Federal Reserve Chair Jerome Powell reiterated his expectation that it will likely be appropriate to begin lowering rates ‘at some point this year.’
Fed
Posted inBusiness, Nation & World
Powell says Fed wants to see ‘more good inflation readings’ before it can cut rates
The resulting higher borrowing costs helped bring inflation down – from a peak of 9.1% in June 2022 to 3.2% last month.
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Posted inBusiness, Nation & World, News
Powell reiterates Fed needs more confidence on inflation to cut
Federal Reserve Chair Jerome Powell is on Capitol Hill for the first of 2 days of his semiannual monetary policy testimony and is scheduled to appear before the Senate Banking Committee on Thursday.
Posted inBusiness
Federal Reserve’s favored inflation gauge tumbles in November as prices continue to ease
Friday’s report from the Commerce Department showed that U.S. consumer prices slid 0.1% last month from October and rose 2.6% from November 2022.
Posted inBusiness, Nation & World
Fed’s Powell notes inflation is easing but downplays discussion of interest rate cuts
Powell’s remarks Friday follow comments from a raft of Fed officials this week, with most of them signaling that the Fed can afford to keep its key rate steady in the coming months.
Posted inBusiness, Nation & World
Applications for unemployment benefits fall to lowest level in 7 months
Recent government data also showed that job openings dropped to 8.8 million in July, the fewest since March 2021 and down from 9.2 million in June.
Posted inBusiness, Nation & World, Uncategorized
Hopeful signs of an economic ‘soft landing’ emerge in Jackson Hole as Fed meets with world watching
Business these days in Jackson Hole, Wyoming, is still good – just not as robust as it was after the U.S. economy roared out of the pandemic recession.
Posted inOp-eds, Opinion
Commentary: Yes, a recession is still a possibility
Predictions of a ‘soft landing’ seem both premature and hard to square with some of the data.
Posted inBusiness, Nation & World, News, Politics
Fed Chair reinforces likelihood of more interest rate hikes due to persistently high inflation
The central bank has raised its benchmark rate aggressively since March 2022 in a push to slow the economy and reduce inflationary pressure.
Posted inBusiness, Nation & World, News
Fed’s Powell says higher interest rates needed to curb inflation
The Federal Open Market Committee paused its series of interest-rate increases last week for the first time in 15 months, leaving rates in a range of 5% to 5.25%.