Page 5 - He Fed News Today

(Bloomberg) -- Federal Reserve Bank of Boston President Susan Collins said she’s looking for more evidence that inflation is durably set to align with policymakers’ 2% target before moving to cut interest rates, though that step is likely “later this year.”Most Read from BloombergHaley Loses Nevada Primary to ‘None of These Candidates’ OptionChina Replaces Top Markets Regulator as Xi Tries to End RoutTesla Asks Which Jobs Are Critical, Stoking Layoff Fea...

(Bloomberg) -- Four Fed officials suggested Wednesday they don’t see an urgent case for lowering interest rates, adding to a roster of policymakers in recent days who made clear a cut isn’t likely until May at the earliest.Most Read from BloombergHaley Loses Nevada Primary to ‘None of These Candidates’ OptionChina Replaces Top Markets Regulator as Xi Tries to End RoutTesla Asks Which Jobs Are Critical, Stoking Layoff FearsUS Commercial Real Estate Contagion Is Now Mov...

"Everyone should just wait. When we get a negative data point, we can talk about it. Until then, seems to me the economy is doing just fine."

"We have an economy that is both piping hot (in terms of growth and job creation) and refreshingly cool (in terms of inflation)," he wrote for The New York Times.

Employers added 353,000 jobs in January and unemployment was 3.7%. Hiring likely to slow in 2024 after a COVID-related surge the past couple of years.

The S&P 500 could be on track to soar to 6,000 by 2026, Federated Hermes' chief investment officer said.

“I think he’s going to do something to probably help the Democrats, you know, I think if he lowers interest rates,” the former president told Fox Business.

Jerome Powell's efforts to navigate monetary policy through a white-hot election year just got more complicated.

"In the short term there's going to be a little bit of a digestion phase because the market had been expecting the Fed to cut sooner, but in the medium term it could still be a good thing because generally a resilient labor market, strong economy is good for stock prices.” The wages were strong.

Inflation is likely to remain above the Fed's target for the first half of 2024, which could cause more volatility as traders adjust rate cut bets.