Cleveland Fed President Loretta Mester said Wednesday that she will be advocating for a 75 basis point hike to interest rates in July if conditions stay the same.
The"dot plot" of individual FOMC members expectations places the Fed's benchmark rate at 3.4% by the end of the year, from its current target range of 1.5%-1.75%.
Mester suggested that consumers' experience of inflation, which hit 8.6% at the headline level in May, was"clouding" their confidence in the economy. "Job one for us now is to get inflation rates under control, and I think right now that's coloring how consumers are feeling about the economy and where it's going."
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fed’s Mester: I would advocate for 75 bps rate hike in July“Right now I would advocate for a 75 bps rate hike,” Cleveland Federal Reserve (Fed) Bank President Loretta Mester said on Wednesday while noting that
Weiterlesen »
NZD/USD scales above 0.6300 as focus shifts to Fed PowellThe NZD/USD pair has witnessed some bids around 0.6292 and has moved above the round-level resistance of 0.6300 in the Asian session. On a broader not
Weiterlesen »
US: Atlanta Fed GDPNow for Q2 rises to 0.3%According to the Federal Reserve Bank of Atlanta's GDPNow model, the US economy is expected to expand by 0.3% in the second quarter, up from the June
Weiterlesen »
Fed up with Chicago’s expensive housing and parking woes? One TikTok user’s suggestion: Move to Peoria.Angelica Ostaszewski's pride for Peoria is infectious. So much so that her TikTok videos about the city have gone viral. Her wish: For more to move to Peoria!
Weiterlesen »
Fed’s Mester: I would advocate for 75 bps rate hike in July“Right now I would advocate for a 75 bps rate hike,” Cleveland Federal Reserve (Fed) Bank President Loretta Mester said on Wednesday while noting that
Weiterlesen »