Speaking during an event at Atlanta’s Spelman College, Powell said that the Federal Reserve still isn’t assured that the fight with inflation is over or that inflation will get to the Fed’s target mark of 2%.

“It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance or to speculate on when policy might ease,” Powell said.

According to Powell, the Fed will rely on economic data to determine how to approach interest rate movement.

“Having come so far so quickly, the (Federal Open Market Committee) is moving forward carefully, as the risks of under- and over-tightening are becoming more balanced,” he added.

One thing that seems fairly certain is that the Fed will likely keep the 5.25%-5.50% rate at least until the end of 2024. The rate has been unchanged for the past two meetings, and experts expect it to stay put for the upcoming December meeting as well.

The post Fed Chairman Jerome Powell Says There Will Be No Interest Rate Cuts Soon appeared first on theprimarymarket.com.

During a recent appearance on The Claman Countdown business show, Fink predicted that several more interest hikes are coming.

“I think we’re going to have two to three more rate increases,” said Fink.

According to Fink, the US economy needs higher rates in order to cool down the inflation to the Fed’s prediction of 4%. 

 “The reason why is I believe interest rates need to go higher, especially in the short end, because we have stickier inflation,” he added.

The Fed increased its rates by a quarter percentage point back in March, which brought their policy benchmark in the range of 4.75% to 5%. According to analysts, another hike is expected at the next Fed meeting in May, which could be followed by rate cuts by the end of the year.

However, the Fed’s interest rate policy seems like it could go either way, considering that there is a divide among the Federal Reserve officials. According to a recent report by Bloomberg, while one group of officials is insisting on the continuation of an aggressive policy, some officials are preaching a more moderate and patient approach.

The post BlackRock’s CEO Predicts “Two To Three More Rate Increases” from the Federal Reserve appeared first on theprimarymarket.com.

Speaking during an event at Atlanta’s Spelman College, Powell said that the Federal Reserve still isn’t assured that the fight with inflation is over or that inflation will get to the Fed’s target mark of 2%.

“It would be premature to conclude with confidence that we have achieved a sufficiently restrictive stance or to speculate on when policy might ease,” Powell said.

According to Powell, the Fed will rely on economic data to determine how to approach interest rate movement.

“Having come so far so quickly, the (Federal Open Market Committee) is moving forward carefully, as the risks of under- and over-tightening are becoming more balanced,” he added.

One thing that seems fairly certain is that the Fed will likely keep the 5.25%-5.50% rate at least until the end of 2024. The rate has been unchanged for the past two meetings, and experts expect it to stay put for the upcoming December meeting as well.

The post Fed Chairman Jerome Powell Says There Will Be No Interest Rate Cuts Soon appeared first on theprimarymarket.com.

During a recent appearance on The Claman Countdown business show, Fink predicted that several more interest hikes are coming.

“I think we’re going to have two to three more rate increases,” said Fink.

According to Fink, the US economy needs higher rates in order to cool down the inflation to the Fed’s prediction of 4%. 

 “The reason why is I believe interest rates need to go higher, especially in the short end, because we have stickier inflation,” he added.

The Fed increased its rates by a quarter percentage point back in March, which brought their policy benchmark in the range of 4.75% to 5%. According to analysts, another hike is expected at the next Fed meeting in May, which could be followed by rate cuts by the end of the year.

However, the Fed’s interest rate policy seems like it could go either way, considering that there is a divide among the Federal Reserve officials. According to a recent report by Bloomberg, while one group of officials is insisting on the continuation of an aggressive policy, some officials are preaching a more moderate and patient approach.

The post BlackRock’s CEO Predicts “Two To Three More Rate Increases” from the Federal Reserve appeared first on theprimarymarket.com.