Bank of England’s Breeden Plays Down Market Moves, Backs More Rate Cuts

post: FED'S BARKIN: THE CONSUMER DEBT BURDEN IS STILL WELL BELOW 2018-2019. post: FED'S BARKIN: THE LACK OF FISCAL SPACE IS A RISK FOR FUTURE RECESSIONS. post: FED'S BARKIN: I THINK THE TERM PREMIUM IS MOVING LONG RATES, NOT INFLATION.

post: FED’S SCHMID: INTEREST RATE POLICY MAY BE NEAR WHERE IT NEEDS TO BE FOR THE LONGER RUN. post: FED’S SCHMID: ANY FURTHER RATE CUTS SHOULD BE GRADUAL AND DATA-DRIVEN. post: FED’S SCHMID: THE FED IS PRETTY CLOSE TO MEETING BOTH OF ITS MANDATES. post: FED'S SCHMID: I WANT THE FED TO SHRINK THE BALANCE SHEET FURTHER.

Let me begin by recognizing the devastation caused by the fires in the Los Angeles area. My thoughts and prayers are with those who have been impacted and the first responders who are fighting to bring the fires under control. I would like to thank the California Bankers Association for the invitation to speak to you today. I appreciate the opportunity to reflect on the past year, on both the path of monetary policy and the economy and on how this past experience can inform the bank regulatory agenda as we look ahead to a new year. In light of the policy decisions at the last few Federal Open Market Committee (FOMC) meetings, I will begin by providing some perspective on my votes and then discuss my current views on the economy and monetary policy. post: FED'S BOWMAN: WE SHOULD BE CAUTIOUS IN CONSIDERING CHANGES TO POLICY RATE || BOWMAN SAYS SHE SUPPORTED DECEMBER RATE CUT AS 'FINAL STEP' IN POLICY RECALIBRATION post: BOWMAN: CURRENT STANCE OF POLICY MAY NOT BE AS RESTRICTIVE AS OTHERS MAY SEE IT || INFLATION CONCERNS MAY PARTLY EXPLAIN RISE IN 10-YEAR TREASURY YIELD || INFLATION ELEVATED, SEE UPSIDE RISKS, PROGRESS HAS STALLED