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....
...“I’m still there at this point. But, of course, we’ll have to see how the economy evolves,” Mester said. She added there was “no feeling now that we have to rush”....
...Loretta Mester, president of the Cleveland Fed and a voting member on the Federal Open Market Committee next year, pushed back on expectations that the central bank will abruptly pivot towards lowering borrowing...
...Fedspeak: Federal Reserve chair Jay Powell will testify before the Senate committee on banking, housing and urban affairs....
...Read more on Powell’s remarks and the latest timing of any rate cut. More reaction to Powell’s comments: European stock markets had their worst day for nine months following Powell’s remarks. 3....
...“I don’t have a stance on that,” Powell said. “It’s not something I’m focused on . . ....
...But Powell’s stern sounds yesterday could easily turn serene tomorrow....
...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....
...Powell set markets on this uncertain path last August when he described the Fed as “navigating by the stars under cloudy skies”....
...The Federal Reserve’s rate-setters still expect to make about three quarter-point rate cuts this year, its chair Jay Powell said in an interview that aired last night....
...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....
...Powell last week articulated the US reason that supply capacity might be rising even faster than demand....
...Fed chair Jay Powell said on Tuesday it was likely to take “longer than expected” for inflation to reach the target level that would allow the central bank to cut rates....
...Monetary policy: Cleveland Fed president Loretta Mester will deliver a speech at the Ohio Bankers League economic summit....
...It was around, if I’m not mistaken, from the late 1960s to the late ’90s....
...That’s the inflation gauge where Jay Powell has already won....
...Powell appears to be ignoring those signs, but I’m not — and I think the move in gold is just the commodity market coming to the same conclusions I have....
...Last week, Fed chair Jay Powell told a Senate hearing that commercial real estate does pose a risk to a number of small and mid-sized banks. “There will be more failures,” Powell said....
...However, chair Jay Powell recently hinted he supported a pause, pointing to the number of rate rises the Fed has implemented....
...And here’s what else I’m keeping tabs on today: Economic data: US government data is expected to show that job openings in February fell to 8.7mn from about 8.9mn in January....
...Here’s what I’m keeping tabs on today and over the weekend: Election 2024: US President Joe Biden will travel to a campaign event in Philadelphia, while former president Donald Trump will host Hungarian...
...Dimon served on Trump’s shortlived business advisory group in 2017 and has said he “would try to help any president of the United States because I’m a patriot”....
...Jay Powell’s Federal Reserve dithered on raising interest rates until it had no choice but to act....
...I’m Claire Jones, the Financial Times’ acting US economics editor and I’m standing in for Chris Giles this week....
...Powell semi-annual testimony: Federal Reserve chair Jay Powell will testify before the Senate Banking Committee....
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