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Keyword: fedrate

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  • Fed Admits Failure of ‘Plan A’ to Control Money Market Rates, Shifts Back to Repos ...

    09/20/2019 11:35:56 PM PDT · by Yosemitest · 119 replies ^ | 20 September 2019 | Wolf Richter
    Fed Admits Failure of ‘Plan A’ to Control Money Market Rates, Shifts Back to Repos (which was ‘Plan A’ till 2008) The hullabaloo in the repo market torpedoed the function of Interest on Excess Reserves and forced the Fed to go back to the future. With its announcement this morning, the New York Fed confirmed that the Fed’s Plan A of manipulating the federal funds rate into its target range – now between 1.75% and 2.0% — has miserably failed, and that it will switch to Plan B to control short-term interest rates. But this Plan B used to...
  • Trump says Fed ‘boneheads’ should cut interest rates to zero ‘or less,’ US should refinance debt

    09/11/2019 7:38:24 AM PDT · by Leaning Right · 42 replies
    CNBC ^ | Sept. 11, 2019 | Jeff Cox, John Melloy
    President Donald Trump on Wednesday continued his verbal assault on the Federal Reserve, which he blames for slowing the economy, tweeting that the central bank should cut interest rates to zero or even set negative interest rates. The president also called Fed officials “boneheads” in the tweet.
  • Beware of Rate-cut Fever

    08/17/2019 7:50:23 AM PDT · by Kaslin · 30 replies
    American ^ | August | William J. Dodwell
    Much has been written about the need for the Federal Reserve to lower interest rates, even beyond the July cut, the first one in eleven years. Indeed, the latest escalation of trade tensions with China and its concomitant currency depreciation might make further cuts more compelling. Or not. The principal purpose of a rate cut is to provide liquidity to foster greater consumption and business investment that stimulate economic growth in the face of sustained opposition forces. But rate cuts without sufficient justification, such as those based on transitory developments, reaction to presidential jawboning, miming other central banks, or inadequate...
  • Bond market fights Fed, interest rates drop sharply in blowout move

    08/01/2019 10:06:41 AM PDT · by Moonman62 · 18 replies
    CNBC ^ | 08/01/19 | Patti Domm
    *** The bond market is taking on the Fed, betting the Fed is mistaken in its view that it does not need to cut rates very much, strategists say. *** The market is betting inflation will be much lower than the Fed expects it will be, and that will force the Fed to keep cutting rates. *** Stunning moves across the Treasury curves sent yields sharply lower, and the benchmark 10-year yield was edging toward a 3-year low, while stocks rose sharply in response. The bond market is bent on having its way and is now pricing in a Fed...
  • As usual, Powell (Federal Reserve) let us down [Trump Tweet]

    07/31/2019 1:54:16 PM PDT · by Moonman62 · 47 replies
    Twitter ^ | 07/31/19 | President Trump
    What the Market wanted to hear from Jay Powell and the Federal Reserve was that this was the beginning of a lengthy and aggressive rate-cutting cycle which would keep pace with China, The European Union and other countries around the world ... As usual, Powell let us down, but at least he is ending quantitative tightening, which shouldn’t have started in the first place - no inflation. We are winning anyway, but I am certainly not getting much help from the Federal Reserve!
  • The Fed cut rates for the first time since 2008

    07/31/2019 12:23:04 PM PDT · by Innovative · 52 replies
    CNN ^ | July 31, 2019 | Donna Borak
    The Federal Reserve on Wednesday lowered interest rates for the first time since the Great Recession in 2008 to help stave off the possibility of an economic downturn. Policymakers led by Fed Chairman Jerome Powell voted 8-2 in favor of a small cut in the federal funds rate, and recommitted to their promise to "act as appropriate" to sustain the country's longest economic expansion in history. Interest rates, which affect the cost of borrowing for credit cards and mortgages, are now set to hover between 2% and 2.25%. The rate cut follows months of pressure from President Donald Trump, who...
  • The US pays MUCH higher interest rates because of a very misguided Federal Reserve. [Trump Tweet]

    07/22/2019 7:01:26 AM PDT · by Moonman62 · 23 replies
    Twitter ^ | 07/22/19 | President Trump
    With almost no inflation, our Country is needlessly being forced to pay a MUCH higher interest rate than other countries only because of a very misguided Federal Reserve. In addition, Quantitative Tightening is continuing, making it harder for our Country to compete. As good as we have done, it could have been soooo much better. Interest rate costs should have been much lower, & GDP & our Country’s wealth accumulation much higher. Such a waste of time & money. Also, very unfair that other countries manipulate their currencies and pump money in! It is far more costly for the Federal...
  • US STOCKS-S&P 500 hits record high as Fed signals rate cuts

    06/20/2019 9:20:29 AM PDT · by SeekAndFind · 8 replies
    Yahoo Finance via Reuters ^ | 06/20/2019 | By Shreyashi Sanyal
    * Fed sees case building for rate cuts this year * Financials fall; Energy up most among S&P sectors * Carnival Corp slides on 2019 profit warning * Indexes up: Dow 0.68%, S&P 0.59%, Nasdaq 0.59% (Updates prices, adds comments) By Shreyashi Sanyal June 20 (Reuters) - The S&P 500 index touched an all-time high on Thursday, after the Federal Reserve indicated that it could cut interest rates as early as July to combat growing risks to global and domestic growth. The U.S. central bank left rates unchanged at the end of its two-day June policy meeting on Wednesday, but...
  • Easy Fed Gives Gold Rocket Fuel

    06/20/2019 6:04:23 AM PDT · by Migraine · 48 replies ^ | June 20, 2019 | Jim Wyckoff
    (Kitco News) - Gold and silver prices are sharply higher in early morning U.S. trading Thursday. Gold powered to a five-year high, while silver prices hit a five-week high. Major central banks that are leaning easy on their monetary policies are boosting the metals and the raw commodity sector, in general. Gold is also seeing increased safe-haven buying interest as tensions in the Persian Gulf are on the rise. August gold futures were last up $37.50 an ounce at 1,386.50. July Comex silver prices were last up $0.417 at $15.385 an ounce. Traders and investors are still digesting Wednesday’s conclusion...
  • Fed remains unchanged on rates, pledges to 'sustain the expansion'

    06/19/2019 12:01:45 PM PDT · by Hojczyk · 16 replies
    Yahoo Finance ^ | June 19, 2019 | Brian Cheung
    The Federal Reserve did not move on rates at the conclusion of its policysetting meeting June 19, but committed itself to acting “as appropriate to sustain the expansion.” The Fed elected to keep the benchmark interest rate within its target range of 2.25% to 2.5%, but new economic projections show more Fed officials seeing the case for a rate cut — or two — by the end of 2020. The Fed said it still sees a “sustained expansion of economic activity, strong labor market conditions, and inflation near” the committee’s 2% target, but added that “uncertainties about this outlook have...
  • Vice President Mike Pence backs Trump’s call to lower rates, citing low consumer inflation

    04/10/2019 2:13:04 PM PDT · by Navy Patriot · 11 replies
    CNBC ^ | April 10, 2019 | Tucker Higgins
    Vice President Mike Pence said that despite his bullish view of the state of the economy, he backed the president’s calls for further rate cuts from the Federal Reserve. The comments came in response to a question from CNBC’s Joe Kernen, and will air 6 a.m. ET Thursday morning on Squawk Box. “If things are so great, I don’t understand ... At this point, people say we don’t have dry powder for the next slow down. Why would we cut rates again?” Kernen asked.
  • Had the Fed not mistakenly raised interest rates, [Trump Tweet]

    03/29/2019 6:04:57 PM PDT · by Moonman62 · 39 replies
    Twitter ^ | 03/29/19 | President Trump
    Had the Fed not mistakenly raised interest rates, especially since there is very little inflation, and had they not done the ridiculously timed quantitative tightening, the 3.0% GDP, & Stock Market, would have both been much higher & World Markets would be in a better place!
  • Congress shrugs off $22 trillion national debt: 'I don't see a lot of appetite for cutting spending'

    02/20/2019 4:28:54 PM PST · by jazusamo · 81 replies
    The Washington Times ^ | February 20, 2019 | David Sherfinski
    Yes, Congress is aware the national debt recently surpassed $22 trillion for the first time in U.S. history. No, members don’t think they’ll do anything to seriously address it anytime soon. “I don’t see anybody prioritizing it, and sadly folks often prioritize things when crisis hits. I don’t want a debt spiral crisis to hit,” said Rep. Rob Woodall, Georgia Republican. “I hear lots of conversations about how to spend a whole lot more.” With the spending process for 2019 now wrapped up, lawmakers are turning their attention to exactly how they plan to avoid $126 billion in cuts set...
  • Current Federal Reserve Interest Rates and Why They Change

    12/31/2018 9:28:01 AM PST · by texas booster · 13 replies
    The Balance ^ | Dec 19 2018 | Kimberly Amadeo
    ... The FOMC raised the fed funds rate a quarter point to 2.5 percent on December 19, 2018. Prior to that, the Fed had raised rates to the following levels: 0.5 percent on Dec. 15, 2015. 0.75 percent on Dec. 14, 2016. 1.0 percent on March 5, 2017. 1.25 percent on June 14, 2017. 1.5 percent on Dec. 13, 2017. 1.75 percent on March 21, 2018. 2.0 percent on June 13, 2018. 2.25 percent on September 26, 2018. The Fed finished tapering off its quantitative easing program in 2013. That was a massive expansion of the Fed's open market operations...
  • Fed hikes rates, points to two more increases by year's end

    06/13/2018 11:03:02 AM PDT · by DCBryan1 · 53 replies
    CNBC ^ | 13 JUN 18 | Jeff Cox
    The Federal Reserve hiked its benchmark short-term interest rate a quarter percentage point Wednesday and indicated that two more increases are likely in store ahead. The move pushes the funds rate target to 1.75 percent to 2 percent. The rate is closely tied to consumer debt, particularly credit cards, home equity lines of credit and other adjustable-rate instruments. In an unusually terse statement that ran just 320 words, the Federal Open Market Committee changed multiple phrases from its previous missives, pointing to a more optimistic view on economic growth and higher inflation expectations.
  • U.S. Stocks Sell Off on Concerns About Trade

    03/22/2018 2:49:13 PM PDT · by reaganaut1 · 47 replies
    Wall Street Journal ^ | March 22, 2018 | Michael Wursthorn and Riva Gold
    Trade war fears that have roiled the markets for two weeks intensified Thursday, sending the Dow Jones Industrial Average tumbling more than 700 points and adding to concerns that stocks could be headed for a larger reckoning. Thursday’s selling, which sent shares of manufacturers, aluminum producers and steelmakers sharply lower, marked the culmination of months of growing investor anxiety over the course of U.S. trade policy. It came at a time when many say the market was already under pressure, gripped by fears over rising interest rates and sliding technology shares. Trade tensions ratcheted higher, as the Trump administration said...
  • Dow close down more than 720 points amid news of Trump's planned tariffs on China

    03/22/2018 1:46:11 PM PDT · by SMGFan · 70 replies
    ABC News ^ | March 22, 2018
    The Dow Jones Industrial Average plunged more than 700 points today amids Wall Street fears of a potential trade war with China sparked by punishing tariffs announced by President Donald Trump.
  • Stocks hold gains after Fed raises rates, as expected

    03/15/2017 11:07:48 AM PDT · by ColdOne · 32 replies ^ | 3/15/17 | [CNBC] Evelyn Cheng
    U.S. stocks traded higher Wednesday, helped by a bounce in oil prices, after the Fed raised interest rates, as expected. Shorter-end Treasury yields came off session highs. The 2-year yield (U.S.:US2Y) fell to 1.33 percent after earlier hitting a high of 1.401 percent, its highest since June 11, 2009. The 10-year yield (U.S.:US10Y) traded around 2.58 percent as of 2:01 p.m.
  • Is Janet Yellen Trying to Trigger a Recession For Political Purposes?

    03/09/2017 7:56:55 AM PST · by MtnClimber · 23 replies
    Zero Hedge ^ | 8 Mar, 2017 | Phoenix Capital...
    Trump might want to put a call in to Janet Yellen. The Fed is supposed to be a neutral, independent entity. However, that myth went out the window when Bernanke “gifted” QE 3 to Obama in 2012 to aid with the latter’s re-election bid. The Yellen Fed seems to be even more committed to defining the Fed as nothing more than a leftist establishment mechanism. Back in October when it still looked like Hillary Clinton would win the 2016 Presidential election, Yellen commented that she was considering letting the economy run “hot” meaning allowing inflation to rise without implementing additional...
  • Fed to raise rates as Trump economy looms (Time to "Take Foot off the Gas")

    12/11/2016 8:25:45 AM PST · by brucedickinson · 52 replies
    There is little room for doubt that the US Federal Reserve will raise the benchmark interest rate in the coming week for only the second time in a decade. With unemployment at a nine-year low, jobs being created at an average of 180,000 per month, the economy growing at better than three percent in the most recent quarter and some signs of a pickup in inflation, the writing is on the wall. "I think the economy's doing fine," he told AFP. "The Fed taking its foot off the gas is not going to derail the US economy."