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| Economy |
| Federal Reserve: Rates to Increase Some More |
| 2023-03-08 |
| [FinanceYahoo] Federal Reserve Chair Jerome Powell told lawmakers on Tuesday interest rates are likely to rise more than previously expected as the central bank works to bring down inflation, which remains stubbornly above the central bank's 2% target. .... Powell told the Senate Banking Committee in prepared remarks. "If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes." "Although inflation has been moderating in recent months, the process of getting inflation back down to 2 percent has a long way to go and is likely to be bumpy," Powell added. the word 'bumpy' may mean the next raise will be 50 basis points Related: Federal Reserve: 2023-03-05 The US Federal Reserve said in a report Friday that interest rate increases will continue in order to lower high inflation Federal Reserve: 2023-02-28 Russian aluminum will save the American economy Federal Reserve: 2023-02-21 What Ukraine means for the world: The outcome of the conflict will determine the West's authority |
| Posted by:lord garth |
| #3 Three January inflation numbers--CPI, PPI, and PCE deflator--were all nasty surprises. This is no time to let up. The Fed has actually been pretty tight on money supply in the last year. But they have yet to make a meaningful dent in the $3 trillion they threw into the economy in 2020. It's still there, sloshing around and pumping up prices. |
| Posted by: Tom 2023-03-08 11:59 |
| #2 The Fed is theoretically independent. If they really were, they could announce that for every new spending by Congress that they'd raise interest rates a half a point. That would be 'interesting'. |
| Posted by: Procopius2k 2023-03-08 07:17 |