Fed’s Collins not seeing overwhelming progress (on inflation), more work to be done

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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…

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• Fed’s Mester says new inflation data affirms the case for more Fed rate hikes and it is going to take more tightening for the Fed to get inflation back to 2%; view on inflation and economy has not been changed by the latest data, according to Reuters

• Fed’s Kashkari (voter, hawkish) says we have very high inflation, but it’s not being driven by wages; have to bring down inflation Once Fed gets inflation down, can get back to pre-COVID economy with low inflation, low unemployment, and decent wage growth.

• Fed’s Collins (non-voter) says likely need to hike rates more with more work needed to be done on inflation; Fed’s SEP of one more hike seems reasonable

• Fed Chair Powell repeats that rate cuts are not in the Fed’s base case

• Fed may need to raise rates to 6.5% !@!!!#

  Federal Reserve officials may need to raise interest rates as high as 6.5% to defeat inflation, according…

• fed chair powell says if incoming data indicates faster tightening is required, fed is prepared to increase pace of rate hikes

• Fed’s Barkin (non-voter) says high inflation means Fed still has work to do, labour market has been unbelievably resilient

• Fed Chair Powell says Fed has not made any decision yet about the March meeting, Fed is data dependent, will be guided by incoming data; repeats terminal rate will likely be higher than previously expected