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☆ Fed's Bowman says it will likely be appropriate to raise rates again
▼ + stars: | 2023-10-07 | by ( ) www.reuters.com time to read: +2 min

U.S. Federal Reserve Governor Michelle Bowman gives her first public remarks as a Fed policymaker at an American Bankers Association conference in San Diego, California, U.S., February 11 2019. REUTERS/Ann Saphir/File Photo Acquire Licensing RightsOct 7 (Reuters) - Federal Reserve Governor Michelle Bowman on Saturday repeated her view that inflation continues to be too high despite "considerable" progress in lowering it, and the U.S. central bank will likely need to tighten monetary policy further. "I expect it will likely be appropriate for the (Fed) to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Bowman said in prepared remarks to the Connecticut Bankers Association. The comments were largely identical to those Bowman made on Monday about the economic and policy outlook. Bowman, one of the Fed's most hawkish policymakers, said the latest employment report reflected "solid" job growth.

Persons: Michelle Bowman, Ann Saphir, Bowman, Paul Simao Organizations: Federal, American Bankers Association, REUTERS, Connecticut Bankers Association, U.S . Labor Department, Thomson Locations: San Diego , California, U.S

Despite considerable progress, she said, "inflation continues to be too high, and I expect it will likely be appropriate for the (Fed) to raise rates further and hold them at a restrictive level for some time." The Fed targets 2% inflation. Given that progress, U.S. central bankers last month opted to keep the policy rate in its current 5.25%-5.50% range even as most signaled another rate hike would likely be needed before year's end. Speaking at a separate event in New York on Monday, Fed Vice Chair for Supervision Michael Barr said he believes rates are now "at or very near" a sufficiently restrictive level. The same Fed forecasts also show policymakers as a group expect stronger economic growth and a stronger job market than they had expected just three months earlier.

Persons: Michelle Bowman, Ann Saphir, Michael Barr, Barr, Jerome Powell, John Williams, Bowman, Thomas Barkin, we've, Dan Burns, Pete Schroeder, Anna Driver, Andrea Ricci Organizations: U.S . Federal, Hoover Institution, REUTES, . Federal Reserve, Fed, New, New York Fed, Richmond Fed, Thomson Locations: Palo Alto , California, U.S, New York, York , Pennsylvania

☆ Fed's Bowman: Expects it to be appropriate to raise rates further
▼ + stars: | 2023-10-02 | by ( ) www.reuters.com time to read: +2 min

U.S. Federal Reserve Governor Michelle Bowman gives her first public remarks as a Fed policymaker at an American Bankers Association conference in San Diego, California, U.S., February 11 2019. Bowman, in prepared remarks to a banking conference, said inflation remains too high and expects progress in lowering it to be slow "given the current level of monetary policy restraint." Bowman again also took issue with a slate of regulatory proposals being considered by the Fed and other U.S. bank overseers. She said regulators seem to be engaging in "heavy-handed" supervision and should consider if such an approach is appropriate. Reporting By Dan Burns and Pete Schroeder; Editing by Anna DriverOur Standards: The Thomson Reuters Trust Principles.

Persons: Michelle Bowman, Ann Saphir, Bowman, Dan Burns, Pete Schroeder, Anna Driver Organizations: Federal, American Bankers Association, REUTERS, Energy, Market, Fed, Thomson Locations: San Diego , California, U.S

☆ Fmr. Fed Governor Daniel Tarullo: It's hard to see how mid-size banks survive in present form
▼ + stars: | 2023-09-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Fed Governor Daniel Tarullo: It's hard to see how mid-size banks survive in present formDaniel Tarullo, Harvard Law School professor and former Federal Reserve Governor, joins 'Squawk Box' to discuss the Fed's inflation fight, the impact of high rates on regional banks, and more.

Persons: Daniel Tarullo Organizations: Fed, Harvard Law School, Federal Reserve

☆ Dollar up as data highlights US economic resilience; yen slumps
▼ + stars: | 2023-09-22 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. The data comes on the heels of disappointing data from Europe, which showed that economic activity in France fell much more quickly than expected in September. Separate survey data covering the whole euro zone showed that the economy likely contracted in the third quarter. The yen dropped as low as 148.42 to the dollar, nearing the 150-mark at which analysts have said government intervention to prop up the currency is likely. BOJ maintains ultra-low interest ratesMeanwhile, sterling was 0.47% lower at $1.2237 after data showed that the UK economy slowed sharply in September and is likely on the brink of recession.

Persons: Florence Lo, Michael Brown, Brown, Michelle Bowman, Kazuo Ueda, we've, Alvin Tan, Shunichi Suzuki, BoE, Saqib Iqbal Ahmed, Harry Robertson, Rae Wee, Sharon Singleton, Matthew Lewis Organizations: U.S, REUTERS, P Global, Federal, Trader, Federal Reserve, Bank of Japan, Asia FX, RBC Capital Markets, Bank of England, Thomson Locations: United States, U.S, Europe, France, Asia, Tokyo, New York, London, Singapore

☆ Former Fed Governor Daniel Tarullo: I'm a little concerned the Fed has been 'too backward-looking'
▼ + stars: | 2023-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed Governor Daniel Tarullo: I'm a little concerned the Fed has been 'too backward-looking'Daniel Tarullo, Harvard Law School professor and former Federal Reserve Governor, joins 'Squawk Box' to discuss the Fed's latest decision to pause interest rate hikes, why he thinks the central bank is too backward-looking, the impact on the economy, and more.

Persons: Daniel Tarullo Organizations: Former, Harvard Law School, Federal Reserve

☆ Fed's inflation fight isn't done yet despite good progress, says former Fed governor
▼ + stars: | 2023-09-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's inflation fight isn't done yet despite good progress, says former Fed governorFrederic Mishkin, former Federal Reserve governor, joins 'Squawk Box' to discuss Mishkin's thoughs on the next Federal Reserve meeting, what the Federal Reserve is aiming to do in September, and what's keeping the economy afloat.

Persons: Frederic Mishkin Organizations: Federal Reserve, Reserve

☆ The strong economic data may mean another year-end rate hike, says former Fed Governor Kroszner
▼ + stars: | 2023-09-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe strong economic data may mean another year-end rate hike, says former Fed Governor KrosznerRandy Kroszner, former Federal Reserve governor and economics professor at the University of Chicago Booth of School Business, joins 'Squawk on the Street' to discuss whether the Fed will need to raise rates further, macro headwinds impacting the downward trajectory of inflation, and tracking the pace of long invariable lags.

Persons: Kroszner Randy Kroszner, University of Chicago Booth Organizations: Federal Reserve, University of Chicago, University of Chicago Booth of School Business

Fed Governor Philip Jefferson testifies before a Senate Banking Committee hearing on his nomination to be the Federal Reserve's next vice chair, on Capitol Hill in Washington, U.S., June 21, 2023. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsSept 6 (Reuters) - A broad bipartisan majority of the U.S. Senate on Wednesday voted to confirm Federal Reserve Governor Philip Jefferson as vice chair of the U.S. central bank. Senators are expected later on Wednesday to also take up the nominations of Fed Governor Lisa Cook to a new 14-year term, and of World Bank economist Adriana Kugler to fill the last open seat at the seven-member Fed Board. Jefferson and Cook joined the Fed in May 2022 and have voted for all of the Fed's rate hikes since then. Reporting by Ann Saphir; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Philip Jefferson, Jonathan Ernst, Lisa Cook, Adriana Kugler, Cook, Ann Saphir, Chizu Organizations: Federal, Capitol, REUTERS, U.S . Senate, World Bank, Fed, Jefferson, Thomson Locations: Washington , U.S, U.S

☆ Gold slides to 1-week low on elevated US dollar, yields
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: +2 min

Gold and silver bars of various sizes lie in a safe on a table at the precious metals dealer Pro Aurum. Gold prices extended losses to hit their lowest level in a week on Wednesday as U.S. Treasury yields and the dollar strengthened on expectations that interest rates are likely to remain high. The U.S. dollar hovered near six-month highs hit on Tuesday, while 10-year bond yields were at over one-week highs as markets weighed cues on interest rates. Federal Reserve Governor Christopher Waller said the latest round of economic data was giving the U.S. central bank space to see if it needs to raise interest rates again. Higher U.S. interest rates and Treasury bond yields raise the opportunity cost of holding gold, which does not earn any interest.

Persons: Christopher Waller, Jun Rong Organizations: Aurum, Treasury, U.S, Federal, CPI, Higher, Trust Locations: .

☆ Dollar firm on growth worries, fragile yen draws warning
▼ + stars: | 2023-09-06 | by ( ) www.cnbc.com time to read: +2 min

The yen was at 147.66 per dollar in early Asian hours, just shy of 147.8 per dollar, the lowest since Nov. 4 it touched overnight. The Asian currency has hovered around the key 145 per dollar level for the past few weeks, leading traders to keep a wary eye on signs of an intervention. "We won't rule out any options if speculative moves persist," Japan's top currency diplomat Masato Kanda told reporters on Wednesday. Against a basket of currencies, the dollar rose 0.067% to 104.80, not far off the six-month high of 104.90 it touched overnight. The euro was unchanged at $1.0721 in Asian hours, having breached a three-month low of $1.0705 overnight.

Persons: Masato Kanda, Christopher Wong, Sterling, Christopher Waller Organizations: Ministry of Finance, Federal, U.S, Reserve Bank of Australia Locations: China, Kanda, Singapore, Europe, Britain

☆ CNBC Daily Open: Rising oil prices reignite inflation fears
▼ + stars: | 2023-09-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets under pressureU.S. stocks fell Tuesday, weighed down by higher oil prices and rising Treasury yields. 'Hell of a good week of data'Last week, we learned inflation is moderating as expected and the jobs market is loosening. In turn, the investment bank thinks the possibility that the Fed will hike rates in September is "off the table."

Persons: Christopher Waller, Goldman Sachs Organizations: CNBC, P Global, New York Stock Exchange, Tech, Nvidia, Intel, Samsung, Saudi Press Agency, West Texas, Federal, Goldman Locations: Saudi Arabia, Russia, Brent, U.S

Federal Reserve Governor and Vice Chair-designate Philip Jefferson poses for a photograph on the sidelines of the Kansas City Federal Reserve Bank's annual Economic Policy Symposium in Jackson Hole, Wyoming, U.S., August 25, 2023. REUTERS/Ann Saphir Acquire Licensing RightsWASHINGTON, Sept 5 (Reuters) - The U.S. Senate on Tuesday voted overwhelmingly to clear the way for the confirmation this week of Federal Reserve Governor Philip Jefferson to be vice chair of the U.S. central bank. President Joe Biden has also nominated Fed Governor Lisa Cook to a new 14-year term, and picked World Bank economist Adriana Kugler to fill the last open seat of the seven-member Fed Board. The Senate will vote on Cook and Kugler’s nominations in the next few days, Senator Sherrod Brown said before Jefferson vote. Jefferson and Cook have both voted for every rate hike since they joined the Fed in May 2022.

Persons: Philip Jefferson, Ann Saphir, Jerome Powell, Joe Biden, Lisa Cook, Adriana Kugler, Cook, Sherrod Brown, Jefferson, Chuck Schumer, Richard Cowan, Leslie Adler, Lincoln Organizations: Federal, Governor, Kansas City Federal, REUTERS, Rights, U.S, Senate, Federal Reserve, Jefferson, World Bank, Fed, Committee, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S

☆ US dollar rises on global growth worries; Aussie down
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

The Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. As a result the dollar is catching a solid safe haven bid," said Joe Manimbo, senior market analyst at Convera in Washington. The euro was down 0.69% after hitting a near 3-month low against the dollar at $1.07225. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shinjini Ganguli, Mike Harrison, William Maclean Organizations: REUTERS, Reserve Bank of, Fed, Federal, U.S, Financial, Aussie, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, London

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. The yield on the 10-year Treasury notes climbed to 4.25%, while two-year yield rose to 4.936%. Utilities (.SPLRCU) led declines among S&P 500 indexes, down nearly 2%, while China-exposed materials sector (.SPLRCM) fell 1.2%. Shares of Airbnb (ABNB.O) and Blackstone (BX.N) added 7.7% and 3.6%, respectively, as the companies were set to join the S&P 500 index. Declining issues outnumbered advancers for a 3.02-to-1 ratio on the NYSE and a 2.08-to-1 ratio on the Nasdaq.

Persons: Brendan McDermid, Blackstone, Hugh Anderson, Alibaba, Christopher Waller, Goldman Sachs, advancers, Shristi Achar, Arun Koyyur, Shounak Organizations: New York Stock Exchange, REUTERS, China, Dow, Nasdaq, Federal Reserve, HighTower Advisors, Labor, PDD Holdings, Baidu, Utilities, Nvidia, U.S, Traders, Federal, Dow Jones, Blackstone, Oracle, Barclays, NYSE, Thomson Locations: New York City, U.S, Las Vegas, Saudi Arabia, Russia, China, Bengaluru

☆ U.S. dollar lifted by worries over global growth; Aussie sinks
▼ + stars: | 2023-09-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNEW YORK, Sept 5 (Reuters) - The dollar rose on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency, while the Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The euro, was down 0.72% after hitting a near 3-month low against the dollar at $1.0719. The U.S. dollar also climbed against China's currency, and was last up 0.42% at 7.3081 against the yuan traded offshore. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Dado Ruvic, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin, Saqib Iqbal Ahmed, Alun John, Shri Navaratnam, Alexander Smith, Shinjini Ganguli, Mike Harrison Organizations: REUTERS, Aussie, Reserve Bank of, Fed, Federal, U.S, Financial, Thomson Locations: China, Reserve Bank of Australia, Europe, Washington, U.S, Britain, London

☆ Waller says recent data gives Fed space to decide next interest rate move
▼ + stars: | 2023-09-05 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

In recent days Fed officials have said that while inflation is still too high, it is coming down, and they have said that any move to lift the range for the benchmark overnight interest rate depends on the data. The Fed last raised rates in late July, pushing its policy rate to the 5.25%-5.50% range. Whether interest rates go up again "depends on the data. Instead, he saw the increase as a hand-in-hand move with Fed policy actions. The Fed wants higher market rates, and in terms of what's been seen in the government bond market, "they're not going off the charts, certainly compared to where we have the policy rate."

Persons: Christopher Waller, Waller, they're, Michael S, Chizu Nomiyama, Paul Simao Organizations: Federal, U.S, CNBC, U.S . Labor Department, Fed, Thomson

☆ Fed Governor Christopher Waller: Job market is beginning to soften
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Governor Christopher Waller: Job market is beginning to softenChristopher Waller, Federal Reserve governor, joins 'Squawk Box' to discuss Waller's thoughts on the latest batch of economic data, what made Waller comfortable with core PCE data, and how the U.S. economy lands from inflation.

Persons: Christopher Waller, Waller Organizations: Federal Reserve Locations: U.S

☆ U.S. dollar rises on global growth worries; Aussie down
▼ + stars: | 2023-09-05 | by ( ) www.cnbc.com time to read: +3 min

The dollar rose to a near six-month high against a basket of currencies on Tuesday as jitters over global growth, particularly in China, caused investors to flock to the safe-haven U.S. currency. The Aussie dollar slumped after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The euro was down 0.69% after hitting a near 3-month low against the dollar at $1.07225. A deteriorating global growth picture sent the pound to a 12-week low against the dollar after a survey showed business activity in Britain contracted last month.

Persons: Shane Oliver, Joe Manimbo, Christopher Waller, Waller, Convera's Manimbo, bitcoin Organizations: AMP, Reserve Bank of, Fed, Federal, U.S, Financial, Aussie Locations: Sydney, Australia, China, Reserve Bank of Australia, Europe, Washington, U.S, Britain

☆ US stocks trade mostly lower as jump in oil prices reignites inflation fears
▼ + stars: | 2023-09-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks traded mostly lower on Tuesday as a spike in oil prices reignited inflation fears. If inflation reaccelerates, it could force the Federal Reserve to continue with its interest rate hikes. Fed Governor Chris Waller said recent economic data suggests the Fed can "proceed carefully" with further rate hikes. According to the CME FedWatch Tool, futures are currently pricing in no more interest rate hikes for this cycle and a potential interest rate cut by May 2024. AdvertisementAdvertisementInvestors are awaiting more Fedspeak later this week to ascertain whether more interest rate hikes in store.

Persons: Chris Waller, Christopher Waller Organizations: Federal Reserve, Service, Federal, CNBC, Dow Jones Locations: Wall, Silicon, Saudi Arabia, Russia

☆ Fed Governor Waller agrees the central bank can 'proceed carefully' on interest rates
▼ + stars: | 2023-09-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Governor Christopher Waller said Tuesday that the recent round of strong economic data will buy the central bank some time as it decides whether additional interest rate hikes are needed to control inflation. "The biggest thing is just inflation," Waller said. "That depends on the data," Waller said when asked whether the rate increases can stop. Markets are assigning a near certainty to the chances that the Fed skips a rate rise at its Sept. 19-20 meeting. "It's not obvious that we're in real danger of doing a lot of damage to the job market, even if we raise rates one more time."

Persons: Christopher Waller, Waller, CNBC's Steve Liesman, We've, Goldman Sachs, Jerome Powell Organizations: Federal, Market, Group

☆ Jackson Hole Summit: What to expect
▼ + stars: | 2023-08-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJackson Hole Summit: What to expectRandy Kroszner, former Federal Reserve governor, joins 'Squawk on the Street' to discuss his thoughts on what to expect from the Jackson Hole Summit, what to expect from the Federal Funds rate next year, and more.

Persons: Randy Kroszner Organizations: Federal Reserve, Jackson, Summit, Federal

☆ Don't count out more rate hikes due to strong jobs market, former Fed governor Kroszner suggests
▼ + stars: | 2023-08-16 | by ( Natalie Zhang | ) www.cnbc.com time to read: 1 min

Don't count out additional interest rate hikes, according to former Federal Reserve governor Randall Kroszner. Kroszner, who's now a University of Chicago economics professor, believes rates are staying high into well next year. "I don't see how they can be comfortable to say, 'okay we're not going to be raising anymore' if the labor market is as strong as it is now," Kroszner told CNBC's "Fast Money" on Wednesday. Kroszner, who helped lead the response during the global financial crisis, thinks the Fed won't officially put the brakes on rate hikes until they "see some of the heat coming out of the labor market." He also believes Fed members will be at odds at what they need to see.

Persons: Randall Kroszner, who's, we're, Kroszner, CNBC's Organizations: Federal, University of Chicago, Fed

☆ What the highest interest rates in 16 years mean for you
▼ + stars: | 2023-08-10 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Bank prime loan rates, the interest rates banks charge creditworthy customers, are typically about 3 percentage points higher than the Fed funds rate. In the short term, the Fed funds rate also affects Treasury yields, or the interest rate the government pays on its debt obligations. These yields influence how much consumers pay on real estate and equipment, as they set a baseline for other interest rates. Ninety-day CD rates track almost identically to the Fed funds rate, meaning these CDs have paid higher interest rates as the Fed hikes rates. Large corporations also are directly affected by higher interest rates, as the cost of borrowing money also follows the Fed funds rate.

Persons: Michelle Bowman, stabler, WalletHub Organizations: Service, Fed, Federal Reserve, Federal, Market, Bank, Treasury Locations: Wall, Silicon

☆ Fed's Bowman says more US rate hikes likely will be needed
▼ + stars: | 2023-08-05 | by ( ) www.reuters.com time to read: +3 min

REUTES/Ann Saphir/File PhotoAug 5 (Reuters) - The U.S. Federal Reserve will likely need to raise interest rates further to bring down inflation, Governor Michelle Bowman said on Saturday. Bowman said she supported the Fed's quarter-point increase in interest rates last month, given still-high inflation, strong consumer spending, a rebound in the housing market and a labor market that is helping to feed higher prices. In forecasts published in June, most Fed policymakers expected to end the year with the Fed policy rate at 5.6%, one quarter-point hike above the setting established at the Fed's late-July meeting. Bowman's use of the plural "rate increases" in her remarks on Saturday indicates she thinks the Fed will need to go higher than that. "I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening."

Persons: Michelle Bowman, Ann Saphir, Bowman, Jerome Powell, Banks, Tom Hogue Organizations: Federal, Hoover Institution, REUTES, U.S . Federal Reserve, Kansas Bankers Association, Market Committee, Labor, Thomson Locations: Palo Alto , California, U.S

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