Fed’s Bostic Cautious About Rate Hikes as President Biden Blames Higher Price...
As inflation continues to wreak havoc on the lives of ordinary American citizens, all eyes are focused on the U.S. Federal Reserve’s plans to fix the situation. Meanwhile, as the St. Louis Fed president James Bullard wants to aggressively hike the benchmark bank interest rate, Atlanta Fed president Raphael Bostic thinks the central bank needs to use caution. Atlanta Fed President Raphael Bostic: ‘The Fed Needs to Be Cautious as We Move Forward’ The U.S. economy looks bleak after two years of abnormal inefficiencies that have plagued the citizenry’s....
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Federal Reserve governor Christopher Waller has detailed he is ready to get behind 50 bps rate hikes until the extreme inflationary pressures plaguing the U.S. economy subsides. Waller stressed that until inflation is reduced he doesn’t “see the point of stopping” 50 bps rate hikes. Furthermore, statistics from the U.S. Bureau of Economic Analysis show that American savings have plummeted to levels not seen since the ‘Great Recession’ in 2008.
Christopher Waller Advocates for 50 Bps Rate Hikes at Every Fed Meeting Until Inflation Is Under Control....
While the U.S. Federal Reserve ramped up the benchmark bank rate with a barrage of rate hikes, U.S. Treasury markets and global bond markets, in general, have seen one of the worst selloffs in over a decade. The Fed’s actions has fueled criticism toward the U.S. central bank as some strategists believe the onslaught of interest rate hikes could spur illiquidity in the world’s largest bond market. Moreover, a report published on Tuesday, explains that the Fed and foreign central banks worldwide are “losing billions” by paying more interest. The Fed Is Losing Billions The U.S. Federal....
Bitcoin and the rest of the crypto market have been in a festive mood in response to the U.S. Federal Reserve’s interest rate hike, sending both Bitcoin and Ethereum climbing in prices. The Fed’s announcement has sent Bitcoin’s price up by 5%. As of this writing, Bitcoin is trading at $22,837, up 7 percent in the last 24 hours. More so, Ethereum’s price also spiked by 11.6%; hitting $1,550, data from Coingecko show, Thursday. In fact, the entire crypto market is on a positive outlook with the total crypto market cap at $1 trillion. Bitcoin was down the past week with its....
U.S. inflation is red hot and a number of analysts and economists are predicting America will face further economic issues as politicians and the Biden administration blame corporations. This perspective on rising inflation has led finance authors like Isabella Weber to believe that price controls could ease America’s economic burdens.
Biden Administration Blames Inflation on Corporate Greed, Monopolistic Behavior
America is dealing with the worst inflation in over four decades and the White House thinks that tougher anti-monopoly policy could fix the situation.....
The U.S. Federal Reserve raised the federal funds rate by 75 basis points (bps) on Wednesday, and it was the largest increase since 1994. According to the Fed member’s expectations, the central bank will likely add another 1.5 percentage points by the year’s end.
Fed Hikes Rate by 75 bps, Global Markets See Slight Rebound
America’s central bank raised the interest rate by 75 bps on June 15, as it was the highest increase in decades. The last 75 bps rate hike took place during Alan Greenspan’s tenure, as the central bank’s former lead....