Breitbart Business Digest: The Odds of a Bigger Rate Hike Are Growing

was attempting on Wednesday to moderate expectations for a bigger rate increase later this month, he seems to have failed.

In his testimony before a House Financial Services Committee today, Powell stressed that he and his fellow Fed officials“We have not made any decision about the March meeting,” Powell said. Looking further out, the market appears to be no longer pricing in a rate cut before the end of the year. To the extent that Fed officials have been attempting to talk the market out of its prior conviction that the Fed would cut rates in the second half of 2023, the mission has been accomplished. The futures now imply nearly a 30 percent chance that we’ll. A month ago, the market was giving less than 10 percent odds of being above five percent.

also indicated stubborn strength. The last day of December figure was revised up to 11.2 million from 11 million. As a result, the ratio of vacancies to unemployed people in January is within rounding distance of the March 2022 record high of two-to-one.

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Breitbart Business Digest: Warren and Powell Fight Over the Real Cause of High InflationThe most entertaining scene in Tuesday's Senate hearing on monetary policy was also its most enlightening, highlighting two opposing views of inflation and the underlying mechanics of the U.S. economy. | Economy carney carney She speaks without thinking.. carney It was only a matter of time before the administration told Powell to pivot. If he doesn’t, 2 million people are unemployed and it becomes difficult to continue running the money printing presses 24/7. If he does pivot, hyperinflation 🍿🍿
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