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Jerome Powell - 2 ” - 2 Kermit Schoenholtz - 2 Powell - 2 weren’t - 1 “ - 1 Wendy Edelberg - 1 they’ve - 1
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New York Kermit Schoenholtz , New University of Central Florida
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☆ Inflation just fell when rate hikes were paused. So why should the Fed keep hiking?
  + stars: | 2023-07-12 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +3 min
But last month’s inflation report was an outlier — for the first time, the declines weren’t immediately preceded by a rate hike from the Federal Reserve. One month doesn’t dictate a trendFed Chair Jerome Powell has said it time and time again: One month’s data is not indicative of a trend. Powell repeatedly stresses that the Fed takes a data-dependent approach to interest rate decisions. In Schoenholtz’s view, the Fed should continue to hike interest rates even though inflation slowed down sharply in June despite the central bank holding rates steady. If the Fed waits too long to raise interest rates, it could risk its credibility, leading to a persistently higher price level that’s harder for the Fed to crack down on.
Persons: weren’t, Jerome Powell, ”, Kermit Schoenholtz, Powell, “, Wendy Edelberg, they’ve Organizations: New, New York CNN, Labor Department, Federal, CPI, Kermit Schoenholtz , New York University, Citigroup, Fed, Hamilton Project, Brookings Institution, CNN Locations: New York, Kermit Schoenholtz , New
☆ Why the Fed wants a good inflation report — but not a good jobs report
  + stars: | 2023-07-11 | by ( Elisabeth Buchwald | ) edition.cnn.com   time to read: +5 min
On the job market, indications like the latest jobs report — which showed that fewer Americans are getting hired — can be interpreted as bad news. As of the latest Job Openings and Labor Turnover Survey, or JOLTS, there were 1.6 jobs available for every job seeker — or more than 3 million job openings than people searching for jobs. What’s good news for investorsInvestors are searching for signs that the Federal Reserve will stop hiking interest rates, or better yet, cut them. When the Fed raises interest rates it raises the cost of doing business for companies who rely on outside funding. That’s because interest rates on loans tend to rise in tandem with increases in the Fed’s benchmark interest rate.
Persons: —, It’s, that’s, ”, Sean Snaith, Snaith, Jerome Powell, Kermit Schoenholtz, Powell Organizations: New, New York CNN, Federal, Fed, Institute for Economic, University of Central, Labor, Survey, Kermit Schoenholtz , New York University, Citigroup, CNN, Investors, Federal Reserve Locations: New York, University of Central Florida, Kermit Schoenholtz , New
☆ Fed can't tame inflation without 'significantly' more hikes that will cause a recession, paper says
  + stars: | 2023-02-24 | by ( Jeff Cox | ) www.cnbc.com   time to read: +3 min
The Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation in Washington, January 26, 2022. The Federal Reserve is unlikely to be able to bring down inflation without having to raise interest rates considerably higher, causing a recession, according to a research paper released Friday. The Fed has implemented a series of interest rate hikes in an effort to tame inflation that had been at its highest level in some 41 years. That change implemented "average inflation targeting," allowing inflation to run hotter than normal in the interest of a more inclusive employment recovery. Fed Governor Philip Jefferson released a reply to the report, saying that the current situation differs from previous inflation episodes.
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