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Austan Goolsbee of the Federal Reserve Bank of Chicago discusses the U.S. economy and monetary policy. The C. Peter McColough Series on International Economics brings the world’s ...
post: FED'S GOOLSBEE: IT IS TOTALLY CLEAR THAT INFLATION IS COMING DOWN. post: *GOOLSBEE: HOUSING STILL BIGGEST PIECE OF INFLATION PUZZLE post: ? GOOLSBEE: UNREALISTIC IF CHINA HAD A RECESSION THAT THERE WOULDN'T A RISK OF RECESSION FOR THE UNITED STATES
post: Fed’s Goolsbee Says Even if Inflation Comes in a Bit Higher Over Next Few Months, Still Consistent with Our Path Back to Target Goolsbee: Rate Cuts Should Be Tied to Confidence in Being on a Path Toward Our Target Rate post: FED’S GOOLSBEE: WORTH ACKNOWLEDGING THAT IF WE STAY THIS RESTRICTIVE FOR TOO LONG, WILL HAVE TO START WORRYING ABOUT EMPLOYMENT SIDE OF FED MANDATE #Goolsbee #FederalReserve post: FED'S GOOLSBEE: I EXPECT IMPROVEMENTS IN HOUSING SERVICES INFLATION TO RESUME. post: FED'S GOOLSBEE: THAT SAID, CPI DATA YESTERDAY WAS PUZZLING, IT IS SOMETHING I AM WATCHING. post: <=USD>:*GOOLSBEE: DON'T SUPPORT WAITING UNTIL INFLATION AT 2% FOR CUT *GOOLSBEE EMPHASIZED FED'S INFLATION GOAL BASED ON PCE, NOT CPI *GOOLSBEE: DON'T BELIEVE LAST MILE OF INFLATION FIGHT HARDEST
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post: BoE’s Bailey: Latest Inflation Data Shows More Downward Pressure Than We Expected BoE’s Bailey: Downward Pressure on Inflation Quite Broad Based BoE’s Bailey: Overall Inflation Data Leaves Us Broadly Where We Expected to Be post: BOE'S BAILEY: WE ARE SEEING SIGNS OF PAY GROWTH COMING DOWN #News #Markets #BAILEY #BOE #live post: BOE GOV. BAILEY: THIS WEEK'S DATA DOES NOT REALLY CHANGE OUR VIEW OF THE FEBRUARY POLICY DECISION. post: BANK OF ENGLAND GOVERNOR ANDREW BAILEY BEFORE LORDS COMMITTEE: UNCHANGED INFLATION READING AT 4.0% IS 'GOOD NEWS' #bankofengland #boe #ukeconomy #andrewbailey #monetarypolicy #interestrates #inflation post: *BOE'S BAILEY: SERVICES INFLATION NOT COMPATIBLE WITH 2PC TARGET *BOE'S BAILEY: MARKET ECONOMY NEGATIVE LAST YEAR, GOVT POSITIVE *BOE'S BAILEY: NEED TO SEE MORE EVIDENCE OF PAY GROWTH EASING
Higher gold prices in the final months of 2023 helped the world’s largest gold producer top fourth-quarter earning estimates. Wednesday, ahead of the North American trading ...
post: FED'S WALLER: FED GUIDANCE MAY HAVE BEEN TOO RESTRICTIVE. post: FED'S WALLER: FORWARD GUIDANCE PERHAPS SHOULD ALSO SIGNAL POSSIBLE PATH OF POLICY RATE.The Federal Reserve’s responses to the post-Covid period of high inflation In the face of the COVID-19 pandemic in March 2020, the Federal Reserve committed to using its full range of tools to support the U.S. economy. Over the next year and a half, with progress on vaccinations and strong policy support, indicators of economic activity and employment strengthened while inflation moved higher. Faced with a tight labor market and elevated inflation, the Federal Open Market Committee (FOMC) began a process of unwinding the very accommodative stance of monetary policy and moving to a restrictive policy stance to address inflation pressures. Here we review the sequence of actions taken by the Committee between late 2020 and mid-2023 as well as discuss some issues it contemplated along the way; the table provides a chronological list of key events over this period. To set the stage, the FOMC was using three tools to conduct policy during the worst of the COVID pandemic: the target range for the federal funds rate, balance sheet policy, and forward guidance.2,3 The target range is the Fed's primary tool, while the other two tools are supplemental. By March of 2020, the target range was at the effective lower bound and the Federal Reserve announced plans to purchase enormous amounts of Treasury securities and agency mortgage-backed securities (MBS) to address severe market dysfunction. By mid-year, purchases were moved to a steady pace of $80 billion per month in Treasury securities and $40 billion per month of agency MBS to provide additional policy accommodation. Forward guidance was used to give the public some understanding of when these policies would be adjusted. As the FOMC planned for the time when the economy had healed enough to start removing accommodation, it knew the importance of clear and early communications. As a result, in September and December 2020, respectively, the FOMC laid out guidance for raising the federal funds rate off the zero lower bound and for tapering asset pur
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- Posted: Feb 14, 2024 10:03am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,967
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