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“#UItra-low interest rates ‘rip off’ middle-class savers: economist” Ultra-low interest rates combined with runaway inflation rip off middle-class savers and retirees, a former top economic advisor to Trump said. “We know that people on pensions and we know that people with deposits at the bank, they’re not getting any return. They are being ripped off,”…
“#It’s not time to hike rates” Federal Reserve Chairman Jerome Powell said on Friday the US central bank should begin reducing its asset purchases soon, but should not yet raise interest rates because employment is still too low and high inflation will likely abate next year as pressures from the COVID-19 pandemic fade. “I do think it’s…
“#Jerome Powell’s ‘taper’ chase may cost him his job” Jerome Powell should be a layup for a second term as Federal Reserve chair, and yet he’s not. The problem stems from Powell’s plans to begin “tapering,” or ending the Fed’s massive printing of money through asset purchases in the bond market. That’s leaving him vulnerable…
“#Fed foresees a potential rate hike as soon as next year” The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it’s concerned that high inflation pressures may persist. In a statement, the Fed also said it will likely…
“#Fed could tighten money policy this year, inflation risks low” Federal Reserve Chairman Jerome Powell said the central bank could begin reversing its easy-money policies as soon as this year — and predicted that inflation, while a concern, is temporary and will subside in the coming months. Speaking at the Kansas City Federal Reserve Bank’s…
“#Federal Reserve chair assures that inflation will pass” Federal Reserve Chairman Jerome Powell on Wednesday stuck to his position that inflation is temporary even as new data stoked concerns among Wall Street bigwigs that higher prices could be here to stay. “Inflation has increased notably and will likely remain elevated in coming months before moderating,”…
“#Inflation fears hit record high in June, warns NY Fed” Americans recently polled by the Federal Reserve Bank of New York said they see inflation rising to 4.8 percent over the next 12 months, a survey record. The Fed’s Consumer Expectations study, which samples a rotating panel of 1,300 households, showed that Americans in June…
“#Feds signal crackdown on cryptocurrency after volatile week” The Federal Reserve and the Treasury Department are turning up the heat on cryptocurrency, signaling a crackdown could be coming after several days of volatility in the sector. Fed chair Jerome Powell said in a rare video message posted Thursday that cryptocurrencies, which have grown to have…
“#Fed holds steady even as it nods to ‘strengthened’ recovery” The Federal Reserve held interest rates and its monthly bond-buying program steady on Wednesday, nodding to the US economy’s growing strength but giving no sign it was ready to reduce its support for the recovery. “Amid progress on vaccinations and strong policy support, indicators of economic activity and…
“#Fed Chair Powell says economy ‘to start growing much more quickly’” The US economy is turning the corner, thanks to government support and a turbo-charged campaign to vaccinate Americans against COVID-19, Federal Reserve Chair Jerome Powell said in a new interview. “What we’re seeing now is really an economy that seems to be at an…