"The speeding up or front-loading of hikes makes little difference to recession risk," Posen said. "If they raise the projected terminal rate of this hiking cycle from around 3 percent to more than 4 percent, that indicates that they may need a recession to bring down inflation," Posen s...
The Federal Open Market Committee (FOMC), the Fed's policy-making body, decided to raise the target range for the federal funds rate to 1.5 to 1.75 percent and "anticipates that ongoing increases in the target range will be appropriate." The statement showed that 10 committee members voted ...
TheFederal Reservewill wait until 2023 before raising interest rates, according to a majority of economists in a Reuters poll who nonetheless said the greater risk for the U.S. economy was persistently higher inflation over the coming year. While half the members of the U.S. centra...
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Esther George, president of the Federal Reserve Bank of Kansas City, preferred to raise the target range for the federal funds rate by a half percentage point to 1.25 percent to 1.5 percent. The Fed's newly released quarterly economic projections showed that Fed officials' median projection of ...
The "dot plot" shows that 12 of the 18 Fed officials think rates should rise to at least 5.5 percent to 5.75 percent by the end of this year, with three of them believing rates should be even higher. That means the Fed may raise rates by 50 basis points later this year. ...
If the Fed does choose to raise rates, that could mean an uptick in the interest rates offered by banks for consumer savings products, including high-yield savings accounts and certificates of deposit (CDs). Shop for the best high-yield savings rate you can find online today.What happens if...
The Fed has not yet made a decision on whether to raise interest rates at its July meeting, but according to the CME FedWatch Tool, traders currently see over 70 percent chance of a quarter percentage point rate hike in July. Powell said that it is still possible to achieve the inflation...
Following a rate increase in March, Jay H. Bryson, chief economist at Wells Fargo Securities, expected the Fed to raise rates 25 basis points per quarter through the third quarter of 2023, bringing the federal funds rate to 1.75 percent to 2.00 percent. ...
"We're not going to let high inflation become entrenched. The costs of that would be too high," Fed Chair Jerome Powell said on Wednesday afternoon at a virtual press conference, adding every Fed meeting is "a live meeting" regarding raising interest rates. ...