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Welcome to the St. Louis Fed and to the 34th Homer Jones Memorial Lecture. Thank you for joining us this evening. The Homer Jones Memorial Lecture has featured many distinguished speakers over the years. Today is no exception. Before I introduce our speaker, I want to share about the person for whom this lecture is named. Homer Jones was a transformational ...

While the FIFA World Cup provided a tourism boost to host cities, its positive impact was mitigated by economic weakness seen elsewhere, according to a Federal Reserve report released Wednesday. The soccer tournament, which the U.S. co-hosted, has fetched median admissions prices topping $900, according to TicketData. Yet the latest edition of the Fed’s ...

video Jim Bullard has been there, done that more than once when it comes to steering the U.S. economy through some of its most severe challenges. Jim over as president of the Federal Reserve Bank of St. Louis in 2008, after working for many years as an economist and then its deputy director of research, just as the U.S. economy was sliding into the Great ...

Trump on Fed: It is better to pause rates than to raise them. *TRUMP: WOULD LIKE TO SEE INTEREST RATES GO DOWN Trump: I think inflation at the year-end will be lower than it is now. Trump: I wish I could use tariffs faster. Trump: Oil price will yo-yo for a while.

On Monday, in a speech at the New York Association for Business Economics, Federal Reserve Governor Christopher Waller discussed the U.S. economic outlook and the implications for “monetary policy at a crossroads.” His remarks were more hawkish than many observers expected. Indeed, he’s the first voting member of the Federal Open Market Committee (FOMC) to ...

Economic activity increased at a slight to moderate pace in eleven of twelve Federal Reserve Districts in late May and June, while one District reported no change. The pace of growth was quite close to that of last period, when activity expanded in ten Districts, was flat in one, and down in one. Consumer spending edged up as higher prices, particularly for fuel, dampened sales in other categories. Several Districts noted declines in spending on discretionary items or trading down to more affordable varieties. Tourism was up, with some Districts receiving a boost from World Cup visitors. Auto dealers reported little change in sales, but spending on repairs grew as consumers held onto vehicles for longer. Agricultural conditions deteriorated due to lower commodity prices, higher input costs, and tighter credit. In the energy sector, oil and gas drilling increased. Manufacturing production grew modestly to moderately in most Districts, led by stronger orders from the data center, machinery, and defense sectors. Manufacturers in several Districts said supply chain issues were more common. Construction and real estate activity increased slightly overall, with several Districts noting growth in data center building. Financial conditions were stable on net, and commercial and consumer loan volumes were both up modestly. Commercial loan quality was stable, but consumer loan quality ticked down. Transportation activity increased modestly amidst ongoing supply chain changes related to higher tariffs and the conflict in the Middle East. Overall, activity in other service industries also was up modestly, with Districts highlighting growth in health care and professional services. Social service providers were Fed Beige Book: Contacts generally expected the economy to continue to expand in the coming months, but several districts noted elevated uncertainty in the outlook for fuel costs. Beige Book: "Economic activity increased at a slight to moderate pace in eleven of twelve Federal Reserve Districts in late May and June, while one District reported no change" Fed Beige Book: Employment rose on balance, with five districts showing modest, moderate, or solid gains in employment, and with seven districts experiencing little to no change. Just in | The latest Fed Beige Book reveals moderate price increases across nine districts, robust growth in two, and slight growth in one, with overall price growth remaining steady or slowing compared to the previous reporting period.

Fed's Cook: It is prudent to wait ‘a bit more time' for inflation to slow, but she is prepared to act if it does not occur 'soon'. Fed's Cook: Since last summer there has been a notable shift in risk towards higher inflation and away from the job market, which appears stable. Economic Outlook Thank you, Paul, for that kind introduction. I am honored to speak with you and all who have joined us here today.1 Persistently elevated inflation imposes an unacceptable burden on American families, and it is the Federal Reserve's responsibility to restore price stability. As a monetary policymaker, this challenge is top of mind for me. I am watching both sides of our dual mandate—price stability and maximum employment. However, as I have stated at several points this year, the risks from high inflation concern me more at this time.2 Even though this week's consumer price index and producer price index reports were softer than expected, they still imply that the price index we target rose 3.7 percent in the 12 months through June. That is 1.7 percentage points above our 2 percent target. We have not reached our 2 percent target in more than five years. To contextualize my views on the dual mandate, I would like to give you a broader sense of my economic outlook and discuss recent developments in monetary policy.

Federal Reserve Bank of New York President John Williams said interest rates are "well positioned" even as demand driven by artificial intelligence puts upward pressure on inflation. "I am confident that these investments will support strong productivity growth in coming years. But, right now, we're in a race between available supply and surging demand," ...

ECB's Moulin: ECB needs to be ready for any eventuality on inflation.

Prices paid by businesses last month fell, largely because the pressures from soaring gasoline prices eased. The producer price index for total final demand declined 0.3% in June, bringing annual growth to 5.5%, the Bureau of Labor Statistics reported on Wednesday morning. That’s the first monthly decline in the index since wholesale inflation unexpectedly ...