Powell Signals Delay in Rate Cuts Due to Persistent Inflation

https://www.bloomberg.com/news/articles/2024-04-16/powell-signals-high-rates-for-longer-due-to-persistent-inflation

by cutteeeth

7 comments

  2. More on this subject from other reputable sources:

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    – Fox Business (C-): [Fed’s Powell says inflation data this year shows a ‘lack of progress’](https://www.foxbusiness.com/economy/feds-powell-says-inflation-data-year-shows-lack-progress)
    – Wall Street Journal (B): [Powell Dials Back Expectations on Rate Cuts](https://www.wsj.com/economy/central-banking/powell-dials-back-expectations-on-rate-cuts-00e3e5d0)
    – CNBC (B): [Fed Chair Powell says there has been a ‘lack of further progress’ this year on inflation](https://www.cnbc.com/2024/04/16/powell-cites-lack-of-progress-this-year-in-reaching-feds-inflation-goal.html)
    – Financial Times (A-): [Jay Powell says US inflation ‘taking longer than expected’ to hit target](https://www.ft.com/content/3d0ddbe1-4637-4262-ba40-934015606166)

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  3. Why is this news? They’ve always said they will respond to latest data.

  4. Why is this news? They’ve always said they will respond to latest data.

  5. Just watch the 2yr. It’s been climbing, which means money has been flowing elsewhere. Once something breaks, money will flow to where it’s seen as “safest”, which is treasuries. That, in turn, lowers the yield offered.

    Fed funds tries to match the 2yr. It’s obviously a lagging indicator as the only meet once a month and sometimes not even then

  7. Soooo….just increasing gas prices skyrocketing…again….the ‘solution ‘ is predatory interest rates skyrocketing…again…

    In the meantime:..Bank of America’s Net interest income, or the difference between what the company earns from loans and investments and what it pays customers for their deposits, was $14.19 billion, topping the $13.93 billion StreetAccount estimate.

    The bank’s interest income was a “slight positive surprise,” …🧐

    But Americans are drowning in credit card debt… have experienced major cost of living hikes because of rising property taxes, electricity bills and insurance premiums…..

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