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New York (CNN) — Stocks tumbled Tuesday after a slew of economic data stoked fears about the US economy’s cloudy outlook and further interest rate hikes from the Federal Reserve.
Buy Now, Pay Later installment payment offerings appear to be disproportionately used by people facing financial difficulties, raising concerns about the potential for greater money trouble, according to research from the Federal Reserve Bank of New York released Tuesday.
Supply chains are one crisis away from seizing up again, say the CEOs of Prologis and Home Depot. The post Prologis chief urges Federal Reserve to rethink rate policy appeared first on FreightWaves.
(Reuters) -Minneapolis Federal Reserve Bank President Neel Kashkari said on Monday that given the surprising resilience of the U.S. economy, the Fed probably needs to raise borrowing rates further and keep them high for some time to bring inflation back down to 2%. The Fed last week held its policy rate steady in a range of 5.25%-5.50%, but signaled it is likely not yet done raising rates, with one more interest-rate hike by the end of the year seen as likely appropriate by the majority of Fed policymakers. "I'm one of those folks," said Kashkari, who is considered one of the ...
(Reuters) -A "soft landing" for the U.S. economy is more likely than not, Minneapolis Federal Reserve Bank President Neel Kashkari said on Tuesday, but there is also a 40% chance that the Fed will need to raise interest rates "meaningfully" to beat inflation. Under the more likely scenario -- Kashkari pegged the probability at about 60% -- the Fed "potentially" raises rates one more quarter of a percentage point and then holds borrowing costs steady "long enough to bring inflation back to target in a reasonable period of time," he said in an essay publi...