US NOV FLASH MANUF PMI 48.8 (FCST: 48.9); OCT 48.5

MNI:Largest Canada New Home Price Dip Since `09 Led By Toronto

CANADIAN OCT FLASH RETAIL SALES +0.7%, 4TH STRAIGHT INCREASE

MNI China Daily Summary: Friday, November 22

MNI: PBOC Net Drains CNY345.9 Bln via OMO Friday

MNI BRIEF: Fed Should Explore Central Clearing At SRF-Hammack

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, EU Due Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL NOV INDEX 71.8

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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

Future Decisions Going To Depend On Totality of the Data

FED
  • Q: Is the FOMC focused on targeting a level of real rather than nominal rate restriction? Would you still raise rates if it turned out you were going to achieve the same real rate this year due to inflation falling?
    • A: We understand that it's a real rate that will matter and that needs to be sufficiently restrictive. You know sufficiently restrictive only when you see it. What we're seeing is inflation coming down - principally now in goods, also in housing services, you begin to see it in non-housing services as well.
    • Confidence we're at that level comes from seeing enough data. We're not permanently deciding not to go higher but let's say if we get to that level. And then the question is how long do you stay at that level. For now the question is trying to find that level.
    • The decision that we make at each meeting and certainly at the last two meetings this year is going to depend on the totality of the data, so the inflation data, the labor market data, the growth data, the balance of risks and the other events that are happening out there. We take all of that into account. So I can't really answer a hypothetical.
Energy BulletsCommoditiesFOMC Calendar Market News
Energy BulletsCommoditiesFOMC Calendar Market News

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.