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Federal Reserve: Difference between revisions
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== Fed Commentaries == | == Fed Commentaries == | ||
* March 7,2023 Powell testimony with Congress: Federal Reserve Chair Jerome Powell said interest rates are likely to be higher than anticipated. <ref>https://www.cnbc.com/2023/03/07/fed-chair-powell-says-interest-rates-are-likely-to-be-higher-than-previously-anticipated.html?__source=androidappshare</ref> | |||
* March 1, 2023: Minneapolis Federal Reserve Bank President Neel Kashkari said that he is open-minded to either 25 basis points or 50 basis points interest rate hikes in the next FOMC meeting. "To me, much more important than whether it’s 25 or 50 is what we signal in what’s called the dot plot." Kashkari added that the impact of rate hikes on the service sector has not been noticed. “We’re not yet seeing much of a sign of our interest-rate increases slowing down the services sector of the economy and that is concerning to me,” He said<ref>https://www.bloomberg.com/news/articles/2023-03-01/fed-s-kashkari-open-minded-on-quarter-or-half-point-march-hike</ref>. Kashkari is a voter at 2023 FOMC and one of its biggest hawks<ref><nowiki>https://edition.cnn.com/2023/01/30/economy/fed-fomc-2023-makeup/index.html#:~:text=This%20year%20the%20Federal%20Open,president%20of%20the%20Minneapolis%20Fed</nowiki>. </ref>. | * March 1, 2023: Minneapolis Federal Reserve Bank President Neel Kashkari said that he is open-minded to either 25 basis points or 50 basis points interest rate hikes in the next FOMC meeting. "To me, much more important than whether it’s 25 or 50 is what we signal in what’s called the dot plot." Kashkari added that the impact of rate hikes on the service sector has not been noticed. “We’re not yet seeing much of a sign of our interest-rate increases slowing down the services sector of the economy and that is concerning to me,” He said<ref>https://www.bloomberg.com/news/articles/2023-03-01/fed-s-kashkari-open-minded-on-quarter-or-half-point-march-hike</ref>. Kashkari is a voter at 2023 FOMC and one of its biggest hawks<ref><nowiki>https://edition.cnn.com/2023/01/30/economy/fed-fomc-2023-makeup/index.html#:~:text=This%20year%20the%20Federal%20Open,president%20of%20the%20Minneapolis%20Fed</nowiki>. </ref>. | ||
Additional notes: | Additional notes: | ||
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- Over the longer term, 4% wage increases are unsustainable due to lower productivity. | - Over the longer term, 4% wage increases are unsustainable due to lower productivity. | ||
==Meetings== | ==Meetings== | ||
[[Federal Reserve Economic Projections]] | [[Federal Reserve Economic Projections]] | ||