Federal Reserve Bank of Philadelphia President Patrick Harker does not believe that the U.S. central bank will need to increase interest rates again and suggests holding steady to see how the economy responds, stating that the current restrictive stance should bring inflation down.
Investors brace for Federal Reserve Chair Jerome Powell's keynote address at the annual central banking symposium in Jackson Hole, which is expected to provide a sobering assessment of the long-term interest rate trajectory and has led to the dollar soaring and the euro/dollar exchange rate plunging to its lowest level in over two months.
Federal Reserve Chair Jerome H. Powell stated in a speech at the Jackson Hole symposium that the central bank is prepared to raise interest rates further if needed, signaling that they do not believe inflation is fully under control. The Fed will proceed cautiously and assess economic data as they determine whether to make further policy adjustments.
Two Federal Reserve officials, Boston Fed President Susan Collins and Philadelphia Fed President Patrick Harker, suggested that the Fed may be nearing the end of interest rate increases, although Collins did not rule out the possibility of further hikes if inflation doesn't decline.
Top central bankers, including Federal Reserve Chair Jerome Powell and European Central Bank President Christine Lagarde, emphasized the importance of keeping interest rates high until inflation is under control while also grappling with economic challenges and uncertainties at the annual Federal Reserve gathering in Jackson Hole, Wyoming.
Federal Reserve Chair Jerome Powell warned that inflation and economic growth remain too high and interest rates may continue to rise and remain restrictive for longer, while U.S. stocks rebounded and European markets closed slightly higher. Meanwhile, U.S. Trade Representative Katherine Tai highlighted China's dominance in rare earth metals and the vulnerability of U.S. supply chains. Grocery delivery company Instacart filed paperwork for an IPO, and upcoming PCE and jobs data will provide insights into the Fed's rate decisions. Powell's ambiguous remarks at the Jackson Hole symposium led markets to focus on the prospect of a stronger economy rather than interest rate warnings.
Mary C. Daly, president and CEO of the Federal Reserve Bank of San Francisco, discusses interest rates, inflation, and various economic topics in a recent interview, emphasizing the importance of collecting information and gradually bringing down inflation. She also highlights the robust job market and the stability of the banking system. However, she expresses concern about the commercial office real estate sector and the unequal distribution of economic hardships.
Federal Reserve Chair Jerome Powell highlighted ongoing challenges in the U.S. economy stemming from the COVID-19 pandemic, including labor shortages and access to childcare, during a meeting with community and business leaders in Pennsylvania.
Federal Reserve Chair Jerome Powell faced public concerns about inflation and economic uncertainty during a tour in Pennsylvania, as residents and business leaders expressed their struggles with rising prices and lack of predictability.
Treasury Secretary Janet Yellen is optimistic about the ability of American consumers, businesses, and banks to handle rising interest rates, and she believes the Federal Reserve's efforts to tame inflation are going well. She also dismissed concerns that a strong jobs report could have negative effects on the economy.
Federal Reserve Chair Jerome Powell's upcoming remarks at the Economic Club of New York may provide insight into the central bank's strategy on interest rates, potentially affecting the market and indicating if the Fed agrees with recent speakers who believe rate hikes are over.
Federal Reserve Chair Jerome Powell has expressed concerns about high inflation and emphasized the careful approach the Fed is taking, leaving the possibility of future interest rate hikes open despite signaling a potential pause in November. The Fed is also considering the impact of increasing Treasury yields on its policies.
Federal Reserve Board chairman Jay Powell spoke at the Economic Club of New York and emphasized the importance of humility and relying on evidence when making monetary policy, stating that the evidence suggests the economy is expanding at a solid pace.
