Federal Reserve Vice Chair Lael Brainard is stepping down from her position to serve as President Joe Biden’s top economist. Now that National Economic Council (NEC) director Brian Deese is leaving the White House, and presumably returning to Wall Street, reports suggest that Brainard is expected to become his replacement. In addition, Jared Bernstein, a […]
Federal Reserve
Collapse in money-supply growth supports U.S. recession case
By: Ryan McMaken Money supply growth fell again in December, falling even further into negative territory after turning negative in November for the first time in twenty-eight years. December’s drop continues a steep downward trend from the unprecedented highs experienced during much of the past two years. During the thirteen months between April 2020 and April […]
Futures market betting Federal Reserve will cut interest rates in September
The financial markets continue to fight the Fed. Despite the Federal Open Market Committee (FOMC) promising “future increases” and Federal Reserve Chair Jerome Powell vowing to keep raising interest rates until inflation has been vanquished, investors are anticipating a pause soon and then a pivot by the fall. Here is a look at the market […]
‘Ongoing Increases’: Read full FOMC statement from February meeting
Here is the full statement from the Federal Open Market Committee (FOMC) following its February meeting: Recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment rate has remained low. Inflation has eased somewhat but remains elevated. Russia’s war against Ukraine is causing tremendous […]
Markets expect 25-basis-point rate hike at tomorrow’s FOMC meeting
The Federal Reserve will complete its two-day Federal Open Market Committee (FOMC) policy meeting on Wednesday. With inflation showing signs of cooling down and the economy slowing, will the U.S. central bank keep raising interest rates, or will it pause and pivot? Here is what investors anticipate, according to the CME FedWatch Tool: