Published 1 year ago

2 Fed officials favor keeping key rate at peak through 2023 - Local News 8

Summary by Ground News

Two Federal Reserve officials said they favor raising the Fed’s key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected. John Williams, president of the Federal Reserve Bank of New York, said that the central bank has “more work to do” to reduce inflation closer to its 2% target.

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Reuters

Fed could lower interest rates in 2024, Williams says

New York Federal Reserve President John Williams on Monday said the U.S. central bank needs to press forward with rate rises but did not say how fast and how far it will need to boost short-term borrowing costs, even as he reckons a rate cut is possible in 2024 as inflation pressures likely ease.

1 year ago·United Kingdom

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Associated Press News

2 Fed officials favor keeping key rate at peak through 2023

James Bullard, president of the St. Louis Fed, suggested that financial markets are underestimating the likelihood the Fed will have to be more aggressive.

1 year ago·United States

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abc News

2 Fed officials favor keeping key rate at peak through 2023

Two Federal Reserve officials said they favor raising the Fed’s key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected

1 year ago·United States

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KIFI

2 Fed officials favor keeping key rate at peak through 2023

By CHRISTOPHER RUGABER AP Economics WriterWASHINGTON (AP) — Two Federal Reserve officials said they favor raising the Fed’s key rate to roughly 5% or more and keeping it at its peak through next year — longer than many on Wall Street have expected. John Williams, president of the Federal Reserve Bank of New York, said that the central bank has “more work to do” to reduce inflation closer to its 2% target. And James Bullard, president of the St. …

1 year ago·Idaho Falls, United States

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New York Post

Don’t expect Fed to cut rates in 2023: official

New York Federal Reserve President John Williams on Monday declined to say how fast and how far he believes the US central bank will need to raise interest rates over coming months but reckons a rate cut is possible in 2024 as inflation pressures ease.

1 year ago·New York, United States

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The Hill

Fed president sees inflation fight stretching into 2024

The Federal Reserve head in St. Louis expects the central bank’s fight to curb high inflation in the U.S. economy to stretch into 2024. St. Louis Federal Reserve President James Bullard told MarketWatch’s economics editor Greg Robb the Fed could slowly raise interest rates to a range of 5 percent to 7 percent. “I think […]

1 year ago·Washington, United States

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