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Search resuls for: "Said Kashkari"


5 mentions found


☆ Fed's Kashkari sees another rate hike, then a hold
  + stars: | 2023-09-26 | by ( Ann Saphir | Thomson Reuters | Reports On The Federal Reserve | ) www.reuters.com   time to read: +2 min
"I'm one of those folks," said Kashkari, who is considered one of the Fed's more hawkish policymakers. Kashkari said that if inflation cools next year as expected, the Fed will need to cut rates to keep policy from tightening too much. But he also said he has been surprised by how well consumer spending has held up despite the Fed's rate hikes so far. "Everybody on the Federal Open Market Committee is committed" to bringing inflation back down to the Fed's 2% target, he said. Inflation by the Fed's preferred measure was 3.3% in July.
Persons: Neel Kashkari, Mike Segar, Kashkari, Ann Saphir, Himani Sarkar, Muralikumar Organizations: Federal Reserve Bank of Minneapolis, Reuters, REUTERS, Minneapolis Federal Reserve Bank, Wharton School of Business, Fed, U.S, Federal, Thomson Locations: New York City , New York, U.S, Minneapolis
☆ Morning Bid: Bond crush stifles markets as $134 billion hits
  + stars: | 2023-09-26 | by ( ) www.reuters.com   time to read: +6 min
The yield spike has supercharged the U.S. dollar worldwide - both a reflection and aggravator of mounting financial stress far and wide. As Deutsche Bank notes, this is historically significant territory as the average of the 10-year yield going back to 1799 is around 4.50%. The Treasury sells $48 billion in two-year notes on Tuesday, $49 billion in five-year paper on Wednesday and $37 billion in seven-year notes on Thursday. Minneapolis Fed Bank President Neel Kashkari said on Monday the Fed probably needs to raise borrowing rates further. Private sector bankers are starting to brace for the worst, with JP Morgan chief Jamie Dimon reported overnight as warning: "I am not sure if the world is prepared for 7% (Fed rates)."
Persons: Jose Luis Gonzalez, Mike Dolan, South Korea's, Sterling, haven't, Neel Kashkari, Said Kashkari, Austan Goolsbee, JP Morgan, Jamie Dimon, Christine Lagarde, China Evergrande, Michelle Bowman, Christina Fincher Organizations: REUTERS, Federal Reserve, U.S ., Bank of Japan, South, Treasury, Deutsche Bank, Minneapolis Fed, Chicago Fed, European Central Bank, ECB, Dallas Fed's, Chicago Fed's, HK, Richmond Fed, Dallas Fed, Philadelphia Fed, Costco, Cintas, Thomson, Reuters Locations: Ciudad Juarez, Mexico, U.S, Wall St, Asia, Europe, Philadelphia, Washington
☆ Fed's Kashkari says stress in banking sector brings the U.S. closer to recession
  + stars: | 2023-03-27 | by ( Jihye Lee | ) www.cnbc.com   time to read: +3 min
"What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch, just as you said, would then slow down the economy," Minneapolis Fed President Neel Kashkari said in an interview with CBS' Face The Nation. "What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch, just as you said, would then slow down the economy," he said. "But right now, it's unclear how much of an imprint these banking stresses are going to have on the economy.
☆ European markets head for higher open as the region's banks are watched closely
  + stars: | 2023-03-27 | by ( Holly Ellyatt | ) www.cnbc.com   time to read: +1 min
"And then that credit crunch, just as you said, would then slow down the economy." "The U.S. banking system is resilient, and it's sound," he said when asked about the stability of the banking system and its ability to control further risks seen in California and New York. "The banking system has a strong capital position and a lot of liquidity and has the full support of the Federal Reserve and other regulators standing behind it," said Kashkari. "I'm not saying that all of the stresses are behind us, I expect this process will take some time. But fundamentally, the banking system is sound," he said.
☆ Banking stress puts U.S. and Europe on watch for credit crunch
  + stars: | 2023-03-26 | by ( Howard Schneider Tom Sims | Howard Schneider | Tom Sims | ) www.reuters.com   time to read: +5 min
[1/3] The logo of Swiss bank Credit Suisse is seen in front of a branch office in Bern, Switzerland November 29, 2022. REUTERS/Arnd Wiegmann/File PhotoWASHINGTON/FRANKFURT, March 26 (Reuters) - Stress in the banking sector is being closely monitored for its potential to trigger a credit crunch, a U.S. Federal Reserve policymaker said on Sunday, as a European Central Bank official also flagged a possible tightening in lending. "What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. Meanwhile in Europe, the ECB believes that recent banking sector turmoil may result in lower growth and inflation rates, its vice president Luis de Guindos said. Turbulence among banking stocks on both sides of the Atlantic continued into the end of the week, despite efforts by politicians, central banks and regulators to dispel concerns.
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