The Fed is set to keep rates on hold for a third meeting in a row next month, but that doesn't mean it's ready to discuss cuts yet. Officials need to be confident inflation is falling sustainably, meaning several more reports like October's CPI at minimum www.ft.com/content/2f8c...
The latest Fed minutes suggest little urgency from officials to hike again, even as they kept open the possibility of further tightening. All participants saw the need for rates to stay restrictive for "some time", indicating cuts are well off in the future www.federalreserve.gov/monetarypoli...
The Fed gets yet more evidence that there is little urgency to hike again with the policy rate at a 22-year high of 5.25-5.5%. Traders in fed funds futures markets are now pricing in earlier cuts, with half a percentage points' worth by the end of July www.ft.com/content/7928...
The return of productivity gains for the US economy - the latest FT column by Julia Coronado www.ft.com/content/4792...
St. Louis Fed president left in August: Still no replacement. Cleveland Fed's Loretta Mester retiring in June 2024. More at our "Who has to leave the Federal Reserve next?" www.brookings.edu/articles/who... Hutchins Center @BrookingsInst
David Wessel discuss upcoming turnovers at the Federal Reserve board and banks.
At an IMF event, Powell will warn against being "misled" by good data on prices, saying the mission to return inflation to the US central bank’s 2 per cent target had a "long way to go". Still, he will stress the need to "proceed carefully" with policy decisions, suggesting no urgency to hike
As the election nears, Biden struggles to sway voters who remain downbeat on the economy despite a solid jobs market/easing inflation "People want their old prices back — they want deflation, not disinflation" says eco advisor Jared Bernstein www.ft.com/content/2368...
Under pressure after a string of damning polls, the US president is resting his hopes for re-election on his personal economic blueprint
New FT big read w/ Sam Fleming & Martin Arnold about the current inflection point that central banks like the Fed, ECB and BoE are now at -- a point of minimum not maximum confidence in the outlook, warns ex-Fed staffer Joe Gagnon www.ft.com/content/c7e7...
Many of the major central banks have decided to hold rates steady, but few officials are yet declaring victory over inflation
Case-Shiller: National House Price Index Up 2.6% year-over-year in August; New all-time High "Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index ... rose 5.6 percent from August 2022 to August 2023 " calculatedrisk.substack.com/p/case-shill...
