City Powell, county Jerome Financial News

By Howard Schneider

US Federal Reserve will opt to maintain its current interest rates during the meeting on September 19-20 despite persistent inflation levels exceeding the central bank's target range while the US economy remains resilient. The two-day Federal Open Market Committee (FOMC) meeting begins today (September 19) and its outcome is due on Wednesday (September 20). The US Fed has been raising rates since March 2022 and this could be the second time since then that the Fed may maintain a pause on interest rate hikes.

Investing.com — Oil bulls pressed ahead Monday with the momentum they had gained in the past three weeks, closing in on the Saudi wish for triple-digit pricing, as markets awaited the Federal Reserve’s verdict on U.S. inflation creeping again from high energy costs.

On the eve of recessions in 1990, 2001 and 2007, many Wall Street economists proclaimed the U.S. was on the cusp of achieving a soft landing, in which interest-rate increases corralled inflation without causing a recession. Similarly, this summer’s combination of easing inflation and a cooling labor market has fueled optimism among economists and Federal Reserve officials that this elusive goal might be in reach.

By Stella Qiu

After forming successive Doji candlestick patterns on the weekly chart for the past three weeks, Bitcoin (BTC) is on target to end the week on a positive note. This is an early sign that the uncertainty between the bulls and the bears is resolving to the upside.

The Federal Open Market Committee will keep rates steady in the 5.25% to 5.5% range at its Sept. 19-20 meeting, the survey showed, and remain there until a first cut next May – two months later than the economists’ view in July. Policymakers are likely to forecast one additional rate hike this year in the so-called dot plot contained in their quarterly Summary of Economic Projections, as they upgrade their view of the US economic outlook.

Former President Donald Trump complained that interest rates are too high and indicated that if he gets another term in office, he might pressure Federal Reserve Chair Jerome Powell to loosen monetary policy.

The upcoming week will play a pivotal role in shaping the Federal Reserve's outlook for interest rates. In what is expected to be one of the most important Fed policy decisions of the year, the U.S. central bank is widely expected to pause its rate hiking campaign at the conclusion of its FOMC meeting on Wednesday at 2:00 PM ET.

Federal Reserve Chair Jerome Powell swore in three members of the central bank’s governing board Wednesday, including Philip Jefferson as vice chair and Adriana Kugler to fill a vacant seat as the central bank’s first Latina governor

Last Friday, we cautioned that spot gold, which some investors tend to look at more closely than gold futures, could drop beneath $1,915 an ounce or alternatively run above $1,930. 

interest rate unchanged at the end of its Sept. 19-20 policy meeting and probably wait until the April-June period of 2024 or later before cutting it, according to economists in a Reuters poll.Fed Chair Jerome Powell underscored the «higher-for-longer» mantra for rates in a speech at the annual Jackson Hole central banking symposium in August and maintained another rate hike might still be needed to bring inflation down to the 2% target. But other members of the rate-setting Federal Open Market Committee (FOMC), including some of the more hawkish ones, have raised the possibility of holding off on another rate hike to allow more time to gauge the impact of the cumulative 525 basis points of tightening delivered by the Fed since March 2022. More than 95% of economists, 94 of 97, in the Sept.

By Prerana Bhat

US Federal Reserve is done with raising interest rates and will likely to cut them by roughly one percentage point next year, reported the Bloomberg. The latest forecast from the Economic Advisory Committee of the American Bankers Association shows that the US will probably avoid the recession though the economic growth slowdown in coming quarters pushing up unemployment while reducing inflation.

Next week will help determine what the Federal Reserve’s near-term outlook for interest rates will be as the U.S. central bank faces the difficult task of balancing between its ongoing battle to contain inflation and cool the economy without tipping it into a recession.

Federal Reserve governor Philip Jefferson has won confirmation from a majority of members of the United States Senate, placing him in position to become the Fed's next vice chair.

Boston Federal Reserve President Susan Collins on Wednesday advocated a patient approach to policymaking while saying she needs more evidence to convince her that inflation has been tamed.

By Richard Cowan and Ann Saphir

But despite making significant progress, inflation remains above the Fed's long-term target of two percent. Meanwhile, the US jobs market has shown growing signs of softening in recent months, a key precondition for the Fed to contemplate an end to its cycle of monetary tightening. «That was a helluva good week of data we got last week, and the key thing out of it is it's going to allow us to proceed carefully,» Fed governor Christopher Waller said in an interview with CNBC, referring in part to last week's jobs data. «There’s nothing that is saying we need to do anything imminent any time soon, so we can just sit there, wait for the data, see if things continue,» he added. Waller's comments follow a similarly cautious view to Fed Chair Jerome Powell, who told the Jackson Hole economic symposium in Wyoming at the end of August that the Fed would proceed «carefully» from now on. Investors and analysts overwhelmingly expect the Fed to pause its hiking cycle at its next rate-setting meeting on September 19-20, while keeping the prospect of another hike later in the year alive. Futures traders currently put the probability of a rate pause in September at 95 percent, and the chance of another hike in November at around 40 percent, according to data from CME Group. On Tuesday Waller indicated the Fed should keep its options open in the months ahead. «I don’t think one more hike would necessarily throw the economy into a recession if we did feel we needed to do one,» he told CNBC.

Bitcoin (BTC) has been on a bull run for the past six months or so and the market is yet to respond — but it will in around six to 12 months, according to BitMEX co-founder and former CEO Arthur Hayes.

By Jeff Mason