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"It could be that progress has stalled, or it is possible that the numbers released last month were a blip," he said. The current policy rate is set in a range between 4.5% and 4.75%. Bostic also said he was ready to raise rates higher if upcoming data did not show inflation "clearly" heading back towards the central bank's 2% target from its January level of about 5.4%. But he also felt the impact of Fed rate increases so far may only be getting started, a reason to be careful in deciding on further rate hikes lest the central bank overstep. Fed rate increases "should bite through the spring ...

☆ Stocks gain as Bostic backs quarter-point hike
▼ + stars: | 2023-03-02 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The 10-year yield was last up 6.7 basis points to 4.064%. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 0.4 basis points at 4.885% after earlier touching a fresh 15-year high at 4.944%. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 2, 2023. Advancing issues outnumbered declining ones on the NYSE by a 1.19-to-1 ratio; on Nasdaq, a 1.10-to-1 ratio favored advancers. The S&P 500 posted 10 new 52-week highs and 13 new lows; the Nasdaq Composite recorded 80 new highs and 153 new lows.

☆ Fed's Waller: if data stays hot, policy rate should go above 5.1%-5.4%
▼ + stars: | 2023-03-02 | by ( Ann Saphir | ) www.reuters.com time to read: +3 min

At the time Fed Chair Jerome Powell cited recent economic data as evidence that a "disinflationary" trend had begun, suggesting the policy rate was nearing a restrictive-enough level. The Fed targets a 2% inflation rate. Fed policymakers will publish revised projections for the rate path at their upcoming meeting on March 20-21. Traders have also been pricing in a more aggressive policy path, with futures contracts tied to the Fed's policy path now reflecting expectations for another full percentage point of rate hikes by September, bringing the policy rate to a 5.5%-5.75% range. Waller signaled he was open to the possibility that the apparent recent stall in progress on inflation was a "bump" in an otherwise welcome trend downward.

☆ Fed Official Says Hotter Data Will Warrant Higher Rates
▼ + stars: | 2023-03-02 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

The Federal Reserve will need to raise rates to higher levels than previously anticipated to prevent inflation from picking up if the recent strength in hiring and consumer spending continues, a central bank official said Thursday. “I would be very pleased if the data we receive on inflation and the labor market this month show signs of moderation,” Fed governor Christopher Waller said in remarks posted on the Fed’s website. “But wishful thinking is not a substitute for hard evidence in the form of economic data. After seeing promising signs of progress, we cannot risk a revival of inflation.”

March 2 (Reuters) - A virtual event with Federal Reserve Governor Christopher Waller was canceled on Thursday after the Zoom video conference was "hijacked" by a participant who displayed pornographic images. It is an incident we deeply regret," said Brent Tjarks, executive director of the Mid-Size Bank Coalition of America (MBCA), which hosted the event via a Zoom link. "We have been deeply upset to hear about these types of incidents, and Zoom strongly condemns such behavior," Zoom spokesman Matt Nagel said in a statement. The service has come under fire over privacy and security issues, including incidents of "Zoom bombing" in which uninvited users entered and disrupted meetings. The Fed said the event, which was to feature a speech by Waller as well as a question-and-answer session, was canceled due to "technical difficulties."

☆ Morning Bid: Ten-four, Treasury yields soar
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +4 min

The remarkable sight of 10-year Treasury yields back above 4% for the first time in almost four months is only matched by two-year yields at 15-year highs stalking 5%. Weekly jobless claims on Thursday and the latest Fed speakers take on unusual importance in such a febrile rates market. And 6% Fed rates that seemed fanciful only a month ago are now being openly discussed by banks. Despite year-on-year oil prices now tracking declines of 25%, European inflation fears are a key feature of this week's nervousness. Benchmark German 10-year bond yields soared to 11-year highs at 2.77%.

☆ Morning Bid: EU inflation risks loom large for markets
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +3 min

March 2 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. Asian markets had thought to bask in the glow from Wednesday's radiant PMI data from China, and the region in general. Markets are now leaning toward a peak of 5.50%-5.75%, compared with 5.0% just a month ago. That leaves a lot riding on what EU (HICP) inflation figures for February show later on Thursday. Median forecasts are for an annual figure of 8.2%, but risks are on the upside following the surprises from France, Spain and Germany.

☆ Porn Zoom bomb forces cancellation of Fed’s Waller event
▼ + stars: | 2023-03-02 | by ( ) edition.cnn.com time to read: +2 min

A virtual event with Federal Reserve Governor Christopher Waller was canceled on Thursday after the Zoom videoconference was “hijacked” by a participant who displayed pornographic images. It is an incident we deeply regret,” said Brent Tjarks, executive director of the Mid-Size Bank Coalition of America (MBCA), which hosted the event via a Zoom link. More than 220 participants were on the Zoom call at one point before it was terminated. It came under fire over privacy and security issues, including incidents of “Zoom bombing” in which uninvited users entered and disrupted meetings. In response to the disruptions, Zoom rolled out major upgrades, including end-to-end encryption for video calls.

☆ Dow futures rise on Wednesday evening as Salesforce shares pop on strong guidance: Live updates
▼ + stars: | 2023-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Futures tied to the Dow Jones Industrial Average rose in overnight trading as earnings season pressed on and Salesforce shares popped nearly 15% on a strong quarter and forward guidance. Along with Salesforce, Okta shares jumped 13% in overnight trading on solid earnings and guidance. S&P 500 futures and Nasdaq 100 futures added 0.08% and 0.10%, respectively. The tech-heavy Nasdaq Composite led Wednesday's losses, falling 0.66%, while the S&P 500 dipped 0.47%. The S&P 500 and the Nasdaq are on pace for their second consecutive losing week for the first time since December.

☆ Wall Street is upping its expectations for rate hikes — and a recession
▼ + stars: | 2023-02-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The outlook comes ahead of the central bank's March meeting when investors expect another quarter-percentage point — or 25 basis point — rate increase. Bank of America, for instance, said it thinks policymakers may have to take the benchmark funds rate to the 6% range. "This will likely lead to a recession, because the non-consumer sectors of the economy already look soft. In the Cleveland Fed white paper , the authors suggested the central bank reconsider its 2% inflation target because it isn't likely to achieve it anytime soon. It said core PCE inflation is likely to cool only to 2.75% by 2025, adding that "a deep recession would be necessary" for the Fed to achieve its goal.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

"It's going to take more effort on the part of the Fed to get inflation on that sustainable downward path to 2%." She is among the minority of Fed policymakers who back in December thought they would need to lift the policy rate to 5.4% to stop inflation, while most believed 5.1% would suffice. Similarly none of the other Fed policymakers who spoke Friday, including the normally hawkish Governor Christopher Waller and St. Louis Fed President James Bullard, focused on the fresh inflation data to argue for a more muscular Fed response, though all continued to signal more rate hikes would be required. And traders largely erased what had been consistent bets on Fed rate cuts towards the end of the year, pricing in a year-end Fed policy rate of 5.26%. "It looks like the Fed will have to be more aggressive," said Yelena Shulyatyeva, an economist at BNP Paribas.

☆ Treasury yields hold steady as investors await economic data, Fed speaker remarks
▼ + stars: | 2023-02-10 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield was trading at 3.6883% after rising by less than one basis point. The yield on the 2-year Treasury was last down by less than one basis points to 4.5043%. U.S. Treasury yields were little changed on Friday as investors looked to economic data and comments from Federal Reserve officials to assess the outlook for inflation and monetary policy. Investors assessed the outlook for the U.S. economy, especially regarding whether inflation is easing, and what that could mean for monetary policy. Also on Friday, Fed Governor Christopher Waller and Philadelphia Fed President Patrick Harker are expected to make remarks, which investors will be scanning for hints about future monetary policy.

☆ Fed's Waller says cryptocurrency buyers could lose their entire investments
▼ + stars: | 2023-02-10 | by ( Ann Saphir | ) www.reuters.com time to read: +1 min

Feb 10 (Reuters) - Federal Reserve Governor Christopher Waller on Friday had a pair of warnings for those involved in cryptocurrency assets, telling buyers they could lose their investments, and banks that they must guard against bad actors and risks to the financial system. U.S. regulators including the U.S. central bank have told banks they need to be more careful about fraud risk. "If people want to hold such an asset, then go for it," Waller said. "However, if you buy crypto assets and the price goes to zero at some point, please don't be surprised and don't expect taxpayers to socialize your losses." Reporting by Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Volatility stirs
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +5 min

World markets end a rough week of confusing and competing narratives in distinctly edgy form, with peculiarly subdued volatility gauges flickering back to life. Both 10 and 30-year yields hit their highest levels in over a month early on Friday. Job shedding in the digital sector continued, with Yahoo's plans to lay off more than 20% of its total workforce. That said, the year-on-year oil price trend continues to be negative, as it's been all year and base effects from last year's price spike around the Ukraine invasion will only deepen that and weigh on headline inflation further. Goldman Sachs lowered its oil price forecasts for this year and next, cutting its Brent 2023 price forecast by $6 to $92 per barrel - still above current levels around $86.

☆ Treasury yields dip as investors digest Fed speaker comments
▼ + stars: | 2023-02-09 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury was last down by almost three basis points to 3.6088%. U.S. Treasury yields fell on Thursday as investors digested comments from Federal Reserve speakers and assessed the outlook for the economy. Fed Governor Christopher Waller indicated on Wednesday that interest rates could be increased by more than investors are expecting. This echoed the tone struck by other Fed speakers, including Chairman Jerome Powell and Minneapolis Fed President Neel Kashkari, earlier this week. The Fed has hiked interest rates eight times since March 2022 as part of its efforts to slow the economy and lower inflation.

MUMBAI, Feb 9 (Reuters) - The Indian rupee is expected to decline against the U.S. dollar on Thursday, weighed by hawkish comments from Federal Reserve officials and higher oil prices. The non-deliverable forwards indicated the rupee would open around 82.60-82.62 per dollar, compared with the 82.4925 closing in the previous session. Fed officials on Wednesday said more interest rate rises are on the cards in the central bank's efforts to bring down inflation. Moving to a rate of between 5.00% and 5.25% "seems a very reasonable view," New York Fed President John Williams said. Fed fund futures are pricing in rate cuts of about 30 to 35 basis points after peaking at around 5.12% in July.

☆ European markets head for higher open as investors weigh up economic outlook
▼ + stars: | 2023-02-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Thursday as investors weigh up the economic outlook and interest rate trajectory. U.S. stock futures rose slightly Wednesday night as investors took in more big corporate earnings reports while stocks in the Asia-Pacific traded mixed on Thursday, as investors assessed risks of more interest rate hikes. Earlier this week, Fed Chair Jerome Powell said inflation is easing, but rates could still rise. A number of Federal Reserve speakers reiterated the central bank is yet to be finished with its hiking cycle, including Fed Governor Christopher Waller, who said Wednesday that "we have farther to go" to fight inflation. Elsewhere Wednesday, New York Fed President John Williams said that if financial conditions continue to loosen, the Federal Reserve could be forced to push interest rates higher than expected.

☆ CNBC Daily Open: The Fed made sure U.S. markets are listening: Interest rates will continue rising
▼ + stars: | 2023-02-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., US, on Friday, Sept. 23, 2022. After weeks of defying the Federal Reserve, U.S. markets realized that interest rate hikes are probably here to stay. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ CNBC Daily Open: U.S. markets got the Fed’s message: Interest rate hikes are probably here to stay
▼ + stars: | 2023-02-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

After weeks of defying the Federal Reserve, U.S. markets realized that interest rate hikes are probably here to stay. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. In a wave of downbeat news, investors may indeed need a telescope to find some good news in the near term. Subscribe here to get this report sent directly to your inbox each morning before markets open.

☆ Asia-Pacific markets fall as investors weigh risks of more hikes ahead
▼ + stars: | 2023-02-09 | by ( Jihye Lee | ) www.cnbc.com time to read: +1 min

Fed Governor Christopher Waller on Wednesday talked tough on inflation, warning that the fight is not over and could result in higher interest rates than markets are anticipating. Consequently, he said the Fed needs to maintain its current plan of action, which has seen eight interest rate hikes since March 2022. "We are seeing that effort begin to pay off, but we have farther to go," Waller told the Arkansas State University Agribusiness Conference in prepared remarks. "And, it might be a long fight, with interest rates higher for longer than some are currently expecting. But I will not hesitate to do what is needed to get my job done."

☆ Stock futures are flat as investors assess latest earnings reports: Live updates
▼ + stars: | 2023-02-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

S&P 500 futures gained 0.05%, and Nasdaq 100 futures added 0.08%. Several companies reported earnings after Thursday's trading session. During the regular trading session, the 30-stock Dow dropped nearly 250 points. The S&P 500 slid 0.9%, and the Nasdaq Composite had the largest slide, falling 1.02%. The S&P 500 is down 1.3% this week, while the Dow is off by 0.6%.

☆ Asian shares track Wall Street lower amid chorus of Fed speakers
▼ + stars: | 2023-02-09 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

Governor Christopher Waller said the battle to reach the Fed's 2% inflation target "might be a long fight". But Governor Lisa Cook said the big job gains in January with moderating wage growth increased hopes of a "soft landing". The bond market rallied a little after being caught wrongfooted by the January blockbuster U.S. jobs report, forcing many to reposition for a higher peak in the Fed funds rate. The two-year Treasury yield , which rises with traders' expectations of higher Fed fund rates, eased 2 basis points to 4.4375% on Thursday, while the yield on benchmark 10-year Treasury notes slid 5 basis points to 3.6012%. In the oil market, Brent crude futures eased 0.2% to $84.90 while U.S. West Texas Intermediate (WTI) crude also settled 0.1% lower at $78.36.

☆ Indian shares muted on Fed rate-hike concerns; Adani stocks tumble
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 9 (Reuters) - Indian shares struggled for direction on Thursday, on concerns over the U.S. Federal Reserve's rate-hike trajectory, while a drop in Adani Group company stocks also dampened sentiment. Twenty-six of the Nifty 50 constituents declined, with Adani Enterprises (ADEL.NS) and Adani Ports (APSE.NS) falling 7.9% and 3.5%, respectively. Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float. read moreSeveral institutional investors and funds allocate as per the MSCI index and consider it a benchmark. If the weightage of Adani stocks gets reduced in the index following a review, it would lead to outflows and likely result in a slide in the group's stock, two analysts said.

☆ Fed Officials Signal Higher Interest Rates Will Be Needed to Contain Inflation
▼ + stars: | 2023-02-08 | by ( Harriet Torry | Nick Timiraos | ) www.wsj.com time to read: +3 min

A senior Federal Reserve official said the economy will need higher borrowing costs for a few years to bring down inflation and prevent price pressures from strengthening. “We still have some work to do to get interest rates in the right place,” said New York Fed President John Williams at The Wall Street Journal’s CFO Network Summit in New York on Wednesday. The Fed began raising interest rates from near zero last March. Separately, Fed governor Christopher Waller said he was optimistic that the Fed’s rate increases were slowing the economy. “And it might be a long fight, with interest rates higher for longer than some are currently expecting.”Their comments come a day after Fed Chair Jerome Powell said the labor market’s surprising strength underscores why bringing inflation down will take longer and require higher interest rates than many investors have been anticipating.

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