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Friday, March 31, 2023

Fed meeting latest news: Central bank raises interest rates for the first time since 2018

Here’s a roundup of recent comments from central bankers:

Speaker Jerome Powell (Voters), March 2 Congress testimony: “I think it would be appropriate to raise our target range for the federal-funds rate at the March meeting in a couple of weeks. I’m inclined to propose and support a 25-basis-point rate hike.”

Governor Michelle Bowman (voter), 21 February speech: “I support raising the federal-funds rate at our next meeting in March and, if the economy develops as I expect, additional rate hikes in the coming months would be justified. Will take a closer look at the data to judge the size.

Governor Christopher Waller (voter), 24 February speech: “The pace of tightening will depend on the data… Should the data break against us in the coming weeks, we need to be prepared for a 50 basis point hike in the policy rate.”

New York Fed President John Williams (voter)February 18 Speeches and comments for journalists: “I hope it would be appropriate to raise the target range at our upcoming meeting in March,” but “I don’t see any compelling rationale for taking a bigger step at the outset.”

Cleveland Fed Chair Loretta Meester (Voters), March 3 CNBC interview transcript: “I think we are on track to remove the housing and start at 25” [basis points] After further growth in the coming months, I think that puts us in a good position. ,

St. Louis Fed President James Bullard (voter), March 2 speechInflation is well above the central bank’s 2% target and “the case is very clear that it calls for a swift rollback of policy adjustments.”

Kansas City Fed Chair Esther George (voters), February 11 WSJ Interview: “What I’m comfortable with saying is going to take a series of rate hikes and see how the economy responds … to get a good gauge on what’s really needed for us “

World Nation News Desk
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