Two Federal Reserve officials explained why they supported a 50 basis point rate cut, citing progress on inflation and a cooling job market.
Two Federal Reserve officials explained why they were in favor of reducing interest rates by a jumbo 50 basis points instead of a smaller first cut, citing progress on inflation and a cooling job market .
"I see the risk that the Committee’s larger policy action could be interpreted as a premature declaration of victory on our price stability mandate," Bowman said in a statement. Analysts expect Friday's PCE reading to come in at 2.3% year over year, down from the prior month's 2.5% annual increase, according to Bloomberg data.
While a softening job market suggests a weakening economy, he added, other measures suggest economic strength, pointing to resilience in GDP and consumer spending that suggest still-solid underlying demand. Justice Department filing shows handwritten note saying he intended to kill former president as well as list of dates and venues where Trump would appearNEW YORK — U.S. stock indexes are hanging near their all-time highs in quiet trading. The S&P 500 was up 0.1% in early trading Monday. The benchmark index is coming off its fifth winning week in the last six, and is approaching its record set on Thursday. The Dow Jones Industrial Average was up 70 points, or 0.2%.
Raphael Bostic Federal Reserve Michelle Bowman Basis Points Job Market Interest Rates Federal Reserve Bank Policy Decision
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sureThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Atlanta Fed’s Bostic violated trading rules, U.S. central bank watchdog saysThe Inspector General report on Bostic’s finances is the third and likely last to detail issues with the investing and trading activities of some current and former Fed policymakers
Read more »
Fed's Bostic warns against keeping restrictive policy stance for too longThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Fed's Bostic violated trading rules, watchdog findsAtlanta Fed president Raphael Bostic violated Federal Reserve rules regarding how officials can trade and invest, according to the central bank's inspector...
Read more »
Neel Kashkari Backed Fed’s Large Cut and Another Half-Point This Year(Bloomberg) -- Federal Reserve Bank of Minneapolis President Neel Kashkari signaled he backs lowering interest rates by another half percentage point by year...
Read more »
Fed's Bostic: Economy returning to normal faster than expected so policy should as wellThe U.S. economy is close to normal rates of inflation and unemployment and the Federal Reserve needs monetary policy to 'normalize' as well, Atlanta Federal...
Read more »