CPI December 2021: Inflation Jumped at Fastest Pace Since 1982

The Consumer Price Index increased at the fastest pace in 40 years, a new report showed.

#automobiles, #consumer-price-index, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #prices-fares-fees-and-rates, #shortages, #supply-chain, #united-states-economy

Jerome Powell Says Fed Is Prepared to Raise Rates to Tame Inflation

The Federal Reserve chair is testifying before lawmakers as he seeks Senate confirmation to a second term.

#banking-and-financial-institutions, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #united-states-economy, #united-states-politics-and-government

A Fed Official’s 2020 Trade Drew Outcry. It Went Further Than First Disclosed.

Corrected disclosures show that Vice Chair Richard H. Clarida sold a stock fund, then swiftly repurchased it before a big Fed announcement.

#clarida-richard-h-1957, #conflicts-of-interest, #ethics-and-official-misconduct, #federal-reserve-bank-of-dallas, #federal-reserve-system, #kaplan-robert-s, #powell-jerome-h, #rosengren-eric-s, #securities-and-exchange-commission, #stocks-and-bonds

The Missing Data in the Inflation Debate

Until we know how price spikes affect the poor, we won’t see their real impact.

#consumer-price-index, #income, #income-inequality, #inflation-economics, #interest-rates, #powell-jerome-h, #united-states-economy

PCE Index Hit Highest Level in November Since 1982

The Fed’s preferred inflation gauge, the Personal Consumption Expenditures index, climbed 5.7 percent in November from a year earlier.

#consumer-confidence-economic-indicator, #federal-reserve-system, #inflation-economics, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #united-states-economy

How the 2020s Economy Could Resemble the 1980s

It depends on whether Jerome Powell at the Fed can pull a reverse Paul Volcker.

#federal-reserve-system, #inflation-economics, #powell-jerome-h, #reagan-ronald-wilson, #united-states-economy, #volcker-paul-a

What If the Fed Is Wrong About Inflation?

Will we revisit that 1980s show?

#economics-theory-and-philosophy, #federal-reserve-system, #inflation-economics, #internal-sub-only-nl, #powell-jerome-h, #united-states, #united-states-economy, #volcker-paul-a

Inflation Keeps Getting Worse. But Can the Fed Really Rein It In?

Higher interest rates could put a cap on rising costs, but it could also make the economy worse for workers.

#american-families-plan-2021, #biden-joseph-r-jr, #build-back-better, #debatable, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #united-states-economy

Omicron Is an Economic Threat, but Inflation Is Worse, Central Bankers Say

Within 24 hours, the Federal Reserve, Bank of England and European Central Bank all stepped forward to deal with price increases.

#bailey-andrew-1959, #banking-and-financial-institutions, #coronavirus-omicron-variant, #economic-conditions-and-trends, #europe, #great-britain, #inflation-economics, #interest-rates, #lagarde-christine, #powell-jerome-h, #prices-fares-fees-and-rates, #quantitative-easing, #united-states

Why Jerome Powell Pivoted on Inflation

A surge in wages and benefits got his attention. Other data soon confirmed his concern.

#banking-and-financial-institutions, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #prices-fares-fees-and-rates, #quantitative-easing, #united-states-economy

Fed Could Raise Rates 3 Times in 2022, Speeds End of Bond-Buying

Federal Reserve officials suggested as many as three interest rate increases in 2022 as the economy heals and inflation persists.

#coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #quantitative-easing, #stimulus-economic, #united-states-economy

The Fed Meets Amid Faster Inflation and Prepares to React

The Federal Reserve could announce plans to cut economic support faster, and may signal 2022 rate increases, at its Dec. 14-15 meeting.

#coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #quantitative-easing, #united-states-economy

Take Action Now to Curb Inflation

It’s better to act more aggressively now than wait and risk sparking a recession later.

#banking-and-financial-institutions, #consumer-price-index, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #united-states-economy

Consumer Prices Rose at Fastest Pace Since 1982

The Consumer Price Index is rising sharply, a concern for Washington policymakers and a sign of the rising costs facing American households.

#biden-joseph-r-jr, #consumer-price-index, #coronavirus-2019-ncov, #factories-and-manufacturing, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #price-gouging, #prices-fares-fees-and-rates, #united-states-politics-and-government, #wages-and-salaries

November 2021 Jobs Report: A Gain of 210,000

Employers reported adding 210,000 jobs, the year’s weakest showing, but there were also bright spots. The mixed picture complicated policy prospects.

#biden-joseph-r-jr, #coronavirus-omicron-variant, #federal-reserve-system, #hiring-and-promotion, #inflation-economics, #labor-and-jobs, #labor-department-us, #powell-jerome-h, #prices-fares-fees-and-rates, #unemployment, #united-states-economy, #wages-and-salaries

A Top Official Says the Fed Will ‘Grapple’ With a Faster Bond-Buying Taper

The president of the New York Federal Reserve said Omicron could prolong supply and demand mismatches, causing some inflation pressures to last.

#coronavirus-2019-ncov, #coronavirus-omicron-variant, #economic-conditions-and-trends, #federal-open-market-committee, #federal-reserve-bank-of-new-york, #inflation-economics, #labor-and-jobs, #powell-jerome-h, #quantitative-easing, #shortages, #stimulus-economic, #united-states-economy, #williams-john-c

Powell Says Fed Could Finish Bond-Buying Taper Early

The Federal Reserve could pull back economic support faster as inflation lasts, and its chair signaled that for now the Omicron variant is a “risk.”

#banking-and-financial-institutions, #federal-reserve-system, #inflation-economics, #powell-jerome-h, #quantitative-easing, #senate-committee-on-banking, #stimulus-economic, #united-states-economy, #united-states-politics-and-government

How Softies Seized the Fed

For now, doves rule the roost.

#brainard-lael, #economics-theory-and-philosophy, #federal-reserve-system, #friedman-milton, #inflation-economics, #internal-sub-only-nl, #powell-jerome-h, #recession-and-depression, #unemployment

Biden Will Keep Jerome Powell as Federal Reserve Chair

The White House returned to a longstanding pattern in which presidents reappoint the same leader of the Federal Reserve regardless of partisan identity.

#appointments-and-executive-changes, #biden-joseph-r-jr, #brainard-lael, #federal-reserve-system, #powell-jerome-h, #united-states-economy, #united-states-politics-and-government

Overheating the Economy Now Could Mean Trouble Later

Now that Jerome Powell has been renominated to head the Federal Reserve, he needs to turn the temperature down.

#biden-joseph-r-jr, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #recession-and-depression, #united-states-economy

Biden Bets Big on Continuity at the Fed

Jerome Powell and Lael Brainard are known quantities in a turbulent time.

#biden-joseph-r-jr, #brainard-lael, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #united-states-economy, #united-states-politics-and-government

Powell or Brainard? Why Biden’s Pick to Lead the Fed Matters Now

Joe Biden’s pick to head the Federal Reserve is coming down to Jay Powell or Lael Brainard.

#appointments-and-executive-changes, #banking-and-financial-institutions, #biden-joseph-r-jr, #brainard-lael, #democratic-party, #federal-reserve-system, #greenspan-alan, #inflation-economics, #interest-rates, #manchin-joe-iii, #powell-jerome-h, #united-states-economy, #united-states-politics-and-government, #warren-elizabeth

What Jerome Powell Didn’t Do: Lay the Groundwork for Higher Rates

He said high inflation was mostly a result of pandemic effects like supply network disruptions, a problem he thinks the Fed can’t fix.

#banking-and-financial-institutions, #credit-and-debt, #inflation-economics, #interest-rates, #powell-jerome-h, #quantitative-easing, #stimulus-economic, #united-states-economy

Federal Reserve Announces Plan to Slow Bond Buying Program

The Federal Reserve is dealing with high inflation at a time when millions of workers remain on the job market’s sidelines.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #united-states-economy

What to watch at the Fed’s meeting Wednesday.

The Federal Reserve is expected to announce plans at 2 p.m. Wednesday to slow its bond buying while leaving interest rates near zero. But the focus is on what comes next.

#banking-and-financial-institutions, #federal-open-market-committee, #federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #prices-fares-fees-and-rates, #quantitative-easing, #shortages, #stimulus-economic, #united-states-economy

As the Fed Prepares to Slow Support, Attention Shifts to Rate Increases

The Federal Reserve is expected to announce a plan to taper off its bond buying. With inflation surging, economists’ eyes are already turning to rates.

#federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #stimulus-economic, #united-states, #united-states-economy

The Bond Market Says Inflation Will Last. You Should Be Listening.

Inflation is as much a psychological process as an economic one. And a key indicator of inflation expectations has risen in recent days, which could ultimately lead to higher interest rates.

#federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #quantitative-easing, #stocks-and-bonds, #united-states-economy

Biden Needs to Diversify the Fed’s Leadership

President Biden has a chance to overhaul the stale culture of central banking.

#appointments-and-executive-changes, #bank-of-japan, #banking-and-financial-institutions, #bernanke-ben-s, #biden-joseph-r-jr, #federal-reserve-system, #greenspan-alan, #jpmorgan-chasecompany, #morgan-stanley, #powell-jerome-h, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #stocks-and-bonds, #united-states-economy

Federal Reserve Announces New Trading Restrictions on Central Bank Officials

The Federal Reserve faced scrutiny after two regional bank presidents disclosed questionable 2020 trading. Now it’s revamping the rules.

#banking-and-financial-institutions, #ethics-and-official-misconduct, #federal-reserve-system, #kaplan-robert-s, #powell-jerome-h, #rosengren-eric-s, #securities-and-commodities-violations, #stocks-and-bonds, #warren-elizabeth

Fed Ethics Office Warned Officials to Curb Unnecessary Trading During Rescue

Months later, some Federal Reserve leaders resumed their market activity, stoking a scandal now engulfing the central bank.

#banking-and-financial-institutions, #credit-and-debt, #ethics-and-official-misconduct, #federal-reserve-system, #powell-jerome-h, #stocks-and-bonds

Weak Employment and Rising Prices Raise the Stakes for the Fed

The disappointing payrolls report for September came at a high-pressure moment for the central bank, as it balances inflation with missing jobs.

#coronavirus-2019-ncov, #federal-reserve-system, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #prices-fares-fees-and-rates, #quantitative-easing, #stimulus-economic, #unemployment, #united-states-economy

Fed Chair Jerome Powell Faces Reappointment Amid Tumult

Mr. Powell is facing down progressive pushback and an ethics scandal as the White House considers his future.

#banking-and-financial-institutions, #biden-joseph-r-jr, #brainard-lael, #democratic-party, #ethics-and-official-misconduct, #federal-reserve-system, #insider-trading, #powell-jerome-h, #united-states-economy, #warren-elizabeth

Elizabeth Warren Calls for an Insider Trading Inquiry at the Fed

The Democratic Senator called for an investigation after news that the Fed’s vice chair shifted toward stocks shortly before a policy announcement last year.

#banking-and-financial-institutions, #clarida-richard-h-1957, #ethics-and-official-misconduct, #federal-reserve-bank-of-boston, #federal-reserve-bank-of-dallas, #federal-reserve-system, #gensler-gary-s, #insider-trading, #powell-jerome-h, #rosengren-eric-s, #securities-and-commodities-violations, #securities-and-exchange-commission, #warren-elizabeth

Janet Yellen and Jerome Powell warn that the Delta variant is slowing the recovery.

The Treasury secretary and the Federal Reserve chair prepared remarks ahead of their testimony today to the Senate Banking Committee.

#banking-and-financial-institutions, #federal-reserve-system, #national-debt-us, #powell-jerome-h, #senate-committee-on-banking, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l

Kaplan and Rosengren, Fed Presidents Under Fire for Trades, Will Step Down

Robert S. Kaplan will exit his role as head of the Federal Reserve Bank of Dallas next month. Eric S. Rosengren, the head of the Federal Reserve Bank of Boston, is also retiring earlier than planned.

#ethics-and-official-misconduct, #federal-open-market-committee, #federal-reserve-bank-of-boston, #federal-reserve-bank-of-dallas, #federal-reserve-system, #kaplan-robert-s, #powell-jerome-h, #real-estate-commercial, #retirement, #rosengren-eric-s, #stocks-and-bonds

Jerome Powell says the Fed is reviewing its trading rules.

The Federal Reserve is embroiled in an unusual drama: Some officials traded stocks and other financial products last year, prompting calls for an investigation.

#ethics-and-official-misconduct, #federal-reserve-system, #kaplan-robert-s, #powell-jerome-h, #rosengren-eric-s

Does the U.S. Economy Still Need Booster Shots?

This week, the Federal Reserve may hint at an answer.

#federal-reserve-system, #interest-rates, #internal-sub-only, #powell-jerome-h, #quantitative-easing, #recession-and-depression, #stimulus-economic, #stocks-and-bonds

Economics Needs to Reckon With What It Doesn’t Know

How the past decade upended economic policy.

#audio-neutral-informative, #economics-theory-and-philosophy, #keynes-john-maynard, #powell-jerome-h, #recession-and-depression

Elizabeth Warren Asks the Fed to Break Up Wells Fargo

She wants the Federal Reserve to revoke a key operating license and force a split between Wells Fargo’s banking and Wall Street businesses.

#banking-and-financial-institutions, #federal-reserve-system, #office-of-the-comptroller-of-the-currency, #powell-jerome-h, #regulation-and-deregulation-of-industry, #scharf-charles-w, #warren-elizabeth, #wells-fargocompany

Should Biden Reappoint Jerome Powell? It Depends on His Theory of Change.

Lael Brainard is more aligned with the president, so picking her may please Democrats. Powell may have a more bipartisan seal of approval.

#appointments-and-executive-changes, #banking-and-financial-institutions, #biden-joseph-r-jr, #brainard-lael, #federal-reserve-system, #politics-and-government, #powell-jerome-h, #united-states-economy

Fed Officials’ Trading Draws Outcry, and Fuels Calls for Accountability

Central bank regional presidents traded securities in markets in which Fed choices mattered in 2020. Here’s why critics find that troubling.

#banking-and-financial-institutions, #coronavirus-2019-ncov, #ethics-and-official-misconduct, #federal-reserve-bank-of-boston, #federal-reserve-bank-of-new-york, #federal-reserve-system, #powell-jerome-h, #quarles-randal-k, #rosengren-eric-s, #stocks-and-bonds, #williams-john-c, #yellen-janet-l

Crypto’s Rapid Move Into Banking Elicits Alarm in Washington

The boom in companies offering cryptocurrency loans and high-yield deposit accounts is disrupting the banking industry and leaving regulators scrambling to catch up.

#andreessen-horowitz, #banking-and-financial-institutions, #blockfi-inc, #coinbase-inc, #federal-reserve-system, #gensler-gary-s, #powell-jerome-h, #regulation-and-deregulation-of-industry, #securities-and-exchange-commission, #treasury-department, #virtual-currency, #warren-elizabeth, #yellen-janet-l

Crypto Banking and Decentralized Finance, Explained

The revolution in digital money is now moving into banking, as cryptocurrency starts to reshape the way people borrow and save.

#banking-and-financial-institutions, #bitcoin-currency, #blockfi-inc, #ethereum-foundation, #gensler-gary-s, #kraken-payward-inc, #powell-jerome-h, #regulation-and-deregulation-of-industry, #virtual-currency

August Jobs Report is Concerning News for Fed

The Federal Reserve and White House had hoped for strong job gains, and the August report did not deliver. That makes coming numbers critical.

#federal-reserve-system, #interest-rates, #labor-and-jobs, #powell-jerome-h, #quantitative-easing, #stimulus-economic, #unemployment

Stocks Shake Off Bad News to Rally for Seventh Straight Month

With expectations that interest rates will stay down and government spending will stay up, the stock market has learned to live with the pandemic, even as cases increase.

#coronavirus-2019-ncov, #coronavirus-delta-variant, #federal-reserve-system, #interest-rates, #moderna-inc, #powell-jerome-h, #quantitative-easing, #stocks-and-bonds, #united-states-economy

Powell Signals Fed Could Start Removing Economic Support

Speaking at a virtual version of the Fed’s Jackson Hole conference, Jerome Powell gave an assessment of the economy in prepared remarks.

#coronavirus-delta-variant, #coronavirus-reopenings, #federal-reserve-system, #government-bonds, #inflation-economics, #interest-rates, #international-trade-and-world-market, #powell-jerome-h, #quantitative-easing

What to expect from Jerome Powell’s speech at the Fed’s annual conference.

Instead of laying out how the Fed will taper its bond-buying, Mr. Powell may instead explain how the Fed is thinking about Delta variant risks and recent rapid inflation.

#federal-reserve-system, #inflation-economics, #interest-rates, #powell-jerome-h, #quantitative-easing, #united-states-economy

How Should the Fed Deal With Climate Change?

When the economy hits hard times, survey data shows, people are less likely to worry about the environment.

#brainard-lael, #federal-reserve-system, #global-warming, #polls-and-public-opinion, #powell-jerome-h, #united-states-economy

The Pandemic Is Testing the Federal Reserve’s New Policy Plan

Year 1 of the Fed’s framework, unveiled at its Jackson Hole conference in 2020, has included high inflation and job market healing. Now comes the hard part.

#coronavirus-2019-ncov, #federal-reserve-system, #government-bonds, #inflation-economics, #interest-rates, #labor-and-jobs, #powell-jerome-h, #stimulus-economic, #unemployment, #united-states-economy, #wages-and-salaries

Janet Yellen Gets a Chance to Shape the Fed, This Time From Outside

As Jerome H. Powell nears the end of his term as Federal Reserve chair, Ms. Yellen will have a say over whether he should stay on. Many progressive Democrats want him replaced.

#appointments-and-executive-changes, #banking-and-financial-institutions, #brainard-lael, #federal-reserve-system, #powell-jerome-h, #treasury-department, #united-states-economy, #united-states-politics-and-government, #yellen-janet-l