Category: Headlines
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Fed’s Logan (voter, hawk) says speed of transactions has highlighted need to manage liquidity risks; every bank should be ready to borrow from the Fed
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US Treasury asks US agencies if payments can be made at a later date as deadline nears; internal memo shows Treasury putting agencies on alert, according to Washington Post
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Republican Debt Ceiling Negotiator Graves says republicans and the White House are still far apart on a debt ceiling deal after Monday night talks
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Fed’s Kashkari (voter) says need to get more data about the economy; possible mild recession would bring inflation down If inflation stays high, may need to keep rates higher.
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US House Speaker McCarthy says we don’t have a deal; decisions have to start being made
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Fed’s Bostic (non-voter) says he is comfortable waiting a little bit to see how the economy plays out after Fed has done a lot of tightening already, policy acts with a lag Will take decisions on a meeting-by-meeting basis.
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Fed’s Kashkari (voter) says not seeing evidence yet that banking stress is doing our work for us on inflation
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GOP debt negotiators say White House is not being reasonable and GOP negotiators leave debt talks
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Fed Chair Powell says policy rate may not have to rise as far as otherwise due to tightened bank credit conditions
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Fed Chair Powell says inflation is far above Fed objective; high inflation poses significant hardship; Fed strongly committed to returning to 2% goal, failure would strongly cause greater harm