First modification:
Markets reacted cautiously after the publication of the details of the latest meeting of the Federal Reserve, where the majority of the directors were in favor of accelerating interest rates at a faster pace than in 2015.
Inflation puts pressure. The minutes of the last meeting of the organism show that the Fed is willing to raise interest rates faster, generating a more aggressive monetary policy than investors expect.
Four years later, the macroeconomic outlook in 2022 is “much better” than in 2015, with a stronger labor market, while inflation is “substantially higher.”
“Consequently, most participants suggested that a faster pace of interest rate increases than in the post-2015 period would be warranted,” the document said.
James Bullard, president of the Federal Reserve Bank of St. Louis, reiterated his call for the Federal Reserve to take the aggressive step of raising its short-term benchmark interest rate. For her part, Esther George, president of the Kansas City Fed, opted for a more “gradual” approach, while Mary Daly, of the San Francisco Fed, opted for a modest increase in interest rates next month.
“Inflation is very high,” said Thomas Barkin, director of the Richmond Fed, in an interview on SiriusXM, adding that “more recent readings suggest that it is broader and more persistent. I think it’s time to get going and get back to pre-pandemic levels.”
These comments come after the January inflation data presented last week placed the year-on-year figure at 7.5%, the fastest increase in four decades. Prices rose 0.6% from December to January, putting more pressure on the Fed to raise interest rates.
Several economists forecast as many as six or seven quarter-point hikes. Interest rates remain in a range between 0% and 0.25%, although the Fed has indicated its intention for a hike probably in March.
Fed Chairman Jerome Powell has yet to comment publicly, while employment and inflation data show strong growth in hiring and wages. Powell hopes to be confirmed by the Senate for a second four-year term.
With AP and EFE
First modification:
Markets reacted cautiously after the publication of the details of the latest meeting of the Federal Reserve, where the majority of the directors were in favor of accelerating interest rates at a faster pace than in 2015.
Inflation puts pressure. The minutes of the last meeting of the organism show that the Fed is willing to raise interest rates faster, generating a more aggressive monetary policy than investors expect.
Four years later, the macroeconomic outlook in 2022 is “much better” than in 2015, with a stronger labor market, while inflation is “substantially higher.”
“Consequently, most participants suggested that a faster pace of interest rate increases than in the post-2015 period would be warranted,” the document said.
James Bullard, president of the Federal Reserve Bank of St. Louis, reiterated his call for the Federal Reserve to take the aggressive step of raising its short-term benchmark interest rate. For her part, Esther George, president of the Kansas City Fed, opted for a more “gradual” approach, while Mary Daly, of the San Francisco Fed, opted for a modest increase in interest rates next month.
“Inflation is very high,” said Thomas Barkin, director of the Richmond Fed, in an interview on SiriusXM, adding that “more recent readings suggest that it is broader and more persistent. I think it’s time to get going and get back to pre-pandemic levels.”
These comments come after the January inflation data presented last week placed the year-on-year figure at 7.5%, the fastest increase in four decades. Prices rose 0.6% from December to January, putting more pressure on the Fed to raise interest rates.
Several economists forecast as many as six or seven quarter-point hikes. Interest rates remain in a range between 0% and 0.25%, although the Fed has indicated its intention for a hike probably in March.
Fed Chairman Jerome Powell has yet to comment publicly, while employment and inflation data show strong growth in hiring and wages. Powell hopes to be confirmed by the Senate for a second four-year term.
With AP and EFE
First modification:
Markets reacted cautiously after the publication of the details of the latest meeting of the Federal Reserve, where the majority of the directors were in favor of accelerating interest rates at a faster pace than in 2015.
Inflation puts pressure. The minutes of the last meeting of the organism show that the Fed is willing to raise interest rates faster, generating a more aggressive monetary policy than investors expect.
Four years later, the macroeconomic outlook in 2022 is “much better” than in 2015, with a stronger labor market, while inflation is “substantially higher.”
“Consequently, most participants suggested that a faster pace of interest rate increases than in the post-2015 period would be warranted,” the document said.
James Bullard, president of the Federal Reserve Bank of St. Louis, reiterated his call for the Federal Reserve to take the aggressive step of raising its short-term benchmark interest rate. For her part, Esther George, president of the Kansas City Fed, opted for a more “gradual” approach, while Mary Daly, of the San Francisco Fed, opted for a modest increase in interest rates next month.
“Inflation is very high,” said Thomas Barkin, director of the Richmond Fed, in an interview on SiriusXM, adding that “more recent readings suggest that it is broader and more persistent. I think it’s time to get going and get back to pre-pandemic levels.”
These comments come after the January inflation data presented last week placed the year-on-year figure at 7.5%, the fastest increase in four decades. Prices rose 0.6% from December to January, putting more pressure on the Fed to raise interest rates.
Several economists forecast as many as six or seven quarter-point hikes. Interest rates remain in a range between 0% and 0.25%, although the Fed has indicated its intention for a hike probably in March.
Fed Chairman Jerome Powell has yet to comment publicly, while employment and inflation data show strong growth in hiring and wages. Powell hopes to be confirmed by the Senate for a second four-year term.
With AP and EFE
First modification:
Markets reacted cautiously after the publication of the details of the latest meeting of the Federal Reserve, where the majority of the directors were in favor of accelerating interest rates at a faster pace than in 2015.
Inflation puts pressure. The minutes of the last meeting of the organism show that the Fed is willing to raise interest rates faster, generating a more aggressive monetary policy than investors expect.
Four years later, the macroeconomic outlook in 2022 is “much better” than in 2015, with a stronger labor market, while inflation is “substantially higher.”
“Consequently, most participants suggested that a faster pace of interest rate increases than in the post-2015 period would be warranted,” the document said.
James Bullard, president of the Federal Reserve Bank of St. Louis, reiterated his call for the Federal Reserve to take the aggressive step of raising its short-term benchmark interest rate. For her part, Esther George, president of the Kansas City Fed, opted for a more “gradual” approach, while Mary Daly, of the San Francisco Fed, opted for a modest increase in interest rates next month.
“Inflation is very high,” said Thomas Barkin, director of the Richmond Fed, in an interview on SiriusXM, adding that “more recent readings suggest that it is broader and more persistent. I think it’s time to get going and get back to pre-pandemic levels.”
These comments come after the January inflation data presented last week placed the year-on-year figure at 7.5%, the fastest increase in four decades. Prices rose 0.6% from December to January, putting more pressure on the Fed to raise interest rates.
Several economists forecast as many as six or seven quarter-point hikes. Interest rates remain in a range between 0% and 0.25%, although the Fed has indicated its intention for a hike probably in March.
Fed Chairman Jerome Powell has yet to comment publicly, while employment and inflation data show strong growth in hiring and wages. Powell hopes to be confirmed by the Senate for a second four-year term.
With AP and EFE