Gas station signboards in Bethesda, Maryland displayed the prices on August 6, 2023. The consumer price index (CPI) report for Thursday is expected to show a slowdown in the pace of price increases, but not enough to sway the Federal Reserve from their fight against inflation. According to the Wall Street consensus, the CPI will …
Jeffrey Schmid, the new president and CEO of the Kansas City Fed. Courtesy: Federal Reserve Bank of Kansas City The Kansas City Federal Reserve is set to welcome its new leader as it charts its path forward in combating inflation. Jeffrey R. Schmid, a seasoned regulator and banker with over 40 years of experience, will …
In the current scenario, effectively managing risk is paramount for investors regardless of how interest rates fluctuate, as emphasized by Terry Duffy, the CEO of CME Group. During an interview on CNBC’s “Fast Money” on Wednesday, Duffy stated, “Over the past year, every prediction I’ve heard about the Federal Reserve’s actions has been completely inaccurate. …
The Federal Reserve, in a highly anticipated move, has approved an interest rate hike that brings benchmark borrowing costs to their highest level in over 22 years. The central bank’s Federal Open Market Committee (FOMC) raised its funds rate by a quarter percentage point, setting a target range of 5.25% to 5.5%. This midpoint of …
WASHINGTON, DC – JUNE 21: Federal Reserve Chairman Jerome Powell testifies before the House Committee on Financial Services June 21, 2023 in Washington, D.C. Powell testified on the Federal Reserve’s Semi-Annual Monetary Policy Report during the hearing. Win Mcnamee | Getty Images News | Getty Images Despite an improving inflation picture, the Federal Reserve is …
The Marriner S. Eccles Federal Reserve building in Washington. Stefani Reynolds/Bloomberg via Getty Images Experts anticipate that the Federal Reserve will likely raise rates by a quarter of a point at the conclusion of its upcoming meeting, following a pause last month. Fed officials have repeatedly expressed concern over the impact of rising costs on …
Inflation may be showing signs of cooling down, but the battle to bring down the soaring prices of the past three years is far from over. Recent reports indicating a slowdown in price growth have provided some optimism, but it’s important to note that these numbers only reflect relative rates of change and fail to …
The Senate Banking Committee has given its approval to President Joe Biden’s nominations for the Federal Reserve Board of Governors. This paves the way for a vote in the full Senate later this year. One of the approved nominees is Philip Jefferson, who is nominated for the position of vice chair of the Federal Reserve. …
A man walks past a “now hiring” sign posted outside of a restaurant in Arlington, Virginia on June 3, 2022. Olivier Douliery | AFP | Getty Images The U.S. labor market continues to thrive, despite efforts to cool it down through interest rate hikes. From January to May 2023, job growth has reached nearly 1.6 …
During their June meeting, nearly all Federal Reserve officials indicated that there would likely be further policy tightening, albeit at a slower pace compared to the rapid rate increases seen since early 2022, as revealed in the recently released minutes. Despite the expectation of future rate increases, policymakers decided against a rate hike in June …