Most policymakers agreed the Fed could start shrinking its emergency asset purchases later this year. Most of the details, however, are still in flux.
The S&P 500 and the Dow broke a 5-day run of record highs on Tuesday, with COVID-sensitive assets such as airline among the biggest underperformers.
Home prices surged in May at the fastest rate in 30 years. Minutes from the Fed's June meeting show the central bank talking about cooling the market.
The Fed previously indicated rates would stay near zero through 2023. The estimates suggest officials may want to slow inflation earlier than expected.
Officials said in April that if the recovery stays strong, it might be time to consider tapering its asset purchases, meeting minutes showed.
Inflation strengthened in recent weeks, the central bank said, but the uptick is consistent with the "transitory" rise long anticipated by Fed officials.
FOMC minutes showed it will "likely be some time" until the Fed tightens its policy stance and Biden's stimulus "considerably larger" than expected.
The US economic recovery is "highly uncertain" and it's premature for the Fed to tighten, Jerome Powell said. It's "not yet" even time to consider it.
Federal Reserve Chairman Jerome Powell reiterated Thursday that the central bank is far from tapering its asset purchases or raising interest rates. “Now is not the time to be talking about an exit” from easy monetary policy, the central bank chief said in a virtual discussion. The comments come after […]
US equities wavered on Wednesday as investors mulled the Federal Reserve’s policy update, disappointing economic data, and progress toward passing new stimulus. Congressional leaders are close to agreeing on a stimulus package that includes just under $US900 billion in relief funds, Politico reported. A deal could be finalised as early […]
Federal Reserve policymakers expect the US to stage a full recovery in 2021, according to projections published Wednesday. The Federal Open Market Committee’s median estimate for 2020 growth landed at -2.4%. The median expectation for 4.2% growth in 2021 fully offsets the pandemic-induced slump. Committee members expect the unemployment rate […]
Federal Reserve officials are set to meet on Tuesday and Wednesday, and could offer new insight into when the central bank will pare back on its monetary policy support. The Fed’s asset-purchase program has aided market functioning and stifled interest rates for months. Yet its eventual unwinding could shock markets, […]
The Federal Reserve will extend the maturity of its $US80-billion-per-month purchase of Treasurys in December to further support the US economy, Michael Feroli, chief US economist at JPMorgan, said Monday. The central bank has kept its policy stance the same for months, but surging COVID-19 cases threaten to derail the […]
US stocks gained on Monday, as investors looked to rebound from the market’s worst week since March. Equities are set to face heightened volatility as election uncertainty reaches a fever pitch. While former Vice President Joe Biden enjoys a strong lead in the polls, President Donald Trump has indicated he […]
Minutes from the Federal Open Market Committee’s September 15-16 meeting show Federal Reserve officials raising concerns that a lack of new fiscal support could hinder the US economic recovery. FOMC participants “assumed the enactment of some additional policy support this year,” according to the minutes. Without such support, “the pace […]
Federal Reserve Bank of Dallas President Robert Kaplan raised concerns on Monday that the central bank’s more detailed forward guidance will encourage risk-taking in markets. The Federal Open Market Committee indicated last week it won’t lift rates from their near-zero range until maximum employment and average inflation of 2% are […]
US stocks climbed on Wednesday as investors prepared for updated outlooks and policy commentary from the Federal Reserve. Fed Chair Jerome Powell is set to speak following the conclusion of the Federal Open Market Committee’s two-day meeting. The meeting is the first to take place since the central bank updated […]