Fed Taper

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Fed’s George Says Higher US Savings May Also Mean Higher Rates Needed

(Bloomberg) — Kansas City Federal Reserve Bank President Esther George said ample US savings will help to buffer households but could also mean higher interest rates are needed to cool spending. George told a panel Tuesday in Santiago hosted by the Central Bank of Chile that if savings are concentrated in wealthier households who tend […]

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S&P 500 Suffers Worst ‘Fed Day’ Since January 2021: Markets Wrap

(Bloomberg) — Stocks sold off as Jerome Powell continued to sound unequivocally hawkish as the Federal Reserve pushes ahead with it most-aggressive tightening campaign since the 1980s to thwart inflation. In a session of several ups and downs, the S&P 500 suffered its worst rout on a Fed decision day since January 2021. Stocks moved […]

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Stocks Steady Ahead of Fed Meeting; Dollar Falls: Markets Wrap

(Bloomberg) — Equities erased early gains ahead of the Federal Reserve’s policy meeting Wednesday. A gauge of the dollar fell and gold rose. European stocks and US futures were little changed after euro-area manufacturing activity sank to the lowest level since the first Covid-19 lockdowns in 2020 as record inflation and a weakening global economy […]

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Goldman Sachs Now Sees Fed Rates Peaking at 5% in March

(Bloomberg) — Goldman Sachs Group Inc. economists said they now expect the US Federal Reserve to raise interest rates to 5%, higher than previously predicted. The central bank will lift its benchmark rate to a range of 4.75% to 5% in March, 25 basis points more than earlier expected, economists led by Jan Hatzius wrote […]

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The Market Is Underestimating Fed Risk Even After Rout, Bank of America Says

(Bloomberg) — A late-summer lull is nowhere to be seen in the stock market, with traders recalibrating their expectations after a blunt warning from the Federal Reserve chief in Jackson Hole. Most likely, they have a long ways to go. So say derivatives strategists at Bank of America Corp., who point to a disparity in […]

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Fed Minutes May Reveal Inclinations on Size of Next Rate Hike

(Bloomberg) — An account of the debate at the Federal Reserve’s July policy meeting, set to be published after two weeks of whiplash on Wall Street, will probably offer clues as to what would push the central bank to go big with tightening yet again in September. Fed officials’ decision at their July 26-27 gathering […]

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Federal Reserve

Fed to Inflict More Pain on Economy as It Readies Big Rate Hike

(Bloomberg) — The Federal Reserve will probably have to inflict much more pain on the economy to get inflation under control. Growth is already slowing in response to the Fed’s repeated interest rate increases, with the housing market softening, technology companies curbing hiring and unemployment claims edging up. But with inflation proving persistent at a […]

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Fed Rate Hikes
Fed Taper

Fed Delivers Fuzzier Rate Message as It Gauges Impact of Hikes

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. With half-point interest-rate increases all but certain in June and July, Federal Reserve officials are shifting the focus away from a destination on hikes to something that’s trickier to determine and explain: the broader impact of their […]

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Fed’s Waller Backs Half-Point Rate Hikes at ‘Several’ Meetings

(Bloomberg) — Federal Reserve Governor Christopher Waller said he wants to keep raising interest rates in half-percentage point steps until inflation is easing back toward the US central bank’s goal. “I support tightening policy by another 50 basis points for several meetings,” he said in remarks prepared for delivery on Monday in Frankfurt. “In particular, […]

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Traders Defy Fed Hawks as Half-Point Hike in July in Doubt

(Bloomberg) — Half-point rate hikes by the Federal Reserve at each of its next two policy meetings are no longer a sure thing for traders, even as policy makers reiterated an aggressive tightening stance. Swap contracts indicated on Wednesday that markets priced less than 100 basis points of combined rate hikes at the June and […]

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Bond Danger Builds With Fed Set to Break From Its Cautious Past

(Bloomberg) — The bond market, St. Louis Fed President James Bullard said on Thursday, “is not looking like a very safe place to be.” Few investors would argue with that — except, perhaps, to call it an understatement. New waves of selling engulfed the Treasury market over the past week, roiling investors and analysts who’ve […]

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Oil

Oil Slips With Hawkish Fed Comments, China Curbs Denting Rally

(Bloomberg) — Oil erased earlier gains as traders weighed hawkish comments from U.S. Federal Reserve officials and China’s promise to repair the economic damage caused by a spate of lockdowns. Global benchmark Brent traded below $112 a barrel after four days of gains. The bullish run in crude and other commodities are fanning inflation, and […]

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BlackRock Strategists Say Traders Are Wrong on Fed’s Rate Path

(Bloomberg) — Strategists from the world’s biggest asset manager are challenging traders betting that the Federal Reserve will raise rates to around 3% next year, saying that policy makers will raise borrowing costs to 2%, but not go much further. An overly aggressive path of hikes to combat the spiraling cost of living may backfire, […]

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Bridgewater Sees Market Turmoil on ‘Aggressive’ Fed Tightening

(Bloomberg) — Investors may be underestimating the need for “aggressive” monetary tightening from the Federal Reserve and other central banks to combat inflation, resulting in “significant risks” for markets, according to Bridgewater Associates. Following hawkish comments from the Fed Chair Jerome Powell last week, investors have brought forward expectations of tightening, pricing in five quarter-point […]

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Fed Kicks Off Most Aggressive Global Tightening in Decades

(Bloomberg) –Federal Reserve Chairman Jerome Powell fired the starting gun for potentially the biggest and fastest tightening of global monetary policy in years. His hawkish shift included not ruling out U.S. rate hikes at every meeting for the rest of 2022. Over the next week, about a half dozen other central banks, including the Bank […]

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