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...“It feels like a problem we’ll be working on for years,” Powell said about the exposure of regional banks to commercial real estate, particularly offices, that are less valuable than they were before the...
...“We’ll need greater confidence that inflation is moving sustainably toward 2 per cent before it would be appropriate to ease policy,” he said....
...“We’ve said at the [Federal Open Market Committee] that we’ll need greater confidence that inflation is moving sustainably towards 2 per cent before it would be appropriate to ease policy,” Powell said on...
...Powell said in San Francisco. “Our position is we don’t know. We’ll tell you what we’ll do if inflation does come down. That’s the base case, that’s what we expect.”...
...But Powell’s stern sounds yesterday could easily turn serene tomorrow....
...“I don’t think it’s likely that we’ll reach a level of confidence by the time of the March meeting . . ....
...UBS’s base case is still for two cuts this year, because of Powell’s comments....
...I think the idea of recession in 2024 is overplayed right now — and Powell is trying to pour cold water on the idea that we’ll see the start of new rate cuts by May, if not before....
...Later this year, I’ll start as Asia correspondent at The Economist, where I’ll be based in Singapore....
...“Our confidence level that we’ll get to that stronger realisation environment is high. Picking the timing of that is harder,” said Gray....
...And Powell has already said that policy is sufficiently restrictive.”...
...Today we’ll be talking about: Biden and Trump’s latest fundraising figures The CNN chief executive’s approach to election coverage What voters think of raising taxes on corporations and the rich Joe...
...We’ll stay tuned for more details....
...When Jay Powell said in December that the Federal Reserve would lower interest rates by 25 basis points three times in 2024, markets read that as many as six....
...He is also viewed as a potential pick for Treasury secretary, or to succeed Federal Reserve chair Jay Powell in 2026....
...Marc Filippino All right, we’ll keep an eye out for what’s going to happen in today’s summit and what will happen with Orbán in the EU. Ben Hall is the FT’s Europe editor. Thanks, Ben....
...“We’ll watch the data,” he says, with perceptibly rising ennui. Yet the SEP tells us things, whether the chair likes it or not....
...[Free to read] Fed chair Jay Powell has said the US’s inflation fight “is not done”, an important economic message to voters straining under higher interest rates....
...We’ll be keeping an ear out as Powell speaks on Wednesday. (Ethan Wu) Are we in a profits recession? A little while ago Bloomberg published a short piece which has stuck in my mind ever since....
...I’ll be keeping an ear out for indications that the Fed might soon slow the pace of quantitative tightening. Let me know what you’ll be watching: ethan.wu@ft.com....
...All right, Katie we’ll be back in a moment with Long/Short. [MUSIC PLAYING] Welcome back....
...In early November, Powell sounded the alarm about an excessive tightening of financial conditions....
...“We’ll do the things that we think are right for the economy when we think [it] is the right time. That’s what we always do.”...
...You might think a more explicit promise to buy a bajillion dollars of government debt is the best way to quell any financial turmoil, but if you were around for the 2012 or 2020 versions you’ll probably...
...We’ll be watching how chair Jay Powell frames the argument in his press conference, where he speaks for the whole committee....
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