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The war on inflation is far from won, with the Fed's preferred measure of price increases still running at roughly three times the central bank's 2% target. That's the biggest ramp-up in U.S. rates over a nine-month period since Volcker battled even higher inflation in the early 1980s. Powell, who this year marked a decade since his appointment as a Fed governor and whose second term as Fed chief extends to 2026, has overseen some divided decisions. In a best-case scenario, inflation continues to fall and Fed officials, whether hawk or dove, align around a stopping point for the policy rate that doesn't lead to a sharp rise in unemployment. Reporting by Howard Schneider; Additional reporting by Ann Saphir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Recession shaping up to be mild downturn, says Princeton's Alan Blinder
▼ + stars: | 2022-10-24 | 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 EmailRecession shaping up to be mild downturn, says Princeton's Alan BlinderAlan Blinder, former Federal Reserve vice chairman and Princeton University professor, joins 'Squawk on the Street' to discuss if the peak Federal Funds rate will be enough to drive the economy into recession, Blinder's expectations for the next Federal Reserve meeting and more.

☆ Markets won’t go back to normal until the Fed stops hiking rates
▼ + stars: | 2022-10-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

What’s happening: Markets and the Federal Reserve have conflicting temperaments, said Blinder. Markets are capricious while the Fed remains calm. Markets on average, said Blinder, overreact to inflation-related data by a factor of three to 10 times more than they should. The central bank announced Monday that it would provide extra support to UK markets, beefing up its efforts to ensure financial stability, reports my colleague Julia Horowitz. The research is especially relevant today as rapid interest rate hikes to combat inflation have sent markets into turmoil, drawing comparisons to 2008.

☆ The Fed’s Surprising Record With ‘Soft Landings’ From Inflation
▼ + stars: | 2022-09-23 | by ( Alan S. Blinder | ) www.wsj.com time to read: 1 min

This week the Federal Reserve raised interest rates by 0.75 percentage point for the third time in six months, in an effort to combat inflation. The move made investors worry more about a recession, even though Fed Chair Jerome Powell and other members of the Federal Open Market Committee (FOMC) have repeatedly expressed their desire to produce a “soft landing”—meaning, roughly, to reduce inflation without causing a recession, albeit with some slowdown in growth. Critics have expressed skepticism that this can be done. Many economists believe that the Fed has managed a soft landing only once in 11 tries over the last 60 years, in 1994-95. History, these critics argue, says that the Fed will either raise interest rates too little and fail to defeat inflation or go too far and precipitate a recession—a “hard landing.”

☆ 'Crazy stuff is happening at my work': Silicon Valley engineers are really freaking out right now
▼ + stars: | 2022-06-01 | by ( Adam Rogers | ) www.businessinsider.com time to read: +11 min

Silicon Valley, perhaps even more than the rest of corporate America, has long been engaged in a two-sided battle over the pursuit of happiness. In the Silicon Valley that emerges on Blind, the engineers who strive for work-life balance are just as burned out as the late-night grinders. But Silicon Valley has always overindexed for Optimizers. If this is Silicon Valley today, nobody's happy, and everybody's burnt. Stereotypically, Silicon Valley engineers are grinders.

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