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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.
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Free AccessIs Chair Powell Worried Hikes May Increase Financial Stability Risks
- Q: Are you concerned rate hikes seen so far might increase risks to financial stability?
- A: There are precedents for the FOMC moving very quickly, for example, 1994, 1980. We've been known to [hike rapidly] when it's the appropriate thing to do. This year, it clearly is. I'd say, given how quickly we've moved, I'm gratified that while basically, markets have been working, they've been orderly. There's been volatility, but that's only to be expected.
- From a financial stability perspective, asset values are down, which, which in some sense, lowers vulnerabilities. It's when they're really high that you would worry they're vulnerable.
- You have a well-capitalized banking system, households are generally in about as strong financial shape as they've been in a very long time or perhaps, ever, given the money that's on people's balance sheets and so, from a financial stability standpoint, a pretty decent picture. There are plenty macroeconomic issues that don't rise to the level of financial stability concerns.
- That's not to say that people at the lower end of the income spectrum aren't suffering. They're suffering from high inflation. They're going to the grocery store and finding that, in many cases, their paycheck doesn't cover the food they're accustomed to buying. It's very unfortunate and that's why we're committed to bringing down inflation.
To read the full story
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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.