MNI BRIEF: US Budget Deficit $367B In Nov; FYTD Record $624B

MNI BRIEF: Former BOC Dep Beaudry Sees 2.75%-3% Rate In 2025

BOC WILL BE CONSDIERING FURTHER RATE CUTS

MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: US NOV TREASURY BUDGET -$366.8B

EZ/UK Bond Supply Calendar: BTP Auction on Thursday

US EIA: CRUDE OIL STOCKS EX SPR -1.42M TO 422.0M DEC 06 WK

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: Kugler: Need To Frontload Rate Cuts Given Policy Lags

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

Some headlines from the Q&A with Fed Gov Kugler, who certainly takes a dovish perspective with respect to the current stance of policy and the "need" to frontload rate cuts "given lags". 

  • She echoes Chair Powell's Jackson Hole language on the risks to the labor market, saying she doesn't want it to "weaken further", with payroll gains potentially already under the breakeven rate (which is the pace for job creation that absorbs new entrants to the workforce and keeps the unemployment rate constant).
  • Her commentary maintains the focus on the September employment report, published Friday Oct 4.
  • KUGLER: EVERYBODY THINKS OUR POLICY STANCE IS RESTRICTIVE NOW
  • KUGLER: GIVEN LAGS IN POLICY, WE NEEDED TO FRONTLOAD RATE CUTS
  • KUGLER: NEUTRAL RATE NOT MAIN DRIVER OF DECISIONS ON RATES
  • KUGLER: JOB GAINS MAY ALREADY BE UNDER BREAKEVEN, OR NEAR IT
  • KUGLER: WILL TAKE A LITTLE TIME TO GET TO 2% INFLATION
  • KUGLER: JOB MARKET HAS COOLED, DON'T WANT IT TO WEAKEN FURTHER -bbg
156 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.

Some headlines from the Q&A with Fed Gov Kugler, who certainly takes a dovish perspective with respect to the current stance of policy and the "need" to frontload rate cuts "given lags". 

  • She echoes Chair Powell's Jackson Hole language on the risks to the labor market, saying she doesn't want it to "weaken further", with payroll gains potentially already under the breakeven rate (which is the pace for job creation that absorbs new entrants to the workforce and keeps the unemployment rate constant).
  • Her commentary maintains the focus on the September employment report, published Friday Oct 4.
  • KUGLER: EVERYBODY THINKS OUR POLICY STANCE IS RESTRICTIVE NOW
  • KUGLER: GIVEN LAGS IN POLICY, WE NEEDED TO FRONTLOAD RATE CUTS
  • KUGLER: NEUTRAL RATE NOT MAIN DRIVER OF DECISIONS ON RATES
  • KUGLER: JOB GAINS MAY ALREADY BE UNDER BREAKEVEN, OR NEAR IT
  • KUGLER: WILL TAKE A LITTLE TIME TO GET TO 2% INFLATION
  • KUGLER: JOB MARKET HAS COOLED, DON'T WANT IT TO WEAKEN FURTHER -bbg