Why everything changed for the Federal Reserve

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Why everything changed for the Federal Reserve

CNN2021-09-23

London (CNN Business)Six weeks ago, the Federal Reserve was sending signals that it was time to start backing away from crisis-era support for the US economy. "It's not clear to me that we're really ...

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CCYMoney
·2021-09-23
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- Baldy:
  K
  2021-09-23
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- Faithc:
  done
  2021-09-23
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- Kinokinok:
  o k
  2021-09-23
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Justinjj
·2021-09-23
Good
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- eveev:
  Good that market reacted positively
  2021-09-23
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The Personal Consumption Expenditures Price Index, the Fed's favorite measure, rose at a rate of 4.2% in the year ended July, the fastest pace since January 1991. That's more than double the central bank's 2% target.\nThis month, a number of companies have revised down their earnings expectations as a result of higher prices. PPG (PPG), which makes paints and coatings, said third quarter sales volumes would be $225 million to $275 million lower, citing supply chain problems and raw material inflation. Competitor Sherwin-Williams (SHW) made a similar announcement.\nSome economic data also indicates the US economy is powering through the impact of the Delta variant. Counter to expectations, US retail sales increased last month as consumers shelled out on clothing, furniture and groceries.\nTaken together, inflation readings and signs of economic resilience should be encouraging the Fed to act sooner rather than later. But Wall Street now thinks the central bank will make this call in November, with the tapering of bond purchases starting by near end.\nWhy? Simply because the situation remains murky. In August, spending at restaurants was flat month-over-month, indicating Delta concerns are having some effect on consumers. And the most recent US jobs report showed that just 235,000 positions were added in August, a major disappointment.\n\"Ultimately, the determination of the decision on tapering likely comes down to the pace of labor market improvement over coming months,\" Ellen Zentner, Morgan Stanley's chief US economist, said in a research note. She thinks the Fed will delay a tapering announcement until December so it can parse more jobs data.\nWatch this space: With agreement that the Fed is on hold for the time being, the most market-sensitive moment of Wednesday's announcement is likely to be the release of the central bank's latest economic forecasts, as well as its \"dot plot,\" which tracks expectations for when interest rate hikes will kick in.\nIn the last update, seven out of 18 Fed officials said rate increases would likely start in 2022. ING thinks it's conceivable that \"one or two more bring their forecast forward\" to next year. \"We suspect the median stays at 2023 for now, but it will be a close call,\" the bank predicts.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":863157088,"gmtCreate":1632367279744,"gmtModify":1676530764944,"author":{"id":"3581714708617316","authorId":"3581714708617316","name":"CCYMoney","avatar":"https://static.tigerbbs.com/5049d73c8031af1f31bdfad6bd82929f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581714708617316","authorIdStr":"3581714708617316"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/863157088","repostId":1115178966,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5967900,"gmtCreate":1632368972630,"gmtModify":1663234314836,"authorId":3561609447157373,"author":{"id":3561609447157373,"idStr":"3561609447157373","authorId":3561609447157373,"name":"Baldy","avatar":"https://static.tigerbbs.com/0b4d7e96779a5120811e1a603b358e54","vip":1,"currentWearingBadge":{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.06.19","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1001},"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":863157088,"type":1,"supId":0,"prevId":0,"content":"K","text":"K","html":"K"},{"id":5967732,"gmtCreate":1632368065544,"gmtModify":1663234313435,"authorId":3577501750554592,"author":{"id":3577501750554592,"idStr":"3577501750554592","authorId":3577501750554592,"name":"Faithc","avatar":"https://static.tigerbbs.com/e05208519e0467a3e2353dfaeb49b873","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":863157088,"type":1,"supId":0,"prevId":0,"content":"<u>done</u>","text":"<u>done</u>","html":"<u>done</u>"},{"id":5968457,"gmtCreate":1632372708386,"gmtModify":1634788341197,"authorId":3580363111370038,"author":{"id":3580363111370038,"idStr":"3580363111370038","authorId":3580363111370038,"name":"Kinokinok","avatar":"https://static.tigerbbs.com/0f1aab7b42bc118820a5c63211782a7c","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":863157088,"type":1,"supId":0,"prevId":0,"content":"o k","text":"o k","html":"o k"}],"langContent":"EN"},{"id":863155104,"gmtCreate":1632367155208,"gmtModify":1676530764901,"author":{"id":"4093316039832790","authorId":"4093316039832790","name":"Justinjj","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4093316039832790","authorIdStr":"4093316039832790"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/863155104","repostId":1115178966,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5967746,"gmtCreate":1632368131132,"gmtModify":1663234314643,"authorId":3581817256198016,"author":{"id":3581817256198016,"idStr":"3581817256198016","authorId":3581817256198016,"name":"eveev","avatar":"https://community-static.tradeup.com/news/acfc6af760312ed64b31cfbcca1e2276","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":863155104,"type":1,"supId":0,"prevId":0,"content":"Good that market reacted positively","text":"Good that market reacted positively","html":"Good that market reacted positively"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":50,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}