![]() Still, the exact path will depend on how inflation trends compared to risks of a U.S. At the same time, Powell suggested the Fed could hold rates steady at its next meeting in September, as officials assess the incoming data and the evolving. February is likely to bring another small interest rate increase, and another is expected after that. Early 2023 should indicate where that level is and give clues to how long rates will remain there. The Fed has signaled that we are close to a peak level for federal funds. Paramount among them will be the consumer price index reading. ![]() 20-21 Federal Open Market Committee meeting. At that point, we will have more data on how inflation is. There will be an employment report on January 6 that may inform the Fed’s thinking on this. Fed officials will be closely watching the remaining big data points before the Sept. Skipping an August meeting, having met in late July, the Fed’s next scheduled monetary policy meeting takes place on September 20-21. The Federal Open Market Committee FOMC) meeting schedule 2023: January 31-February 1 March 21-22 May 2-3 June 13-14 July 25-26. Some meetings are associated with a Summary of Economic Projections (SEP). 1 to decide on the next interest rate hike. At each meeting, the committee discusses the outlook for the U.S. ![]() Specifically the Fed would prefer the job market to cool somewhat, but not so much that the U.S. The Federal Reserves Federal Open Market Committee (FOMC) will meet for the first time this year on Jan. Of course, the Fed will also monitor a host of other economic news as a gauge of potential recession risk for the U.S. The Fed will also be tracking wage growth, in the hope that it is trending lower, implying easing services inflation. Within these reports, the Fed will be closely watching services inflation for signs that it is easing. Inflation nowcasts from the Cleveland Fed imply relatively subdued inflation numbers overall, but this may be driving by falling energy costs whereas the Fed’s preferred core inflation metrics could come in higher once food and energy prices are removed.
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