Federal Reserve Chair Jerome Powell, in his address to the Economic Club of New York, acknowledged the impact of the Fed's interest rate hikes on US consumer spending and warned that the robust economy might still require further rate increases. Amidst various uncertainties, including highly elevated geopolitical tensions, Powell stressed the importance of balancing the risks associated with monetary policy, and noted that markets might be misinterpreting Fed officials' comments. Inflation remains a concern, with both Powell and Fed's Kashkari stating it is still too high. The bond market and the 10-year Treasury reaching a multiyear high have significantly tightened financial conditions. Despite the rapid interest-rate hikes, Chicago Fed President Austan Goolsbee is hopeful of avoiding a recession. Powell's speech suggests a potential pause in rate hikes in November, but warns of more hikes if the economy heats up. Climate protesters interrupted the event ahead of Powell's remarks.
Powell sets table for November pause, warns of more rate hikes if economy heats up https://t.co/vUe1Exr5DF by @Jenniferisms
Chicago Fed President Austan Goolsbee said he’s hopeful the US is able to avoid a recession despite rapid and steep interest-rate hikes over the past 18 months https://t.co/yivYm6k3I1
Chicago Fed President Austan Goolsbee said he’s hopeful the US is able to avoid a recession despite rapid and steep interest-rate hikes over the past 18 months https://t.co/TtqMxuoLlR
Fed Chair Jerome Powell sees "bumpy" path forward as Fed weighs new rate hikes https://t.co/sAAz4k99wL https://t.co/BcebC4s2Sf
"Financial conditions have tightened significantly in recent months, and longer-term bond yields have been an important driving factor in this tightening," Federal Reserve Chairman Jerome Powell said on Thursday. https://t.co/gtcYWtbK8g https://t.co/SYULeAjwRi
Fed's Powell: Strong economy may still require rate increases https://t.co/Zb4rUPnzGY
Takeaways from Powell's ECNY speech: - Fed "proceeding carefully," leaves door open to hike - "Highly elevated" geopolitical tensions pose key risks - Monetary policy is not "too tight" right now - Climate protesters interrupt event ahead of remarks https://t.co/c0MrOO4Q13
Powell says inflation is still too high and lower economic growth is likely needed to bring it down https://t.co/Jdivt8pr98
"A range of uncertainties, both old ones and new ones, complicate our task of balancing the risk of tightening monetary policy too much against the risk of tightening too little," Federal Reserve Chairman Jerome Powell said on Thursday. https://t.co/b40S8oAkPh https://t.co/Bf6XCbObZW
Powell said the Fed is “proceeding carefully” as it considers the path of policy, and is prepared to raise rates again if officials see further signs of resilient economic growth https://t.co/Ym8wUAJnC7
Jay Powell says the Fed is "proceeding carefully" with forthcoming rate decisions, suggesting the central bank is preparing to forgo an increase on Nov 1. Now, a "range of uncertainties" is complicating the task of balancing the risks of doing too much v too little, he warns
LIVE: Federal Reserve Chair Jerome Powell is set deliver remarks at the Economic Club of New York. Follow our free live blog for the latest updates and analysis, starting now https://t.co/29MsVin2Fj
WATCH LIVE: Federal Reserve Chair Jerome Powell set to speak on the economy ahead of the next interest rate decision https://t.co/USoXlOwBZd https://t.co/qFvicHfBGu
Federal Reserve Chair Jerome Powell is set to appear at the Economic Club of New York to deliver remarks on the US outlook and monetary policy. Follow along live here, starting at 11:50 a.m. ET https://t.co/XIv4yr1pwp
Would be surprised if Powell doesn’t come with some kind of dovish tone today. More hawkish tonality and the fed runs the risk of the bond market continuing to front run things, at a rate that clearly isn’t safe for the economy. “Higher for longer”, is very different than… https://t.co/4HfV4BB7d2
Powell speech, set amid surging Treasury yields, may clarify 'higher for longer' message https://t.co/hCaQeRNBdU
10-year Treasury extends multiyear high ahead of Fed Chair Powell speech https://t.co/1Gx2R6asvP
Fed Chair Powell to deliver key speech Thursday: Here's what to expect https://t.co/u4DAR7xQV2
Why One Fed Official Is Ready to Stop Raising Rates _ WSJ https://t.co/tt9tMRSOJv
🔴 FED'S HARKER CALLS FOR EXTENSION OF PAUSE ON INTEREST-RATE INCREASES - WSJ https://t.co/6iIL10B6Yf.
🔴 FED'S HARKER CALLS FOR EXTENSION OF PAUSE ON INTEREST-RATE INCREASES - WSJ
Fed's Kashkari: inflation still too high https://t.co/1Zfie6uHah https://t.co/MX1LA6tXDK
FED'S KASHKARI: INFLATION STILL TOO HIGH (Reuters) Minneapolis Federal Reserve Bank President Neel Kashkari on Tuesday said it has taken much longer than expected for inflation to come down, and it is "still too high." https://t.co/CyHvOlODRH
⚠️ FED'S KASHKARI: INFLATION STILL TOO HIGH Full Story → https://t.co/e4L11zk2rW https://t.co/QljC3twQ66
The Fed’s campaign to hike interest rates with the goal of fighting inflation has successfully slowed US consumer spending, said Bank of America CEO Brian Moynihan https://t.co/0dK60LPxXU
Markets are misreading Fed officials' comments, and the central bank could still raise rates, analyst warns https://t.co/zY6MMkvwmx