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Feb 22, 2023
02/23
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jim bullard was with us saying the american economy is stronger than previously thought. he used walmart's fourth quarter results from yesterday morning, as he said was an example of the country getting on the road towards timing high inflation. >> consumers are trading down, they're benefiting, that's what i heard. that sounds like a disinflationary process. >> you're happy? >> that's how the disinflation will occur. >> bullard says he thinking the u.s. can see disinflation along with a strong economy at the same time. meantime coinbase shares are lower following the fourth quarter results, revenues coming in, but still fell almost 75% year over year, going to a non-adjusted net loss. trading activity has dried up. here's how ceo brian armstrong addressed the environment on the company's call last night. >> it tense to flip every two years, either irrational exuberance or despair. neither one is true at any one time that also means there's an opportunity for builders focused in the space so if you take where we are and just compare it to betweeniers. >> we'll have a chan
jim bullard was with us saying the american economy is stronger than previously thought. he used walmart's fourth quarter results from yesterday morning, as he said was an example of the country getting on the road towards timing high inflation. >> consumers are trading down, they're benefiting, that's what i heard. that sounds like a disinflationary process. >> you're happy? >> that's how the disinflation will occur. >> bullard says he thinking the u.s. can see...
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Feb 17, 2023
02/23
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there was a comment from jim bullard bullard that got my attention. he says he has pushed back against the idea of long invariable lags. he thinks it is not the 50's, 60's, 70's anymore. let's see if the minutes are the stage for that debate to play out with more color. lisa: what is the readthrough to markets? are stocks pricing in the sense the fed may have to go beyond 5.25%? that is the unknown. jonathan: if brian levitt has to wait any longer he might have nothing more to say. equity futures down .8%. in the bond market yields are higher by four basis points. 3.90 on the 10 year is a phenomenal turnaround. at a two year higher by six basis points. we are through 4.70 on the two year. that is a new high for 2023. lisa: and all of this fed speak responding to the data. let's talk about the fed speak today. we will hear from the richmond fed president tom barkan as well as fed governor michelle bowman. do they read rate this hawkish feel? do they talk about 50 basis point hikes back on the table? the munich conference beginning in germany. we will h
there was a comment from jim bullard bullard that got my attention. he says he has pushed back against the idea of long invariable lags. he thinks it is not the 50's, 60's, 70's anymore. let's see if the minutes are the stage for that debate to play out with more color. lisa: what is the readthrough to markets? are stocks pricing in the sense the fed may have to go beyond 5.25%? that is the unknown. jonathan: if brian levitt has to wait any longer he might have nothing more to say. equity...
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Feb 27, 2023
02/23
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jim bullard said the fed has to worry about losing its credibility and good. to get those rates up fast. let's listen. >> reestablish credibility now. sometimes i use the phrase more game theory, less econometrics. you want the establishment of the credibility. there is a certain amount of demonstration to markets if you move quickly. >> as for the study, funds rates will have to be at 6.5%. that is a good bit higher than the markets priced in. especially at 6.5%. they doubt the fed can engineer a soft landing where inflation gets back to 2% by the end of 2025. i think a lot of people say maybe that is not a big surprise. they are actually seeing some things -- people who have been doubting inflation for the longest time say it would be easier for the funds rate to peak at 6.5%. it puts a lot more of an interesting light on the march meeting. are they going to stay at 25? do they think 50 would be a good idea again? >> the european central bank will raise interest rates as high as necessary to bring inflation back down to 2%. the governing council member empha
jim bullard said the fed has to worry about losing its credibility and good. to get those rates up fast. let's listen. >> reestablish credibility now. sometimes i use the phrase more game theory, less econometrics. you want the establishment of the credibility. there is a certain amount of demonstration to markets if you move quickly. >> as for the study, funds rates will have to be at 6.5%. that is a good bit higher than the markets priced in. especially at 6.5%. they doubt the fed...
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Feb 17, 2023
02/23
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>> would he start with what you mentioned first, fed higher for longer jim bullard and mester making it clear a 50-point rate hike is back on the table for next month. steve liesman has the details. >> hawkish speech yesterday, braces for an onslaught of speeches next week more than a quarter of the fed committee is scheduled to take the podium to talk about the economy, along with minutes from the february meeting cleveland fed president loretta mester and st. louis' jim bullard said they supported a half-point hike at the february meeting and wouldn't rule one out for the next one all of this effect in the fed fund futures market has moving the pricing for peak rate. to bring the year-end pricing almost directly now in line with the fed's own average forecast of 5.13. next week we have new york fed president williams on wednesday. collins from boston, mester from cleveland, and jefferson and fed governor waller. they'll be in new york city on friday we have the chicago -- university of chicago school's monetary policy coming up. the comments of mester and bullard show the fed is no
>> would he start with what you mentioned first, fed higher for longer jim bullard and mester making it clear a 50-point rate hike is back on the table for next month. steve liesman has the details. >> hawkish speech yesterday, braces for an onslaught of speeches next week more than a quarter of the fed committee is scheduled to take the podium to talk about the economy, along with minutes from the february meeting cleveland fed president loretta mester and st. louis' jim bullard...
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Feb 23, 2023
02/23
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headlines >> choppy trade after the central bank is determined to bring inflation back to target jim bullard says the fed is still ready to act >> our risk is inflation doesn't come down or re-accelerates and then we have to move. >>> and russia raises the possibility of boosting nuclear forces u.s. treasury secretary janet yellen flags key aid for ukraine. >> making it possible in the coming months where we expect to provide $10 billion in additional economic support for ukraine. >>> b9 leaders vow to shore up the eastern flank as sweden and finland push for membership. >> together with finland and also have a joint application for nato we are looking to get into the alliance and we can provide this to the allalliance we have assets to make nato stronger. >>> accor beats profits after the strong december with revenue above pre-pandemic levels. the cfo tells cnbc the rebound is ongoing >> we see more people over weekend staying for personal reasons. do so-called pleasure. we have capabilities to basically get the people to do that activity. working from the hotel >>> we are over an hour into
headlines >> choppy trade after the central bank is determined to bring inflation back to target jim bullard says the fed is still ready to act >> our risk is inflation doesn't come down or re-accelerates and then we have to move. >>> and russia raises the possibility of boosting nuclear forces u.s. treasury secretary janet yellen flags key aid for ukraine. >> making it possible in the coming months where we expect to provide $10 billion in additional economic support...
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Feb 1, 2023
02/23
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leaving this year jim bullard of st.er george of kansas city, loretta mester of cleveland and boston's susan collins. all except collins are considered hawkish. coming in, the new president of the chicago fed, austin goolsb y, patrick harker, minneapolis president and all are considered dovish or somewhat centrist. there is little difference between the views. 17 of the 19 members saw the fed's target rate reaching over 5% by the end of this year. and nine c rate cuts in 2023. the voters change, but the policy remains the same. francine: that was michael mckee on who's in and he was out of the fomc. we have a great decision day guide on our website. we will push that out on our social media channels. the federal reserve likely pushing back against any suggestion it will halt interest rate increases. that is the view of jeffrey gundlach. we had a lot of time with him yesterday, interesting to see how he sees traders positioning in terms of dollar until the end of the year. the other big story is the budget in india. prime
leaving this year jim bullard of st.er george of kansas city, loretta mester of cleveland and boston's susan collins. all except collins are considered hawkish. coming in, the new president of the chicago fed, austin goolsb y, patrick harker, minneapolis president and all are considered dovish or somewhat centrist. there is little difference between the views. 17 of the 19 members saw the fed's target rate reaching over 5% by the end of this year. and nine c rate cuts in 2023. the voters...
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Feb 17, 2023
02/23
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jim bullard saying he would not rule out a 50 basis point hike at the meeting in march. cleveland's loretta mester says it could raise up to 25 basis points both support a hike at the meeting this month the cpi suggested more inflation pressure up the pipeline that could make its way to the consumer and joining the cpi on tuesday and showing inflation not coming down as fast as expected that with the retail sales re reports, the markets are expecting the fed would be done in may fed funds future is a 53% of th rate hike. that is pointing to a rethink about how weak the first quarter gdp would be in january, cnbc forecasters saw a 0.2% outlook that number is now 1.5% and some at 2%. a 50 basis point hike is a possible response, officials seem likely to use quarter point hikes from here on out to allow them to move more slowly in response to the data and take a count of the risk of overtightening and the policy lags to the economy. steve liesman, cnbc business news. >>> tesla is reporting 362,000 vehicles across the u.s. and musk refer they did not use that word regulators
jim bullard saying he would not rule out a 50 basis point hike at the meeting in march. cleveland's loretta mester says it could raise up to 25 basis points both support a hike at the meeting this month the cpi suggested more inflation pressure up the pipeline that could make its way to the consumer and joining the cpi on tuesday and showing inflation not coming down as fast as expected that with the retail sales re reports, the markets are expecting the fed would be done in may fed funds...
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Feb 24, 2023
02/23
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the san francisco fed president jim bullard said a soft landing as possible due to the fed's inflationbility. how credible our central banks right now? >> credibility is utmost on their minds. the last thing central banks want now is a dis-anchoring of inflation expectations. there is been generations of people that have not seen these kinds of rates. will this be something they factor into wage demands or not? certainly talking tough by central banks will be part of the game. at the same time over tightening is also something central banks will ultimate he to avoid. how much can you rely on forecasts when there could be a regime change on inflation expectations? that is something that will simply have to be seen as the data evolves. data dependency will be key. >> thank you for stopping by sandra horse field -- horsfield. european equity markets closer the week. lower during the auction, down towards session lows. the ftse 100 down by four -- .4% up by 29 points. the dax and cac are down by 1.7 maybe 1.8%, nearly 2% on the day. this is largely an effect we have seen as an effect of th
the san francisco fed president jim bullard said a soft landing as possible due to the fed's inflationbility. how credible our central banks right now? >> credibility is utmost on their minds. the last thing central banks want now is a dis-anchoring of inflation expectations. there is been generations of people that have not seen these kinds of rates. will this be something they factor into wage demands or not? certainly talking tough by central banks will be part of the game. at the same...
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Feb 16, 2023
02/23
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louis fed president jim bullard.to the latest economic data and what it means for the fed and the market, there is a lot to digest, stick with us, this is bloomberg. ♪ ♪ we all have a purpose in life - a “why.” maybe it's perfecting that special place that you want to keep in the family or passing down the family business or giving back to the places that inspire you. no matter your purpose, at pnc private bank, we will work with you every step of the way to help you achieve it. so let us focus on the how. just tell us - what's your why? the eagle has landed. that's one small so let step for man... how. hey, what's up? uh... houston... we have a situation. how did you get here? you're characters in our video game! video game? yeah, it's what we do with xfinity 10g. it's like, you know, the best network imaginable. what the heck is that? those are the bad guys. are they friendly? the 10g network, only from xfinity. one giant leap for mankind. (announcer) enough with the calorie counting, carb cutting, diet fatigue, an
louis fed president jim bullard.to the latest economic data and what it means for the fed and the market, there is a lot to digest, stick with us, this is bloomberg. ♪ ♪ we all have a purpose in life - a “why.” maybe it's perfecting that special place that you want to keep in the family or passing down the family business or giving back to the places that inspire you. no matter your purpose, at pnc private bank, we will work with you every step of the way to help you achieve it. so let...
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a jim bullard dollar global struct push love all abolish procedure low. you push law this, the humiliation or for women is awful. who question come. he realizes that bill or ross is change and there some people i change and, and of course it threatens him a lot because he, for 27 years he built. but across in our conference he was sure that nobody will dare to how to say to live to the head up. yeah. will starla mall jack? yeah. was bella by? yes, son. oh, a with oh, if you fight for democracy you or do you mean places going might important places old. ah. especially european institutions like to do the deluxe and the out prices or consolation or support. but i wonder if they really stand up. will you take action for democratic writes, you up their comfort for freedom? and if those awards will help with that? well, sometimes yes. corporate mission, ions, offices provide democratic christ decala the belief that it is at least possible to cooperate to some degree even with dictators like lucas jenko may perhaps have made us too slow to access with respect t
a jim bullard dollar global struct push love all abolish procedure low. you push law this, the humiliation or for women is awful. who question come. he realizes that bill or ross is change and there some people i change and, and of course it threatens him a lot because he, for 27 years he built. but across in our conference he was sure that nobody will dare to how to say to live to the head up. yeah. will starla mall jack? yeah. was bella by? yes, son. oh, a with oh, if you fight for democracy...
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Feb 22, 2023
02/23
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jim bullard speaking this morning to address concerns around higher rates.t he said >> we still haven't gotten to the point where the committee put the so-called terminal rate -- i don't think you should call it a terminal rate. but get to that level and people your way around and see what you need to do. >> i've said that the 5 and 3/8 would be a good number to shoot for. i think that would be good for the current situation and from there we can react to the data, i don't know what's going to happen in the second half. i think that markets have overpriced a recession in the second half of 2022 and overpriced a recession in the first half of 2023 maybe they're overpricing the chances of recession in the second half of 2023. you have china coming on board, a stronger europe than we thought. it kind of seems like the u.s. economy might be more resilient than markets thought let's say six or eight weeks ago >> two weeks ago, guys, i think that bullard saying a terminal rate of 5.3% would have spooked the market today, market is shrugging it off. because there's
jim bullard speaking this morning to address concerns around higher rates.t he said >> we still haven't gotten to the point where the committee put the so-called terminal rate -- i don't think you should call it a terminal rate. but get to that level and people your way around and see what you need to do. >> i've said that the 5 and 3/8 would be a good number to shoot for. i think that would be good for the current situation and from there we can react to the data, i don't know...
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Feb 16, 2023
02/23
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then jim bullard and lisa cook will be speaking this afternoon.ere will be a hearing for new bail terms for sam bankman-fried. alix: thank you for joining me the last couple days. i will be with you tomorrow. coming up, the former u.s. ambassador to israel be -- will be joining david wallace. this is bloomberg. get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management. >> from bloomberg world headquarters in new york to television and radio audiences worldwide, balance of power. oversees further developments between the united states and china. china announced sanctions against a couple u.s. firms over the shooting down of various high-altitude aircraft. we are
then jim bullard and lisa cook will be speaking this afternoon.ere will be a hearing for new bail terms for sam bankman-fried. alix: thank you for joining me the last couple days. i will be with you tomorrow. coming up, the former u.s. ambassador to israel be -- will be joining david wallace. this is bloomberg. get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make...
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Feb 17, 2023
02/23
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louis fed president jim bullard and cleveland's fed president have both made the case for hikes month. >> at this juncture, the incoming data has not changed my view that we need to bring the fed rate under 5% and hold it there for some time. indeed at our meeting two weeks ago setting aside the financial market participant -- what they expected us to do son economic case for a 50 basis point increase which would have brought the top of the range to 5%. >> i think we can lock in this disinflationary trend buying continuing -- by continuing to have policy rate increases through 2023 even though the real economy looks like it is going to continue to grow and the labor market broadly across the country looks like it will remain strong. francine: for more on the markets, we are joined by christina. i have many questions on the ecb and isabel schnabel and other things. the fed has two hawkish members. why is a market shifting on the back of those comments? kristen: despite the fact that both are voters as year, they are very influential voices when it comes to swaying the vote and the fomc
louis fed president jim bullard and cleveland's fed president have both made the case for hikes month. >> at this juncture, the incoming data has not changed my view that we need to bring the fed rate under 5% and hold it there for some time. indeed at our meeting two weeks ago setting aside the financial market participant -- what they expected us to do son economic case for a 50 basis point increase which would have brought the top of the range to 5%. >> i think we can lock in...
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Feb 17, 2023
02/23
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some people to stop speaking -- and changing their minds literally on a weekly basis, whether it's jim bullardrry summers, whoever we've spoken about in the past larry said the fed is going to hit the brakes hard. a week before that, inflation was going to accelerate. i think there are officials and ex-officials are speaking far too much in an environment we don't know quite enough about. i'll admit i was wrong to an extent on inflation insofar it's stickier in shelter, stickier in services it's not coming down fast enough i think everybody is putting their finger the wind and making comments that probably don't make sense in this environment. >> i wonder if we need a vixx of fed speak. >> exactly. >> when the fed speak starts to get erratic, is that itself telling us something about being in a turning point >> i think that may be part of the point. they're also kind of in quicksand. the fed's credibility is on the line jerome powell is still suffering from his transitory comments in 2021 if the fed decides, hey, let's go ahead, we went back to 25 basis points let's go back to 50 this meeting,
some people to stop speaking -- and changing their minds literally on a weekly basis, whether it's jim bullardrry summers, whoever we've spoken about in the past larry said the fed is going to hit the brakes hard. a week before that, inflation was going to accelerate. i think there are officials and ex-officials are speaking far too much in an environment we don't know quite enough about. i'll admit i was wrong to an extent on inflation insofar it's stickier in shelter, stickier in services...
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Feb 16, 2023
02/23
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louis fed president jim bullard saying he can't rule out a 50 basis point rate hike at the upcoming marchand he said he advocated for one at the last meeting as well i'll read you other comments on the wire here from reuters he sees a policy rate in the range of 5.25 to 5.5% as appropriate. he has been at that level, a quarter point above the average. he does see the drop in long-term yields as confidence that the fed will fall -- the inflation will fall and less need for inflation -- sorry, inflation premium inside a fed rate hike. he's the second person, sara, to kind of advocate for this and to acknowledge he advocated at the last meeting saying the federal reserve can accelerate rate hikes if necessary. not much impact in the bond market which, as we've been reporting, has already started to think about the idea of an extra quarter point going into june or down to 25 the stock market did fall off on this news the last i looked, sara, 20 points to the down side for the s&p 500. >> is he a voter this year i knknow mester is not >> reporter: jim was a voter last year, sara, if i'm not mi
louis fed president jim bullard saying he can't rule out a 50 basis point rate hike at the upcoming marchand he said he advocated for one at the last meeting as well i'll read you other comments on the wire here from reuters he sees a policy rate in the range of 5.25 to 5.5% as appropriate. he has been at that level, a quarter point above the average. he does see the drop in long-term yields as confidence that the fed will fall -- the inflation will fall and less need for inflation -- sorry,...
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Feb 24, 2023
02/23
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maybe in the jim bullard camp and you think, there's no more lags anymore, which to me is a complete nutty assertion because we know there's going to be $10 trillion of private sector debt rolling over this year into a perniciously higher interest rate environment so, i'm not willing to bet against the historical record. i think the hard landing starts in q2 or q3. it's really a matter of when, it's not a matter of if. i don't think anybody is that clever to know exactly what day, week, month or quarter it's going to start but to say - >> your point -- >> to say we're going to have no landing -- >> yeah, you hate that. >> one of the most aggressive fed tightening since 1981 and an inverted yield curve to me is a ridiculous notion. >> i think your point about the lagging indicators versus coincident and leading indicators is one we don't hear made that much it's interesting where does inflation fall on that spectrum? if we really were headed toward a hard landing, david, wouldn't we see a more meaningful decline in the inflation rate? haven't you been surprised to see how stubbornly h
maybe in the jim bullard camp and you think, there's no more lags anymore, which to me is a complete nutty assertion because we know there's going to be $10 trillion of private sector debt rolling over this year into a perniciously higher interest rate environment so, i'm not willing to bet against the historical record. i think the hard landing starts in q2 or q3. it's really a matter of when, it's not a matter of if. i don't think anybody is that clever to know exactly what day, week, month...
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Feb 22, 2023
02/23
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louis fed president jim bullard on squawk this morning talked about the mismatch between the marketshe fed when it comes to a recession outlook. >> markets have overpriced a recession in the second half of 2022, and overpriced a recession in the first half of 2023. maybe they're overpricing the chances of a recession in the second half of 2023. you have china coming onboard. you have a stronger europe than we thought it kind of seems like the u.s. economy might be more resilient than markets thought let's say, six or eight weeks ago. >> joining us this morning, former federal reserve vice chair, richard clarida, currently managing director at pimco. richard, it's so great to have you. i was just looking at your blog post today, in which you say, markets are finally listening to the message they've been getting for months although you add, the fed has already done most of the heavy lifting they'll need to do before they pause later this year does that sort of match up with what at least the market heard from bullard today >> i think so. you know, we've had this tug-of-war since last s
louis fed president jim bullard on squawk this morning talked about the mismatch between the marketshe fed when it comes to a recession outlook. >> markets have overpriced a recession in the second half of 2022, and overpriced a recession in the first half of 2023. maybe they're overpricing the chances of a recession in the second half of 2023. you have china coming onboard. you have a stronger europe than we thought it kind of seems like the u.s. economy might be more resilient than...
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Feb 22, 2023
02/23
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it was more than jim bullard who said that they had argued in favor of 50 basis points at the last meeting. even so, investors are looking for 25 basis point hikes, three in a row, march, may, june meetings. it makes them realize they will move rates higher than the market stop. >> we are getting video of john williams speak and at the moment. he says inflation will return to the target over the next few years. he's making remarks and moderated q&a session. the fed not the only thing in focus. the bank of korea is expected to hold. >> they are getting more worried about the economy. they were early rate hikers. but now they are getting the feeling they have to slow down more. they will keep their key rate to 3.5%. one thing they have to watch of courses inflation because inflation is up 5.2% year-over-year. this is something they are watching, however the last meeting, there were two members of the board who dissented against the rate hike. now, the economy is showing were some signs. you have exports slumping, housing getting a lot weaker, slower spending. on that year-over-year, it was u
it was more than jim bullard who said that they had argued in favor of 50 basis points at the last meeting. even so, investors are looking for 25 basis point hikes, three in a row, march, may, june meetings. it makes them realize they will move rates higher than the market stop. >> we are getting video of john williams speak and at the moment. he says inflation will return to the target over the next few years. he's making remarks and moderated q&a session. the fed not the only thing...
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Feb 16, 2023
02/23
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around 1:30, jim bullard spoke and he said he joined her in his push for 50 basis points at the last meeting. he wants to get the key rate up to 5.4% as soon as possible. he is not ruling out supporting a 50 basis point hike in march. the story from mitch miller today talking about how the amount of hikes that are going to be needed the number will be higher not only that what the market is expected but also what the fed expected. let's talk about the numbers that might support this idea that maybe the fed will have to go higher and stay there longer. u.s. producer prices the biggest gain since june on the month up 0.7%. expected .4% in the markets. year-over-year 6%. those numbers are moving in the wrong direction. i love this chart showing you that there were some negative months of producer prices. we see goods prices broadly rising again. that must worried the fed because they were coming down. wholesale prices they translate to the cpi. finally jobless claims new claims for unemployment benefits stay very low. they went down to 194,000. anything below 200,000 is well below the a
around 1:30, jim bullard spoke and he said he joined her in his push for 50 basis points at the last meeting. he wants to get the key rate up to 5.4% as soon as possible. he is not ruling out supporting a 50 basis point hike in march. the story from mitch miller today talking about how the amount of hikes that are going to be needed the number will be higher not only that what the market is expected but also what the fed expected. let's talk about the numbers that might support this idea that...
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Feb 1, 2023
02/23
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leaving jim bullard the st. louis. george of kansas city,, and cleveland and boston susan collins.collins are considered hawkish. coming in the new president of chicago fed, austan goolsbee, philadelphia's patrick harker and dallas's lori logan and minneapolis's neel kashkari. all are considered dovish or somewhat centrist. there is a distance between the views of the hawks and doves on the fed's open market committee. 17 of the 19 members saw the fed 's target rate reaching over 5% by the end of this year. and one -- n one see rate cuts in 2023. the voter change but the policy remains the same. rishaad: all right. let's have a look at the first word news now with -- pulling off a $2.5 billion sale for his flexure company thanks to a surge in business. fully subscribed on the final day. mainly by institutional investors. meanwhile adani is said to put up $300 million to maintain collateral cover for a $1 billion loan from banks including barclays. last week's system glinch is triggering thousands of damage is claims. sources say the likes of charles schwab and citadel exhibitor req
leaving jim bullard the st. louis. george of kansas city,, and cleveland and boston susan collins.collins are considered hawkish. coming in the new president of chicago fed, austan goolsbee, philadelphia's patrick harker and dallas's lori logan and minneapolis's neel kashkari. all are considered dovish or somewhat centrist. there is a distance between the views of the hawks and doves on the fed's open market committee. 17 of the 19 members saw the fed 's target rate reaching over 5% by the end...
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Feb 21, 2023
02/23
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louis fed president jim bullard. >> i don't like to stack them like that. >> one is the president and other is a vice president. >> former vice president >> yes >> former vice president good point. >> we heard from brian moynahan in davos where he said if you look at credit cards and bank accounts, the consumer is still flush. seemed to indicate, i thought, as you get into the summer months and potentially farther along, it gets more complicated. the question is do you think those predictions are still true of the health of the consumer? you talk about more debt racked up, but the savings rate at the same time. >> andrew, it is interesting the banks have the data and they are making it semi public. bank of america is behind. you know, these guys have incredible visibility. they see how much is coming in and where it's going they can tell us how much is going to 401(k) which is down in the recent report i saw. so i would believe what brian is saying he is seeing the flowing in front of him and making public what he is seeing. that is really important right now, i don't know what will h
louis fed president jim bullard. >> i don't like to stack them like that. >> one is the president and other is a vice president. >> former vice president >> yes >> former vice president good point. >> we heard from brian moynahan in davos where he said if you look at credit cards and bank accounts, the consumer is still flush. seemed to indicate, i thought, as you get into the summer months and potentially farther along, it gets more complicated. the question...
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Feb 22, 2023
02/23
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what would you do, jim, if you fought they really are going to take rates to 5 or what bullard wants,> i don't think 5 is a problem. we're almost there 5 1/2 would be a little more worrisome. but inasmuch as you own schwab or you have the opportunity to think about schwab, higher rates are better for them given the returns on cash. there are various ways to play this but i think we're kind of there in the interest rate journey and it's all going to start revolving around how strong are earnings for the rest of the year >> jim, thanks for your time today. good to see you. jim tierney. >> thank you >> after the break, changing ev currents jeep maker stellantis outlining a shift to the ev space. wall street also loves the established automakers making that dchange but names like lucid are struggling in february cnbc is celebrating black heritage through the stories of some of our teammates, contributors and leaders in business. here is arnold j. companies and b.e.t. founder ronald l. johnson. >> one thing that is in my opinion negatively impacting the black community is that there's a te
what would you do, jim, if you fought they really are going to take rates to 5 or what bullard wants,> i don't think 5 is a problem. we're almost there 5 1/2 would be a little more worrisome. but inasmuch as you own schwab or you have the opportunity to think about schwab, higher rates are better for them given the returns on cash. there are various ways to play this but i think we're kind of there in the interest rate journey and it's all going to start revolving around how strong are...
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Feb 26, 2023
02/23
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jim bullock hit the nail on the head a little harder. he said the fed has to move quickly. it has already lost debility saying inflation would be temporary. let's listen to mr. bullard now. >> move quickly now, reestablish credibility now. sometimes i use the phrase more game theory, less econometrics. what you really want is the establishment of the credibility of the 2% inflation target. there is a certain amount of demonstration to markets if you move quickly. kathleen: this study says they would see the fed funds rate having to peek at 5.6% or 6.5%. analysis is casting doubt on the ability of the fed to get to a soft landing where inflation turns to 2% by the end of 2000 tony five without a mild recession. they just say it ain't possible. haidi: just love that phrase. kathleen hayes, let's get to vonnie quinn with the first word headlines. vonnie: china were in science holdings says it's chairman is assisting chinese authorities in an unspecified investigation. it is the first public information about the banker's whereabouts since he disappeared more than a week ago. the abrupt disappearance has unnerved business elites and fanta speculation that the nations fi
jim bullock hit the nail on the head a little harder. he said the fed has to move quickly. it has already lost debility saying inflation would be temporary. let's listen to mr. bullard now. >> move quickly now, reestablish credibility now. sometimes i use the phrase more game theory, less econometrics. what you really want is the establishment of the credibility of the 2% inflation target. there is a certain amount of demonstration to markets if you move quickly. kathleen: this study says...