The Fed is now expected to continue raising rates and then keep them there, a CNBC survey finds

US Federal Reserve Chairman Jerome Powell gives a press conference after the surprise announcement that the FED will cut interest rates on March 3, 2020 in Washington, DC. Eric Baradat | AFP | Getty Images Wall Street finally seems to be embracing the idea that the Federal Reserve will hike rates into restrictive territory and … Read more

Falling gas prices raise hopes that inflation will slow, New York Fed research shows

People shop at a supermarket in Montebello, California on August 23, 2022. Frederic J. Brown | AFP | Getty Images Lower gas prices are fueling optimism that inflation is declining, according to a survey by the New York Federal Reserve on Monday. Respondents to the central bank’s August survey of consumer expectations said they expect … Read more

Bank of America shifts recession call to first half of 2023

There is good news in Bank of America’s expectation that the economy is heading for a recession: the contraction now looks likely to start later than expected and is still expected to be shallow by historical standards. Previously, the bank’s economists had anticipated the decline to start later in 2022. But with the labor market … Read more

Fed Waller sees ‘significant’ rate hike this month and backs data-driven approach

Christopher Waller, US President Donald Trump’s nominee for governor of the Federal Reserve, speaks at a Senate Banking Committee hearing in Washington, DC, US, on Thursday, February 13, 2020. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Governor Christopher Waller echoed his colleagues’ recent sentiments on Friday and said he expects a major rate … Read more

Fed Vice President Brainard pledges ‘we’ll be in this as long as it takes’ to stop inflation

Federal Reserve Vice-Chairman Lael Brainard vowed Wednesday to fight inflation, which she says is hurting lower-income Americans the most. That means more rate hikes and higher interest rates for longer, she said in comments prepared for a speech in New York. “We’ll be in this for as long as it takes to curb inflation,” the … Read more

Market braces for another three-quarter-point hike from the Fed this month

Federal Reserve Board chairman Jerome Powell speaks at a press conference in Washington, DC, on July 27, 2022. Mandel Ngan | AFP | Getty Images Traders now see near certainty that the Federal Reserve will implement its third consecutive 0.75 percentage point rate hike when it meets later this month. According to the FedWatch tracker … Read more

Private payrolls grew by just 132,000 . in August

On August 5, 2022 in Manhattan, New York City, a hiring sign can be seen in a cafe as the United States Department of Labor released its July employment report. Andrew Kelly | Reuters According to payroll processing firm ADP, companies sharply slowed the pace of hiring in August amid growing fears of an economic … Read more

SHOCK July 2022:

On August 5, 2022, in San Rafael, California, a “Now Hiring” sign was posted in a Home Depot store. Justin Sullivan | Getty Images There were nearly 1 million more job openings than expected in July, an inflationary sign that the U.S. job market is still extremely tight, the Bureau of Labor Statistics reported Tuesday. … Read more

Fed rate hikes won’t curb inflation if spending stays high, paper says

John C. Williams, president and chief executive officer of the Federal Reserve Bank of New York, Lael Brainard, vice chairman of the Federal Reserve Board of Governors, and Jerome Powell, chairman of the Federal Reserve, hiking in Teton National Park where financial leaders from around the world gathered for the Jackson Hole Economic Symposium outside … Read more

Fed Minutes July 2022:

Federal Reserve officials indicated at their July meeting that they probably wouldn’t consider withdrawing rate hikes until inflation fell significantly, according to minutes of the session released Wednesday. At a meeting in which the central bank approved a 0.75 percentage point rate hike, policymakers expressed their determination to push inflation well above the Fed’s target … Read more