CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

FED: Goolsbee Continues To Look For "A Lot" Of Easing In Next Year

FED
USGlobalEM BulletFederal ReserveCentral Bank NewsFixed Income BulletsBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America

Chicago Fed Pres Goolsbee says on local radio regarding the Fed's decision last month to begin easing: whether the size of a cut is 25bp vs 50bp, or when to start cutting, is not the most important question ... the most important thing is that rates need to come down over the next 12 months by "a lot" to get to neutral.

  • That's not new for this dovish FOMC member: on Sep 30 he used very similar language ("a lot") on the rate cut cycle; on Sep 23 he said that the Fed funds rate was "hundreds of basis points" above neutral.
  • More interestingly, he opened with comments about the recently-started ports strike, saying that the economy has not yet been affected by it. It's likely to be a key risk theme for the Fed this month.
135 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Chicago Fed Pres Goolsbee says on local radio regarding the Fed's decision last month to begin easing: whether the size of a cut is 25bp vs 50bp, or when to start cutting, is not the most important question ... the most important thing is that rates need to come down over the next 12 months by "a lot" to get to neutral.

  • That's not new for this dovish FOMC member: on Sep 30 he used very similar language ("a lot") on the rate cut cycle; on Sep 23 he said that the Fed funds rate was "hundreds of basis points" above neutral.
  • More interestingly, he opened with comments about the recently-started ports strike, saying that the economy has not yet been affected by it. It's likely to be a key risk theme for the Fed this month.