Tag: Interest Rates

2024-10-06

Job creation roared higher as payrolls surged by 254,000

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The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday. Nonfarm payrolls surged by 254,000 for the month, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate fell to 4.1%, down…

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2024-10-01

Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’

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Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller. The central bank chief asserted during a speech in Nashville, Tennessee, that he and his colleagues will seek to balance bringing…

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2024-09-28

The Fed slashed interest rates last week, but Treasury yields are rising. What’s going on?

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Construction work is done around the Federal Reserve building on September 17, 2024 in Washington, DC.  Anna Moneymaker | Getty Images News | Getty Images With its larger-than-normal cut last week, the Federal Reserve sent a clear message that interest rates are heading considerably lower in the future. The Treasury market, though, hasn’t been paying attention. Despite the Fed…

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2024-09-22

Biden Fed Jay Powell meeting Oval Office

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Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. Saul Loeb | AFP | Getty Images President Joe Biden on Thursday said he had “never once spoken” to Federal Reserve Chair Jerome Powell while he was president. But the pair, joined by Treasury Secretary Janet Yellen, met…

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2024-09-20

The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means

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Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the Fed took the unusual…

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2024-08-26

‘The time has come for policy to adjust’

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Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. “The time has come for policy to adjust,” the central bank leader said in his much-awaited keynote address at the Fed’s annual retreat in Jackson Hole, Wyoming. “The direction of travel is clear, and…

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2024-08-06

San Francisco Fed President Daly sees interest rate cuts coming as labor market weakens

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Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024.  Graeme Sloan | Bloomberg | Getty Images San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year…

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2024-08-01

Fed holds rates steady and notes progress on inflation

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WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to its target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit with progress. They…

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