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The Census Bureau reports New Home Sales in February were at a seasonally adjusted annual rate (SAAR) of 662 thousand. The previous three months were revised up slightly. Sales of ...
Federal Reserve Bank of Atlanta President Raphael Bostic reiterated his expectation for one interest-rate cut this year, adding the central bank can afford to be patient as long ...
Thank you, Jason, for your kind introduction. I appreciate the opportunity to return to Harvard and teach the Ec10 class today. When I taught at Harvard, only the most gifted instructors and teaching fellows were allowed to teach and appear before students in this course. It seems today that standards may have slipped, but I am nevertheless honored to be here. I will start by saying what I said at the beginning of every course I taught here and in my entire career as an academic economist. "It is a great time to be an economist!" Economics provides powerful tools for understanding the forces that affect your lives, especially in times of upheaval and change. This is another reason I am delighted to be part of this course that covers a broad range of economic thinking. Today, I will focus my talk on three topics: the Federal Reserve's dual mandate goals for monetary policy, recent indicators of progress toward meeting those goals, and what we call the evolving "balance of risks," which means how the probabilities of missing one of those goals, compared to the other, change over time.1 My main message is that, following a period of unusually high inflation and rapid monetary-policy tightening, inflation has fallen considerably while the labor market has remained strong. As a result of these welcome developments, the risks to achieving our employment and inflation goals are moving into better balance. Nonetheless, fully restoring price stability may take a cautious approach to easing monetary policy over time. Let me add some background here. Congress has given the Federal Reserve's monetary policymakers a mandate and the independence with which to pursue it. The Fed's modern statutory mandate, as described in the 1977 amendment to the Federal Reserve Act, is to promote maximum employment and stable prices.2 These goals are commonly referre post: FED'S COOK: CUTTING TOO SOON COULD RISK INFLATION BECOMING ENTRENCHED. post: #FED GOVERNOR LISA COOK REMARKS IN TEXT OF SPEECH AT HARVARD - BBG *COOK: CUTTING TOO SOON COULD RISK INFLATION BECOMING ENTRENCHED *COOK: CUTTING TOO LATE COULD UNNECESSARILY HARM ECONOMY *COOK: RISKS TO INFLATION, JOB GOALS MOVING INTO BETTER BALANCE *COOK: 'CAREFUL' POLICY…
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At its March meeting, the Federal Reserve kept the fed funds rate in a target range of 5.25%-5.5%. In their Summary of Economic Projections, most members see three rate cuts in ...
Traders are betting the Bank of England could beat its European and US peers to interest-rate cuts, a turnaround from expectations it would be a laggard in 2024. Money markets ...
The major currency pairs like the EUR/USD may be in for a quieter week following last week’s central bank bonanza. Much will depend on whether the US dollar will be able to hold ...
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- Posted: Mar 25, 2024 11:45am
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