Fed signal for rate pause takes pressure off hot jobs report

Fed signal for rate pause takes pressure off hot jobs report

New York: Federal Reserve officials are signaling they plan to keep interest rates steady in June while retaining the option to hike further in coming months, steering market expectations ahead of a key employment report. Governor Philip Jefferson, a centrist who’s nominated to be vice chair and who often echoes Chair Jerome Powell‘s views, said … Read more

Summers sees signs Fed tightening is having impact on US economy

Summers sees signs Fed tightening is having impact on US economy

Former Treasury Secretary Lawrence Summers said evidence is starting to emerge that Federal Reserve actions are having an impact on the US economy, with some indications of a turn in labor demand and increased stockpiles of unsold items. “We’re seeing a little bit of indications that some firms are no longer reporting the kind of … Read more