Fed Holds Rates Steady, Three Officials Dissent Favoring a Hike
- The Federal Reserve held its benchmark interest rate steady at 3.5% to 3.75%, with three regional Fed presidents dissenting in favor of a 25-basis-point hike due to persistent inflation concerns.
- Chairman Kevin Warsh emphasized the Fed's commitment to achieving a 2% inflation target, rejecting any tolerance for persistent elevated inflation despite market uncertainty and external geopolitical pressures.
- Inflation has remained above the Fed's target since early 2021, driven by supply shocks and geopolitical tensions, notably including conflicts impacting energy prices, complicating the Fed's policy decisions.
- Financial markets reacted negatively to the Fed's decision, with rising bond yields and falling equities, reflecting investor concerns over ongoing inflation risks and geopolitical tensions.
448 Articles
448 Articles
The Dutch economy grew by 0.4 percent in the second quarter, more than economists had expected. According to economist Edin Mujagić, this shows how resilient the economy is, especially in an international environment full of uncertainty. At the same time, the financial world was primarily focused on the US central bank (Fed) on Wednesday evening, where new chairman Kevin Warsh delivered a clear message regarding inflation. His words were firm, b…
Bond yields at 19-year high send Warsh credibility warning
The message from the bond market was clear: For all of US Federal Reserve Chairman Kevin Warsh’s tough talk about taming inflation, he’s not rushing fast enough to deliver.After the Fed kept interest rates unchanged for a seventh consecutive month on Wednesday, investors dumped 30-year Treasury bond
Kevin Warsh just pulled back the curtain on America’s economic progress
Federal Reserve Chairman Kevin Warsh pulled back the curtain this week on an economy making more progress than people feel. Gallup’s Economic Confidence Index stood at minus 31 in July, and two-thirds of people said conditions were getting worse. Yet consumers continue to spend, workers are holding on to their jobs, and businesses are investing heavily in the technology and productive capacity that will shape what comes next. People may feel unc…
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