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Former Federal Reserve Board Chair Ben Bernanke speaks during a discussion on "Perspectives on Monetary Policy" during the Thomas Laubach Research Conference at the Federal Reserve Board building in Washington, DC, May 19, 2023. LONDON — The Bank of England will on Friday publish a long-awaited review by former Federal Reserve Chair Ben Bernanke that could lead to significant changes in its monetary policymaking. The review was launched last summer to assess the Bank's struggles to accurately project the huge global spike in inflation, following Russia's invasion of Ukraine. The first deals with how the Bank of England communicates uncertainty around its central forecasts. The "fan chart" is the Bank's long-held method of presenting the probability distribution that forms the basis of its inflation forecasts.
Persons: Ben Bernanke, BOE, Goldman Sachs, Bernanke, Goldman, Jari Stehn, James Moberly, Stehn Organizations: Federal Reserve, Thomas Laubach Research, Federal Reserve Board, LONDON, Bank of, Federal, MPC, Bank of England, Bank Locations: Washington , DC, Bank of England, Ukraine
Saul Loeb | AFP | Getty ImagesWASHINGTON — Former Federal Reserve Chair Ben Bernanke, who guided the central bank and the U.S. economy through the Great Recession, thinks central bankers still have work to do to bring down inflation. Since leaving the Fed in 2014, Bernanke has been a distinguished senior fellow at the Brookings Institution. watch nowTheir paper notes that inflation has evolved since ballooning to a 40-year high in the summer of 2022. In a forum Tuesday presented by the Brookings Institution, Bernanke, Blanchard and other high-profile economists and academics discussed the root causes and what policymakers should do as they review policies for the future. The Fed only began raising interest rates in March 2022, a full year after its preferred inflation gauge eclipsed the target.
Persons: Ben Bernanke, Saul Loeb, Olivier Blanchard, Bernanke, Blanchard, Jason Furman, I'm, Organizations: Federal Reserve, Thomas Laubach Research, Federal Reserve Board, AFP, Getty Images WASHINGTON, Former Federal, Fed, Brookings Institution, Peterson Institute for International Economics, of Economic Advisers, Harvard Locations: Washington , DC, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Fed chair Ben Bernanke discusses banking sector fallout from SVB collapseJerome Powell, Federal Reserve chair, and Ben Bernanke, former Federal Reserve chair, discuss the current status of the economy at the Thomas Laubach Research Conference in Washington, DC.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJerome Powell: Banks remain strong and resilient, and well positioned to face today's challengesJerome Powell, Federal Reserve chair, and Ben Bernanke, former Federal Reserve chair, discuss the current status of the economy from the Thomas Laubach Research Conference in Washington, DC.
Powell Says Inflation Remains Too High
  + stars: | 2023-05-19 | by ( Alan Rappeport | Joe Rennison | ) www.nytimes.com   time to read: 1 min
Jerome H. Powell, the Federal Reserve chair, said on Friday that inflation continues to be “far above” the central bank’s target but said policymakers “haven’t made any decisions” about whether to raise rates at their next meeting in June. The comments, made at the Fed’s annual Thomas Laubach Research Conference, came as businesses and investors around the world are trying to gauge whether the Fed is preparing to pause its campaign to raise borrowing costs amid signs that inflation is easing and the U.S. economy is cooling. Mr. Powell did not offer a clear signal on the path of interest rates, but said the Fed remains committed to bringing inflation closer to the central bank’s 2 percent target. “The data continues to support the committee’s view that bringing inflation down will take some time,” Mr. Powell said.
Watch Fed Chairman Jerome Powell speak live on monetary policy
  + stars: | 2023-05-19 | by ( Jeff Cox | ) www.cnbc.com   time to read: +1 min
Federal Reserve Chairman Jerome Powell speaks Friday at the "Perspectives on Monetary Policy" panel at the Thomas Laubach Research Conference the central bank is hosting in Washington, D.C. The remarks come with markets suddenly divided on where the Fed goes from here. Market pricing Friday morning indicated about a 35% probability the Fed might approve another interest rate hike when it meets in June, according to the CME Group. The Fed next week will release minutes from its meeting earlier in May at which it approved its 10th interest rate hike since March 2022. Read more:Dallas Fed President Logan says current data doesn't justify pausing rate hikes yetFed Governor Philip Jefferson named as new vice chair to succeed Lael BrainardFed increases rates a quarter point and signals a potential end to hikes
Futures edge higher in early hours on debt talks optimism
  + stars: | 2023-05-15 | by ( ) www.reuters.com   time to read: +2 min
SummarySummary Companies Futures up: Dow 0.32%, S&P 0.37%, Nasdaq 0.33%May 15 (Reuters) - U.S. stock index futures edged higher on Monday amid optimism that lawmakers will reach an agreement to raise the U.S. debt limit to avoid a catastrophic default, and ahead of speeches by Federal Reserve officials lined up through the week. ET, Dow e-minis were up 108 points, or 0.32%, S&P 500 e-minis were up 15.5 points, or 0.37%, and Nasdaq 100 e-minis were up 44.5 points, or 0.33%. Markets are waiting to hear them to gauge the pricing of rate cuts this year. The Dow Jones Industrial Average (.DJI) fell 1.1% last week, while the S&P 500 index (.SPX) fell 0.3% and the Nasdaq (.IXIC) rose 0.4%. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Good news for markets next week: no default, no credit agency downgrade, no apocalypse. Worrying 2011 precedent Recent history tells investors that stocks will move more violently during a debt ceiling standoff. Retail sales update Debt negotiations aside, investors get updates next week on the state of American consumer spending when April retail sales are reported Tuesday alongside earnings from Home Depot. Deutsche Bank estimates that April retail sales expanded month over month by 0.7%, the market consensus. Credit Suisse is less optimistic, forecasting that April retail sales grew by 0.6%, but, excluding vehicles, were unchanged.
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