MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

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

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

Powell Says Fed Did Not Put a Recession Back Into The Forecast

FED
  • Q: Did the Fed staff put a recession back into the forecast? How much do tighter fin conditions substitute for rate hikes?
    • A: I guess I don't want to answer your question about the recession, but the answer is no. You will know anyway in the minutes, the staff did not put a recession back in. It would be hard to see how you would do that if you look at the activity we have seen recently.
    • In terms of how to think of the translation into rate hikes, I think it is just too early to be doing that. The main reason is we don't know how persistent this will be. You can see how volatile it is. We can say financial conditions have clearly tightened and you can see that in the rates that consumers, households and businesses are paying now. And over time that will have an affect. We don't know how persistent it will be, and it would be difficult to translate that into a way I would be comfortable communicating how many rate hikes that is.
Energy BulletsCommodities
Energy BulletsCommodities

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.