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Top related persons:
Cleveland Federal Reserve Bank Loretta Mester - 2 Jerome Powell's - 1 Powell - 1 Jun Rong - 1 JACKSON - 1 Mester - 1 Ann Saphir - 1 Marguerita Choy - 1
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Jackson Hole , Wyoming , WYOMING
Top related orgs:
Cleveland Federal Reserve Bank - 2 Aurum - 1 U.S - 1 Federal - 1 IG - 1 U.S . - 1 Thomson - 1

Search resuls for: "Cleveland Federal Reserve Bank"


7 mentions found


☆ Gold holds ground as markets gauge U.S. rate outlook
  + stars: | 2023-08-28 | by ( ) www.cnbc.com   time to read: +2 min
Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold prices firmed on Monday despite U.S. Federal Reserve Chair Jerome Powell's hawkish stance on interest rates as markets sought direction from economic data this week for confirmation on the rate trajectory. Spot gold was up 0.1% at $1,916.19 per ounce by 0354 GMT, U.S. gold futures gained 0.2% to $1,943.90. "However, much still awaits on a sustained recovery in gold prices for now, given that concerns of re-accelerating inflation on U.S. economic resilience are translating into mounting bets of a November rate hike." A series of economic data this week, with the U.S. non-farm payroll report on Friday will likely to provide a sharper focus on the economy's strength.
Persons: Jerome Powell's, Powell, Jun Rong, Cleveland Federal Reserve Bank Loretta Mester Organizations: Aurum, U.S, Federal, IG, Cleveland Federal Reserve Bank, U.S . Locations: Jackson Hole , Wyoming
☆ Fed's Mester sees another rate hike, says rate cuts may have to wait
  + stars: | 2023-08-26 | by ( Ann Saphir Howard Schneider | Ann Saphir | Howard Schneider | ) www.reuters.com   time to read: +3 min
"The longer we let inflation remain above 2%, we're building in a higher and higher price level," she said, and that hurts American households. "I'm going to have to reassess that because, again, it's going to be, how quickly do you think inflation is moving down?" "I do not want to be in a position of prematurely loosening policy," Mester said. Fed projections submitted in June show a median forecast for 2.1% inflation by the end of 2025; Mester said hers was for 2% inflation. The Fed's next and possibly last rate hike "doesn't necessarily have to be September, but I think this year," she said.
Persons: JACKSON, Cleveland Federal Reserve Bank Loretta Mester, Mester, Ann Saphir, Marguerita Choy Organizations: Cleveland Federal Reserve Bank, Reuters, Thomson Locations: , WYOMING, Jackson Hole , Wyoming
☆ Gold slips on firmer dollar ahead of US payrolls data
  + stars: | 2023-04-06 | by ( ) www.reuters.com   time to read: +2 min
[1/2] Gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File PhotoApril 6 (Reuters) - Gold prices fell on Thursday as the dollar firmed ahead of a much awaited U.S. non-farm payrolls report, as investors sought clarity on whether the Federal Reserve might take a breather on its monetary tightening path. * Investors now await Friday's non-farm payrolls report for March, with economists polled by Reuters expecting new jobs of about 240,000. * Markets see a 54.2% chance of the Fed standing pat on interest rates in May, according to the CME FedWatch tool. * While gold is traditionally considered a hedge against inflation, higher interest rates dim non-yielding bullion's appeal.
☆ Gold off one-year highs as dollar firms ahead of U.S. payrolls data
  + stars: | 2023-04-06 | by ( ) www.cnbc.com   time to read: +2 min
Gold prices slipped from one-year highs on Thursday as the dollar regained some ground, while investors awaited the U.S. non-farm payrolls report to gage the Federal Reserve's monetary policy strategy. The economic data points this week were major components supporting gold prices, he added, while also noting some profit-booking ahead of the Good Friday holiday. Wednesday's data showed the U.S. services sector slowed more than expected in March. While gold is traditionally considered a hedge against inflation and economic uncertainties, higher interest rates dim non-yielding bullion's appeal. Markets see a 53.8% chance of the Fed standing pat on interest rates in May, according to CME's FedWatch tool.
☆ Dollar gains after days of losses, but outlook still bleak on Fed pause view
  + stars: | 2023-04-05 | by ( Gertrude Chavez-Dreyfuss Amanda Cooper | Gertrude Chavez-Dreyfuss | Amanda Cooper | ) www.reuters.com   time to read: +4 min
The underlying trend though for the dollar remained tilted to the downside and Wednesday's U.S. private sector jobs numbers affirmed that. The ADP National Employment report showed U.S. private employers hired far fewer workers than expected in March, suggesting a cooling labor market. Private employment increased by 145,000 jobs last month. Economists polled by Reuters had forecast private employment increasing 200,000. Another report on Wednesday also indicated continued economic weakness, this time in the services sector.
☆ Fed's Mester sees rates rising more than most policy makers have forecast
  + stars: | 2022-12-16 | by ( Michael S. Derby | ) www.reuters.com   time to read: +1 min
Dec 16 (Reuters) - Cleveland Federal Reserve bank President Loretta Mester said on Friday that she believes the U.S. central bank will have to raise interest rates higher than the level most policy makers cited in their Fed forecasts this week. "We need to continue to bring up interest rates into a restrictive stance," Mester said. Mester has been a voting member of the rate setting Federal Open Market Committee this year but will not hold that role next year. Mester said recent inflation data pointing to moderating price increases is "good news." Reporting by Michael S. Derby; Editing by Leslie Adler and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.
☆ Fed doesn't set policy in global vacuum: Mester
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +1 min
Cleveland Federal Reserve Bank President Loretta Mester poses during an interview on the sidelines of the American Economic Association’s annual meeting in San Diego, California, U.S., January 3, 2020. REUTERS/ Ann Saphir/File PhotoSept 26 (Reuters) - The Federal Reserve takes into account global factors like the strength of the dollar as it sets interest rates, though it ultimately makes policy decisions based on domestic goals, Cleveland Fed President Loretta Mester said on Monday. "We've seen what's going on in financial markets. The mechanism will be through the financial markets, and whether they are functioning or not," Mester said on a day of heightened financial market volatility that included a steep drop in the value of the pound. "We are going to set monetary policy that's appropriate for the U.S. economy, but we don't set it in a vacuum thinking that we are an independent island and we are not connected to the rest of the world."
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