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“rate-hike slowdown possible in December” The Federal Reserve could scale back the pace of its interest rate hikes “as soon as December,” Fed Chair Jerome Powell said Wednesday, while cautioning the fight against inflation was far from over and that key questions remain unanswered, including how high rates will ultimately need to rise and for how long….
“The US economy is at the mercy of Jerome Powell and Janet Yellen” While Americans struggle to pay their bills amid soaring inflation, the institutions we rely on to wrestle the economy back to stability are engaged in a secret power struggle which only worsens the impending crisis. Federal Reserve Chair Jerome Powell and Treasury…
“Hyperinflation could cause worst economic crisis since WWII, fund warns” The global economy is at risk of crippling hyperinflation and “extraordinary” conditions that could prompt the worst financial crisis since World War II, according to major hedge fund Elliott Management. Elliott Management, led by famed billionaire investor Paul Singer, warned clients that extreme conditions present…
5 key takeaways from the Federal Reserve’s rate hikes The Federal Reserve ramped up its battle against inflation Wednesday with another large interest rate hike amid griping that the central bank’s efforts will plunge the U.S. into a recession. The Fed boosted its baseline interest rate range by 0.75 percentage points for the fourth…
Fed’s latest hike will push up mortgage rates The Federal Reserve’s latest interest rate hike Wednesday of 0.75 percentage points is expected to intensify pressure on the housing market while pushing up mortgage rates that already have reached nearly 20-year highs. The interest hike announced Wednesday is the latest effort by the Fed to slow…
“Inflation hits 8.3% in August as Fed mulls super-size rate hike” US inflation rose by a higher-than-expected 8.3% in August despite falling gasoline prices — adding pressure on the Federal Reserve as it decides whether to impose another super-size interest rate hike. The August reading of the Labor Department’s Consumer Price Index, a closely watched…
“Playing Powell-itics as inflation target in perit” Federal Reserve officials are not mincing words: The central bank and its chair, Jerome Powell, believe the 2% inflation target is sacrosanct and will risk a recession and bear market to get there. So why are markets rallying hard — as if Powell is about to soon cut…
“US faces ‘L-shaped’ recession as Fed scrambles to tame inflation” The US economy will likely have to stay in recession for longer than anticipated in order to bring runaway inflation under control, according to a top analyst. Zoltan Pozsar, the global head of short-term interest rate strategy at Credit Suisse Group AG, wrote a client…
“Larry Summers says the Federal Reserve is wrong about economy” The Federal Reserve “lost its way” last year as inflation gripped American households and still isn’t being realistic about the impact it will have on the economy, ex-Treasury Secretary Larry Summers warned on Friday. Summers, who was far ahead of the Fed in predicting price…
“Arm the Ukrainians now and other commentary” From the right: Arm the Ukrainians Now “Optimists believe that a fully equipped Ukrainian army could halt Russia’s advance and drive its army back to the pre-Feb. 24 line of demarcation,” writes William Galston at The Wall Street Journal. And though “recent Russian successes” are “tempting policy analysts…