BOSTON FED
Fed governors stake out competing views of inflation risk
Federal Reserve Governors Michelle Bowman and Lisa Cook expressed differing views on future monetary policy. While Bowman urged caution due to persistent inflation, Cook expressed confidence in continued easing of price pressures. Their perspectives highlight the factors influencing the Fed's decision on a potential interest rate cut at its December meeting.
Fed's Collins says tech changes can improve financial system
"We must all be attuned to the very real risks and challenges" resulting from technical innovations, Collins said in the text of a speech for an event at her bank.
Oil settles down 2% on weaker Chinese demand, uncertainty over Fed rate cut
Oil prices dropped over 2% on Friday, driven by concerns about weakening demand from China and the potential for slower interest rate cuts by the U.S. Federal Reserve. China's factory output slowed, and its demand for oil decreased, while U.S. economic data was stronger than anticipated, potentially influencing the Fed's decision on rate cuts.
Gold prices steady with Fed minutes on tap
Gold prices remain steady ahead of the release of the Federal Reserve's September meeting minutes. Traders anticipate signals on U.S. interest rate policies and are also eyeing upcoming CPI and PPI reports. Boston Fed President suggests likely interest rate cuts amid weaker inflation trends, while geopolitical tensions in the Middle East persist.
Fed hawks and doves: What US central bankers are saying
U.S. central bankers reduced the interest rate target by half a percentage point in September. Federal Reserve Chair Jerome Powell stated that this significant reduction shows confidence in reaching the 2% inflation target, and it should not indicate future cut rates' pace. Policymakers are divided between focusing on inflation risks and labor market concerns.
Dollar firm following sharp rebound as Fed speakers eyed
The dollar held steady after its biggest rally since June, as traders awaited speeches from key Federal Reserve policymakers for clues on interest rate cuts. Investors reassessed the aggressiveness of future rate reductions, with Fed officials showing differing views. The dollar index eased slightly, while other major currencies saw minor changes.
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Dollar slips in choppy trading as traders grapple with Fed's giant rate cut
The U.S. dollar experienced volatility after the Federal Reserve's unexpected 50 basis point interest rate cut, signaling a shift to an easing monetary policy. The dollar index fell to its lowest in over a year, while currencies like the euro and sterling strengthened. Investors are now anticipating further rate cuts globally.
Traders bet on more easing as Fed opts for half-point rate cut
Traders increased their bets on future US interest-rate cuts after the Federal Reserve reduced its benchmark by half a point. The market now expects another 70 basis points of reductions this year, despite officials forecasting only a half-point cut in 2024. Treasury yields rose following the Fed's decision and remarks by Chair Jerome Powell.
US Fed expected to announce its first interest rate cut since 2020
The Federal Reserve is set to announce its first interest rate cut in over four years, just weeks before the US presidential election. With inflation easing and the labor market cooling, policymakers are debating a 25 or 50 basis point cut. The decision aims to balance economic stability and growth.
US dollar drops to near 9-month low versus yen amid talk of larger Fed rate cut
The U.S. dollar dropped to its lowest level in nearly nine months against the Japanese yen amid speculation of a potential 50-basis-point interest rate cut by the Federal Reserve. Market expectations shifted following media reports and comments from a former Fed official. The dollar also weakened against other major currencies, while U.S. consumer sentiment showed improvement.
Wall Street Week Ahead: Size, speed of rate moves in focus as Fed poised to start cuts
The Federal Reserve's upcoming monetary policy meeting has markets on edge, with uncertainty over the extent of interest rate cuts. Investors are keenly watching for signals on economic projections and future rate outlooks, as market bets fluctuate between a 25 and 50 basis point cut.
Wall Street ends slightly down after weak labor market data, dovish Fed comments
U.S. stocks ended slightly down in volatile trading after labor market data and comments from a Federal Reserve official suggested an interest rate cut might be imminent. Job openings fell to a 3-1/2-year low, potentially supporting the Fed's decision. Nvidia and other tech stocks slipped, while Tesla shares rose.
Fed policymakers agree on need for rate cuts, but their reasons vary
U.S. central bankers are likely to cut interest rates at their upcoming meeting, driven by a range of economic data showing cooling inflation and a stable labor market. While some policymakers remain cautious, most agree that reducing rates is necessary to prevent undue damage to the job market and support economic stability.
PGA Tour postseason could use a little variety in its venues: Analysis
The PGA Tour is considering new incentives for the top seed at the FedEx Cup finale, including letting them choose the venue. The current venue, East Lake, has changed significantly, causing mixed feelings among players. The Tour aims to build continuity while planning for potential changes to enhance player participation and excitement.
With Fed's shift to job market risks done, policy now has to catch up
In 2022, the Federal Reserve focused on combating inflation by rapidly raising interest rates. Two years later, the focus has shifted to protecting the job market, with potential rate cuts on the horizon. Fed Chair Jerome Powell's recent speech at the Jackson Hole conference highlighted the need to address job market risks. The economy is at a critical juncture as officials debate the pace and extent of rate cuts to maintain full employment.
Fed policymakers flag rate cuts as job market cools
Federal Reserve officials are poised to begin lowering U.S. interest rates next month due to a decline in inflation and a cooling labor market. Philadelphia Fed Bank President Patrick Harker and Boston Fed President Susan Collins support gradual cuts, while Kansas City Fed Bank President Jeff Schmid remains cautious, emphasizing the importance of incoming data.
Fed's policy patience warranted amid still-high inflation, Collins says
"The appropriate approach to monetary policy continues to require patience, providing time for a methodical and holistic assessment of the evolving constellation of available data," Collins said.
Dollar wobbles as markets await more Fed clues; RBA meeting in focus
The dollar weakened against the euro and sterling as concerns about a far-right French government eased. Market focus shifted to key reports and comments from the Federal Reserve for rate cut clues.
S&P 500, Nasdaq close at record highs as data supports Fed easing
S&P 500 and Nasdaq hit record highs on Wednesday fueled by tech stocks amid expectations of Fed's easing cycle, impacting various sectors and economic indicators.
Fed officials urge patience on timing of initial rate cut
The timeline was echoed by Cleveland Fed President Loretta Mester in comments on Tuesday night at an Atlanta Fed conference.
Longer for higher rates may dim gold¡¯s shine next week
Next week, US CPI data will be released, which will be crucial for gold. In case of hotter-than-expected inflation data, gold will fall. The bullion rally has coincided with a rally in risk assets and bonds.
Wall Street stocks finish higher as investors focus on Fed moves
Tesla shares surged 15.3%, after the electric vehicle maker made progress in securing regulatory approval to launch its advanced driver-assistance program in China, its second-largest market after the U.S.
Dow leads Wall Street declines ahead of economic data
Market focus is back on the Fed's monetary policy path after a frenzy around artificial intelligence (AI) in the previous week eclipsed concerns about delayed rate cuts and pushed the S&P 500 and Dow Jones industrials to new peaks.
Fed hawks, doves, and centrists: How US central bankers' views are changing
The following chart offers a look at how officials currently stack up on their outlooks for Fed policy and how to balance their goals of stable prices and full employment. The designations are based on comments and published remarks; for more on the thinking that shaped these hawk-dove designations, click on the photos in this graphic
US stocks market: S&P 500, Dow falls as Treasury yields rise, investors digest inflation data
After the data, the S&P 500 spent the morning zig-zagging between red and green. It turned decisively lower after a 1 p.m. EDT (1700 GMT) auction of 30-year U.S. Treasuries met weak demand.
Fed's Collins open to rate-hike pause at June meeting
Boston Federal Reserve President, Susan Collins, suggests a pause in raising interest rates to evaluate the effect of past interest rate hikes on economic activity. Inflation remains high, however, there are early signs of moderation; the Federal Open Market Committee (FOMC) may pause from raising interest rates given the restrained banking sector and calm inflation. The next FOMC meeting is due to take place on 13-14 June and a pause will allow a complete evaluation of the information available at the time. However, many reserve officials still reserve the possibility of taking action if needed.
Jerome Powell may face more opposition as Fed choices get tougher
With inflation as high as 9% in the past year, Powell's colleagues were all-in on the fight to curb price pressures, with another 25 basis-point hike expected Wednesday that might be the concluding increase. Yet that consensus is already showing signs of splintering, amid inflation that remains too high while Fed staff - and many private economists - see a recession in coming months.
Fed refocuses on job market as financial risks ease and inflation remains high
Economists anticipate what from the Fed's perspective will be a middling result for March, a month marred by the largest bank failures since the 2007-2009 financial crisis, events that for a brief time at least shifted policymakers' main attention from inflation to financial stability.
Fed's Collins says "early days" still in assessing policy impact on economy
It is "early days yet in terms of assessing whether we really have gone as far as we need to go," Collins said in an interview on Bloomberg Television following the release of data showing consumer spending was basically flat in February after a large jump in January.
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