News list for " says inflation"
Inflation will slow significantly this year, allowing the Federal Reserve to keep cutting interest rates, according to former St. Louis Fed President Brad. Brad said it looks like the Fed is on track to cut rates two more times this year, by 25 basis points each. Fed officials were expecting two rate cuts in December. "I don't really see anything stopping them from doing that," he said. However, Brad said another rate cut in March appears premature. He said: "From what's going on...
President-elect Donald Trump says inflation is too high and continues to surge.
The Federal Reserve's FOMC statement said inflation had made further progress towards its 2 per cent target but remained "slightly elevated" and that risks to the employment and inflation targets were balanced. Members voted 11-1 to approve the rate decision, with Governor Bowman dissenting that interest rates should be cut by 25 basis points.
Fed Governor Bowman said there are upside risks to inflation and continued strength in the labor market, suggesting she may not be prepared to support a rate cut at the next meeting of U.S. central bankers in September. She said the progress made in reducing inflation in May and June was welcome, but it was troubling that inflation remained above the committee's 2 percent objective, and I would be cautious as I consider adjusting my current policy stance. She also said that U.S. fiscal policy, t...
The Federal Reserve's Goolsbee said that the inflation report for June was excellent, and depending on the data, a rate cut or a series of rate cuts could be considered.
Fed Chairperson Jerome Powell said inflation had slowed significantly, but remained above the 2 per cent target. Quarter 1 data "do not support" more confidence in the path of inflation, which is what the Fed needs to cut interest rates. GDP growth appears to have slowed in the first half of 2024.
Mr. Bostic said inflation was moving in the "right direction" and that a rate cut was likely in the fourth quarter of this year, with four quarterly rate cuts of 25 basis points expected in 2025.
