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Fed's Powell: No one has rate hikes as base case
POWELL: WE THINK POLICY IS RESTRICTIVE AND ULTIMATELY, EVENTUALLY YOU WILL SEE WEAKENING IN ECONOMY
— DB News TradFi (@DBNewswire) June 12, 2024
POWELL: NO ONE HAS RATE HIKES AS BASE CASE
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POWELL: BANKING SYSTEM HAS BEEN SOLID, STRONG, WELL-CAPITALIZED
— DB News TradFi (@DBNewswire) June 12, 2024
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MORE FED'S POWELL Q&A: ULTIMATELY EXPECT RATES WILL HAVE TO COME DOWN, NOT UP, AND CURRENT POLICY SEEMS TO BE MOVING TOWARD THAT #Powell #FOMC #FederalReserve
— Mace News (@MaceNewsMacro) June 12, 2024
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POWELL: THERE’S BEEN A SURPRISING INCREASE IN IMPORT PRICES ON GOODS
— DB News TradFi (@DBNewswire) June 12, 2024
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POWELL: WAGES ARE STILL RUNNING ABOVE A SUSTAINABLE PATH
— DB News TradFi (@DBNewswire) June 12, 2024
POWELL: OVERALL THOUGH INFLATIONARY PRESSURES HAVE COME DOWN
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- From @DBNewswire|Jun 12, 2024
post: POWELL: WE HAD A PAUSE IN PROGRESS IN INFLATION IN FIRST QUARTER, TAKEAWAY WAS THAT IT WILL TAKE LONGER TO GET TO RATE CUTS post: POWELL: RATE CUTS HAVE MOVE LATER BECAUSE OF SLOWER PROGRESS ON INFLATION POWELL: TODAY WAS A BETTER INFLATION REPORT THAN ALMOST ANYONE EXPECTED post: POWELL: PEOPLE ARE COMING TO THE VIEW THAT RATES ARE LESS LIKELY TO GO DOWN TO PRE-PANDEMIC LEVELS post: POWELL: IMPROVEMENT IN INFLATION HAS BEEN COMING FROM UNWINDING OF PANDEMIC DISTORTIONS, COMPLEMENTED BY MONPOL POWELL: INFLATION’S ALSO IMPROVING BECAUSE OF POSITIVE SUPPLY SHOCK POWELL: THESE INFLATION DYNAMICS CAN CONTINUE post: POWELL: WE DON’T KNOW IF WE’RE DOWN TO DEMAND DETERMINING INFLATION
- From @DBNewswire|Jun 12, 2024
post: FED’S POWELL: WE DON’T SEE OURSELVES AS HAVING THE CONFIDENCE THAT WOULD WARRANT POLICY LOOSENING AT THIS TIME post: Fed's Powell: FOMC Participants Were Allowed To Update Their SEPs To Incorporate CPI Data Today If They Wanted $DXY $USDJPY #FOMC post: POWELL: QUITS HAVE BEEN MOVING DOWN, JOB OPENINGS TOO POWELL: WE STILL HAVE LOW UNEMPLOYMENT, BUT HAS SOFTENED A BIT AND THAT’S AN IMPORTANT STATISTIC post: POWELL: ARGUMENT THAT JOB GAINS MAY BE A BIT OVERSTATED, BUT STILL STRONG post: POWELL: I LIKE TO LOOK AT 3 AND 6 MONTH SERIES ON PAYROLLS REPORT GIVEN DIFFERENCES IN ESTABLISHMENT AND HOUSEHOLD SURVEY POWELL: OVERALL PICTURE IS ONE OF STRONG AND GRADUALLY COOLING LABOR MKT POWELL: IT HAS GIVEN US AN AMBIGUOUS RESULT, BUT FACT REMAINS LABOR MKT IS STRONG
- From @FirstSquawk|Jun 12, 2024|2 comments
post: POWELL: WE ARE PRACTICING A SLIGHT ELEMENT OF CONSERVATISM ON OUR INFLATION OUTLOOK post: POWELL: WE DON'T HAVE HIGH CONFIDENCE IN FORECASTS post: *POWELL: IF YOU'RE AT 2.6, 2.7% PCE INFLATION, THAT'S GOOD PLACE https://t.co/rxgMs9e121 post: POWELL: WE NEED FURTHER CONFIDENCE, MORE GOOD INFLATION READINGS BUT WON’T BE SPECIFIC ABOUT HOW MANY TO START RATE CUTS FED’S POWELL: WE WANT TO GAIN FURTHER CONFIDENCE ON RATES, NOT GOING TO SAY HOW MANY MORE MONTHS OF GOOD DATA IS NEEDED post: POWELL: WE WILL BE MONITORING LABOR MKT FOR SIGNS OF WEAKNESS, BUT NOT SEEING THAT RIGHT NOW
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- From @MaceNewsMacro|Jun 12, 2024|1 comment
post: MORE FED'S POWELL Q&A: IN HOUSING, FOUND THERE ARE 'BIT LAGS' IN DATA THAT MAY TAKE 'SEVERAL YEARS' BEFORE IMPROVEMENTS SHOW UP #Powell #FOMC #FederalReserve post: MORE FED'S POWELL Q&A: CREDIT CARD DEFAULTS GOING UP BUT NOT AT HIGH LEVEL; HOUSEHOLD IN PRETTY GOOD SHAPE BUT NOT AS GOOD AS LAST COUPLE YEARS #Powell #FOMC #FederalReserve post: POWELL: IF WE SEE UNEMPLOYMENT MORE THAN WE FORECAST, WE WOULD VIEW THAT AS UNEXPECTED WEAKENING post: Fed’s Powell: For Fed the dollar is “just another financial variable,” the currency has been strong but “we don’t think of it as benefitting or hurting the U.S.”
- From @LiveSquawk|Jun 12, 2024|1 comment
post: BoC’s Macklem: MonPol No Longer Needs To Be As Restrictive As It Has Been - Still Need To Get Inflation Down Further To Our TargetsMacklem: Central banking - Navigating in a new world Good afternoon. It’s always great to be back in Montréal, my hometown. And I could not be more pleased to be here with Joachim Nagel, President of the Deutsche Bundesbank. Thank you for visiting us in Canada. Since I’m on my home turf, let me start us off with a few words about where we find ourselves in economic history. Key lessons from high inflation Canada and Germany have just come through the biggest inflation we’ve experienced in 40 years. And as painful as this has been, it has highlighted some lessons. I will focus on three in the Canadian context. First, we ignore the supply-side of the economy at our peril. As central banks, we tend to focus on the demand side because that’s what we influence with interest rates. But coming out of the pandemic, we learned that it is much easier to restore demand than supply. High inflation was a stark reminder that supply shocks can cumulate and persist—and when they intersect with periods of strong demand, the inflationary consequences can be large. Looking ahead, technological change, geopolitical tensions, climate change, and shifting trade and investment flows all suggest we may experience more supply shocks than we did in the past. Businesses and central banks need to be ready. Second, inflation is painful—that’s not a new lesson, but for many of our citizens it was their first experience with high inflation. And it has been painful. Inflation harms people and the economy, and it corrodes trust in our market-based system. Th
- From cnbc.com|Jun 12, 2024
The Federal Reserve on Wednesday kept its key interest rate unchanged and signaled that just one cut is expected before the end of the year. With markets hoping for a more ...
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- Posted: Jun 12, 2024 2:58pm
- Submitted by:Category: High Impact Breaking NewsComments: 0 / Views: 4,600
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