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☆ Fed to leave rates unchanged on Sept. 20; cut unlikely before Q2 2024: Reuters poll
▼ + stars: | 2023-09-13 | by ( Prerana Bhat | ) www.reuters.com time to read: +5 min

"While there has been meaningful progress to date on inflation ... the Fed will not be able to take this for granted." Around 70% of those respondents, 62 of 87, had at least one rate cut by the end of next June. Still, all but five of 28 respondents to an extra question said the bigger risk was that the first Fed cut would come later than they currently forecast. A serious economic downturn could justify an earlier rate cut, but that is looking less likely. The economy was expected to expand by 2.0% this year and 0.9% in 2024, according to the poll.

Persons: Sarah Silbiger, Jerome Powell, Jackson, Brett Ryan, Andrew Hollenhorst, Citi's Hollenhorst, Prerana Bhat, Pranoy Krishna, Rahul Trivedi, Shaloo, Ross Finley, Paul Simao Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Rights, Federal Reserve, Market, Fed, Reuters, Deutsche Bank, Consumer, Index, Citi, Thomson Locations: Washington ,, U.S

☆ Fed to leave rates unchanged on Sept. 20; cut unlikely before Q2 2024
▼ + stars: | 2023-09-12 | by ( Prerana Bhat | ) www.reuters.com time to read: +5 min

"While there has been meaningful progress to date on inflation ... the Fed will not be able to take this for granted." Only one said the Fed would cut rates this year. Around 70% of those respondents, 62 of 87, had at least one rate cut by the end of next June. Still, all but five of 28 respondents to an extra question said the bigger risk was that the first Fed cut would come later than they currently forecast. A serious economic downturn could justify an earlier rate cut, but that is looking less likely.

☆ Morning Bid: Transatlantic surprise gap opens up again
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +5 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. And the gap between those two gauges, which had halved from July peaks, is starting to yawn wider yet again. Although the steep annual drop in Chinese exports and imports last month was marginally better than forecast, the ongoing funk in activity remains stark and threatens Beijing's overall economic growth target of about 5%. At least six senior Fed officials are in speaking engagements later on Thursday - including Fed board member Michelle Bowman and New York Fed chief John Williams. Events to watch for on Thursday:* U.S. weekly jobless claims, Q2 labor cost and productivity revisions* Federal Reserve Board Governor Michelle Bowman, New York Fed President John Williams, Chicago Fed chief Austan Goolsbee, Philadelphia Fed chief Patrick Harker, Atlanta Fed chief Raphael Bostic and Dallas Fed chief Lorie Logan all speak.

Persons: Sarah Silbiger, Mike Dolan, Andrew Bailey, Michelle Bowman, John Williams, bourses steadied, Austan Goolsbee, Patrick Harker, Raphael Bostic, Lorie Logan, Joe Biden, Susan Fenton Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, U.S, Federal, Treasury, Bank of England, Bank of Canada, Fed, New York Fed, Apple, Beijing, Federal Reserve, Michelle Bowman , New York Fed, Chicago Fed, Philadelphia Fed, Atlanta Fed, Dallas Fed, PMI Reuters Graphics Reuters, Thomson Locations: Washington ,, U.S, United States, Europe, China, Brent, Saudi Arabia, Russia, Japan, Asia, Michelle Bowman , New, Atlanta, India, New Delhi

REUTERS/Sarah SilbigerAug 10 (Reuters) - Federal Reserve policymakers are unlikely to raise interest rates again in 2023 and will probably start cutting them early next year, traders bet on Thursday, after a U.S. government report showed consumer prices rose only moderately last month. Traders of futures tied to the Fed's policy rate now see less than a 10% chance that the U.S. central bank will increase its benchmark overnight interest rate from its current 5.25%-5.50% range at a Sept. 19-20 policy meeting. The Fed's first rate cut is priced into the futures contracts by March of 2024. The Fed has driven its policy rate up by 5.25 percentage points since March 2022 to bring inflation back down to its 2% goal. "There's always a chance we get reacceleration of inflation prints after October, but I don't think that's going to spur Fed action."

Persons: Sarah Silbiger, Guy Lebas, Janney Montgomery Scott, Ann Saphir, Karen Brettell, Lucia Mutikani, Bernadette Baum, Paul Simao Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Federal Reserve, Labor Department, Traders, Thomson Locations: Washington ,, U.S

☆ Another interest rate hike is likely coming from the Federal Reserve: Here are 5 ways it could affect you
▼ + stars: | 2023-07-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

"Rising interest rates can sometimes feel like a double-edged sword," said Kelly LaVigne, vice president of consumer insights at Allianz Life. As the federal funds rate rises, the prime rate does, as well, and credit card rates follow suit. The average credit card rate is now more than 20% — an all-time high, while balances are higher and nearly half of credit card holders carry credit card debt from month to month, according to a Bankrate report. Student loans Federal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves. For now, anyone with existing federal education debt will benefit from rates at 0% until student loan payments restart in October.

Persons: Stefani Reynolds, they've, Kelly LaVigne, Brett House, WalletHub, Freddie Mac, Edmunds, Ivan Drury Organizations: Eccles Federal Reserve, Bloomberg, Getty, Reserve, Fed, WalletHub, Allianz Life, Columbia Business School, Treasury, Istock Locations: Washington, Edmunds

☆ What Pan Am flight attendants did next
▼ + stars: | 2023-07-17 | by ( Annita Thomas | ) edition.cnn.com time to read: +13 min

Pan Am has always been synonymous with glamor, and its flight attendants lived their opportunities to the max. Pan Am flight attendants doubled as ambassadors for the airline. Seven former Pan Am flight attendants tell us where they ended up. Memories live on, with many of us becoming members of World Wings International, a non-profit organization of former Pan Am flight attendants. Other former Pan Am flight attendants have unique ways of honoring the airline.

Persons: CNN —, Pan, ”, Camille Lewis, Camille Lewis Camille Lewis's, Camille Lewis’s, Mother Teresa, primatologist Jane Goodall, Michèle Bennett, ‘, Doc ’ Duvalier, Camille, Phillip Keene Phillip Keene, Phillip Keene, Keene, Andrew Eccles, John Gielgud, Tracey Ullman, hairstylist Vidal Sassoon, Huey Lewis, –, “, Buzz Watson, Karren Pope, Onwukwe, Susan L, Taylor, Coretta Scott King, Don King, James Brown, Linda Reynolds, Reynolds, Walter Cronkite, ” Reynolds, Joe, ” Penny Powell Penny Powell, Penny Powell, Powell, Elena Williams Elena Williams, Elena Williams, Williams, John F, Kennedy, Jr, “ I’m Elena Sugarman, ” Annita Thomas Annita Thomas, Annita Stokes Thomas I, jetsetting, I’d, Thomas, Annita Stokes Thomas, William Tolbert, Kurt Strumpf, David Hinson, David Jeffery, Oprah’s, Linda Little Freire, Pan Amer Organizations: CNN, Pan American World Airways, Boeing, Pan, LA, Hollywood, JFK, “ Clippers, JFK Jr, Metropole Hotel, Roberts, Pan Am, “, World Wings, Pan Am Museum Foundation Locations: Rome, Rio, Pakistan, Rio de Janeiro, Nairobi, Caesar’s Beach, Liberia, Saudi Arabia, Haiti, New York, Paris, Los Angeles, California, London, Amsterdam, Switzerland, Italy, Ireland, Dakar, Senegal, La Guardia, Pan, Maryland, Pan Am, Dhahran, Vietnam, Spanish, Chicago, Memphis, Tokyo, West, East Africa, South Georgia, JFK, Narita, Georgia

[1/3] The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. "Core inflation is not coming down like I thought it would," Federal Reserve Gov. The U.S. economy was "still ripping along for the most part," he said, with the underlying pace of price increases "moving sideways." The Fed this week ended its run of 10 consecutive rate hikes when policymakers decided to keep the benchmark overnight interest rate in a range of from 5% to 5.25%. Though Fed chair Jerome Powell at a press conference Wednesday said no decision had been made about the upcoming July Fed meeting, investors and other analysts broadly expect the Fed to resume rate increases.

Persons: Sarah Silbiger WASHINGTON, Christopher Waller, Waller, Thomas Barkin, Barkin, I’m, Jerome Powell, Austan Goolsbee, Goolsbee, Howard Schneider, Chizu Nomiyama, Alistair Bell Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, . Federal Reserve, Federal, Silicon Valley Bank, Richmond Federal, Fed, Chicago Fed, Thomson Locations: Washington ,, Norway, Silicon, U.S, Maryland

[1/3] The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah SilbigerWASHINGTON, June 16 (Reuters) - U.S. Federal Reserve officials struck a hawkish tone in their first comments since the central bank held the policy interest rate steady at its meeting this week but signaled that rate hikes will likely resume. "Core inflation is not coming down like I thought it would," Federal Reserve Gov. The U.S. economy was "still ripping along for the most part," he said, with the underlying pace of price increases "moving sideways." Though Fed chair Jerome Powell at a press conference Wednesday said no decision had been made about the upcoming July Fed meeting, investors and other analysts broadly expect the Fed to resume rate increases.

Persons: Sarah Silbiger WASHINGTON, Christopher Waller, Waller, Thomas Barkin, Barkin, I’m, Jerome Powell, Howard Schneider, Chizu Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, . Federal Reserve, Federal, Silicon Valley Bank, Richmond Federal, Fed, Thomson Locations: Washington ,, Norway, Silicon, U.S, Maryland

watch nowWhat the federal funds rate means for youWage growth hasn't been able to keep pace with higher prices for many Americans. Sarah Silbiger | ReutersThe federal funds rate, which is set by the central bank, is the interest rate at which banks borrow and lend to one another overnight. Here's a breakdown of how that affects consumers:Credit cardsSince most credit cards have a variable rate, there's a direct connection to the Fed's benchmark. As the federal funds rate rose, the prime rate did, as well, and credit card rates followed suit. Today's credit card rates are likely as high as they've been in decades.

Persons: Philipson, Sarah Silbiger, that's, Matt Schulz, they're, Freddie Mac, Sam Khater, Freddie Mac's Organizations: Eccles Federal Reserve, Washington , D.C, Reuters, LendingTree, Treasury, Istock, Getty, U.S . Department of Education Locations: Washington ,

[1/2] The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. They expect the Fed to raise its target rate to 5.25%-5.5% at the July 25-26 meeting. And it's quite likely that if the Fed does hold off on rates it will prep markets for action later on. The last Fed forecasts released at the March meeting had penciled in a 5.1% stopping point for the federal funds rate target, where it is now. Each Fed policymaker's view of the appropriate year-end policy rate is depicted by an anonymous "dot" on a grid.

Persons: Sarah Silbiger, who've, Wrightson ICAP, Wrightson, it's, Jerome Powell's, ’ ”, Powell, Ryan Sweet, Morgan Stanley, Oscar Munoz, Ann Saphir, Michael S, Howard Schneider, Dan Burns Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Federal Reserve, Fed, Bank of America, Citibank, Reuters Graphics Reuters, Deutsche Bank, Oxford Economics, Securities, Derby, Thomson Locations: Washington ,, U.S

☆ First-time homebuyers face a lose-lose scenario
▼ + stars: | 2023-01-29 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com time to read: +5 min

On the agenda today:But first: Our LA bureau chief Alison Brower has been at the Sundance Film Festival this week. Brooke Shields attends the 2023 Sundance Film Festival "Pretty Baby: Brooke Shields" Premiere at Eccles Center Theatre on January 20, 2023 in Park City, Utah. Amy Sussman/Getty ImagesIt was impossible not to feel optimistic about the state of independent film at the opening weekend of the 39th Sundance Film Festival in Park City, Insider's Alison Brower writes. The party scene was as lively as ever, anchored by HBO Documentary Films' annual shindig at Ruth's Chris Steak House. Many experts worry that without some type of major intervention, the obstacles facing first-time homebuyers will continue to get worse for years to come.

☆ Corporate spending likely to continue in 2023 amid recession fears, CFOs say
▼ + stars: | 2023-01-04 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

2023 is arriving with plenty of uncertainty, as recession prospects, continued inflation concerns, and the potential for a consumer spending pullback are all clouding forecasts. But corporate capital spending looks to continue to forge ahead, according to the results of the recent CNBC CFO Council Q4 survey. More than one-third of respondents said that they expect their company's capital spending to increase over the next 12 months, while 39% said their capital spending will stay about the same as last year. Peter Boockvar, chief investment officer at Bleakley Financial Group, said at the Summit that he views corporate capital spending going forward as "bifurcated." Roughly 65% of CFOs responding to the survey said they think inflation has already peaked, while more than 80% are already forecasting a recession for 2023.

☆ The clean energy company turning city blocks greener
▼ + stars: | 2022-12-05 | by ( Jennifer Korn | ) edition.cnn.com time to read: +5 min

New York CNN Business —BlocPower, a Brooklyn-based clean energy company, is bringing eco-friendly, all-electric heating and cooling systems to older buildings in lower income communities, with the goal of reducing carbon footprints and energy bills. By replacing dated equipment like gas powered furnaces with heat pump systems, the company says it is able to dramatically change a building’s environmental footprint. Building owners that have turned to BlocPower say they see a real difference. BlocPower lowered bills, made the energy system quieter, cleaned the air and offered cooling solutions that tenants are thrilled with. “What needs to happen now is we need to shift gears and move the entire infrastructure of energy systems and buildings away from fossil fuels to clean energy,” said Baird.

☆ Here's why the Fed may have won already but is still acting like nothing has improved
▼ + stars: | 2022-11-20 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

We can bet that they will be one-upping each other about how high they want to take fed funds, the overnight bank lending rate. They seem to want to ignore anything that's succeeded since the Fed's rate increase cycle began back in March. I think that, again, if the Fed were to wait through Christmas they would see the layoffs and the corporate failures. One thing that's for certain, the buyers of the 2-year may be more sensitive to the data than the Fed. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Goldman raises forecast for 2023 Fed rate peak by 25 basis points
▼ + stars: | 2022-11-16 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah Silbiger/File Photo(Reuters) - Goldman Sachs on Wednesday raised its forecast for the peak in the federal funds rate by 25 basis points to 5-5.25%, after adding one more quarter-point Federal Reserve hike in May 2023 to its outlook. The bank said in a research note that it now sees the Fed hiking by 50 bp in December and 25 bp in February, March and May.

☆ Fed hopes buoy shares, China COVID easing boosts oil
▼ + stars: | 2022-11-11 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

Oil prices jumped after health authorities in top global crude importer China eased some of the country's heavy COVID curbs. The S&P 500 (.SPX) and Nasdaq (.IXIC) racked up their biggest daily percentage gains in over 2-1/2 years on Thursday after U.S. data showed prices rose less-than-expected in October. Market bets on the Fed raising rates by 50 basis points instead of 75 basis points increased. US inflation, Fed rates and marketsDOLLAR DIVEInvestors poured into risky assets after the U.S. data, with the dollar suffering its biggest daily drop in 13 years on Thursday. Meanwhile, oil prices rose on Friday after the U.S. inflation data but were on track for weekly declines of more than 4% due to COVID-related worries in China.

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. Yet even as markets point to another large increase at the final policy meeting of the year in December, sentiment is building within the Fed to take a breather. Even with the existing rate outlook, it was a "closer call than normal" whether recession can be avoided. Inflation, officials acknowledge, has become broader and more persistent than anticipated, and may be slow to decline. Recent staff estimates, recounted in the minutes of the last Fed meeting, indicated the economy may be much "tighter" than anticipated as high demand strains against potential output that may be more limited than thought.

☆ Analysis: As markets fret, Fed officials reject idea of rising financial stability risks
▼ + stars: | 2022-10-13 | by ( Michael S. Derby | ) www.reuters.com time to read: +6 min

Tobias Adrian, the International Monetary Fund's monetary and capital markets director,wrote on Tuesday that financial stability risks have risen "substantially." Fed officials have lifted the federal funds rate from near-zero levels in March to the current range of between 3.00% and 3.25%. Financial markets expect the Fed to raise the rate again by three-quarters of a percentage point at its next policy meeting in November. More rate rises are very likely after that, with central bankers penciling in a 4.6% federal funds rate by some point in 2023. Making financial conditions more restrictive is key to how monetary policy operates.

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. "There's not really a lot of difference" at this point among Fed officials' views about appropriate policy, Evans said. Evans called that "a pretty good looking soft landing." "While this does represent a noticeably softer labor market when compared with today's, these certainly are not recession-like numbers," Evans said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Howard Schneider; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

☆ Fed to take rates higher than previously expected; more pain ahead
▼ + stars: | 2022-09-28 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

But that is unlikely to push the Fed to switch its policy path anytime soon as Fed Chair Jerome Powell and other policymakers have remained blunt about the “pain” to come. The survey predicted that would be followed by 50 basis points in December to end the year at 4.25%-4.50%. The real policy mistake is not bringing inflation back down to 2%,” said Michael Gapen, chief U.S. economist at BofA Securities. All but two of 51 economists who replied to an additional question said the risks were skewed towards a higher terminal rate than they currently expected. “The only way the Fed can do that is to hike rates and keep policy restrictive until that is achieved.”(For other stories from the Reuters global economic poll:)

☆ Fed to take rates higher than previously expected; more pain ahead - Reuters poll
▼ + stars: | 2022-09-28 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. Asked at a Washington Post event whether he felt U.S. investors had taken an overly optimistic view of Fed policy until a recent sharp sell-off begin, Atlanta Fed president Raphael Bostic said that was beside the point. "Until that happens we're going to see I think a lot of volatility in the marketplace in all directions." "At the moment, inflation remains too high," Collins said in her first policy remarks since becoming head of the bank. The Fed maintains a 2% inflation target, as measured by the personal consumptions expenditures price index.

☆ University of Utah student arrested in alleged threat to detonate school's nuclear reactor if football team lost, officials say
▼ + stars: | 2022-09-22 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

The 21-year-old student posted the threat on the social media application Yik Yak, according to a university statement. “She acknowledged posting the statement and was arrested and taken to the Salt Lake County Jail and booked for making terroristic threats,” officials said. The University of Utah’s nuclear reactor, Hinojosa said, is secured and alarmed and police have unique protocols for managing any breach of the facility. According to the U.S. Department of Energy, the University of Utah is one about 25 universities with a nuclear reactor. Fans watch at the Utah Utes and the San Diego State Aztecs football game in Sept. 17, 2022.

☆ U.S. leading indicator falls for sixth consecutive month in August
▼ + stars: | 2022-09-22 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Sarah SilbigerWASHINGTON, Sept 22 (Reuters) - A gauge of future U.S. economic activity declined for a sixth straight month in August, potentially signaling a recession amid large interest rate increases from the Federal Reserve. The Conference Board said on Thursday its Leading Economic Index fell 0.3% last month after decreasing 0.5% in July. "Economic activity will continue slowing more broadly throughout the U.S. economy and is likely to contract," said Ataman Ozyildirim, senior economics director at the Conference Board in Washington. The Conference Board projects a recession in the coming quarters." It signaled more large increases to come this year.

☆ Central banks raise rates again as Fed drives global inflation fight
▼ + stars: | 2022-09-22 | by ( Francesco Canepa | ) www.reuters.com time to read: +4 min

"We have got to get inflation behind us," Federal Reserve Chair Jerome Powell told reporters after Fed policymakers unanimously agreed to raise the central bank's benchmark overnight interest rate to a range of 3.00%-3.25%. Market participants have also pushed up their rate expectations for the European Central Bank, which is all but certain to hike again on Oct. 23. It is now seen taking its own interest rate to almost 3% next year from 0.75% now. We won't be raising interest rates for some time," Bank of Japan Governor Haruhiko Kuroda said after the policy decision. Meanwhile, Turkey's central bank continued with its unorthodox policy on Thursday by delivering another surprise interest rate cut despite inflation running at more than 80%, sending the lira to an all-time low against the dollar.

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