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☆ The Fed is winning its battle against inflation. So why isn’t it cutting rates?
▼ + stars: | 2024-06-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

That’s why it is crucial for central bankers to insist on 2%. “By communicating an explicit inflation target — and then delivering inflation consistent with that target — central banks earn credibility with the public,” New York Fed President John Williams said in a recent speech. Stripping away highly volatile categories such as food and energy — a measure referred to as “core” inflation — won’t quell central bankers’ concerns. The Fed can’t ignore CPIAlthough CPI isn’t the inflation gauge the Fed targets, central bankers don’t write it off. It was, however, welcome news to Fed officials that Consumer Price Index-measured inflation fell to 3.4% in April from 3.5% in March.

Persons: Frank Robinson, “, they’re, Jerome Powell, ” Powell, Ben Bernanke, they’ll, John Williams, hasn’t, ”, Tom Barkin, don’t, Christopher Waller Organizations: New, New York CNN —, Federal, Fed, New York Fed, ” New York Fed, ” Richmond Fed, CPI Locations: New York

☆ May Richmond Fed manufacturing index remains unchanged
▼ + stars: | 2024-05-29 | 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 EmailMay Richmond Fed manufacturing index remains unchangedCNBC's Rick Santelli reports on the latest economic data to cross the tape.

Persons: Rick Santelli Organizations: Richmond Fed

☆ The key for markets next week will be inflation as stocks try to maintain record highs
▼ + stars: | 2024-05-24 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The news will come with stocks on pace to close out a strong month that included all-time highs. Stocks are poised to end an impressive month of gains after some softer inflation data released earlier in May and stronger-than-expected corporate earnings revived investor exuberance in the market rally. On Friday, the 30-stock Dow was on pace to snap a five-week win streak, falling by 2% for the period. Pesky inflation, consumer weakness The April personal income and expenditures report, which includes the PCE inflation reading, could confirm the recent trend of cooling inflation. Pending Home Sales (April) Earnings: Costco Wholesale , Ulta Beauty , NetApp , Best Buy , Dollar General , Hormel Foods Friday, May 31 8:30 a.m.

Persons: Dow, Mike Dickson, Dickson, FactSet, Goldman Sachs, David Mericle, Steph, it's, Christian Mueller, Glissmann, Mueller Organizations: Dow Jones, Nasdaq, Horizon Investments, Fed, PCE, Robinhood, Costco Wholesale, Software, Dallas Fed, Richmond Fed, Hormel, Chicago PMI Locations: Chicago

☆ Stock futures are little changed after Nasdaq Composite hits all-time high: Live updates
▼ + stars: | 2024-05-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are near flat Monday night after the technology-heavy Nasdaq Composite closed at an all-time high. Dow Jones Industrial Average futures lost just 27 points, while S&P 500 futures also sat near its flatline. Those moves come after a mixed day on Wall Street. But the blue-chip Dow slipped almost 200 points, or 0.5%. Monday's action follows a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy.

Persons: Dow, Jamie Dimon, Keith Buchanan, Christopher Waller, Tom Barkin, Raphael Bostic Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, Palo Alto Networks, LSEG, Nvidia, JPMorgan, Globalt Investments, Federal, Richmond Fed, Atlanta Fed, Traders

☆ Richmond Fed President Tom Barkin: People are still trying to take price on the services side
▼ + stars: | 2024-05-16 | 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 EmailRichmond Fed President Tom Barkin: People are still trying to take price on the services sideRichmond Fed President Tom Barkin joins 'Squawk on the Street' to discuss how much ability companies have to pass along higher prices, the Fed president's thoughts on the latest CPI report, and more.

Persons: Tom Barkin Organizations: Richmond Fed

☆ Dow crosses 40,000 for the first time
▼ + stars: | 2024-05-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —The Dow broke past the 40,000 threshold Thursday morning for the first time ever, fueled by an encouraging inflation report. It also highlights a notable contrast between sentiment on Wall Street and Main Street. Dow 100: The Dow first closed in triple digits in January 1906. The Dow nearly matched that in 2017, rising 25%. Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.

Persons: Dow, stoking, ”, Gary Pzegeo, John Williams, Tom Barkin, ” Tyler Schipper, Thomas, Hogan, Teddy Roosevelt, Richard Nixon, Trump, Covid Organizations: New, New York CNN, Markets, Federal Reserve, Bureau of Labor Statistics, CIBC Private Wealth, ”, Walmart, Airlines, Big Tech, York Fed, Reuters, Richmond Fed, Dow, University of Michigan, CNN, CPI, University of St, Riley Financial, Wall, Microsoft, Chevron, Traders, New York Stock Exchange, Getty, Federal, Woolworth, Eastman Kodak Locations: New York, United States, Minnesota, Chevron —, AFP

☆ Stock market today: Indexes slip after Dow crosses 40,000 for the first time
▼ + stars: | 2024-05-16 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Stocks turned lower and closed in the red on Thursday after the Dow briefly crossing 40,000 for the first time. The S&P 500 failed to extend its gains after closing at a record high on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Dow failed to close above the key threshold, and the S&P 500 struggled to consolidate gains after hitting a record close on Wednesday. AdvertisementBroadly, the Fed speakers on Thursday painted a picture of a central bank in no hurry to pivot as inflation remains above its 2% target.

Persons: Stocks, —, Dow, Tom Barkin, John Williams, Barkin Organizations: Dow, Service, Dow Jones, Federal Reserve, Richmond Fed, York Fed, Reuters, CNBC Locations: Here's

☆ 10-year Treasury yield rises as investors consider remarks from Fed officials
▼ + stars: | 2024-05-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were higher on Thursday as investors considered remarks from Federal Reserve officials, scanning them for hints about the interest rate outlook. Collins' comments echoed those made by Minneapolis Fed President Neel Kashkari and Richmond Fed President Tom Barkin earlier in the week. More Fed officials are set to speak on Thursday and Friday. Elsewhere, the Bank of England is due to announce its latest interest rate decision on Thursday. The BoE is widely expected to leave interest rates unchanged, but investors will be scanning Governor Andrew Bailey's statement for hints about a potential summer rate cut.

Persons: Susan Collins, Collins, Neel Kashkari, Tom Barkin, BoE, Andrew Bailey's Organizations: Treasury, Federal Reserve, Boston, Wednesday, Minneapolis, Richmond Fed, Fed, Bank of England

☆ Treasury yields inch higher as investors weigh interest rate outlook
▼ + stars: | 2024-05-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Yields and prices have an inverted relationship and one basis point equals 0.01%. ET the yield on the 10-year Treasury was up by more than 1 basis point at 4.479%. U.S. Treasury yields were slightly higher Wednesday as investors weighed the latest remarks from Federal Reserve officials, looking for clues on the path ahead for interest rates. Last week, Fed Chair Jerome Powell said the Fed was unlikely to hike rates at its next meeting. More comments from Fed officials are expected throughout the week, which investors will be scanning for hints about the monetary policy outlook.

Persons: Neel Kashkari, Tom Barkin, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, Minneapolis, Richmond Fed

☆ Treasury yields fall as investors consider Fed policy path
▼ + stars: | 2024-05-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last over one basis point lower to 4.8095%. U.S. Treasury yields declined on Tuesday as investors considered the outlook for Federal Reserve monetary policy following the latest economic data and remarks from central bank officials. In recent weeks, expectations have moved toward there being fewer rate cuts in 2024 than previously expected, or even none. Barkin's comments came after a weaker-than-expected April jobs report released at the end of last week had buoyed hopes about rate cuts. More Fed policymakers are slated to make remarks throughout the week, which investors will be watching closely for additional hints about the policy outlook.

Persons: Tom Barkin Organizations: Treasury, U.S, Federal Reserve, Investors, Richmond Federal, Fed

☆ Stock futures inch higher Sunday after weaker-than-expected jobs report left investors looking up: Live updates
▼ + stars: | 2024-05-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Dow Jones Industrial Average futures rose 66 points, or around 0.2%. Last week, the Dow and Nasdaq gained 1.1% and 1.4% each, while the S&P 500 gained 0.5%. But the April jobs report helps clear a path to that destination," said Comerica Bank chief economist Bill Adams. While the peak of the first-quarter earnings season has passed, investors are still watching key companies set to report this week, including Dow member Disney on Tuesday and Uber on Wednesday. On the economic front, Richmond Fed president Tom Barkin and New York Fed president John Williams are both scheduled to speak on Monday.

Persons: Dow, Bill Adams, Warren Buffett's Berkshire Hathaway, Uber, Emmanuel Cau, Tom Barkin, John Williams Organizations: New York Stock Exchange, U.S ., Federal Reserve, Dow Jones Industrial, Nasdaq, Dow, Traders, Comerica Bank, Apple, Disney, Barclays, Richmond Fed, New York Fed Locations: New York City, U.S, U.S . U.S

☆ Investors are hoping Big Tech earnings next week could revive a flagging bull market
▼ + stars: | 2024-04-19 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The Big Tech earnings next week could revive a flagging market, or at least give investors direction into where stocks are going from here. Wall Street is hoping next week's megacap tech results will give investors insight into where the artificial intelligence trade is going from here, as a bounce in tech could lift the indexes. They're also hoping a slew consumer commentary will give investors insight into the state of the economy. However, he said any pullback in the tech names could give investors an opening to start "nibbling away" at additional exposure. Personal Income 10 a.m. Michigan Sentiment NSA final Earnings: T. Rowe Price Group , Colgate-Palmolive , Exxon Mobil , Chevron , AbbVie , Phillips 66

Persons: Tesla, They're, Kim Forrest, Elon Musk, Emily Leveille, Scott Ladner, Ladner, Horizon's Ladner, FactSet, Baker Hughes, Philip Morris, Lockheed Martin, Raymond James Financial, Rowe Price, Phillips Organizations: Big Tech, Google, Microsoft, Bokeh, Nasdaq, Investors, Deutsche Bank, Reuters, Thornburg Investment Management, Meta, Consumer, Visa, Chicago, Verizon Communications, Ameriprise, Truist, PMI, New, Richmond Fed, Enphase, Tesla, NextEra, Philip Morris International, Halliburton, United Parcel Service, PepsiCo, Lockheed, Raytheon Technologies, GE Aerospace, Grill, Business Machines, Lam Research, Ford Motor, Technology, Waste Management, Universal Health Services, Raymond, Boeing, Hilton Worldwide Holdings, . Kansas City Fed Manufacturing, Mobile, Capital, Financial Corp, Intel, Western Digital, Comcast, American Airlines Group, Southwest Airlines, Valero Energy, Caterpillar, Tractor Supply, Royal Caribbean Group, GE, PCE, NSA, Rowe Price Group, Colgate, Palmolive, Exxon Mobil, Chevron Locations: China, Europe, U.S, NextEra Energy, Freeport, McMoRan, . Kansas, Michigan, AbbVie

☆ Biden’s manufacturing industry is expanding, but that could be bad for inflation
▼ + stars: | 2024-04-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.

Persons: Joe Biden, ”, Tom Barkin, “, Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock

☆ 10-year Treasury yield slightly higher as investors await Fed speeches, economic data
▼ + stars: | 2024-04-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

The 2-year Treasury note yield traded marginally higher at 4.685%. The 10-year Treasury yield was slightly higher on Thursday as investors closely monitored speeches from a host of Federal Reserve officials and awaited the release of key economic data. It comes as market participants continue to keep track of comments from Fed officials and await the release of the U.S. jobs report on Friday. A flurry of Fed speeches are also scheduled to take place. Philadelphia Fed President Patrick Harker, Richmond Fed President Tom Barkin and Minneapolis Fed President Neel Kashkari are just some of the officials poised to deliver comments on the outlook for the U.S. economy.

Persons: Jerome Powell, Powell, Patrick Harker, Tom Barkin, Neel Kashkari, —, Jeff Cox Organizations: Federal Reserve, Stanford University, Traders, Philadelphia Fed, Richmond Fed, Minneapolis Fed Locations: U.S, Richmond

The yield on the 2-year Treasury yield was flat at 4.593%. The 10-year U.S. Treasury yield fell slightly on Tuesday as investors weighed the previous day's data points and looked ahead to key inflation figures later in the week. Last week, the central bank indicated that rates will fall this year, although Chairman Jerome Powell stressed that the economic outlook remains uncertain. The Dallas Fed manufacturing index for March also fell to -14.4, below expectations, although the Chicago Fed national activity index improved. There are also several auctions on the slate, including of 17-week, 4-week and 8-week Treasury bills.

Persons: Jerome Powell, Raphael Bostic, Jim Reid, Reid Organizations: Treasury, Federal Reserve, Atlanta Fed, Deutsche, Dallas Fed, Chicago Fed, Richmond Locations: U.S

☆ Stock futures are little changed as major averages’ rally takes a breather: Live updates
▼ + stars: | 2024-03-25 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) on March 20, 2024 in New York City. U.S. stock futures traded near the flatline Monday night, after the major averages took a breather from their rally. Month to date, the major U.S. stock benchmarks are on pace for their fifth straight month of gains. Despite some concerns that the market rally has crossed into overbought territory, investors still can't be underweight on equities as of now, according to 3Fourteen Research cofounder Warren Pies. Durable goods orders and the Richmond Fed's manufacturing survey will also provide insight on the health of the manufacturing sector.

Persons: Dow, Warren Pies, CNBC's Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Richmond Locations: New York City . U.S, U.S, overbought

☆ Fed Chair Powell says there’s no rush to cut interest rates
▼ + stars: | 2024-03-06 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —The Federal Reserve is in no rush to cut interest rates, according to Fed Chair Jerome Powell’s written testimony submitted to congressional lawmakers, released Wednesday. Recent economic data showed that price pressures persisted in January, leading investors to recalibrate their expectations for rate cuts this year. Still, the timing and pace of rate cuts remains up in the air. Too soon to cut rates? In a recent interview with CNBC, Richmond Fed President Thomas Barkin said “we’ll see” if the Fed cuts rates in 2024.

Persons: Jerome Powell’s, Powell’s, inflation’s, ”, José Torres, “ Young, there’s, Raphael Bostic, Thomas Barkin, “, “ I’m, Austan Goolsbee, we’re, Adriana Kugler Organizations: DC CNN, Federal, Fed, Financial, “, Interactive Brokers, CNN, Atlanta Fed, CNBC, Richmond Fed, Congress, Chicago Fed, ”, Stanford University Locations: Washington

☆ Premarket stocks: Why it’s not all doom and gloom for commercial real estate
▼ + stars: | 2024-03-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —After decades of growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. I take that as a signal of a potential turn in the CMBS market in terms of the market sentiment. It’s not just all gloom and doom in the CRE market. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. OPEC+, a coalition of the world’s top oil producing countries, had announced voluntary oil cuts of 2.2 million barrels per day in November.

Persons: Tracy Chen, Chen, that’s, Bell, Banks aren’t, CMBS, We’ve, they’ve, —, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, Eva Rothenberg, Brent, Goldman Sachs Organizations: CNN Business, Bell, New York CNN, New York Community Bancorp, Brandywine, Intercontinental Exchange and Bank of America, outperformance, Fed, New York Community Bank, York Community Bank, Federal, Apollo Global Management, Richmond Federal, CNBC, OPEC, AAA Locations: New York, Japan, Switzerland, Germany, New, New York City, Richmond, OPEC, Saudi Arabia, Russia, Iraq, United States

☆ Richmond Fed President Tom Barkin: Got a shot to bring inflation down 'very close to our target'
▼ + stars: | 2024-03-01 | 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 EmailRichmond Fed President Tom Barkin: Got a shot to bring inflation down 'very close to our target'CNBC’s Steve Liesman and Richmond Fed President Tom Barkin join 'Squawk Box' to discuss the state of the U.S. economy, whether the culture of raising prices is still in effect, the Fed's interest rate outlook, and more.

Persons: Tom Barkin, Steve Liesman Organizations: Richmond Fed Locations: U.S

☆ The US economy is so strong that there might not be any rate cuts in 2024
▼ + stars: | 2024-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Now, some economists think the Fed won’t cut interest rates at all this year. “The Fed will not cut rates this year and rates are going to stay higher for longer,” he added. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. In some ways, the expectations of interest rate cuts by the Fed undermined their efforts to actually cut the rates. Still, about half of investors are expecting an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool.

Persons: —, that’s, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, ” Robert Frick, ”, Powell Organizations: New, New York CNN, Federal, Apollo Global Management, Richmond Federal, CNBC, Navy Federal Credit Union, CNN, Fed, National Federation of Independent, Investors, Financial Services, Senate Locations: New York, Richmond

☆ Wall Street will try to maintain AI-fueled momentum in the final week of February, as inflation concerns linger
▼ + stars: | 2024-02-23 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

In the final week of February, Wall Street will strive to maintain its AI-fueled rally even as economic concerns linger and the Federal Reserve's favorite inflation measure is on deck. But many worry the writing is on the wall for these market leaders as economic and inflation risks linger. The 'lone cloud' of inflation The Fed's preferred inflation gauge will also be released in the week ahead. Investors are concerned that sticky inflation will mean that the Fed will hold onto its higher-for-longer interest rate policy. Next week will also be the final week of February, with stocks headed for another strong month of gains.

Persons: Goldman Sachs, Patrick McDonough, Europe's, PGIM's McDonough, McDonough, Charlie Ashley, Dhaval Joshi, Joshi, Ashley, John Williams, TJX Cos Organizations: Dow Jones Industrial, Nasdaq, Nvidia, Japan's Nikkei, Catalyst Funds, BCA Research, CPI, PPI, Dow, New, Dallas Fed, Fidelity National Information Services, Richmond Fed, eBay, Enterprise, Cruise Line Holdings, New York Federal Reserve Bank, York, Monster Beverage, Paramount Global, PCE Deflator, Chicago PMI, . Kansas City Fed Manufacturing, Hewlett Packard Enterprise, Autodesk, Body, Hormel, PMI, Manufacturing Locations: U.S, Lowe's, Chicago, . Kansas, Michigan

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

☆ Elizabeth Warren rips Fed for fueling affordability crisis in housing, calls for rate cuts
▼ + stars: | 2024-01-29 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —America has a housing affordability crisis and Elizabeth Warren blames Jerome Powell and his colleagues at the Federal Reserve. To fight inflation, the Fed spiked interest rates at the fastest pace since the early 1980s. However, the Fed’s war on inflation set off shockwaves in the housing market. The one-two punch of elevated borrowing costs and record-high home prices has made the housing market historically unaffordable. “High interest rates have aggravated the country’s crisis of housing access and affordability,” the Senate Democrats wrote.

Persons: Elizabeth Warren, Jerome Powell, Powell, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, Freddie Mac, “, Tom Barkin didn’t, ” Organizations: New, New York CNN, Federal Reserve, CNN, Democratic, Democrats, Fed, National Association of Home Builders, Mortgage Bankers Association, National Association of Realtors, Richmond Fed Locations: New York, America, White

☆ Former Richmond Fed President Lacker: Reasonable to expect 2-3 rate cuts this year
▼ + stars: | 2024-01-29 | 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 Richmond Fed President Lacker: Reasonable to expect 2-3 rate cuts this yearJeffrey Lacker, former president of the Federal Reserve Bank of Richmond, joins 'Money Movers' to discuss his take on where market expectations are for the Fed, whether the six-month annualized inflation figure is reliable to monitor, and more.

Persons: Lacker, Jeffrey Lacker Organizations: Former Richmond Fed, Federal Reserve Bank of Richmond

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