West Texas Intermediate fell 6.8 percent to US$109.56, the largest daily decline since March. Friday, he reaffirmed that the Fed’s primary objective is to return inflation to its 2 percent target. The price of crude oil is still up more than fifty percent this year. Oil prices dropped the most in three months as Federal … Read more
Another 75 basis point increase in interest rates at the next policy meeting in late July. Waller attributed the Fed’s sluggish response to inflation to its December 2020 directive to reduce asset purchases. This week, the yield on 10-year Treasury notes rose 8 basis points to 3.24 percent. Christopher Waller, governor of the Federal Reserve, … Read more
New YouGov survey indicates that Joe Biden is in the worst position of his administration. Biden’s job approval ratings are currently a few points lower than Trump’s were at the same period in his term. Biden’s most recent leads have been inside the margin of error, as is the case for Trump in this poll … Read more
“We’re not trying to induce a recession,” the Fed chairman said while predicting more rate hikes and a slowing economy in the coming months. Unemployment is anticipated to rise to 3.7 percent by the end of 2022, eventually reaching 4.1 percent in 2024. Mr. Powell said he did not expect hikes of three-quarters of a … Read more
