fed officials look
Fmr. Obama Treasury Counselor Rattner on Inflation: ‘Now We’re Paying the Price’ of ‘Too Much Stimulus’
On Wednesday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, stated that the government “went too far in trying to mute the effects of the pandemic, too much stimulus” in
Yellen Won’t Say Inflation Is Near Peak, Hopes for ‘Substantial Improvement Over the Coming Year’ and Sees Decline ‘Over Time’ Due to Fed
During a portion of an interview with CBS aired on Wednesday’s edition of “CBS Evening News,” Treasury Secretary Janet Yellen declined to say that inflation is near its peak and stated she doesn’t want to insert herself into forecasting things
Labor Sec’y Walsh: I Disagree with Fed that More Unemployment ‘Might Be Good,’ I Want ‘More Money’ in the Economy
During an interview aired on Thursday’s edition of Comedy Central’s “Daily Show,” Labor Secretary Marty Walsh stated that while “the Fed has said, at some point, having a little bit of unemployment might be good,” he wants “to do everything
Powell Says Fed Will Raise Rates to Tame Inflation ‘Until The Job is Done’
The Fed chairman’s responses to a Cato Institute Q&A appeared to confirm that the Fed is planning a jumbo 75 basis point rate hike this month.
Breitbart Business Digest: Brainard Makes the Case Against Inflation to the Democratic Left
Fed officials are likely to increase their interest rate target by three-quarters of a percentage point at their policy meeting this month.
Fed Finds Economy Teetering Between Slight Growth and Contraction
The Federal Reserve’s beige book described the economy as “unchanged” from July, indicating little growth in some regions and a shrinking economy in others.
Richmond Fed President: ‘I Wish We’d Done Less’ Fiscal and Monetary Stimulus in 2021
On Wednesday’s broadcast of West Virginia MetroNews’ “Talkline with Hoppy Kercheval,” Federal Reserve Bank of Richmond President and CEO Tom Barkin stated that while fiscal and monetary stimulus was needed in early 2020, “if you look at 2021, there was still
Breitbart Business Digest: Surging Job Openings Foreclose Hopes of Labor Market Cooling
The number of open jobs in the United States rose in July, defying predictions that vacancies would fall for a fourth straight month and dashing hopes that the Federal Reserve’s monetary policy tightening had already throttled demand for labor.
Warren: ‘Very Worried’ Fed Will ‘Tip this Economy into a Recession’
Senator Elizabeth Warren (D-MA) said Sunday on CNN’s “State of the Union” that she is “very worried” that the Federal Reserve will “tip this economy into a recession.”
European Natural Gas Prices Approach Record High as Russia Sanctions War Bites
(AFP) – European natural gas prices climbed Thursday towards a record peak on heightened fears over Russian supplies, while equities rose on the eve of a key speech from Federal Reserve Chair Jerome Powell.
Powell Warns of ‘Unfortunate Costs’ and ‘Pain’ in Fight Against Inflation
“While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation,” Powell said.
Fed’s Preferred Inflation Indicator Cooled as Consumers Tightened Purse Strings
Consumer spending grew by less than expected, helping cool core prices in July.
