NY Fed President Dudley is in San Juan, Puerto Rico today but his speech was limited to prescriptions for reform and fiscal consolidation. A Q&A is up later so hopefully we hear some comments about the US outlook.
Plosser worried about low market volatility in comments on Fox Business.
Deutsche Bank made its best guesses at which FOMC members belong to each dot on the Fed’s chart released yesterday. These are for Fed funds target rates at the end of 2015 and 2016. There will be some Federal Reserve … Continue reading
Here are the new FOMC central tendency forecasts: Here are the old ones: The big cut in growth expectations brings them into line with the consensus at 2.2% so it’s not a big surprise. Some were expecting inflation forecasts to … Continue reading
Highlights of the June 18 FOMC decision: QE monthly buying cut to $35B from $45B, as expected Rates left at 0 to 0.25%, as expected Highly accommodative policy ‘remains appropriate’ Jobless rate is lower, still elevated Growth in economic activity … Continue reading
1. A sign the Fed is willing to tolerate above-target inflation for a period That’s about the most-dovish realistic surprise in Yellen’s bag of tricks. Wage inflation is still close to nil and Yellen could say she wants to see … Continue reading
Until this release the market had very little reason to tune into tomorrow’s FOMC decision but suddenly there is an inflation story to cling to. What’s especially important in the Fed’s mind is that the rise in today’s inflation data … Continue reading
Highlights of the Fed’s Job Openings and Labor Turnover survey: Prior was 4166K This is a laggy reading (from April) but the Fed loves this report and believe it gives a better indication of the underlying momentum in the jobs … Continue reading
The Federal Reserve announced its tentative schedule for meetings in 2015 today. There was all kinds of talk about more frequent meetings and a press conference after every meeting but in the end, the Fed opted for the status quo … Continue reading
Comments from SF Fed President Williams: Using interest rates to head off financial instability risks unmooring inflation expectations Tools to boost financial stability without eroding central bank’s main aims need further study Nothing really touching in current monetary policy from … Continue reading