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Search resuls for: "Howard Schneider Ann Saphir Michael S. Derby"


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☆ Fed's Powell says inflation battle not won, more rate hikes coming
  + stars: | 2022-12-14 | by ( Howard Schneider Ann Saphir Michael S. Derby | Howard Schneider | Ann Saphir | ) www.reuters.com   time to read: +6 min
He described the slow rate of economic growth penciled in by Fed officials next year as still "modest." Only two of 19 Fed officials see the benchmark overnight interest rate staying below 5% next year, a sign of a still broad consensus to lean against inflation. In the U.S. Treasury market, which plays a key role in the transmission of Fed policy decisions into the real economy, yields were little changed to slightly lower. Powell said the speed of coming rate rises is less critical now than earlier in the year when the central bank was "front-loading" rate hikes to catch up with accelerating prices. "Our focus right now is really on moving our policy stance to one that is restrictive enough to ensure a return of inflation to our 2% goal over time, it's not on rate cuts," Powell said.
☆ Fed pledges more rate hikes despite fears of economy stalling
  + stars: | 2022-12-14 | by ( Howard Schneider Ann Saphir Michael S. Derby | Howard Schneider | Ann Saphir | ) www.reuters.com   time to read: +5 min
[1/3] Federal Reserve Board Chairman Jerome Powell speaks during a news conference following the announcement that the Federal Reserve raised interest rates by half a percentage point, at the Federal Reserve Building in Washington, U.S., December 14, 2022. The Fed's policy rate, which began the year at the near-zero level, is now in a target range of 4.25% to 4.50%, the highest since late 2007. In the U.S. Treasury market, which plays a key role in the transmission of Fed policy decisions into the real economy, yields were little changed. "It's not as important how fast we go," Powell said, noting the bigger question facing policymakers is where the endpoint of the Fed rate hikes is and how long it stays at that level. Any debate over easing rates would only happen when officials are confident inflation is moving down, he said.
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