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ECB staff macroeconomic projections for the euro area, March 2024
The euro area economy stagnated at the end of 2023 amid tight financing conditions, subdued confidence and past competitiveness losses. Incoming information suggests a slower recovery in the short run than was foreseen in the December 2023 projections. Nevertheless, economic growth is projected to gradually pick up during this year as real disposable income rises, amid declining inflation and robust wage growth, and as the terms of trade improve. With the current shipping disruptions in the Red Sea unlikely to cause significant renewed supply constraints, export growth is expected to catch up with strengthening ... (full story)
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European Central Bank policymakers on Thursday lowered their annual inflation and growth forecasts, as they confirmed a widely expected hold of interest rates. Staff projections ...
post: <EUR=>:*LAGARDE: UNDERLYING INFLATION ISN'T ONLY FIGURE ABOVE 2% *LAGARDE: NOT THERE YET ON HEADLINE INFLATION *LAGARDE: MKT EXPECTATIONS SEEM TO BE CONVERGING BETTER post: ECB’s Lagarde: Strong Expectation Is Framework Completed On March 13 post: ECB’s Lagarde: We're Still In The Holding Season, We'll Move To Restrictiviness Season And Then Normnalisation post: <EUR=>:*LAGARDE: WE HAVE NOT DISCUSSED RATE CUTS FOR THIS MEETING *LAGARDE: WE HAVE JUST BEGUN DIALING BACK OF RESTRICTIVE STANCE *LAGARDE: NOT A QUESTION OF SACRIFICING GROWTH post: ECB'S PRESIDENT LAGARDE: THE ECB WILL ACT INDEPENDENTLY OF WHAT THE FED DOES.
I would like to thank the New Jersey Bankers Association for the invitation to share my thoughts with you today.1 While I welcome the opportunity to share my thoughts about monetary policy, the economy, and the path of regulatory reform, I find it even more valuable to hear your views on local banking and economic conditions in the communities you serve, and your perspectives on trends in bank regulation and supervision. These conversations provide valuable insights to inform my work at the Federal Reserve—both for my understanding of the economy and the banking environment. Before discussing bank regulation, I would like to briefly touch on the economy and monetary policy. Monetary Policy Over the past two years, the Federal Open Market Committee (FOMC) has significantly tightened the stance of monetary policy to address high inflation. At our most recent meeting in January, we voted to continue to hold the federal funds rate target range at 5-1/4 to 5-1/2 percent and to continue to reduce the Federal Reserve's securities holdings. We have seen continued progress on inflation over the past year, with the 12-month readings through January of total and core personal consumption expenditures (PCE) inflation moving down to 2.4 percent and 2.8 percent, respectively, both at the lowest rates we have seen since early 2021. Although inflation declined over the second half of 2023, the January inflation data suggest that progress in bringing inflation down further may be sl post: ? FED GOVERNOR BOWMAN: "NOT YET" READY FOR RATE CUTS, WILLING TO HIKE AGAIN IF NEEDED post: Fed’s Bowman: January Inflation Data Suggests Progress In Lowering Inflation Further May Be Slower Going Forward - Latest Employment Data Shows A Continued Tight Job Market - Current Policy Stance Is Restrictive, Appears 'Appropriately Calibrated' To Reduce Inflation
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The witness will be The Honorable Jerome H. Powell, Chair, Board of Governors of the Federal Reserve System.
post: Fed’s Powell: if Economy Does as Expected We Think Carefully Removing Restrictive Stance of Policy Will Begin Over Course of This Year post: FED'S POWELL Q&A: REPEATS, 'WELL AWARE' OF RISK OF WAITING TOO LONG TO CUT RATES; REPEATS EXPECT EAST 'LATER THIS YEAR' #Powell #FederalReserve #economy post: ? POWELL: SURGE-PRICING WORKS BOTH WAYS, IN SLOW PERIODS PRICES GO DOWN ? POWELL: WE NEED TO GIVE COMPANIES FREEDOM TO SET PRICES post: MORE FED'S POWELL Q&A: REPEATS, HAVE LONGER-TERM HOUSING SHORTAGE; WHEN RATES 'PASS THROUGH' WILL STILL HAVE HOUSING SHORTAGE #Powell #FederalReserve #economy post: Powell: Our Job is to Restore Price Stability That’s What We’re Doing
Layoff announcements in February hit their highest level for the month since the global financial crisis, according to outplacement firm Challenger, Gray & Christmas. The total of ...
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- Posted: Mar 7, 2024 9:48am
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,603