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Fed Officials Signal Rate-Hike Openness as Jackson Hole Begins
Fed officials said inflation remains stubborn, with the Personal Consumption Expenditures Price Index at 3.7% in July, as markets weigh another hike.
- At the annual Jackson Hole economic symposium in Wyoming, multiple Federal Reserve officials warned yesterday that inflation remains elevated, signaling openness to potential rate hikes before year's end.
- The Personal Consumption Expenditures Price Index stood at 3.7% in the 12 months through July, down from 4.1% in May but reflecting inflation that has run above the Fed's 2% target for over five years.
- Cleveland Fed President Beth Hammack declared "now is the time to act," while Kansas City Fed President Jeffrey Schmid called inflation "stubborn and sticky," and Chicago Fed President Austan Goolsbee described conditions as "disturbing."
- Futures markets currently lean against a rate increase at the Sept meeting, though investors await clarity from Fed Chairman Kevin Warsh, who is scheduled to speak tomorrow at Jackson Hole.
- Expectations for clear forward guidance remain tempered, as Warsh has historically refrained from explaining monetary policy decisions, even as officials fear the public may begin accepting higher prices as normal.
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12 Articles
12 Articles
The market rules out an increase in rates at the Federal Reserve meeting in September
·Madrid, Spain
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(New York = Yonhap News) Correspondent Lim Soo-jung = On the first day of the Jackson Hole meeting on the 27th (local time), U.S. Federal Reserve officials [addressed] the persistent inflation...
·Seoul, Korea (the Republic of)
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Fed officials warn about inflation as Jackson Hole starts
Two Federal Reserve officials today shared their ongoing concerns about the US inflation outlook, as central bankers gathered in Jackson Hole, Wyoming for the Kansas City Fed's closely watched annual economic symposium.
·Ireland
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Total News Sources12
Leaning Left1Leaning Right2Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
11%
C 67%
R 22%
Factuality
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