Stephen Miran, a Federal Reserve governor whose term ends at the end of January, said Thursday that he is looking for 150 basis points of interest-rate cuts this year to boost the U.S. labor market. Miran told Bloomberg Television's Surveillance program that Fed officials had room to further reduce rates given his view that underlying inflation was likely running at 2.3%. "I'm looking for about a point and a half of cuts. A lot of that is driven by my view of inflation," Miran said. "Underlying inflation is running within noise of our target, and that's a good indication of where overall...
Following the final October meeting (October 28–29, 2025), the FOMC calendar still lists December 9–10, 2025. This means the Fed could technically still act once more this year. Market and economist expectations, according to surveys and money market prices, still position a high probability of a cut in December in addition to October. Several major economists also still project two cuts before the end of the year. Powell hinted that monetary policy tightening could end within a few months. This is a looser tone and is compatible with further policy easing if accompanied by supportive...
The Fed will meet on October 28-29, 2025. This meeting is crucial because the market still considers the possibility of an interest rate cut, but its direction will be heavily influenced by the September CPI (US inflation) release, which was rescheduled to Friday, October 24 due to the shutdown. Therefore, the Fed is really waiting for the data before making a decision. In his last speech (October 14), Fed Chairman Jerome Powell said the US economy was "stronger than expected," but the job market was weakening. This means the Fed remains cautious and will determine policy on a...
According to a poll by Reuters, 115 of 117 economists have predicted that the Federal Reserve (Fed) will reduce interest rates by 25 basis points (bps) to 3.75%-4.00% in the monetary policy announcement on October 29. For the entire year, the United States (US) Fed will cut its Funds Rate twice more this year, say 83 of 117 economists, 32 say once. The bigger risk to the Fed rate policy by the end of this cycle is that it would set rates too low, say 25 of 33 economists. Despite intensified speculation among economists that the Fed will reduce interest rates in its two upcoming policy...
The Federal Reserve will go into a policy meeting next week with its view of the economy obscured by a U.S. government shutdown that has suspended the release of key data, a less-than-ideal situation for policymakers divided over which risks deserve the most attention. Official employment data hasn't been released since the shutdown of the federal government began on October 1, but what information that remains available points to still-weak job growth. The Fed's own economic field reporting, still underway at the self-funded central bank, showed possible cracks in consumer spending, and...
Federal Reserve Governor Christopher Waller said on Thursday he favors another interest rate cut at the U.S. central bank's policy meeting later this month because of worrisome labor market developments, while a colleague again made the case for an even more aggressive path of cuts. "Based on all of the data we have on the labor market, I believe that the (Fed's policy committee) should reduce the policy rate another 25 basis points" at the end of October, Waller said in a speech given to a Council on Foreign Relations gathering in New York. What comes after that meeting, Waller said,...
Bank of Japan (BOJ) Governor Kazuo Ueda stated that achieving 2% inflation is getting closer, although real inflation remains low. Ueda emphasized that the BOJ will continue to raise interest rates...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...