Federal Reserve Bank officials, including Atlanta Fed President Raphael Bostic, Richmond Fed President Thomas Barkin, and New York Fed President John Williams, have expressed diverging views on monetary policy. Bostic is increasingly convinced that inflation will continue to slow along with economic activity in the coming months. Barkin wants to keep the option to hike interest rates on the table in case inflation proves stubborn. Meanwhile, Williams reiterated that the Fed's benchmark lending rate is at or near its peak level and said monetary policy is quite restrictive. The Fed's preferred measure of inflation, the Core PCE, fell to 3.5% in October, the lowest since April 2021, indicating a cooling trend in inflation.
A closely watched measure of inflation showed continued signs of fading in October, encouraging news for the Federal Reserve as officials try to gauge whether they need to take further action in order to fully stamp out rapid price increases. https://t.co/5XNf35QlFl
Fed's favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected https://t.co/OWB0YdqoPb
The PCE-based ecumenical underlying inflation measure was 2.7% in October. That is the median of 9 measures over 3 time periods all remeaned to match the Fed's PCE goal. (FWIW, my own judgment a touch lower than this, a lot of 12-month #s affecting this.) https://t.co/v2a6CumCkE
As inflation cools, Fed officials signal rate hikes likely done https://t.co/E2qgHGPcZE https://t.co/0GxPpQrNjj
Fed's preferred inflation gauge cools, clearing path for rate hikes to end https://t.co/57iEkfEPKh https://t.co/vmnp4jMUdi
⚠️ AS INFLATION COOLS, FED OFFICIALS SIGNAL RATE HIKES LIKELY DONE Federal Reserve policymakers signaled on Thursday the U.S. central bank's interest rate hikes are likely over, but held the door open to further monetary policy tightening should progress on inflation stall, and… https://t.co/L5scgRbf4Y
The @NewYorkFed President Williams reiterated the Fed’s benchmark lending rate is at or near its peak level and said monetary policy is “quite restrictive.” "I expect it will be appropriate to maintain a restrictive stance for quite some time" https://t.co/tfCVVn1fHc
🔴 FED'S WILLIAMS: THE KEY FOR POLICY IS THE PERSISTENCE OF EASING IN FINANCIAL CONDITIONS.
⚠️ FED'S WILLIAMS KEEPS ALIVE RATE HIKE CHANCE IF INFLATION DOESN'T RETREAT Federal Reserve Bank of New York President John Williams said on Thursday that the U.S. central bank is likely done with interest rate hikes, but he added that rates could rise again if inflation… https://t.co/Gan82HVmOn
Federal Reserve Bank of New York President John Williams reiterated the Fed’s benchmark lending rate is at or near its peak level and said monetary policy is “quite restrictive.” https://t.co/duBXRxUvtN
US Fed’s favored inflation gauge slows in October https://t.co/vUftR3TVA9
New York Fed President John Williams says the Fed's job is nearly not done: "We are at or near the peak level of the target range of the Fed funds rate." @Jenniferisms discusses: https://t.co/pHhXojkvM6
Federal Reserve Bank of New York President John Williams reiterated the Fed’s benchmark lending rate is at or near its peak level and said monetary policy is “quite restrictive.” https://t.co/dRM4F0wngB
New York Fed president John Williams says the Fed's job is nearly not done: "We are at or near the peak level of the target range of the Fed funds rate." @Jenniferisms discusses: https://t.co/45sdD8bYv4
Federal Reserve Bank of New York President John Williams reiterated the Fed’s benchmark lending rate is at or near its peak level and said monetary policy is “quite restrictive.” https://t.co/jKSPx74HEM
🇺🇸Further dis-#inflation in October ✅Headline PCE prices +0.05% m/m ✅Core PCE +0.2% m/m 🎯Moving toward #Fed target ⤵️Headline #inflation -0.4pt to 3.0%: low since Mar '21 ⤵️Core #inflation -0.2pt to 3.5%: low since Apr '21 https://t.co/okxbfknZS4
New York Fed President John Williams says monetary policy is “the most restrictive in 25 years” Nevertheless, “I expect it will be appropriate to maintain a restrictive stance for quite some time” https://t.co/xKcvHhCbho https://t.co/rlZTEl6Bvr
🔴 FED'S WILLIAMS: MONETARY POLICY IS QUITE RESTRICTIVE, THE MOST IN 25 YEARS.
FED'S WILLIAMS: FED IS AT OR NEAR PEAK FOR INTEREST RATE TARGET FED'S WILLIAMS: IF INFLATION PRESSURES PERSIST FED COULD HIKE AGAIN FED'S WILLIAMS: MONETARLY POLICY IS B QUITE RESTRICTIVE,B MOST IN 25 YEARS FED'S WILLIAMS: FUTURE FED DECISIONS WILL BE DRIVEN BY DATA FED'S…
🔴 FED'S WILLIAMS: FINANCIAL CONDITIONS HAVE TIGHTENED.
As regards the latest US macro data: PCE inflation, often referred to as the #Fed's favorite measure, came in as expected at 3.0% for October. Core #inflation was 3.5%, again as expected. Meanwhile, weekly jobless claims edged higher to 218,000 while the increase in monthly…
NEW: The Fed's preferred measure shows inflation was 3% in October compared to the same month a year ago — the latest data to confirm that price gains across the economy continue to slow. https://t.co/qPmUpaTHcQ
The Fed's preferred measure of inflation (Core PCE) moved down to 3.5% in October, the lowest since April 2021. The Fed Funds Rate is now 1.8% above Core PCE, the most restrictive monetary policy we've seen since 2007. https://t.co/99NenbcYDW
Fed inflation gauge cools again in October, adding to spring rate cut bets https://t.co/gw8OhST46O
Fed's preferred inflation gauge shows further signs of cooling in October https://t.co/rfyRrh9t47 by @_JoshSchafer
Fed's favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected https://t.co/fDzrgz8PLb
Inflation came in at a cool 3% in October as the Fed's rate hikes take a (strangle) hold of the US economy. https://t.co/WoOd1gqI95
BREAKING: October PCE inflation, the Fed's "preferred" inflation metric, falls to 3.0%, in-line with expectations. Core PCE inflation fell to 3.5%, in-line with expectations. Another sign inflation is falling but still above the Fed's 2% target. Can the Fed really pivot now?
Fed’s Mester Says Policy in ‘Good Place’ to Assess Incoming Data https://t.co/MEn5Ez8XhR
Fed’s Mester Says Policy in ‘Good Place’ to Assess Incoming Data https://t.co/ncmi9CKyaz
Current policy rate lets Fed be 'nimble' with incoming data, Mester says https://t.co/EDzaOOosNI https://t.co/bpIY0wpUcA
🔴 FED'S MESTER: MONETARY POLICY MUST BE NIMBLE IN CURRENT CIRCUMSTANCES.
🔴 FED'S MESTER: MONETARY POLICY IS WELL POSITIONED TO BE FLEXIBLE.
Fed Policy Is In A Good Place To Assess Data, Mester Says https://t.co/HgS4uJKV0E
🔴 FED'S MESTER: MONETARY POLICY IN A GOOD PLACE, THE US CENTRAL BANK HAS TIME TO VET INCOMING DATA.
🔸 FED'S MESTER: POLICY 'IN A GOOD PLACE' TO ASSESS INCOMING DATA
🔴 FED'S MESTER: MONETARY POLICY HAS TIGHTENED FINANCIAL CONDITIONS.
Fed regional bank presidents offer diverging views Barkin: If inflation flares back up, you want to have the option of doing more on rates Bostic: Our research & input from business leaders tell me downward trajectory of inflation will continue https://t.co/I35Yze0Sk1
Fed's Barkin says rate hikes are still on the table if inflation doesn't continue to ease https://t.co/iiC5D8RNkW
Federal Reserve Bank of Richmond President Thomas Barkin argued the central bank should keep the option to hike interest rates on the table in case inflation proves stubborn. https://t.co/2IlNhx9qBQ
⚠️ FED'S BARKIN WANTS RATE HIKE OPTION, NO TALK OF RATE CUTS Richmond Federal Reserve Bank President Thomas Barkin on Wednesday said he is "skeptical" that inflation is on its way down to 2%, and wants the option of another rate hike in case inflation gains steam. https://t.co/o3kfzxymi7
Fed's Bostic: Inflation's downward path 'will likely continue' https://t.co/FHfQyDM7wg by @Jenniferisms
Federal Reserve Bank of Richmond President Thomas Barkin argued the central bank should keep the option to hike interest rates on the table in case inflation proves stubborn. https://t.co/KGRIXHk8lY
Atlanta Fed President Raphael Bostic said he’s increasingly convinced that inflation will continue to slow along with economic activity in the coming months https://t.co/bMkGzkL4H0
Atlanta Fed President Raphael Bostic said he’s increasingly convinced that inflation will continue to slow along with economic activity in the coming months https://t.co/s5yYFrwd23
Atlanta Fed President Raphael Bostic said he’s increasingly convinced that inflation will continue to slow along with economic activity in the coming months https://t.co/CJrANt8KBd
🔴 FED'S BOSTIC: THE US CENTRAL BANK CAN FEEL MORE CONFIDENT IN ITS CURRENT OUTLOOK.
🔴 FED'S BOSTIC: US CENTRAL BANK CAN FEEL MORE CONFIDENT IN THE CURRENT OUTLOOK.
🔴 FED'S BOSTIC: TIGHTER MONETARY POLICY IS BITING HARDER INTO ECONOMIC ACTIVITY.