(Bloomberg) — The Federal Reserve needs to raise interest rates significantly higher, to perhaps 6%, to reduce inflation, influential monetary economist John Taylor said on Friday. He told an economic conference in New York that rates were still “quite low” when measured in real, inflation-adjusted terms or when compared to monetary policy rules like the […]
Read More(Bloomberg) — Federal Reserve officials raised interest rates by 75 basis points for the third consecutive time and forecast they would reach 4.6% in 2023, stepping up their fight to curb US inflation that’s persisted near the highest levels since the 1980s. Wednesday’s decision by the Federal Open Market Committee, which was unanimous, lifts the […]
Read More(Bloomberg) —After a week to forget on Wall Street, the road gets even tougher for battle-weary investors with another hawkish policy gathering by the world’s most important central bank happening in the midst of what’s historically the worst month for US stock returns. Hedged-to-the-teeth stock managers are raising all manner of red flags for would-be […]
Read More(Bloomberg) — Losses loom for Asia’s stock market on Monday as investors absorb Federal Reserve Chair Jerome Powell’s stern message that interest rates are going higher for longer in a painful fight against inflation. Futures shed almost 2% for Japan and 1.5% for Australia after a 3.4% plunge in the S&P 500 index. The slide […]
Read More(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, […]
Read More(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 […]
Read More(Bloomberg) — Federal Reserve Bank of St. Louis President James Bullard said the central bank should front-load an aggressive series of interest-rate hikes to push rates to 3.5% at year’s end, which if successful would push down inflation and could lead to policy easing in 2023 or 2024. “I have also said we should get […]
Read More(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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