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...
Federal Reserve Governor Christopher Waller said on Thursday he's on board with another interest rate cut at the U.S. central bank's policy meeting later this month because of the mixed readings on the state of the job market. "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 our meeting that concludes October 29," Waller said in the text of a speech to be delivered before a gathering of the Council on Foreign Relations in New York. What comes after that meeting, Waller said, depends...
Fed Chairman Jerome Powell hinted that the central bank may stop shrinking its balance sheet in the coming months. The Fed chairman also indicated that the labor market outlook continues to deteriorate, a message that supports investor expectations for another interest rate cut this month. "Our long-held plan is to stop shrinking the balance sheet when foreign exchange reserves are slightly above a level we judge to be consistent with adequate foreign exchange reserve conditions," Powell said Tuesday in prepared remarks for an event with the National Association for Business Economics in...
Federal Reserve Chair Jerome Powell on Tuesday delivers his last scheduled remarks before the Fed's next meeting with the economy enjoying stronger-than-expected growth and a recent jump in productivity, but still adjusting to tariff and immigration policies that economists worry could lead to both higher inflation and higher unemployment. Challenging for a central bank responsible for keeping inflation low and employment as high as possible, Powell and his colleagues are also facing a drought of official data amid a U.S. government shutdown that has delayed the September jobs report and...
Global financial markets are moving cautiously following growing concerns about the United States' fiscal policy, which is considered too expansionary. The surge in the budget deficit and rising US government bond yields have led market participants to assess the risks of debt financing as increasing. Investors are beginning to weigh whether this fiscal pressure will limit the Fed's room to cut interest rates more aggressively next year. The US dollar remains strong, while gold prices tend to strengthen slightly due to increased demand for safe-haven assets amid policy uncertainty....
The latest minutes from the Federal Reserve's September meeting suggest policymakers are leaning toward further rate cuts this year. While most officials backed the quarter-point reduction, the discussion reflected growing concern about labour market risks and a more balanced inflation outlook. The tone overall was cautious but pointed to a continued easing bias. Most participants judged it would likely be appropriate to ease policy further over the remainder of 2025. Some participants noted financial conditions suggested policy may not be particularly restrictive. Those participants...
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...