DIRS.INFO The most relevant business & tech news

☆ Fed officials are now considering fewer rate cuts this year
▼ + stars: | 2024-03-26 | by ( Elisabeth Buchwald | Bryan Mena | ) edition.cnn.com time to read: +7 min

That’s because some Federal Reserve officials are reconsidering forecasts they made three months ago that called for three rate cuts this year. The stakes are high because there are consequences if the Fed cuts rates soon or if it leaves rates where they’ve been for the past eight months. First rate cut hinges on inflation dataIn February, Bostic told CNN that the first rate cut could come “sometime in the summertime.” That’s also Wall Street’s current expectation. He hasn’t specified — and is unlikely to signal — the number of rate cuts he believes are appropriate for this year. He has cheered inflation’s descent and said further improvement could open the door to rate cuts — if that actually bears out.

Persons: they’ve, Raphael Bostic, ” Bostic, Bostic, That’s, Powell hasn’t, Price, Nam, ” David Page, Powell, Rather, Jerome Powell, Chip Somodevilla, Lisa Cook, Austan Goolsbee, ”, we’ve, we’re, Goolsbee, Christopher Waller Organizations: CNN, Federal Reserve, Atlanta Fed, Index, AXA, Federal, ”, Harvard University, Chicago, Yahoo Finance, Fed, San Francisco Fed Locations: New York

☆ Rate cuts likely won’t happen until the summer, Atlanta Fed chief says
▼ + stars: | 2024-02-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

Looking past a March cutSince the Fed’s first policy meeting this year, officials have worked together to temper market expectations on the timing of interest rate cuts. Bostic’s views on when it makes sense to start cutting rates are further out than the mid-year expectations most Fed officials have expressed, which is in line with current market expectations. In total, Fed officials anticipate three rate cuts this year, according to their latest Summary of Economic Projections, published at the end of last year. Economists expect the annual overall inflation rate measured by the Consumer Price Index to fall to 2.9% from December’s headline reading, according to FactSet consensus estimates. Fed officials like himself, he said, “live the economy too.”“I have to go to the grocery store like everybody else.

Persons: Don’t, Raphael Bostic, ”, Bostic, he’s, they’ve “, Jerome Powell, “ It’s, ” Bostic, “ I’ve, “ Organizations: New, New York CNN, Federal Reserve, Atlanta Fed, Federal, CNN, CBS, Consumer Locations: New York, Alabama, Florida, Georgia, Louisiana , Mississippi, Tennessee

☆ Fed's Bostic: possible Fed could lower rates in late 2024 - CNBC
▼ + stars: | 2023-10-20 | by ( Michael S. Derby | ) www.reuters.com time to read: +1 min

FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin, Ireland February 13, 2019. But that’s possible next year, and “I would say late 2024” is on the table for an easing, Bostic said. The policymaker, who does not hold a vote on the rate setting Federal Open Market Committee this year but will next year, has said in recent remarks he believes the Fed is done raising rates. Bostic said in the television appearance that information he’s picking up points to an economy which, while still possessing forward momentum, is losing speed. “When I talk to businesses, they all tell me the slowdown is coming,” Bostic said.

Persons: Federal Reserve Bank of Atlanta Raphael, Bostic, Clodagh, Raphael Bostic, “, ” Bostic, ”, “ I’ve, he’s Organizations: Federal Reserve Bank of Atlanta, REUTERS, CNBC Locations: Dublin, Ireland

☆ San Francisco Fed president: Silicon Valley Bank’s failure wasn’t our fault
▼ + stars: | 2023-07-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —Silicon Valley Bank failed because regulators were far too slow to take action, San Francisco Federal Reserve Bank President Mary Daly said Monday in her first extended remarks about the collapse. SVB operated in Daly’s district before the regional bank’s stunningly rapid failure in March, but she noted she doesn’t have a supervising role. Daly said the supervisors at the San Francisco Fed simply report issues to the Fed’s Board of Governors, which is ultimately responsible for fixing any regulatory issues. “My job is to support the supervision that the vice chair of supervision has set out, so how do I do that? The possibility of a rate hike in September remains unclear, though Powell said he wouldn’t take consecutive rate hikes off the table.

Persons: Mary Daly, SVB, ” Daly, Michael Barr, Democratic Sen, Elizabeth Warren, Daly, Jerome Powell, Warren, ”, Barr, it’s, It’s, Powell, Loretta Mester, Mester, “, Raphael Bostic, ” Bostic, ” — CNN’s Elisabeth Buchwald Organizations: DC CNN, Valley Bank, San Francisco Federal Reserve Bank, Brookings Institution, Signature Bank, First Republic Bank, Democratic, San Francisco Fed, Fed’s, of Governors, Fed, San Francisco, Cleveland Fed, University of California, Atlanta Fed, trickling, Cobb County Chamber of Commerce Locations: Washington, Daly’s district, Washington ,, San Francisco Fed, San Diego, Cobb County, Atlanta

☆ Fed may need to push rates higher, Bostic tells Bloomberg
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

Feb 6 (Reuters) - The U.S. Federal Reserve may need to lift borrowing costs higher than previously anticipated given the unexpectedly strong reading on jobs gains in January, Atlanta Federal Reserve Bank President Raphael Bostic said on Monday. Unless the report proves to be anomalous, “It’ll probably mean we have to do a little more work,” Bostic told Bloomberg News. “And I would expect that that would translate into us raising interest rates more than I have projected right now.”The Fed could also consider raising the rate by half-a-percentage-point, he told Bloomberg News, though that is not his base case. Bostic had previously said he expects the Fed to need to push its benchmark rate, now in the 4.5%-to-4.75% range, to the 5%-to-5.25% range in order to get policy sufficiently restrictive to bring inflation back down to the Fed's 2% target. Reporting by Ann Saphir in Berkeley, Calif.; Editing by Leslie Adler and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "” Bostic"

5 mentions found