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(Bloomberg) Federal Reserve Bank of Chicago President Austan Goolsbee said policymakers shouldn’t place too much weight on the traditional economic idea that steep job losses are needed to quell inflation, which he said could lead officials to raise interest rates too high.Most Read from BloombergElon Musk Wins US Space Force Contract for StarshieldChina Puts Evergrande’s Billionaire Founder Under Police ControlPakistan Rupee Set to Become Top Performing Currency Globally Peloton Soars After ....
(Bloomberg) Federal Reserve Chair Jerome Powell made clear Wednesday the central bank is close to done raising interest rates, but his colleagues delivered the message that resonated: Borrowing costs must remain higher for longer amid renewed strength in the economy.Most Read from BloombergVegas’ Newest Resort Is a $3.7 Billion Palace, 23 Years in the MakingFed Set to Pause Rate Hikes, But Don’t Count Out Another IncreaseStocks Fall as Yields Rise on Fed’s ‘Hawkish Skip’: Markets WrapTrudeau’ ....
The Federal Reserve kept interest rates steady Wednesday, holding off on another increase despite two consecutive months of accelerating inflation. The Federal Open Market Committee (FOMC), the panel of Fed officials responsible for setting interest rates, said Wednesday it will keep the bank’s baseline borrowing costs at a range of 5.25 percent to 5.5 percent.… ....
The Federal Reserve held steady on Wednesday in its battle against inflation while signaling that another interest rate could be coming later this year and rates could stay higher for longer than some analysts expect. The Federal Open Market Committee announced that it would maintain its benchmark interest rate in a range between 5.25% and 5.50%. But a majority of committee members (12 of 19) said they expect to raise rates again this year, and projections for next year show that committee membe ....
Central bank watchers expect the Fed this week to pause its rate hikes while still striking a 'stern, resolute tone' in the fight to cool inflation. ....