Warlord Posted October 4, 2023 Share Posted October 4, 2023 Interest rates will likely need to be higher to eliminate inflation from the U.S. economy, says Federal Reserve Gov. Michelle Bowman. Speaking at a business conference in Alberta, Canada, on Oct. 2, the central bank official argued that policymakers would need to pull the trigger on additional rate hikes to tackle price pressures, particularly as the recent spike in energy prices threatens the institution's gains over the past year. "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Ms. Bowman said. Since March 2022, the Fed has raised the benchmark fed funds rate by 500 basis points to a target range of 5.25 percent and 5.5 percent, the highest level in 22 years. While the consumer price index has eased since hitting a peak of 9.1 percent in June 2022, the country has witnessed a reacceleration in inflation. https://www.theepochtimes.com/article/additional-rate-hikes-needed-to-defeat-inflation-feds-bowman-warns-5502847?ea_src=frontpage&ea_med=top-news-us-0-large-1 Quote Link to comment Share on other sites More sharing options...
dpg50000 Posted October 4, 2023 Share Posted October 4, 2023 Could you imagine Bailey, or anyone at the BOE, ever coming out with a clear statement like this? Yes, I know it's a case of watch what they do, not what they say, but still.... "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Ms. Bowman said. Quote Link to comment Share on other sites More sharing options...
andrewwk Posted October 4, 2023 Share Posted October 4, 2023 48 minutes ago, dpg50000 said: Could you imagine Bailey, or anyone at the BOE, ever coming out with a clear statement like this? Yes, I know it's a case of watch what they do, not what they say, but still.... "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Ms. Bowman said. no, and that's why the pound is going bye bye. Quote Link to comment Share on other sites More sharing options...
Warlord Posted October 4, 2023 Author Share Posted October 4, 2023 Bump for the morning crew! Quote Link to comment Share on other sites More sharing options...
Warlord Posted October 4, 2023 Author Share Posted October 4, 2023 1 hour ago, dpg50000 said: Could you imagine Bailey, or anyone at the BOE, ever coming out with a clear statement like this? Yes, I know it's a case of watch what they do, not what they say, but still.... "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Ms. Bowman said. The Fed tell Bailey what to do. Quote Link to comment Share on other sites More sharing options...
Warlord Posted October 4, 2023 Author Share Posted October 4, 2023 Music to @Huggy's ears? Quote Link to comment Share on other sites More sharing options...
fellow Posted October 4, 2023 Share Posted October 4, 2023 (edited) US Treasury yields rocketing. Edited October 4, 2023 by fellow Quote Link to comment Share on other sites More sharing options...
Stewy Posted October 4, 2023 Share Posted October 4, 2023 10 minutes ago, fellow said: US Treasury yields rocketing. It's to do with the Speaker ousting, nothing more. Quote Link to comment Share on other sites More sharing options...
Warlord Posted October 4, 2023 Author Share Posted October 4, 2023 13 minutes ago, Stewy said: It's to do with the Speaker ousting, nothing more. More to do with these comments although the speaker thing doesn't help Quote Link to comment Share on other sites More sharing options...
Timm Posted October 4, 2023 Share Posted October 4, 2023 7 hours ago, Warlord said: Interest rates will likely need to be higher to eliminate inflation from the U.S. economy, says Federal Reserve Gov. Michelle Bowman. Speaking at a business conference in Alberta, Canada, on Oct. 2, the central bank official argued that policymakers would need to pull the trigger on additional rate hikes to tackle price pressures, particularly as the recent spike in energy prices threatens the institution's gains over the past year. "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Ms. Bowman said. Since March 2022, the Fed has raised the benchmark fed funds rate by 500 basis points to a target range of 5.25 percent and 5.5 percent, the highest level in 22 years. While the consumer price index has eased since hitting a peak of 9.1 percent in June 2022, the country has witnessed a reacceleration in inflation. https://www.theepochtimes.com/article/additional-rate-hikes-needed-to-defeat-inflation-feds-bowman-warns-5502847?ea_src=frontpage&ea_med=top-news-us-0-large-1 Well, that spooked the horses! Quote Link to comment Share on other sites More sharing options...
Huggy Posted October 4, 2023 Share Posted October 4, 2023 1 hour ago, Warlord said: Music to @Huggy's ears? It certainly is dear chap as it's all about the Fed, always has been. Andrew 'Sorry not sorry' Bailey is a mere passenger, licking the windows in Jerome's special bus. People made money off the back of the Fed's near zero IR policy, they thought they were special feckers. Let's see what kind of 'special' they are over the next year or two (or five/ten). I want to hear screaming Quote Link to comment Share on other sites More sharing options...
Dames Posted October 4, 2023 Share Posted October 4, 2023 Just now, Huggy said: Andrew 'Sorry not sorry' Bailey is a mere passenger, licking the windows in Jerome's special bus. 😂😂😂 Quote Link to comment Share on other sites More sharing options...
PrincessNutNut Posted October 4, 2023 Share Posted October 4, 2023 2 hours ago, Stewy said: It's to do with the Speaker ousting, nothing more. Actually, it's to do with the deficit spending going back into overdrive. Because that guy just lost his job to kick the can for a paltry 45 days at the cost of another trillion or so. Quote Link to comment Share on other sites More sharing options...
fellow Posted October 4, 2023 Share Posted October 4, 2023 3 hours ago, Stewy said: It's to do with the Speaker ousting, nothing more. That doesn't change the fact yields are higher.and the markets are pricing in higher rates for longer. Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 4, 2023 Share Posted October 4, 2023 5 hours ago, dpg50000 said: Could you imagine Bailey, or anyone at the BOE, ever coming out with a clear statement like this? Yes, I know it's a case of watch what they do, not what they say, but still.... "Inflation continues to be too high, and I expect it will likely be appropriate for the Committee to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Ms. Bowman said. Well, Bailey n crwe now have to come out with somethign along the liens of - Well, you know we said No more IR increases ... Well, weve now got to do some more. BoE are a price taker not a price maker in terms of IRs. Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted October 4, 2023 Share Posted October 4, 2023 7 minutes ago, spyguy said: Well, Bailey n crwe now have to come out with somethign along the liens of - Well, you know we said No more IR increases ... Well, weve now got to do some more. BoE are a price taker not a price maker in terms of IRs. Bailey is currently in the process of writing his next speech, although he'll probably only need to spend 2 minutes on it given it'll just be a rehash of his previous "Expect a marked fall in UK inflation" BS. And then.... GBP 🔻 Quote Link to comment Share on other sites More sharing options...
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