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In a statement Wednesday following a two-day meeting in Washington, the Federal Open Market Committee repeated that it “is highly attentive to inflation risks.” The central bank also reiterated it “anticipates that ongoing increases in the target range will be appropriate,” and “is strongly committed to returning inflation to its 2% objective.”
— Fortune (September 21) (Pocket) (Media Bias)
The average 30-year fixed-mortgage rate was 6.10% as of Sept. 13, according to Bankrate.com, and it has been rising steadily, up to 6.43% on Tuesday, according to the mortgage rate comparison service, after the Fed's most recent decision last week to raise its benchmark interest rates by another three-quarters of a percentage point — the third-time in a row it has raised rates by that amount.
— CNBC (September 28) (Pocket) (Media Bias)
The history of inflation, and of how policymakers and pundits responded to it, reveals plenty of motivated reasoning. For decades, people have argued that inflation is not so bad, that it happens because of greed, or that the best solution is price controls. I’d assumed that we had become wiser, but here we are today, with core inflation (excluding volatile food and energy costs) at 6.3 percent, unemployment at 3.7 percent, and the inflation-adjusted federal-funds rate still negative. Yet many observers think that it’s a mistake to raise interest rates any further, and some even believe that monetary policy should be looser.
— City Journal (September 28) (Pocket) (Media Bias)
WASHINGTON (AP) — The Federal Reserve will have to keep boosting its benchmark interest rate to a point that raises unemployment and gets inflation down from unusually high levels, two officials said in separate remarks Monday.
— Boston Herald (September 26) (Pocket) (Media Bias)
New Stimulus Check Coming?At the height of the global Covid-19 pandemic, the United States government sought to help struggling Americans by issuing fiscal stimulus. Now many experts have voiced concerns that the relief efforts contributed to an increase in inflation of about 2.5 percentage points. The Fed has raised interest rates to help bring down […] The post Stimulus Check 2022 Update: Would Joe Biden Back a 4th Payment?
— 1945 (September 24) (Pocket) (Media Bias)
SNB Ends NIRP With 75bps Hike; Here's What Traders Expect From BOE, Norges And CBRT Update: The Norges Bank hiked by 50bps to 2.25% as expected. The central bank said that the rate will most likely be raised further in November. * * * As Bloomberg's Ven Ram writes, "just a couple of years ago, anyone who was bearish on Treasuries would have been laughed out of the room. But suddenly the mood is deadly serious as the Fed marches us toward a brave new world with a benchmark interest rate approaching, ahem, 5%." On Wednesday, Powell stuck to the script as expected, with the result that we’re likely to see front-end Treasury yields push higher and ...
— ZeroHedge Opinion (September 22) (Pocket) (Media Bias)
Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed's drive to curb inflation by aggressively raising interest rates, he said, would "bring some pain" for Americans.
— Washington Times (September 21) (Pocket) (Media Bias)
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