MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

MNI BRIEF: China Visitor Mobile Payments Surge in H1

Riksbank Shouldn’t Place Too Much Weight On The Q2 GDP Indicator

MNI: SWEDEN Q2 GDP +0% Y/Y

MNI: SWEDEN JUN RETAIL SALES -0.1% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

MNI: Powell Warns Fed Prepared To Tighten Further If Needed

FED
  • (MNI) Federal Reserve Chair Jerome Powell said Friday the U.S. central bank is prepared to raise interest rates again if needed even as he acknowledged "considerable progress" in reducing high inflation while maintaining a strong labor market.
  • His remarks come just hours before the FOMC begins its communications blackout period ahead of the December meeting, in which officials are expected to hold rates steady in a 5.5%-5.75% range.
    • "It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance, or to speculate on when policy might ease. We are prepared to tighten policy further if it becomes appropriate to do so," the Fed chair told Spelman College students.
  • "Like most forecasters, my colleagues and I anticipate that growth in spending and output will slow over the next year, as the effects of the pandemic and the reopening fade and as restrictive monetary policy weighs on aggregate demand. The FOMC is strongly committed to bringing inflation down to 2% over time, and to keeping policy restrictive until we are confident that inflation is on a path to that objective."
  • The Fed would continue to make decisions "meeting by meeting, based on the totality of the incoming data," he said.
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.