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☆ The jobs number surpassed everyone’s expectations. Cue the complaints about the Fed
▼ + stars: | 2024-10-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

“Did the Fed even need to cut rates in September, let alone cut by 50bps (basis points)?” Seema Shah, chief global strategist at Principal Asset Management, wrote in a note on Friday. Second-guessing the Fed isn’t new, of course. Central bank officials themselves note the uncertainty inherent in their work, especially when the economy reaches inflection points. Even Fed officials don’t always agree with the central bank’s actions, such as Fed Governor Michelle Bowman, the lone dissenter to the Fed’s decision to cut rates by half a point in September. ‘This isn’t exact science’Fed officials aren’t shy about admitting that they don’t always have confidence in how the US economy will evolve.

Persons: Washington CNN —, Jerome Powell, Philipp Carlsson, Seema Shah, James Knightley, Powell, don’t, Michelle Bowman, wouldn’t, —, ” Carlsson, Szlezak, “, ” Gina Bolvin Organizations: Washington CNN, Federal Reserve, Boston Consulting, Asset Management, ING, Bolvin Wealth Management Locations: Wall, Washington

☆ Fed Chair Powell talks up progress on inflation but says rate cuts not imminent yet
▼ + stars: | 2024-07-09 | by ( Bryan Mena | ) edition.cnn.com time to read: +5 min

However, central bank officials still want to see more progress before cutting interest rates, he noted. “The most recent inflation readings, however, have shown some modest further progress, and more good data would strengthen our confidence that inflation is moving sustainably toward 2%,” he added. Fed officials expect to cut interest rates just once this year, according to their latest economic projections in June, compared to the three cuts they forecast in March. The annual PCE inflation rate registered at 2.6% in June, down slightly from 2.7% in May. Fed officials and most economists don’t see a recession this year.

Persons: Jerome Powell, ” Powell, Powell, Inflation, John Williams, ” Seema Shah Organizations: Washington CNN, Inflation, Committee, Financial, ” New York Fed, Congress, Fed, Asset Management Locations: India, United States

☆ Central bank interest rates: Is the global fight to tame inflation nearly over?
▼ + stars: | 2023-09-21 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —Central bankers have had to climb a metaphoric mountain over the past two years in the battle to control runaway inflation. The announcement came just hours after Switzerland’s central bank kept rates unchanged and a day after the US Federal Reserve did the same, holding its key lending rate in the range of 5.25% to 5.5%. “Central banks think they have raised interest rates enough to bring inflation down to their 2% targets in a couple of years’ time,” Paul Dales, chief UK economist at Capital Economics, told CNN. Key interest rates are now at levels that, if “maintained for a sufficiently long duration, will make a substantial contribution” to reducing inflation to its 2% target, the central bank said. “By this time next year, we anticipate that 21 out of the world’s 30 major central banks will be cutting interest rates.”

Persons: ” Paul Dales, “, Jerome Powell, Sarah Silbiger, Brent, Andrew Bailey, ” Seema Shah, ”, J.P, Morgan, Jennifer McKeown Organizations: London CNN —, Bank of England, US Federal Reserve, Capital Economics, CNN, European Central Bank, ECB, Federal, Washington DC, Bloomberg, Getty, European Union, EU, European Commission, Asset Management, “ Locations: United Kingdom, United States, Germany, Saudi Arabia, Russia

☆ What to expect from the Fed’s decision on rates
▼ + stars: | 2023-07-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Fed Chair Jerome Powell’s remarks during an annual gathering of central bankers and economists in Wyoming next month could shed more light on what to expect for the September decision. There are three possibilities for what the Fed might do moving forward, according to economists: a second consecutive rate hike in September, one in November, or no more rate hikes after July. The Commerce Department releases the June reading of the Fed’s favorite inflation measure Friday. The Fed held rates steady for nine straight meetings over the span of a year the last time it paused a rate-hiking campaign in 2006. Nearly all of the Fed’s decisions have been unanimous since the central bank began lifting rates in March 2022, with the exception of two meetings early in the Fed’s current inflation battle.

Persons: it’s, Jerome Powell’s, It’s, haven’t, inflation’s, Ben Bernanke, Raphael Bostic, there’s, hawkish, “ Powell, ” Seema Shah, Powell, Christopher Waller, you’re, ”, José Torres, ” Powell, Jerome Powell Organizations: DC CNN, Federal, Fed, Commerce Department, Market Committee, Atlanta Fed, Asset Management, CNN, ”, The Labor Department, Interactive Locations: Washington, Wyoming, —

☆ What to expect from this week’s Fed meeting
▼ + stars: | 2023-07-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

After the Fed’s July monetary policy meeting, which concludes on Wednesday, investors will be looking for more details around that potential hike. That’s why the Fed is trying to retain the option of another rate increase in case inflation proves to be more resilient than expected. Fed Chair Jerome Powell’s remarks during an annual gathering of central bankers and economists in Wyoming next month could shed more light on what to expect for the September decision. There are three possibilities for what the Fed might do moving forward, according to economists: a second consecutive rate hike in September, one in November, or no more rate hikes after July. Whatever the Fed decides to do won’t come without a vigorous debate, and perhaps even a dissent, though the Fed has a tradition of collegiality.

Persons: —, it’s, Jerome Powell’s, It’s, haven’t, inflation’s, Ben Bernanke, Raphael Bostic, there’s, hawkish, “ Powell, ” Seema Shah, Powell, Christopher Waller, you’re, ”, José Torres, ” Powell, Jerome Powell Organizations: DC CNN, Federal, Fed, Commerce Department, Market Committee, Atlanta Fed, Asset Management, CNN, ”, The Labor Department, Interactive Locations: Washington, Wyoming, —

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