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...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...Additional reporting by James Politi in Washington...
...Most of last week I was in Switzerland, at a Bank for International Settlements conference. (Unhedged is now just me, until I find a replacement for the irreplaceable Ethan.)...
...There was most consensus on the need to publish rate paths, which Bernanke backed away from including as a formal recommendation Over in Washington, Bank of England types have been remarkably dovish....
...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...The head of the New York Federal Reserve said he still expects inflation to drift towards the US central bank’s 2 per cent goal, despite some bumpy recent readings....
...Federal Reserve chair Jay Powell has acknowledged it will likely take “longer than expected” for inflation to return to the US central bank’s 2 per cent goal and cut interest rates....
...A Federal Reserve poll on financial stability has highlighted markets’ concerns over high interest rates, just days after central bank chair Jay Powell signalled borrowing costs would have to remain at a...
...Even so, some economists believe recent US data — notably on inflation — will force the central bank to be more cautious....
...s decision to keep the benchmark federal funds target between 5.25 per cent and 5.5 per cent was reached unanimously, according to a statement released from the US central bank after the meeting.Rate-setters...
...A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of cutting interest rates from their current 23-year high....
...Investors are pushing back their expectations of interest rate cuts around the world, as the US Federal Reserve’s battle with price pressures complicates other central banks’ loosening plans....
...US central bank officials still expect to be able to cut interest rates three times this year, despite the “persistence of high inflation” at the start of this year, according to minutes of the Federal Reserve...
...Some expect the Federal Open Market Committee to upgrade its 1.4 per cent GDP growth estimate for this year then too....
...Powell was speaking in Washington just hours after European Central Bank president Christine Lagarde signalled the central bank could begin lowering interest rates in June....
...A top Federal Reserve official has said risks to the US central bank’s dual mandate of low inflation and full employment “are moving into better balance”, paving the way for rate cuts this year....
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...Deposit costs at the largest US banks rose more than interest revenue last quarter for the first time since the Federal Reserve began raising rates two years ago, as savers demanded lenders share the benefits...
...Loretta Mester, president of the Cleveland Federal Reserve and a voting member of the Federal Open Market Committee, revealed in a speech on Tuesday that she had raised her estimate of the longer-run federal...
...The flipside to higher interest rates is people also want more for their savings....
...A senior European Central Bank executive has said publishing the interest rate forecasts of its policymakers — similar to the US Federal Reserve’s so-called “dot plot” — could help to address shortfalls...
...A top Federal Reserve official has said “disappointing” inflation data means the US central bank should “push back” the timing of interest rate cuts....
...Federal Reserve chair Jay Powell has said he still expects inflation to fall towards the US central bank’s 2 per cent goal, as new data highlighted the bumpy road ahead for officials as they debate when...
...Their forecasts will land at 2pm Eastern time today (6pm GMT), along with the bank’s latest decision on interest rates....
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