Fed will overshoot rate increases
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- Messages
- 43,765
- Reaction score
- 7,435
- Points
- 288
- The central bank’s Federal Open Market Committee on Wednesday is set to release its “dot plot” update of where individual officials expect interest rates to head.
- However, most Fed watchers on Wall Street expect new Chair Kevin Warsh won’t participate, either because he feels he’s not ready or simply because he doesn’t like the dot plot.
- Warsh objects to the grid and other methods of forward guidance because he believes they limit the Fed’s decision-making capabilities.
Fed Chair Warsh expected to withhold 'dot' from central bank's interest rate outlook
The central bank's Federal Open Market Committee is set to release its quarterly update of where individual officials expect interest rates to head.
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Update
Fed Governor Lisa Cook seems safe from Trump firing after Supreme Court arguments
More:
- Fed Governor Lisa Cook’s job seemed safe from firing by President Trump after Supreme Court justices skeptically questioned the Trump administration’s lawyers on Wednesday about the grounds for Cook’s would-be termination and its effect on the Fed’s historical independence.
- The case could have long-term effects on the Fed’s independence in setting interest rates.
- The arguments come less than two weeks after Fed Chair Jerome Powell disclosed he was under criminal investigation by the U.S. attorney’s office in Washington, D.C., over the central bank’s pricey building renovation project.
Fed Governor Lisa Cook seems safe from Trump firing after Supreme Court arguments
Federal Reserve Chairman Jerome Powell planned to attend the oral arguments at the Supreme Court.www.cnbc.com
Update:
US Supreme Court rejects Trump's unprecedented bid to fire Fed's Cook
WASHINGTON, June 29 (Reuters) - The U.S. Supreme Court refused on Monday to let Donald Trump fire Federal Reserve Governor Lisa Cook as it stood firm to preserve the central bank's cherished independence against an unprecedented challenge by the Republican president.The court, in a 5-4 ruling, blocked Trump's bid to become the first president to remove a Fed official since Congress created the central bank in 1913. In his second term as president, Trump has tested the limits of presidential power in numerous other ways as well.
The ruling follows the February 20 decision by the justices in another case with major economic ramifications to strike down most of Trump's sweeping global tariffs, a ruling that elicited a vitriolic condemnation of the court by the president.
More:
https://www.msn.com/en-us/news/us/u...-fire-fed-s-cook/ar-AA26NTRw?ocid=socialshare
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- Fed Chairman Kevin Warsh on Tuesday, in remarks he delivers to Congress this week, vowed to defeat inflation and “get monetary policy right.”
- While he promised to tackle inflation, the central bank leader said the economy is in otherwise solid shape and will reap untold benefits from artificial intelligence investment.
- Warsh took aim at prior Fed policy, specifically the flexible inflation targeting adopted in 2020. “That central bank wasn’t the first central bank to ask for a little more inflation and end up with a lot more. It was a mistake,” he said.
- “The members of our Committee have no tolerance for persistently elevated inflation. And we share a resolute commitment to restoring price stability,” he said.
Warsh pledges Fed policy 'regime change' to rid inflation 'tax' on American people
Warsh pledged Tuesday to "get monetary policy right" and defeat the inflation that has bedeviled the central bank for the past five years.
New York Fed President Williams says inflation has peaked, rates ‘well positioned’
CNBC
New York Federal Reserve President John Williams said Wednesday that he sees multiple signs that inflation has peaked, allowing the central bank to hold interest rates in place despite market expectations for a hike in coming months.
CNBC
New York Federal Reserve President John Williams said Wednesday that he sees multiple signs that inflation has peaked, allowing the central bank to hold interest rates in place despite market expectations for a hike in coming months.
Yeah.
Prosperity is just around the corner.
Happy Days are here again.
And, I will TEMPORARILY suspend conversion of dollars into gold.
Ten days to slow the spread...
Any moar pronouncements you'd care to remember?
Can't really blame Nixon for that. He was merely reacting to a situation that had been decades in the making.
It was either close the gold window or watch the gold reserves run dry.
He did what any reasonable person, given the power to do so, would have done.
To not, would be an intentional decision to allow collapse under his watch.
No one wants that kinda heat.
Think what that "collapse" would have saved in the then-future.
Vietnam was never a declared war - it was Johnson's abuse of his role as CinC to send the troops in.
Nixon...gee, he coulda stuck by his pledge pulled them out, and had JOHNSON arrested and tried for Treason.
That wouldn't have been so off-the-wall, either. Lyndon Johnson was scum of the Earf.
We'd have had problems. Working them through would have left us stronger for the years ahead.
Except for our then-new, blossoming Political Elite Class...the result of Amendment 17 and the