Time out nyc september 2016 art12/13/2023 ![]() ![]() “If inflation does not continue to show progress and there are no suggestions of a significant slowdown in economic activity, then a second 25-basis-point hike should come sooner rather than later, but that decision is for the future.” “From there, I will need to see how the data come in,” he said. “Since the June meeting, with another month of data to evaluate lending conditions, I am more confident that the banking turmoil is not going to result in a significant problem for the economy, and I see no reason why the first of those two hikes should not occur at our meeting later this month,” Waller said at a Money Marketeers of New York University forum on Thursday.īut he also suggested that the Fed prefers to get rate hikes over with as soon as possible. Why the bias is toward hiking in Septemberįed Governor Christopher Waller, who has a permanent vote on the Fed committee that decides interest rates, doubled down late last week on the widely held view among Fed officials that two more rate hikes are needed this year. Right now, it seems like the hawks outnumber the doves. That’s why the vote in June was unanimous, despite the debating that was evident from the meeting minutes, released earlier this month. The central bank has a tradition of collegiality, meaning that although officials debate their views, they still respect the view of the majority. Fed Chair Powell has said the Fed still has more work to do, and he himself hasn’t ruled out back-to-back rate hikes. What is clear, however, is that the Fed chair historically has a major influence in the Federal Open Market Committee, the Fed’s monetary policymaking arm. The debate over pausing at the Fed was intense, minutes show The US Federal Reserve expects to continue raising interest rates but to slow down the pace of hikes, Fed chair Jerome Powell told a Congressional hearing Wednesday. Federal Reserve Board Chairman Jerome Powell testifies before a House Financial Services Committee hearing on the Federal Reserve's Semi-Annual Monetary Policy Report, on Capitol Hill in Washington, DC, on June 21, 2023. ![]()
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