Fed’s Waller needs to see inflation improve before supporting a cut
Higher energy and commodity prices are intensifying headline inflation, which means inflation is headed is not headed in the right direction.
Economic news
U.S. 30-year yield hits highest since 2007 on inflation angst
The 30-year rate increased six basis points to 5.18% on Tuesday, a level last seen on the brink of the global financial crisis in 2007, rising alongside US government yields across maturities.
Economy added 115,000 jobs in April despite mixed signals
Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
Warsh to confront risks of dissenting in his first Fed vote
Warsh won the race for Fed chair partly through sketching out a road map to rate cuts on the premise that an AI-driven productivity boom would keep inflation low.
Interest rates are the most certain thing about FOMC meeting
The Federal Open Market Committee's April meeting — likely Federal Reserve Chair Jerome Powell's last — is unanimously expected to keep interest rates steady, but questions about energy, inflation and the upcoming transition in leadership still loom.
Traders bet on post-war calm to keep rates in tight range
In testimony Tuesday, Warsh avoided answering questions about the near-term path of interest rates, further supporting the market's wait-and-see stance.
Wells Fargo’s Scharf: Lowering rates is ‘wrong thing to do’
Wells Fargo CEO Charlie Scharf said bankers and economists are broadly against lowering interest rates now, given uncertainty from the Iran war.
Fed’s Miran downplays inflation risks, rethinks rate cuts
Federal Reserve Gov. Stephen Miran Thursday said that the Iran war and tariffs will not have long-term impacts on inflation, but did say he is reconsidering his rate cut outlook for the year.
Gen Z, millennial homeowners struggle with mortgage payments
Half of Gen Z homeowners and 44% of millennial homeowners were at risk of missing at least one mortgage payment over the last two years, ServiceLink found.
US Treasuries fall as inflation data erode Fed rate-cut wager
The setback pared a weekly gain for US government bonds sparked by an April 8 ceasefire agreement, which caused oil prices to tumble from near multiyear highs.
Energy prices drive up inflation by 0.9% in March
A 21.2% spike in the price of gasoline was the biggest contributor to a 0.9% increase in the Consumer Price Index in March, according to a Friday report from the Bureau of Labor Statistics. The agency said other price increases were largely contained.
Bond traders risk being wrongfooted by 2022 playbook, UBS warns
Treasuries and gilts especially reflect unrealistic expectations that inflationary pressures will goad central banks into another 2022-style rate-hiking cycle.
Powell says Fed cautious as Iran war drives inflation risks
Federal Reserve Chair Jerome Powell said the central bank is cautiously monitoring consumer sentiment as tensions from the Iran war push energy prices higher, complicating efforts to bring inflation down to the Fed's target.
Iran war-fed inflation is taking rate cuts off the table
Two former members of the Federal Open Market Committee said in interviews that they expect the Federal Reserve to keep rates steady amid uncertainty over the ongoing war with Iran and the resulting upward pressure on inflation.
Bond market nears ‘inflection point’ after war-related selloff
While the biggest amount of unwinds occurred on March 2, the new positions added since then have broadly signaled short positions, targeting higher Treasury yields.
Fed’s Miran says oil shock unlikely to alter rate outlook yet
Federal Reserve Gov. Stephen Miran said it is too early to judge how U.S. involvement in the war with Iran will affect inflation and monetary policy.
Fed’s Goolsbee says he could see circumstances for rate hike
Since the meeting, investors have rushed to price in higher rates as inflation fears have built in financial markets, though Treasuries rallied Monday after President Donald Trump said he would postpone strikes on Iranian energy infrastructure.
Treasuries slide as elevated oil prices fuel inflation fears
The Fed, European Central Bank and the Bank of England all held rates this week as policymakers grapple with the uncertain outlook for inflation and growth arising from the conflict in the Middle East.
Fed Chair Powell to stay on until DOJ concludes probe
Federal Reserve Chair Jerome Powell, in a post-FOMC meeting Wednesday, said he intends to stay at his post until a successor has been confirmed, adding that he will remain on the Fed board until a Justice Department investigation into him is concluded.
Iran scrambles inflation signals as Fed mulls interest rates
The Federal Open Market Committee is widely expected to keep interest rates steady when it concludes its regular meeting tomorrow, but rising uncertainty about inflation in the wake of the Iran war is clouding the monetary policy outlook.
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