Category: Interest Rate
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ECB policy statement comparison
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FEDS LEAVES RATES UNCHANGED
STATEMENT COMPARISON source FED & NEWSWIRES
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FOMC PREVIEW
The FOMC is expected to leave rates unchanged at 5.00-5.25%. The accompanying ‘Dot Plot’ will go a long way in addressing the unchanged decision as a ‘pause’ or a ‘skip’, where the absence of an increase to the 2023 median rate dot will struggle to see the ‘skip’ nomenclature hold ground, reflecting diminishing power amongst […]
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Fed’s Collins not seeing overwhelming progress (on inflation), more work to be done
Fed’s Collins (non-voter) says on Bloomberg TV that PCE data was about what the Fed expected; not seeing overwhelming progress, more work to be done; inflation is too high Is highly data dependent.Need to have financial conditions that are sufficiently tight and then hold."Early days" on deciding if Fed has gone as far as it […]
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Fed’s Bullard (non voter) says the US response to bank stress “swift and appropriate” and has allowed monetary policy to focus on inflation
Inflation remains too high. US macro data is stronger than expected. Continued appropriate macroprudential policy can contain financial stress, while appropriate monetary policy can continue to put downward pressure on inflation Inflation expectations are relatively low and a good sign for disinflation in 2023 It is not uncommon for some firms to fail to adjust […]
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ECB’s Knot said ECB is unlikely to be done with rate hikes, thinks we need a hike in May but the size is uncertain
Core inflation shows no sign of abating, wages and services are its main drivers. Inflation risks are clearly tilted to the upside, second round wage effects are increasingly visible. Turbulence must have a significant permanent impact to alter the inflation baseline. Could gradually move to a full stop in APP reinvestments if there is no […]
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Fed Statement comparison
Fed
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Double Digit Fed Funds?
It is all about interest rates. Commodity prices, equity prices, real estate prices, volatility, and asset prices in general are all tied to a relatively obscure decision made by a group of men just praying that they can bring the economy to a soft landing. Is it possible? Of course, it is possible. Is it […]
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Fed’s Bostic (2024 voter, neutral) maintains view Fed policy rate needs to rise to 5.00-5.25% range, policy rate will need to remain at that level well into 2024
Fed’s Bostic (2024 voter, neutral) maintains view Fed policy rate needs to rise to 5.00-5.25% range, policy rate will need to remain at that level well into 2024 Will need monetary policy to have a greater dampening effect on demand and slower wage growth before concluding inflation is moving steadily lower. Economy has the momentum […]