Nick Timiraos said the Fed's January meeting notes showed officials discussed whether to slow or pause the reduction of its nearly $6.80 trillion portfolio at last month's meeting as they faced complications over the coming months from raising the federal debt ceiling, a development that could lead to large swings in the Fed's liabilities.
"Federal Reserve Speaker" Nick Timiraos: Due to the weak performance of the PPI components that make up the PCE index (financial and medical services sub-items) in January, the monthly rate of the core PCE index in the United States in January is expected to be much lower than the sharp increase in the monthly rate of CPI yesterday. A month-on-month increase of 0.27% in the core PCE in January would reduce the annual rate of the core PCE from 2.8% to 2.6%.
"Fed Messenger" Nick Timiraos: The strong inflation data in January makes the case for the Federal Reserve to further "readjust" the path of interest rate cuts before the middle of the year untenable. (Jin Ten)
“美联储传声筒”NickTimiraos:1月份的通胀数据表现强劲,这使得美联储在年中之前进一步“重新调整”降息路径的理由站不住脚。(金十)
The Fed has hit the pause button on interest rate cuts, entering a new wait-and-see phase as it tries to decide whether to cut rates from their recent two-decade highs and by how much, according to Nick Timiraos. Wednesday's decision to keep rates on hold follows three consecutive rate cuts from September, when rates were about 5.3 per cent. Officials made only minor changes to their policy statement at the end of the two-day meeting, which indicated that inflation remained slightly above target...
“美联储传声筒”NickTimiraos表示,美联储按下了降息暂停键,进入了一个新的观望阶段,它正试图决定是否将利率从最近的二十年高点下调以及下调多少。在周三决定维持利率不变之前,美联储已从9月开始连续三次降息,当时的利率约为5.3%。官员们在为期两天的会议结束时发表的政策声明只做了微小的改动。声明表明,在通胀率仍略高于目标、劳动力市场状...
As Mr. Trump considers using tariffs more boldly, a key question looms over the Fed: the extent to which any price increases will spur public interest in higher inflation, writes Nick Timiraos, the Fed's mouthpiece.
"Fed Speaker" Nick Timiraos: With December CPI and PPI data, forecasters expect December core PCE to rise 0.17% (nearly 2% annualized), which will keep core PCE at 2.8% annualized and reduce the 6-month and 3-month annualized values to 2.3% and 2.2%, respectively. (Jin Ten)
Nick Timiraos, the Fed's megaphone, pointed to Fed meeting notes as further evidence that officials are broadly willing to keep rates on hold at their upcoming meeting at the end of the month. "Participants indicated that the committee is at or near the appropriate level to slow the pace of policy easing," the meeting notes said. Based on their current outlook for economic activity, officials believe the Fed is likely to continue cutting rates at a slower pace than in recent months.
“美联储传声筒”NickTimiraos表示,9月份,19名美联储官员中有3人认为,核心PCE通胀预测面临的风险偏向上行(如果预测错误,则可能过低)。而今天,有15或19名官员认为,已经被上调的核心PCE通胀的风险仍偏向上行。(金十)