Federal Reserve Chair Jerome Powell delivered a speech at a forum hosted by Sweden’s Riksbank. He discussed how the U.S. central bank is politically independent and how important this really is to grapple with inflation. Of course, this is hogwash since the Fed is perhaps one of the most political institutions in the United States. […]
Federal Reserve
Federal Reserve Bank of St. Louis accidentally admits U.S. is in a recession
The consensus everywhere is that the United States will slip into a recession. Although economists and market analysts say the U.S. is bracing for an economic downturn, most Americans think the nation is already in a recession, according to a Politico-Morning Consult poll. Who else shares this opinion? The Federal Reserve Bank of St. Louis. […]
WATCH: Jerome Powell’s post-FOMC press conference
The Federal Reserve raised interest rates by an expected 50 basis points to a 15-year high of about four percent. The Federal Open Market Committee (FOMC) also published the latest dot-plot, which does not suggest inflation will rise any higher or the U.S. will slip into a recession next year, although the unemployment rate is […]
Despite strong November jobs report, 7.7 million Americans working two or more jobs
The November jobs report took everyone by surprise again, although this should not be the case anymore, as the monthly employment snapshot continually surprises everyone. That said, the U.S. economy added 263,000 new jobs, higher than the market estimate of 200,000, according to the Bureau of Labor Statistics (BLS). The unemployment rate was unchanged at […]
Federal Reserve raises interest rates to highest level since 2008, signals a pivot in tightening
Interest rates now stand at their highest levels since 2008 after the Federal Reserve pulled the trigger on another 75-basis-point rate hike. The Federal Open Market Committee (FOMC) brought the benchmark fed funds rate to 3.7 percent and 4.00 percent. Investors expect the central bank will agree on another 75-basis-point increase in December. They also […]