Bank borrowing from the Fed climbs for 6th week in a row
The amount of money banks borrowed from the Federal Reserve rose for the sixth week in a row and topped $100 billion for the first time in two months.
The latest from The Fed column
The amount of money banks borrowed from the Federal Reserve rose for the sixth week in a row and topped $100 billion for the first time in two months.
Financial markets think the Fed is going to skip an interst rate hike at its June meeting and focus its attention on July, but some economists think the central bank will hike rates next week anyway.
Recently retired Kansas City Fed President Esther George said the U.S. is likely to "have higher inflation and higher interest rates for some time."
"I think we get back to where we used to be, which was making a change every other meeting," Philadelphia Fed President Patrick Harker said in an interview Wednesday.
Inflation increased at a slower pace in May, a Federal Reserve survey found, but the economy expanded again and suggested price pressures are unlikely to ease.
Philadelphia Federal Reserve President Patrick Harker said Wednesday that he thinks the Fed should skip an interest rate increase at the June meeting.
The chief of The Richmond Federal Reserve said high inflation probably won't dissipate quickly barring a sharper slowdown in the U.S. economy.
Financial markets are increasingly pricing in expectation of a June interest-rate hike by the Federal Reserve, and if the central bank doesn't want to go through with one, time is running out to push back.
Banks increased lending last week and deposits rose for the first time in a month, showing little evidence of an emerging credit crunch in the U.S. banking system.
The amount of money U.S. banks borrowed from the Federal Reserve barely changed last week, but it was still close to $100 billion and pointed to linger stress in the financial system.
Boston Fed President Collins said signs of waning inflation suggest the central bank may be "at, or near, the point" where it can stop raising interest rates.
Several Fed officials at the May meeting said that further interest rate hikes may not be needed, minutes of the meeting released Wednesday showed.
Federal Reserve Gov. Chris Waller is undecided on whether to support another increase in U.S. interest rates in June, but he won't back a "pause," either.
What is the script the Federal Reserve will follow if the debt ceiling is breached? Here are some educated guesses.
San Francisco Fed President Mary Daly said Monday it was important for the Fed to keep an open mind when it meets in mid-June.
St. Louis Fed President James Bullard on Monday said he would like to see two more 25-basis-point rate hikes this year.
Minneapolis Fed President Neel Kashkari says he's open to pausing rate hikes at the Fed's next meeting in order to buy time to assess the inflation outlook and the effects of more than a year of rate increases.
Fed Chairman Jerome Powell said Friday that economic data so far confirms the central bank's view that future progress on bringing down inflation will be slow.
New York Fed President John Williams on Friday said there is no evidence that the era of very low natural rates of interest has ended.
The financial market thinks the Fed will come to the rescue and cut rates if there is a recession, but many economists say this view is misguided.