By PATRICK LAVERY Saying “the risks to achieving our employment and inflation goals continue to move into better balance,” Federal Reserve Chairman Jerome Powell on Wednesday touted the fall of inflation from a post-pandemic high of 7% to its current 2.5% but held firm on the Fed’s key interest rate, which the Federal Open Market…
By PATRICK LAVERY The July 21 decision by President Joe Biden to stand down from a re-election bid, clearing a runway for Vice President Kamala Harris to face former President Donald Trump in November, reinvigorated the 2024 presidential race and brought renewed emphasis to one debate in particular: whether it was Trump, in the final…
By PATRICK LAVERY For the seventh straight meeting, dating back to last September 20, the Federal Open Market Committee on Wednesday voted to maintain the target range for its federal funds rate at 5.25% to 5.5%. That officially means, as experts and prediction tools had almost unanimously agreed going into the week, that the earliest…
By PATRICK LAVERY Merriam-Webster says the phrase “kick the can down the road,” derived from an old children’s game, first entered the American political lexicon in the mid-1980s, about 40 years ago. It may have seemed like 40 years, but it will be just one, come July – at least – since the Federal Reserve Board will…
By PATRICK LAVERY Predicted by both the experts and projection tools alike, the Federal Open Market Committee on Wednesday decided to maintain its target range for the federal funds rate at 5.25% to 5.5%, the sixth consecutive meeting at which the key rate has gone unchanged following a year and a half’s worth of increases….
By PATRICK LAVERY After a swift acceleration of more than five percentage points in about a year and a half, starting in early 2022, could the Federal Reserve Board keep its policy interest rate in a holding pattern for close to a year? That appears likely, as with no change since last summer, most experts…
By PATRICK LAVERY Kicking the can down the road, moving the goalposts – whatever idiom you want to use – such an expression will likely be appropriate for this week’s meeting of the Federal Open Market Committee, which appears poised to hold the target range for the federal funds rate steady at 5.25% to 5.5%….
By PATRICK LAVERY Saying the economy has surprised even the experts since the start of the COVID-19 pandemic nearly four years ago, Federal Reserve Board Chairman Jerome Powell on Wednesday announced that the Fed would hold its ground for now and keep its policy interest rate unchanged at its current range of 5.25% to 5.5%….
By PATRICK LAVERY Seven weeks ago, the 2023 slate of policy meetings for the Federal Open Market Committee concluded with members voting to leave the key interest rate unchanged for a third straight time. However, anyone hoping that 2024 will begin with some movement in a downward direction is likely to be disappointed this week….
By PATRICK LAVERY Saying he and the Federal Open Market Committee were “proceeding carefully,” Federal Reserve Board Chairman Jerome Powell announced that they voted unanimously Wednesday to leave its policy interest rate unchanged for a third straight meeting. This ensures that after more than a year of incremental hikes that eventually saw the key rate…
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