The rate hikes are coming! The rate hikes are coming! Eventually. Days after the Federal Reserve seemed to sound the alarm that the era of near-zero interest rates is ending, Chairman Ben Bernanke tempered those expectations a bit this week.
Mark Norman Francis/GettyAs the arbiter of monetary policy for the largest economy in the world, the Federal Reserve is usually thought of as having a pretty solid grasp on all things economic.
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It was just two days ago when we observed that during the latest Fed matinee, none other than Goldman's Jan Hatzius presented a slide deck suggestively titled "Hiking Rates in the Name of Financial Stability."
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(WASHINGTON)— Federal Reserve Chair Janet Yellen said the U.S. economy faces a number of global threats that could derail growth and compel the Fed to slow the pace of future interest rate hikes.
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(WASHINGTON)— Federal Reserve Chair Janet Yellen said the U.S. economy faces a number of global threats that could derail growth and compel the Fed to slow the pace of future interest rate hikes.
WASHINGTON: The Federal Reserve hiked interest rates for the first time in nearly a decade on Wednesday, signaling faith that the US economy had largely overcome the wounds of the 2007-2009 financial crisis. The US central bank's policy-setting committee raised the range of its benchmark interest rate by a quarter of a per centage point to between 0.25 per cent and 0.50 per cent, ending a lengthy debate about whether the economy was strong enough to withstand higher borrowing costs.
The ECB did the unexpected today, cutting the interest rate to .25% from .50%.
Here is the ECB press release.
7 November 2013 - Monetary policy decisions
At today’s meeting the Governing Council of the ECB took the following monetary policy decisions: