The Federal Reserve’s money-printing machines go brrrr … again. In June, the money supply expanded for the second consecutive month, totaling about $200 billion. While the percentage change from a year ago has been in contraction since December and has declined at the fastest pace since the Great Depression, the dollar figure has increased. And, […]
Federal Reserve
Read full FOMC statement as Federal Reserve raises interest rates to highest level since March 2001
The Federal Reserve raised interest rates to their highest levels since 2001. Officials pulled the trigger on a quarter-point increase, lifting the benchmark fed funds rate to 5.25 percent and 5.50 percent. Here is the full Federal Open Market Committee (FOMC) statement: Recent indicators suggest that economic activity has been expanding at a moderate pace. […]
Futures market expecting rate hike on eve of July Federal Reserve meeting
The Federal Open Market Committee (FOMC) has convened its two-day July policy meeting. Investors anticipate that the Federal Reserve will pull the trigger on a quarter-point rate hike tomorrow, according to the CME FedWatch Tool. Here is what the futures market is betting: What happens for the rest of the year remains to be seen. […]
FOMC Minutes: Federal Reserve economists expect ‘mild recession,’ officials anticipate more rate hikes
The Federal Reserve released minutes from the June Federal Open Market Committee (FOMC) policy meeting. Here is a summary: Federal Reserve economists expect a “mild recession” later this year. Some participants were open to a 25-basis-point rate hike. All members agreed that more restriction was coming, with two more rate hikes likely. Committee officials say […]
Federal Reserve’s preferred inflation gauge remains stubborn at 4.6% in May
Headline inflation comes down, but the Federal Reserve’s preferred inflation gauge is struggling to decline. The personal consumption expenditure (PCE) price index eased to 3.8 percent year-over-year in May, down from 4.3 percent in April. PCE rose 0.1 percent, down from 0.4 percent. Core PCE, which is the central bank’s top inflation measurement, dipped to […]