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Search resuls for: "Lindsay Dunsmuir Ann Saphir"


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☆ Traders bet Fed won't raise rates further as job market cools
  + stars: | 2023-04-04 | by ( Lindsay Dunsmuir Ann Saphir | Lindsay Dunsmuir | Ann Saphir | ) www.reuters.com   time to read: +3 min
They also now expect the Fed will start easing policy as early as July, cutting its benchmark rate to near 4% by the end of the year. Job openings, a measure of labor demand, also fell to its lowest level since May 2021 and data for January was revised lower to show 10.6 million job openings instead of the previously reported 10.8 million. "The U.S. labor market is definitively cooling off," said Indeed economist Nick Bunker, noting that job openings have now fallen by about 1.3 million in two months. Welcome relief on the job market front follows a key report last week that showed while inflation ebbed in February, it remained high enough to possibly compel the Fed to raise interest rates one more time this year. At their March policy meeting, most Fed policymakers signaled they expected to need to raise rates one more time, to 5.1%, and not to cut them until 2024.
☆ The Fed's latest rate hike: five ways Americans may feel the pain
  + stars: | 2022-09-21 | by ( Lindsay Dunsmuir Ann Saphir | Lindsay Dunsmuir | Ann Saphir | ) www.reuters.com   time to read: +7 min
Fed policymakers expect it to rise to 4.4% by the end of next year, projections released Wednesday show. The availability of nearly two job openings for every job seeker reflects that, and Fed policymakers hope businesses will respond to interest rate hikes mostly by trimming hiring rather than with outright layoffs. Fed policymakers see inflation, now at 6.3% by their preferred measure, falling to 2.8% by the end of next year, projections released on Wednesday show. But in general, banks are slow to pass on the Fed's rate increases to savers and do so at levels typically far below the central bank's policy rate and, currently, inflation. With the rise in rates, monthly mortgage payments on a median-priced existing home have jumped nearly 60% to $1,940 this year.
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