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China’s key economic data in the coming week is likely to show a pickup in growth after Beijing dropped its Covid Zero rules, though it’s not yet clear how…
The Federal Reserve’s preferred measure of underlying price pressures probably remained elevated in February, keeping officials in a precarious spot as they…
(Bloomberg) The Federal Reserve’s preferred measure of underlying price pressures probably remained elevated in February, keeping officials in a precarious spot as they seek to balance inflation-fighting resolve and stress on the banking system. The US personal consumption expenditures price index, excluding food and fuel, is forecast to rise 0.4% from a month earlier, according to the Bloomberg survey median. That would follow the largest advance since June. Compared with February 2022, the core inflation gauge is seen up 4.7%, while the overall measure is projected to post a 5.1% advance both more than double the Fed’s goal. Policy makers on Wednesday raised their benchmark interest rate for the ninth straight meeting, to the highest since 2007, while stressing that their bid to tamp down inflation isn’t expected to deepen a nascent banking crisis. Still, rising borrowing costs risk adding to pressures on the financial system that could tip the economy into a recession. The
(Bloomberg) Federal Reserve officials face their biggest challenge in months as they weigh whether to keep raising interest rates this week to cool inflation, or take a pause amid the market turmoil fueled by recent bank failures. Before the collapse of Silicon Valley Bank and the resulting fallout, Fed policy makers were poised to raise rates by as much as 50 basis points after a string of data suggested the economy was much stronger than officials thought at the beginning of the year. Now, given the financial market volatility, many Fed watchers expect a smaller, quarter-point increase, and some say the US central bank will pause altogether after a two-day meeting that starts on Tuesday. The decision follows a 50-basis-point rate hike from the European Central Bank on Thursday. President Christine Lagarde said the ECB remains committed to fighting inflation, while monitoring bank tensions closely. Also highly anticipated from the Fed meeting with be an update to the Summary of Econ