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Chicago Fed President Austan Goolsbee said Monday that three rate cuts in 2024 are "in line with my thinking," and that the fundamental story about falling inflation has not changed despite hotter ...
Chicago Fed president Austan Goolsbee says one month of strong jobs and inflation data won't keep the Fed from cutting rates again. Chicago Fed president sees rates falling at 'gradual pace ...
The move means officials have now slashed the Fed’s key benchmark interest rate — the federal funds rate — a full percentage point, bringing the new target rate down to 4.25-4.5 percent.
"Understanding recent fluctuations in short-term interest rates". Chicago Fed Letter. Chicago, IL: Federal Reserve Bank of Chicago. doi: 10.21033/cfl-2019-423. ISSN 0895-0164. Archived from the original on April 17, 2021
The Fed has raised rates 11 times since March 2022 in the most aggressive rate-hiking campaign since the 1980s. While inflation has dropped, it remains around 4% — double the Fed’s inflation ...
The Fed’s 19 policymakers projected that they will cut their benchmark rate by a quarter-point just twice in 2025, down from their estimate in September of four rate cuts.
Year-on-year inflation bottomed at 5% in December 1976 before moving higher once again. Paul Volcker was chosen as Fed Chairman in 1979 in order to deal with the challenge of high inflation. In a rare Saturday press conference on October 6, 1979, [6] Paul Volcker's federal reserve increased the Fed Funds rate from 11% to 12%. [7]
Chicago Fed President Austan Goolsbee said a hotter-than-expected reading on consumer prices doesn't mean the central bank won't be able to cut interest rates in 2024.