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☆ 'The market is right': Former Fed policymaker Mester sees fewer rate cuts next year after Trump's victory
▼ + stars: | 2024-11-12 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

The U.S. Federal Reserve could carry out fewer interest rate cuts than previously expected next year should President-elect Donald Trump's proposed global tariffs take hold, former Fed policymaker Loretta Mester said Tuesday. Markets trimmed their forecasts for rate cuts following Trump's election victory last week, with speculation growing around his tariff proposals and their implications for the world economy. It comes as concern is growing among global policymakers about the implications of Trump's fiscal plans, particularly on tariffs. "A trade war is the last thing we need," he continued. "If a trade war is to start, the European Union must not be unprepared as it was in 2018."

Persons: Donald Trump's, Loretta Mester, Mester, they're, Trump, It's, there's, —, Olli Rehn, Rehn Organizations: U.S . Federal, UBS European Conference, Cleveland Federal Reserve, Reuters, Trump, Bank of Finland, European Central Bank policymaker, UBS, European Union Locations: London, U.S, Europe, European

☆ Mester: The Fed may have some time to adjust monetary policy to fiscal policy changes
▼ + stars: | 2024-11-08 | 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 EmailMester: The Fed may have some time to adjust monetary policy to fiscal policy changesFormer Cleveland Fed President Loretta Mester discusses the path forward for the Fed, both on determing how far to cut rates, and respond to potentially reflationary policies by the incoming Trump administration.

Persons: Loretta Mester, Trump Organizations: Cleveland Fed, Fed

☆ Former Cleveland Fed Pres. Mester: Seems pretty straightforward to cut another 25 bps
▼ + stars: | 2024-11-01 | 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 Cleveland Fed Pres. Mester: Seems pretty straightforward to cut another 25 bpsFormer Cleveland Fed President Loretta Mester joins 'Squawk Box' to discuss the October jobs report, impact on the Fed's inflation fight, rate path outlook, and more.

Persons: Loretta Mester Organizations: Former Cleveland Fed

☆ Fed should continue on path of reducing interest rates: Fmr. Cleveland Fed President Loretta Mester
▼ + stars: | 2024-10-30 | 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 should continue on path of reducing interest rates: Fmr. Cleveland Fed President Loretta MesterLoretta Mester, Fmr. Cleveland Fed President & CEO, joins 'Fast Money' to talk what's next for the Federal Reserve.

Persons: Loretta Mester Loretta Mester Organizations: Fed, Cleveland Fed, Federal Reserve Locations: Fmr

☆ There's still room for the Fed to make gradual cuts, says Fmr. Fed President Loretta Mester
▼ + stars: | 2024-10-11 | 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 EmailThere's still room for the Fed to make gradual cuts, says Fmr. Fed President Loretta MesterLoretta Mester, Former Cleveland Fed President, joins 'Closing Bell' to discuss her Fed outlook and getting to the neutral rate.

Persons: Fmr, Loretta Mester Loretta Mester Organizations: Fed, Former Cleveland Fed

☆ Former Cleveland Fed Pres. Mester on September jobs report: Consistent with another 25 bps rate cut
▼ + stars: | 2024-10-04 | 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 Cleveland Fed Pres. Mester on September jobs report: Consistent with another 25 bps rate cutFormer Cleveland Fed President Loretta Mester joins 'Squawk Box' to discuss the September jobs report, impact on the Fed's inflation fight, state of the economy, and more.

Persons: Mester, Loretta Mester Organizations: Former Cleveland Fed, Cleveland Fed

☆ Inflation is doing exactly what the FOMC hoped it would, says Fmr. Fed President Loretta Mester
▼ + stars: | 2024-09-27 | 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 EmailInflation is doing exactly what the FOMC hoped it would, says Fmr. Fed President Loretta MesterLoretta Mester, Former Cleveland Fed President, joins 'Closing Bell: Overtime' to discuss PCE data, Fed speak and more.

Persons: Fmr, Loretta Mester Loretta Mester Organizations: Former Cleveland Fed

☆ Former Cleveland Fed President Mester on why she sees a series of 25 bps rate cuts this year
▼ + stars: | 2024-09-18 | 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 Cleveland Fed President Mester on why she sees a series of 25 bps rate cuts this yearLoretta Mester, former Cleveland Fed president and CNBC contributor, joins 'Money Movers' to discuss what Fed officials think about market speculation for the rate decisions, what Mester expects for the rest of the year, and much more.

Persons: Mester, Loretta Mester Organizations: Former Cleveland Fed, Cleveland Fed, CNBC

☆ The Fed keeps brushing off concerns about another Trump presidency. Its closed-door meetings show otherwise
▼ + stars: | 2024-09-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

New York CNN —Federal Reserve officials won’t say how former President Donald Trump winning a second term could impact the economy. But transcripts of closed-door Fed meetings from Trump’s first term give some clues about top economists’ true feelings about Trump’s economic agenda. “We don’t want to be involved … in politics in any way,” Powell said after July’s monetary policy meeting. The transcripts of past meetings that are publicly available, the most recent being from the December 2018 monetary policy meeting, suggest that some Fed officials had legitimate concerns about Trump’s trade policy and its impact on the economy. ‘Ill-conceived US government policies’At later meetings, as the Trump administration began to set the stage for a potential trade war with China, Fed officials started to sound more concerned.

Persons: Donald Trump, Trump, Jerome Powell, Powell, ” Powell, Sen, Jack Reed, …, it’s, Loretta Mester, ” Mester, ”, James Bullard, Bob Dylan, ” Bullard, Bullard, Mitch Daniels, ‘, ’, “, ” William Dudley, ” Dudley Organizations: New, New York CNN — Federal, Democrat, Trump, CNN, Cleveland Fed, Fed, Federal, Market, Louis Federal Reserve, Chicago Cubs, Mitch Daniels School of Business, Washington, Lee University Locations: New York, Rhode Island, ”, China, United States, Dudley

☆ S&P 500 rallies back to old highs, setting up Fed meeting to be make or break moment
▼ + stars: | 2024-09-14 | by ( Michael Santoli | ) www.cnbc.com time to read: +6 min

The market's turn toward treating good economic news as positive for stocks is pictured here in a chart from Citi strategists, showing the three-month correlation between the S & P 500 and the Citi U.S. Economic Surprise index has turned sharply higher. The S & P 500's low for the week was Wednesday morning, right at the 5400 level where it previously hit a low a week ago Friday after a tepid employment report. Forward 12-month S & P 500 earnings forecasts continue to rise smartly, now approaching $270. But, thanks to the past two months of sideways churn, that's down from 21.7 when the S & P first hit its current level in July. And the rally last week could well have front-run any potential positive inference from the Fed's move next week.

Persons: Ally Financial, Ed Hyman, Loretta Mester, William Dudley, John Kolovos Organizations: Citi, Citi U.S, Fed, Ally, CPI, Wall Street, Financial Times, Treasury, National Association of Active Investment, American Association of

☆ Fed most likely to cut rates by quarter point, says former Cleveland Fed pres. Loretta Mester
▼ + stars: | 2024-09-12 | 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 most likely to cut rates by quarter point, says former Cleveland Fed pres. Loretta MesterFormer Cleveland Fed president Loretta Mester joins CNBC's 'The Exchange' to discuss her expectations for rate cuts, whether the Fed's focus should be on rates vs. the labor market, and more.

Persons: Loretta Mester Organizations: Cleveland Fed Locations: Cleveland

☆ The Fed now will focus on the employment part of its mission — and for good reason
▼ + stars: | 2024-08-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Various indicators are pointing to a labor market that, if not in outright deterioration, is at least slowing. "Declines of this magnitude tend to occur when the economy is heading into recession and when the unemployment rate is on the ascent," he said. The unemployment rate almost always either heads up or down, with little evidence of extended plateaus. The current momentum is up, though the consensus estimate for August is that the unemployment rate will tick down to 4.2%, according to FactSet. "When you talk to firms ... it doesn't look like the labor market is not healthy," former Cleveland Fed President Loretta Mester said Tuesday on CNBC.

Persons: Troy Ludtka, Jerome Powell, Beth Ann Bovino, Mary Daly, Nonfarm, Nikko, Loretta Mester, hasn't Organizations: Federal, Nikko Securities, Conference Board, Board, Labor Department, San Francisco Fed, Bloomberg News, Cleveland Fed, CNBC Locations: U.S

☆ The Fed is about to give more clues as to when it will finally start cutting rates
▼ + stars: | 2024-07-31 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Fed officials in recent speeches have said they’re pleased with the latest inflation data, acknowledging the steady progress but saying they’re not quite fully comfortable yet with slashing rates. “We set this rate when inflation was over 4%, and inflation is now, let’s call it, 2.5%. He has said that an unexpected weakening in the labor market would prompt the Fed to consider cutting rates sooner than expected. Economic growth in 2024 has been solid so far, despite the highest interest rates in nearly a quarter century. But the Fed’s decision to cut rates will be mainly based on inflation readings, absent any concerning news about the job market.

Persons: they’re, Christopher Waller, Austan Goolsbee, “, Goolsbee, Loretta Mester, Jerome Powell’s, ” Kathleen Grace, Waller, ” Powell, Powell Organizations: Washington CNN, Federal, Fed, Chicago Fed, Wall Street, Cleveland Fed, CNN, Labor

☆ Stock market today: US stocks end the week higher after cool inflation, Apple AI hype
▼ + stars: | 2024-06-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks traded mostly lower on Friday but ended up for the week after a cool May CPI report. The Nasdaq 100 closed at record highs driven by AI excitement and solid earnings from Broadcom and Adobe. AdvertisementUS stocks traded mostly lower on Friday but gained for the week after a cool May inflation report and Apple's unveiling of its AI ambitions at WWDC. The Nasdaq 100 finished the week higher by more than 3%, while the S&P 500 was up about 1.5%. The Dow Jones, which has little exposure to the AI tech trade, finished the week down about 0.5%.

Persons: —, Dow Jones, Loretta Mester, we'll, Mester, Austan Goolsbee, We've, Goolsbee Organizations: Nasdaq, Broadcom, Adobe, Service, Federal, PPI, CNBC

☆ Stock market today: Indexes edge lower after hitting records on cooling inflation
▼ + stars: | 2024-06-14 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks dipped on Friday after the S&P 500 and Nasdaq 100 reached record highs four days in a row. Investors expect the Federal Reserve to begin cutting interest rates at its September FOMC meeting. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Friday's decline in stocks was preceded by a sharp decline in European stocks, as recent election results continue to make waves in France and Germany. The market currently expects the Fed to begin cutting interest rates at its September FOMC meeting.

Persons: Loretta Mester, —, DAX, Austan, Mester Organizations: Nasdaq, CNBC, Investors, Federal Reserve, Service, University of Michigan, Fed, Here's Locations: France, Germany

☆ Cleveland Fed President Loretta Mester: Seen really progress on inflation, but we're not there yet
▼ + stars: | 2024-06-14 | 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 EmailCleveland Fed President Loretta Mester: Seen really progress on inflation, but we're not there yetCNBC’s Steve Liesman and Cleveland Fed President Loretta Mester join 'Squawk Box' to discuss the state of the economy, what to make of the inflation reports this week, the Fed's inflation fight, whether the monetary policies are sufficiently restrictive, rate path outlook, and more.

Persons: Loretta Mester, we're, Steve Liesman Organizations: Cleveland, Cleveland Fed

☆ Cleveland Fed President Loretta Mester: Want to see 'a few more months' of good inflation data
▼ + stars: | 2024-06-14 | 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 EmailCleveland Fed President Loretta Mester: Want to see 'a few more months' of good inflation dataCNBC’s Steve Liesman and Cleveland Fed President Loretta Mester join 'Squawk Box' to discuss the state of the economy, what to make of the inflation reports this week, the Fed's inflation fight, whether the monetary policies are sufficiently restrictive, rate path outlook, and more.

Persons: Loretta Mester, Steve Liesman Organizations: Cleveland, Cleveland Fed

☆ Goldman's Beth Hammack has a new job: Cleveland Fed president
▼ + stars: | 2024-05-30 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Beth Hammack, a former Goldman Sachs executive, was just appointed Cleveland Fed president. Hammack succeeds Loretta Mester, known for her hawkish stance on inflation policies. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementLongtime Goldman Sachs executive Beth Hammack, who left in February, is heading to the Federal Reserve Bank of Cleveland as its next president. Hammack replaces Loretta Mester, who is stepping down on June 30 after a decade as the Cleveland Fed's president.

Persons: Beth Hammack, Goldman Sachs, Hammack, Loretta Mester, —, She'll, Mester Organizations: Goldman, Cleveland Fed, Service, Federal Reserve Bank of Cleveland, Cleveland Fed's, Business

☆ Goldman Sachs partner Beth Hammack to succeed Mester as Cleveland Fed leader
▼ + stars: | 2024-05-29 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A Goldman Sachs executive and finance industry veteran will take over as the new president of the Cleveland Federal Reserve. The central bank district announced Wednesday that Beth M. Hammack, 52, will take over when Loretta Mester steps down June 30. In the interim, Cleveland Fed First Vice President Mark S. Meder will serve as the president. As the Fed contemplates its next moves with monetary policy, the Cleveland president plays an important role this year as a voter on the rate-setting Federal Open Market Committee. Hammack comes to the Cleveland Fed after serving with Goldman Sachs since 1993 in multiple roles, having been a partner since 2010 after being named managing director in 2003.

Persons: Goldman Sachs, Beth M, Loretta Mester, Hammack, Mark S, Beth, Heidi Gartland Organizations: Cleveland Federal Reserve, Cleveland Fed, Fourth, Cleveland, Market, Stanford University, University Hospitals

☆ Cleveland Fed taps Goldman Sachs veteran Beth Hammack as new president
▼ + stars: | 2024-05-29 | by ( Bryan Mena | Elisabeth Buchwald | ) edition.cnn.com time to read: 1 min

Washington CNN —The Federal Reserve Bank of Cleveland announced Wednesday that Beth M. Hammack will be its next president and chief executive officer after current president Loretta Mester retires at the end of June. Hammack, 52, joins the Cleveland Fed after three decades at Goldman Sachs. She is slated to vote on monetary policy decisions as of August 21, when her term officially starts. For the July meeting of the Federal Open Market Committee, Cleveland Fed Vice President Mark S. Meder will be voting. The central bank is currently mulling when to begin cutting interest rates after raising them to a two-decade high last summer.

Persons: Beth M, Loretta Mester, Goldman Sachs, Mark S Organizations: Washington CNN, Federal Reserve Bank of Cleveland, Cleveland Fed, Federal, Market, Fed Locations: Hammack

☆ Americans are expected to splurge on travel this summer — again
▼ + stars: | 2024-05-26 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities. “We haven’t seen Memorial Day weekend travel numbers like these in almost 20 years,” Paula Twidale, senior vice president at AAA Travel, said in a release. Spending this summer will likely be a little softer than last year’s, they said, but still strong. The bank’s consumer travel survey showed that 72% of people said they’re planning to travel, with 36% saying they’ve already planned their trip. Even among respondents making less than $75,000 a year, more than 60% said they’re planning to travel this summer.

Persons: ” Paula Twidale, Royal Caribbean’s, ” David Tinsley, they’ve, Joelle, aren’t, Dogecoin, Shiba Inu “, Atsuko Sato, ”, Sato, ” Kabosu, Kabosu, Shiba, Loretta Mester, Neel Kashkari, Lisa Cook, Robin, John Williams, Raphael Bostic, Lorie Logan Organizations: CNN Business, Bell, Washington CNN —, Transportation Security Administration, AAA, AAA Travel, Bank of America Institute, Bank of America, Japan, Europe, New York Fed, Public Policy Research, Mizuho Financial, Federal, Global, Index, Board, HP, Dick’s Sporting Goods, Abercrombie, Fitch, Eagle Outfitters, Costco, Dell, Dollar, Hormel, US Commerce Department, US Labor Department, National Association of Realtors, China’s National Bureau of Statistics, Atlanta Fed Locations: Washington, Caribbean, South Korea, Switzerland, Colombia, Costa Rica, Canada, Mexico, Domestically , California, Florida, California, “, Sakura, CAVA, Chewy, Burlington, Birkenstock, Nordstrom, Kohl’s

☆ Fed officials aren’t easing Wall Street’s nerves
▼ + stars: | 2024-05-22 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street, eager for rate cuts, is on edge again. But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon. “I think we’re set up for stickier inflation.”Some Fed officials say another rate hike isn’t likelyFed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news. Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation.

Persons: they’re, Dow, Christopher Waller, ” Waller, Goldman Sachs, David Solomon, “ I’m, ”, “, Philip Jefferson, Mary Daly, Axios, Jerome Powell, Klaas Knot, Loretta Mester, Chris Larkin Organizations: Washington CNN, Federal Reserve, CNBC, ”, Peterson Institute for International Economics, Boston College, Mortgage, Association, ” San Francisco Fed, European Central Bank Governing, Cleveland Fed, Bloomberg, “ Locations: ” San

☆ Stock market today: Indexes slip as traders await Nvidia's earnings report
▼ + stars: | 2024-05-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks traded lower as investors waited for Nvidia's first-quarter earnings report after the close. Investors also took in comments from Fed officials, which suggested rate cuts weren't imminent. AdvertisementUS stocks slid lower on Wednesday as traders took looked ahead to Nvidia's highly anticipated first-quarter earnings report and took in the latest commentary from Federal Reserve speakers. All three benchmark indexes traded lower, while bond yields ticked higher. Markets have been dialing back their expectations for Fed rate cuts all year.

Persons: Nvidia's, —, Susan Collins, Loretta Mester Organizations: Investors, Service, Federal Reserve, Treasury, Nvidia, Bloomberg, Boston, Cleveland Fed, Fed, Here's

☆ Stock market today: Indexes trade mixed as Nvidia-led momentum takes a break ahead of earnings
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock trades fell flat as investors take a breather ahead of Nvidia's earnings. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe latest rally in stocks faltered Tuesday morning, with investors stepping back ahead of Nvidia's upcoming earnings report and further communications from Federal Reserve officials. Tuesday will also be saturated with speakers from the Federal Reserve, whose comments could provide insight into monetary policy.

Persons: —, Dow, Jamie Dimon, David Morrison, Thomas Barkin, Christopher Waller, John Williams, Raphael Bostic, Susan Collins, Loretta Mester Organizations: Fed, Service, Federal Reserve, Nasdaq, Alto Networks, Urban Outfitters, Toll, Trade Nation Locations: Here's

☆ Wealthy Americans are starting to spend more carefully
▼ + stars: | 2024-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

A robust stock market coupled with rising home values have boosted Americans’ wealth from 2019 through 2022, according to a Federal Reserve report on household finances. There’s been some evidence of wealthy Americans growing cautious in the latest round of company earnings results. Federal Reserve officials Michael Barr, Christopher Waller, Philip Jefferson and Raphael Bostic deliver remarks. Federal Reserve officials Christopher Waller, John Williams, Raphael Bostic, Michael Barr, Loretta Mester and Susan Collins deliver remarks. The Federal Reserve release minutes from its May policymaking meeting.

Persons: they’ve, “, ” Nanette Abuhoff Jacobson, There’s, ” Jonathan Akeroyd, Moet, The Beverly Hilton, Michael Kovac, LVMH Moët Hennessy Louis Vuitton, ”, Jacobson, ’ Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, Matt Egan, Read, Michael Barr, Christopher Waller, Philip Jefferson, Raphael Bostic, John Williams, Loretta Mester, Susan Collins, Robin, Ralph Lauren, Booz Allen Hamilton, Buckle Organizations: CNN Business, Bell, Washington CNN, Federal, Fed, Hartford Funds, CNN, Burberry, The Beverly, The Beverly Hilton Hotel, Walmart, Royal Caribbean Cruises, Jackson State University, Federal Reserve Bank of New, Palo Alto Networks, Urban Outfitters, NVIDIA, National Statistics, National Association of Realtors, Reserve, Intuit, US Labor Department, Chicago Fed, Global, US Commerce Department, Atlanta Fed, Booz, University of Michigan Locations: Washington, British, Americas, Beverly Hills , California, Jackson , Mississippi, Federal Reserve Bank of New York, Palo, Ross, Burlington

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