Hints and tips:
...Loretta Mester, president of the Cleveland Fed and an FOMC voter, said on Tuesday that she still planned to cut rates three times — in line with what she thought back in December....
...Fedspeak: Federal Reserve chair Jay Powell will testify before the Senate committee on banking, housing and urban affairs....
...Jay Powell, the chair, has already conceded that the 4.6 per cent peak policy rate pencilled in three months ago — the last time the forecasts were published — will need to be raised “somewhat higher” owing...
...Fed chair Jay Powell said he did not think recent inflation readings had “really changed the overall story” of price pressures easing to 2 per cent....
...the range of comments in the past two weeks have been roughly bookended on the hawkish side by Atlanta Fed president Raphael Bostic and Fed governor Christopher Waller, and on the more moderate side by Cleveland...
...The catalyst was a dovish message from Fed chair Jay Powell, who struck a confident tone about the bank’s grip on inflation and conceded that a nascent debate was under way among officials about rate cuts...
...Cleveland Fed president Loretta Mester and Fed board governor Michelle Bowman speak at public events later today....
...Several members of the Fed’s policy committee are making speeches, including chair Jay Powell, Cleveland president Loretta Mester and head of the Richmond Fed Thomas Barkin....
...Monetary policy: Cleveland Fed president Loretta Mester will deliver a speech at the Ohio Bankers League economic summit....
...Powell semi-annual testimony: Federal Reserve chair Jay Powell will testify before the Senate Banking Committee....
...Federal Reserve Bank of New York President John Williams and Federal Reserve Bank of Cleveland President Loretta Mester also speak at public events today....
...It rapidly sent out the chairs of the New York, Atlanta and Cleveland regional Feds, John Williams, Raphael Bostic and Loretta Mester to hose down the exuberance....
...Harker is one of several Fed officials to signal support for “lift-off” in March, along with regional bank presidents Esther George of Kansas City, James Bullard of St Louis and Cleveland’s Loretta Mester...
...US Federal Reserve chair Jay Powell has said services inflation is the primary driver for higher costs for consumers within the US economy....
...However, chair Jay Powell recently hinted he supported a pause, pointing to the number of rate rises the Fed has implemented....
...We’re back from the Juneteenth market holiday, just in time to see Jay Powell appear before Congress tomorrow and Thursday....
...Since the meeting, two Fed officials, Cleveland Fed president Loretta Mester and St Louis Fed president James Bullard, said they would have supported a larger 50bp rate increase at the time....
...Fed chair Jay Powell warned earlier this month that taming inflation would take a “significant period of time”....
...Fed chair Jay Powell mentioned that newer economic literature suggests policy lags may actually be significantly shorter than initially thought. Do you subscribe to that view?...
...They were joined by Loretta Mester, president of the Cleveland Fed, who also struck a hawkish tone about the trajectory for inflation and what it will take for the Fed to bring prices back under control....
...However, chair Jay Powell recently said the so-called “terminal” rate would probably top the 4.6 per cent level that had previously been expected by most policymakers....
...“We’re getting to the real hard part here of how we assess trade-offs,” Loretta Mester, president of the Cleveland Fed, told the Financial Times earlier this month....
...In remarks delivered this week, chair Jay Powell said the need for higher rates stemmed from the fact that the Fed had seen “only tentative signs of moderation of labour demand”....
...Fed speech: Federal Reserve chair Jay Powell will speak on an economic policy panel at the European Central Bank’s forum in Portugal....
...Also on Thursday, Loretta Mester, president of the Cleveland Fed, welcomed the initial easing of inflationary pressures but cautioned that there may still be “upside risks” to the forecast....
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