Fed Chair Powell: ‘The law is clear,’ Trump can’t fire me

Federal Reserve Chairman Jerome Powell said in an interview aired Sunday that he does not think he can be fired by President Donald Trump. While continuing to avoid direct comment on the president’s withering criticism of central bank interest rate policy, Powell told CBS’ “60 Minutes” that Trump can’t remove him from office. “The law is clear that I have a four-year term, and I fully intend to serve it,” Powell told the news magazine show. The Fed under Powell unanimously approved four rate hik


Federal Reserve Chairman Jerome Powell said in an interview aired Sunday that he does not think he can be fired by President Donald Trump. While continuing to avoid direct comment on the president’s withering criticism of central bank interest rate policy, Powell told CBS’ “60 Minutes” that Trump can’t remove him from office. “The law is clear that I have a four-year term, and I fully intend to serve it,” Powell told the news magazine show. The Fed under Powell unanimously approved four rate hik
Fed Chair Powell: ‘The law is clear,’ Trump can’t fire me Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: jeff cox
Keywords: news, cnbc, companies, hikes, cant, term, law, chair, powell, clear, policy, rate, fed, presidents, told, yellen, trump


Fed Chair Powell: 'The law is clear,' Trump can't fire me

Federal Reserve Chairman Jerome Powell said in an interview aired Sunday that he does not think he can be fired by President Donald Trump.

While continuing to avoid direct comment on the president’s withering criticism of central bank interest rate policy, Powell told CBS’ “60 Minutes” that Trump can’t remove him from office.

“The law is clear that I have a four-year term, and I fully intend to serve it,” Powell told the news magazine show. Asked directly if he thought Trump could fire him, he said, “no.”

A series of interest rate hikes in 2018 drew the president’s wrath, even though he nominated Powell to the Fed position after choosing not to put up former Chair Janet Yellen for a second term. The Fed under Powell unanimously approved four rate hikes in 2018, continuing a move toward policy normalization that Yellen began in December 2015. Trump has said the rate hikes are the biggest threat to U.S. growth.

During that period, the U.S. saw its best economic gains in a recovery that began in mid-2009. GDP rose nearly 3 percent for the year, though most economists see that cooling off in the years ahead.

In that regard, Powell reiterated the Fed’s recently stated position that it can be patient when it comes to the future path of the policy as it watches the incoming data. Friday’s nonfarms payrolls report indicated a gain of just 20,000, helping to ratify concerns that the first quarter will show little, if any, economic growth.

Powell said that the Fed, while likely on hold for a while, will be making its policy decisions based on the data and not on political considerations.

“We are directed to execute policy in a strictly nonpolitical way, serving all Americans, and that’s what we do,” he said. “We are independent in that sense.”

Powell told “60 Minutes” anchor Scott Pelley that he thinks the economy is still strong, though he acknowledged that weakness around the world could start to hit the U.S.

“I would say there’s no reason why this economy cannot continue to expand,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: jeff cox
Keywords: news, cnbc, companies, hikes, cant, term, law, chair, powell, clear, policy, rate, fed, presidents, told, yellen, trump


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Fed’s Williams says new economic outlook necessary for rate hikes

“I don’t think that it would take a big change, but it would be a different outlook either for growth or inflation” to return to hiking rates, Williams, one three Fed vice chairs and a key voice on rate policy, told Reuters. The Fed could also keep levels of bank reserves on its books that are far closer to current levels than previously thought, Williams said. Williams estimated the so-called balance sheet rolloff could end when bank reserves get to “maybe $1 trillion of reserves or somewhat mo


“I don’t think that it would take a big change, but it would be a different outlook either for growth or inflation” to return to hiking rates, Williams, one three Fed vice chairs and a key voice on rate policy, told Reuters. The Fed could also keep levels of bank reserves on its books that are far closer to current levels than previously thought, Williams said. Williams estimated the so-called balance sheet rolloff could end when bank reserves get to “maybe $1 trillion of reserves or somewhat mo
Fed’s Williams says new economic outlook necessary for rate hikes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, reserves, feds, end, growth, hikes, rates, fed, outlook, meeting, bank, rate, economic, policymakers, policy, williams, necessary


Fed's Williams says new economic outlook necessary for rate hikes

New York Fed President John Williams on Tuesday said he was comfortable with the level U.S. interest rates are at now, and sees no need to raise them again unless growth or inflation shift to an unexpectedly higher gear.

In an interview with Reuters, Williams said he felt rates had reached his current view of a lower “neutral” level, with growth and unemployment leveling off and inflation, if anything, a bit weaker than hoped for.

Asked if it would take some sort of shock to resume rate increases, he said it would require one or more of those factors to surprise to the upside.

“I don’t think that it would take a big change, but it would be a different outlook either for growth or inflation” to return to hiking rates, Williams, one three Fed vice chairs and a key voice on rate policy, told Reuters.

Williams’ comments, made just weeks after the central bank paused its once quarterly rate hikes, underscore just how high the bar would be for tighter monetary policy, and suggest that such a move may not come any time soon.

The Fed could also keep levels of bank reserves on its books that are far closer to current levels than previously thought, Williams said.

Along with its rate-hike holiday, policymakers are currently finalizing plans on how they would end the reduction of their balance sheet, which includes holdings of bank reserves bulked up in part by the Fed’s need for cash to buy bonds to halt the global financial crisis a decade ago.

Williams estimated the so-called balance sheet rolloff could end when bank reserves get to “maybe $1 trillion of reserves or somewhat more than that,” about $600 billion less than current levels.

The figure is “a guess today of the amount of reserves that will be held in the system in the future – but again we are learning and will get a finer touch on that,” he said.

Williams, who is vice chairman of the rate-setting Federal Open Market Committee and votes whenever that group meets, said policymakers are “in a very good place” on policy, with rates around neutral, the U.S. economy in a strong place and pressures on prices subdued.

“Monetary policy is where it should be,” he said. “It’s around my view of what neutral interest rates are.”

After its most recent meeting, Fed policymakers signaled their three-year drive to tighten monetary policy may be at an end due to a suddenly cloudy outlook for the U.S. economy, a global growth slowdown and impasses over trade and government budget negotiations.

The Fed increased interest rates three times in 2017 and four times last year, pushing them up to 2.25 percent to 2.5 percent at its final 2018 meeting in December.

Further details on that policy meeting at the end of January are expected when the Fed releases records from its deliberations on Wednesday. In recent days Cleveland Federal Reserve President Loretta Mester and Fed Governor Lael Brainard both said they supported ending the U.S. central bank’s unwinding of its bond holdings this year. The Fed’s balance sheet ballooned to over $4 trillion in the wake of the 2007-09 recession but policymakers began trimming its bond holdings in the final months of 2017. Further details on that policy meeting at the end of January are expected when the Fed releases records from its deliberations on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: seongjoon cho, bloomberg, getty images
Keywords: news, cnbc, companies, reserves, feds, end, growth, hikes, rates, fed, outlook, meeting, bank, rate, economic, policymakers, policy, williams, necessary


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Emerging markets set for a ‘rally’ after last year’s rout, says strategist

With the U.S. Federal Reserve pledging to be “patient” in future rate hikes, emerging markets should do better this year, and may in fact even have “a decent rally,” one strategist told CNBC on Monday. Last year, economic troubles in Argentina and Turkey, as well as the Fed tightening monetary policy, had caused a selloff in several emerging market currencies. Some emerging market stock indexes also saw steep declines. But those markets should turn around this year, said Mary Nicola, a G-10 fore


With the U.S. Federal Reserve pledging to be “patient” in future rate hikes, emerging markets should do better this year, and may in fact even have “a decent rally,” one strategist told CNBC on Monday. Last year, economic troubles in Argentina and Turkey, as well as the Fed tightening monetary policy, had caused a selloff in several emerging market currencies. Some emerging market stock indexes also saw steep declines. But those markets should turn around this year, said Mary Nicola, a G-10 fore
Emerging markets set for a ‘rally’ after last year’s rout, says strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: weizhen tan, -mary nicola, asian fixed income strategist at eastspring invest
Keywords: news, cnbc, companies, rout, market, rally, set, hikes, markets, saw, patient, emerging, strategist, told, em, fed


Emerging markets set for a 'rally' after last year's rout, says strategist

With the U.S. Federal Reserve pledging to be “patient” in future rate hikes, emerging markets should do better this year, and may in fact even have “a decent rally,” one strategist told CNBC on Monday.

Last year, economic troubles in Argentina and Turkey, as well as the Fed tightening monetary policy, had caused a selloff in several emerging market currencies. Some emerging market stock indexes also saw steep declines. Rising interest rates stateside make it harder for emerging economies to service their U.S-dollar debt.

But those markets should turn around this year, said Mary Nicola, a G-10 foreign exchange and Asian fixed income strategist at Eastspring Investments.

“Now that the Fed is going to be patient, we think that EM has a bit to go. If you look at what we saw last year in terms of emerging markets, the EM rout had much to do with the fact that the Fed was hiking,” she told CNBC’s “Squawk Box” on Monday. “Now that the Fed hikes are off the table for a little bit, and the Fed can afford to be patient, EM funding conditions won’t be as tight as it was before.”


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: weizhen tan, -mary nicola, asian fixed income strategist at eastspring invest
Keywords: news, cnbc, companies, rout, market, rally, set, hikes, markets, saw, patient, emerging, strategist, told, em, fed


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The Fed is still in its ‘hiking mode’: Societe Generale

The Fed is still in its ‘hiking mode’: Societe Generale12 Hours AgoToby Lawson of Societe Generale says he still expects two interest rate hikes from the Federal Reserve in 2019, though he now sees the hikes happening in the second half of the year.


The Fed is still in its ‘hiking mode’: Societe Generale12 Hours AgoToby Lawson of Societe Generale says he still expects two interest rate hikes from the Federal Reserve in 2019, though he now sees the hikes happening in the second half of the year.
The Fed is still in its ‘hiking mode’: Societe Generale Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-06
Keywords: news, cnbc, companies, mode, generale, interest, sees, reserve, fed, hours, societe, lawson, hiking, second, hikes, rate


The Fed is still in its 'hiking mode': Societe Generale

The Fed is still in its ‘hiking mode’: Societe Generale

12 Hours Ago

Toby Lawson of Societe Generale says he still expects two interest rate hikes from the Federal Reserve in 2019, though he now sees the hikes happening in the second half of the year.


Company: cnbc, Activity: cnbc, Date: 2019-02-06
Keywords: news, cnbc, companies, mode, generale, interest, sees, reserve, fed, hours, societe, lawson, hiking, second, hikes, rate


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Fed’s James Bullard says he’s pleased with rates at these levels and it’s time to ‘wait and see’

St. Louis Federal Reserve President James Bullard told CNBC on Friday that interest rates are at a good level to “set us up for a good couple of years.” Bullard, a voting member on the central bank’s policymaking Federal Open Market Committee this year, said he’s pleased with the Fed’s “patient” stance. “The level of rates is very good where it is today,” he said in an interview. I don’t think we’re in that game anymore,” said Bullard, who’s been calling for the Fed to pause for a while. Fed Cha


St. Louis Federal Reserve President James Bullard told CNBC on Friday that interest rates are at a good level to “set us up for a good couple of years.” Bullard, a voting member on the central bank’s policymaking Federal Open Market Committee this year, said he’s pleased with the Fed’s “patient” stance. “The level of rates is very good where it is today,” he said in an interview. I don’t think we’re in that game anymore,” said Bullard, who’s been calling for the Fed to pause for a while. Fed Cha
Fed’s James Bullard says he’s pleased with rates at these levels and it’s time to ‘wait and see’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matthew j belvedere
Keywords: news, cnbc, companies, wait, think, james, patient, levels, bullard, fed, economy, hes, powell, good, trump, rates, hikes, feds, pleased


Fed's James Bullard says he's pleased with rates at these levels and it's time to 'wait and see'

St. Louis Federal Reserve President James Bullard told CNBC on Friday that interest rates are at a good level to “set us up for a good couple of years.”

Bullard, a voting member on the central bank’s policymaking Federal Open Market Committee this year, said he’s pleased with the Fed’s “patient” stance. “The level of rates is very good where it is today,” he said in an interview.

“I would like to think we’re out of the business of penciling in further increases that have to be made. I don’t think we’re in that game anymore,” said Bullard, who’s been calling for the Fed to pause for a while. “Now it’s time to wait and see how the economy develops.”

The Fed on Wednesday cemented its “patient” approach on rate hikes after its post-meeting decision to hold rates steady in a range between 2.25 percent and 2.5 percent. Fed Chairman Jerome Powell started to push that “patient” narrative on Jan. 4 after four rate hikes last year. The latest increase was in December, when the Fed had projected two more hikes in 2019.

Bullard, who appeared on “Squawk Box” after the government on Friday morning reported much stronger-than-expected January jobs gains, recognized the strength. But he said, at this point in the cycle, “looking at low unemployment and jobs growth is maybe a backward-looking signal.”

“Obviously, we will react to data as it comes in. If the economy performs better than expect or worst than expected going forward, we’re willing to move in either direction,” Bullard said. “But there wouldn’t be any presumption now anymore that we’re going to move in one direction or the other.”

That should please President Donald Trump who has been a vocal critic of the Fed’s policies under Powell, arguing the central bank’s path higher on rates could hurt the economy. As recently as December, Trump discussed firing Powell because of widespread losses in the stock market.

Wall Street plunged in the final three months of 2018 after Powell in October touched off concerns about an aggressive rate-hike policy. He later walked back that notion. But uncertainty persisted, and the S&P 500 actually dipped in a bear market, down 20 percent or more from recent highs on Christmas Eve, which marked the lowest close for the index in 2018.

However, since then, the S&P 500 has bounced 15 percent as of Thursday’s close, which was the last day of January. For last month, the index gained nearly 8 percent, the best monthly performance since October 2015.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: matthew j belvedere
Keywords: news, cnbc, companies, wait, think, james, patient, levels, bullard, fed, economy, hes, powell, good, trump, rates, hikes, feds, pleased


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Exxon Mobil posts big quarterly profit beat as oil major hikes production

Exxon Mobil on Friday posted quarterly earnings that easily beat expectations and showed a small increase in fossil fuel production, reversing a trend of declining output. The stock price for the world’s largest publicly traded oil and gas company was up more than 3 percent at nearly $76 a share. Exxon earned a quarterly profit of $6 billion including the impacts of U.S. tax changes, down 28 percent from a year ago. Excluding tax impacts, the company earned $6.41 billion for the quarter, marking


Exxon Mobil on Friday posted quarterly earnings that easily beat expectations and showed a small increase in fossil fuel production, reversing a trend of declining output. The stock price for the world’s largest publicly traded oil and gas company was up more than 3 percent at nearly $76 a share. Exxon earned a quarterly profit of $6 billion including the impacts of U.S. tax changes, down 28 percent from a year ago. Excluding tax impacts, the company earned $6.41 billion for the quarter, marking
Exxon Mobil posts big quarterly profit beat as oil major hikes production Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: tom dichristopher, katie kramer, michael newberg
Keywords: news, cnbc, companies, tax, quarter, posts, production, big, mobil, gas, oil, quarterly, billion, share, increase, profit, impacts, hikes, major, exxon


Exxon Mobil posts big quarterly profit beat as oil major hikes production

Exxon Mobil on Friday posted quarterly earnings that easily beat expectations and showed a small increase in fossil fuel production, reversing a trend of declining output.

The stock price for the world’s largest publicly traded oil and gas company was up more than 3 percent at nearly $76 a share. Shares earlier jumped by about 4 percent.

Exxon earned a quarterly profit of $6 billion including the impacts of U.S. tax changes, down 28 percent from a year ago. That pencils out to earnings per share of $1.41, beating Refinitiv forecasts for $1.08 per share.

Excluding tax impacts, the company earned $6.41 billion for the quarter, marking a 72 percent increase from the same period a year ago.

Revenue came in at $71.89 billion, well below expectations for $77.28 billion from Refinitiv.

Exxon grew its total production of oil, natural gas and other hydrocarbons slightly, hitting 4 million barrels of oil equivalent in the quarter.


Company: cnbc, Activity: cnbc, Date: 2019-02-01  Authors: tom dichristopher, katie kramer, michael newberg
Keywords: news, cnbc, companies, tax, quarter, posts, production, big, mobil, gas, oil, quarterly, billion, share, increase, profit, impacts, hikes, major, exxon


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US stock futures point to mixed open after Fed signals patience with rate hikes

U.S. stock index futures pointed to a mixed start to trading on Thursday after the Federal Reserve kept interest rates unchanged. ET, Dow Jones Industrial Average futures implied a drop of about 30 points at the open. Futures for the S&P 500 and Nasdaq 100 pointed to a slightly higher open. Those gains put the S&P 500 on track to post its best January performance since 1989. When the week is over, more than 100 S&P 500 companies will have reported earnings.


U.S. stock index futures pointed to a mixed start to trading on Thursday after the Federal Reserve kept interest rates unchanged. ET, Dow Jones Industrial Average futures implied a drop of about 30 points at the open. Futures for the S&P 500 and Nasdaq 100 pointed to a slightly higher open. Those gains put the S&P 500 on track to post its best January performance since 1989. When the week is over, more than 100 S&P 500 companies will have reported earnings.
US stock futures point to mixed open after Fed signals patience with rate hikes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, statement, sp, hikes, mixed, data, 500, stock, sheet, futures, point, signals, rate, week, rates, open, index, patience, fed


US stock futures point to mixed open after Fed signals patience with rate hikes

U.S. stock index futures pointed to a mixed start to trading on Thursday after the Federal Reserve kept interest rates unchanged.

At 7:05 a.m. ET, Dow Jones Industrial Average futures implied a drop of about 30 points at the open. Futures for the S&P 500 and Nasdaq 100 pointed to a slightly higher open.

On Wednesday, the Fed said it will be “patient” with raising rates moving forward. In a statement, the central bank said: “The Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate.” The statement also dropped the word “gradual.”

The Fed addressed the balance sheet, which had been a concern for investors, in a separate statement. The Fed said it “is prepared to adjust any of the details for completing balance sheet normalization in light of economic and financial developments.”

Stocks shot up on the back of the statement, with the major indexes rising at least 1.55 percent on Wednesday. Those gains put the S&P 500 on track to post its best January performance since 1989. The broad index is up nearly 7 percent this month.

The central bank’s statement came in the middle of the busiest week of the earnings season. When the week is over, more than 100 S&P 500 companies will have reported earnings.

On Thursday, General Electric posted weaker-than-expected earnings but its shares surged 7 percent on strong revenue. Amazon and Yum China are among the companies scheduled to report after the bell Thursday.

Investors also monitored weak China data. On Thursday, China’s official data showed that manufacturing activity in January contracted for the second consecutive month.

Back in the U.S., weekly jobless claims and an employment cost index are due at 8:30 a.m. ET, Chicago PMI data are due at 9:45 a.m., and new home sales data are expected at 10 a.m.


Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: fred imbert, spriha srivastava
Keywords: news, cnbc, companies, statement, sp, hikes, mixed, data, 500, stock, sheet, futures, point, signals, rate, week, rates, open, index, patience, fed


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The Fed is on hold for now, but some in the market are still bracing for more hikes

The Fed won’t raise rates for at least the next six months, says expert 20 Hours Ago | 04:23Should economic barometers hold up and some of the world’s geopolitical problems get solved in a timely manner, the Fed could change its tune before 2019 is over. “Given the right underpinning, I think he’d like to raise rates at least once or twice if there’s an opportunity to do that,” said Quincy Krosby, chief market strategist at Prudential Financial. “Then he’d need a global backdrop that is solid an


The Fed won’t raise rates for at least the next six months, says expert 20 Hours Ago | 04:23Should economic barometers hold up and some of the world’s geopolitical problems get solved in a timely manner, the Fed could change its tune before 2019 is over. “Given the right underpinning, I think he’d like to raise rates at least once or twice if there’s an opportunity to do that,” said Quincy Krosby, chief market strategist at Prudential Financial. “Then he’d need a global backdrop that is solid an
The Fed is on hold for now, but some in the market are still bracing for more hikes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: jeff cox
Keywords: news, cnbc, companies, bracing, rates, economy, financial, solid, raise, global, market, remain, need, fed, hed, hikes, hold


The Fed is on hold for now, but some in the market are still bracing for more hikes

The Fed won’t raise rates for at least the next six months, says expert 20 Hours Ago | 04:23

Should economic barometers hold up and some of the world’s geopolitical problems get solved in a timely manner, the Fed could change its tune before 2019 is over.

“Given the right underpinning, I think he’d like to raise rates at least once or twice if there’s an opportunity to do that,” said Quincy Krosby, chief market strategist at Prudential Financial. “Then he’d need a global backdrop that is solid and a U.S. economy that is on solid footing. We have that now, but there still remain concerns that the economy is going to slow. That tug-of-war has not eased.”

Indeed, Powell gave no indication how long the pause would last or whether his fellow officials have changed their minds from the two hikes they had indicated in their year-end forecasts in December.

He said he still sees the U.S. economy in solid condition, but pointed out global concerns like Brexit, the Chinese economy and financial conditions that have “tightened considerably,” even though most gauges show they remain loose.

“”I would want to see a need for further rate increases,” he said at a news conference following the Federal Open Market Committee meeting.


Company: cnbc, Activity: cnbc, Date: 2019-01-31  Authors: jeff cox
Keywords: news, cnbc, companies, bracing, rates, economy, financial, solid, raise, global, market, remain, need, fed, hed, hikes, hold


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Fed’s Bullard takes stand against more interest rate hikes

St. Louis Fed President James Bullard thinks interest rates have gone high enough and could endanger an otherwise strong economy if they rise more. “We’ve got a good level of the policy rate today,” he added. Bullard was not a voting member on the Federal Open Market Committee during its rate-hiking campaign last year. He takes a voting position this year and has indicated that with inflation contained and financial markets concerned about more rate increases, it’s time for the Fed to pause. How


St. Louis Fed President James Bullard thinks interest rates have gone high enough and could endanger an otherwise strong economy if they rise more. “We’ve got a good level of the policy rate today,” he added. Bullard was not a voting member on the Federal Open Market Committee during its rate-hiking campaign last year. He takes a voting position this year and has indicated that with inflation contained and financial markets concerned about more rate increases, it’s time for the Fed to pause. How
Fed’s Bullard takes stand against more interest rate hikes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jeff cox, olivia michael
Keywords: news, cnbc, companies, rates, possibly, fed, interest, stand, rate, policy, markets, voting, bullard, takes, strong, hikes, feds, open


Fed's Bullard takes stand against more interest rate hikes

St. Louis Fed President James Bullard thinks interest rates have gone high enough and could endanger an otherwise strong economy if they rise more.

Coming off a year in which the Fed hiked rates four times, Bullard told The Wall Street Journal an in interview Tuesday that further policy tightening could jeopardize an otherwise strong economy.

The central bank is “bordering on going too far and possibly tipping the economy into recession,” he said.

“We’ve got a good level of the policy rate today,” he added.

Bullard was not a voting member on the Federal Open Market Committee during its rate-hiking campaign last year. He takes a voting position this year and has indicated that with inflation contained and financial markets concerned about more rate increases, it’s time for the Fed to pause.

At the December meeting, FOMC officials indicated two more increases could be coming this year to the benchmark funds rate target, which currently sits between 2.25 percent and 2.5 percent. However, markets are pricing in no hikes this year and possibly a rate cut in 2020, which Bullard said he would be open to if conditions deteriorate.

Bullard estimated that “the committee is coming to my view on this, but we’ll have to see how things play out going forward.”

Read the full Journal report here.


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jeff cox, olivia michael
Keywords: news, cnbc, companies, rates, possibly, fed, interest, stand, rate, policy, markets, voting, bullard, takes, strong, hikes, feds, open


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Fed ‘can afford to be patient’ about future rate hikes, FOMC minutes show

Officials cut their expected moves this year from four to two, citing a range of concerns about growth and volatility in the financial markets. “Concerns over escalating trade tensions, global growth prospects, and the sustainability of corporate earnings growth were among the factors that appeared to contribute to a significant drop in U.S. equity prices,” the minutes said. The misgivings about future policy came before recent public statements from Fed officials echoing a softening course. Fed


Officials cut their expected moves this year from four to two, citing a range of concerns about growth and volatility in the financial markets. “Concerns over escalating trade tensions, global growth prospects, and the sustainability of corporate earnings growth were among the factors that appeared to contribute to a significant drop in U.S. equity prices,” the minutes said. The misgivings about future policy came before recent public statements from Fed officials echoing a softening course. Fed
Fed ‘can afford to be patient’ about future rate hikes, FOMC minutes show Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jeff cox, jim watson, afp, getty images
Keywords: news, cnbc, companies, growth, volatility, financial, trade, range, global, future, afford, patient, fed, officials, policy, fomc, hikes, minutes, rate


Fed 'can afford to be patient' about future rate hikes, FOMC minutes show

The Fed hiked its benchmark rate a quarter point to a range of 2.25 percent to 2.5 percent, the fourth increase in the year and the ninth since policy normalization began in December 2015.

“With an increase in the target range at this meeting, the federal funds rate would be at or close to the lower end of the range of estimates of the longer-run neutral interest rate, and participants expressed that recent developments, including the volatility in financial markets and the increased concerns about global growth, made the appropriate extent and timing of future policy firming less clear than earlier,” the meeting summary stated.

The indecision was reflected in rate forecasts among individual members. Officials cut their expected moves this year from four to two, citing a range of concerns about growth and volatility in the financial markets.

“Concerns over escalating trade tensions, global growth prospects, and the sustainability of corporate earnings growth were among the factors that appeared to contribute to a significant drop in U.S. equity prices,” the minutes said.

The misgivings about future policy came before recent public statements from Fed officials echoing a softening course.

Fed Chairman Jerome Powell, in remarks on Friday while seated next to his predecessors Janet Yellen and Ben Bernanke, said policymakers will be “patient” when approaching policy decisions. As reflected in the minutes, sentiment among Fed officials is that the economy remains strong, but they’re attuned to downside risks that the market perceives.

Among those cited most prominently were “the possibilities of a sharper-than-expected slowdown in global economic growth, a more rapid waning of fiscal stimulus, an escalation in trade tensions, a further tightening of financial conditions, or greater-than-anticipated negative effects from the monetary policy tightening to date.”


Company: cnbc, Activity: cnbc, Date: 2019-01-09  Authors: jeff cox, jim watson, afp, getty images
Keywords: news, cnbc, companies, growth, volatility, financial, trade, range, global, future, afford, patient, fed, officials, policy, fomc, hikes, minutes, rate


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