{"id":1960148,"date":"2023-06-29T11:02:03","date_gmt":"2023-06-29T15:02:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenflation-fed-chair-eyes-at-least-two-more-interest-hikes\/"},"modified":"2023-06-29T11:03:33","modified_gmt":"2023-06-29T15:03:33","slug":"bidenflation-fed-chair-eyes-at-least-two-more-interest-hikes","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenflation-fed-chair-eyes-at-least-two-more-interest-hikes\/","title":{"rendered":"Bidenflation: Fed Chair plans two more interest hikes."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbidenflation-fed-chair-eyes-at-least-two-more-interest-hikes%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1960148&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div>\n<h2>Fed Chair Jerome Powell Expects Interest Rate Hikes<\/h2>\n<blockquote>\n<p>With U.S. inflation well above the Federal Reserve&#8217;s 2 percent goal, most of the central bank&#8217;s policymakers expect they will need to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/morgan-stanley-threat-of-high-inflation-is-real\/\" title=\"Morgan Stanley: Threat of high inflation is real\">raise interest rates<\/a> at least twice more by year&#8217;s end, Fed chair Jerome<span data-qa-component=\"highlight-text\"> Powell <\/span>said on Thursday.<\/p>\n<\/blockquote>\n<div>\n<p><a href=\"https:\/\/winred.tomcotton.com\/tom-cotton\/defend-scotus-ads-beacon?utm_source=rc&#038;utm_medium=beaconads&#038;utm_campaign=2023maybeaconscotus\" target=\"_blank\" rel=\"noopener\"><\/a><\/p>\n<p><a href=\"https:\/\/winred.tomcotton.com\/tom-cotton\/defend-scotus-ads-beacon?utm_source=rc&#038;utm_medium=beaconads&#038;utm_campaign=2023maybeaconscotus\" target=\"_blank\" rel=\"noopener\"><\/a><\/p>\n<\/p><\/div>\n<h3>Powell&#8217;s Remarks on Financial Stability<\/h3>\n<p>In remarks prepared for delivery to a Banco de Espana conference on financial stability in Madrid that largely echoed his recent observations on the economy and the state of policy, <span data-qa-component=\"highlight-text\">Powell<\/span> did not say when those rate hikes may come.<\/p>\n<p>Powell made note of still too-high inflation, and the &#8220;long way to go&#8221; before inflation can be returned to the Fed&#8217;s 2 percent goal.<\/p>\n<p>The Fed&#8217;s determination that inflation remains too hot comes as the Biden administration has touted its economic record and efforts to lower prices. On Wednesday, President Joe Biden <a href=\"https:\/\/freebeacon.com\/biden-administration\/its-worked-before-biden-defends-economic-agenda-in-chicago-speech\/\">delivered<\/a> a speech describing his &#8220;Bidenomics&#8221; as a way to &#8220;restore the American dream.&#8221; American voters have been less pleased with Biden&#8217;s economic record, with polls consistently <a href=\"https:\/\/freebeacon.com\/latest-news\/white-house-touts-bidenomics-as-voters-trash-economy\/\">showing<\/a> widespread dissatisfaction with the economy.<\/p>\n<p>After <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uk-inflation-surprise-pressures-boe-to-raise-rates-again\/\" title=\"UK inflation surprise pressures BoE to raise rates again\">10 straight rate hikes<\/a> since March 2022, the Fed&#8217;s policy-setting Federal Open Market Committee earlier this month opted to leave its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/china-leaves-lending-benchmarks-unchanged-amid-global-rates-squeeze\/\" title=\"China leaves lending benchmarks unchanged amid global rates squeeze\">policy rate unchanged<\/a> at the 5-5.25 percent range.<\/p>\n<p>&#8220;We made this decision in light of the distance we have come in tightening policy, the uncertain lags in monetary policy, and the potential headwinds from credit tightening,&#8221; <span data-qa-component=\"highlight-text\">Powell<\/span> said.<\/p>\n<p>At the same time, he said, &#8220;a strong majority of Committee participants expect that it will be appropriate to raise interest rates two or more times by the end of the year.&#8221;<\/p>\n<p>The Fed will hold four more policy meetings this year, with the next one on July 25-26.<\/p>\n<p>Rate hikes to date have slowed business investment and the housing sector, where activity is far below its peak last year even as some indicators have recently turned up, <span data-qa-component=\"highlight-text\">Powell<\/span> said.<\/p>\n<p>&#8220;It will take time&#8221; for the rest of the economy to feel the full impact of rate hikes to date, he said.<\/p>\n<p>That&#8217;s especially so for inflation, which by the Fed&#8217;s preferred gauge\u2014the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenflation-fed-chair-eyes-at-least-two-more-interest-hikes\/\" title=\"Bidenflation: Fed Chair plans two more interest hikes.\">personal consumption expenditure index\u2014<\/a>is estimated to have risen 3.9% last month from a year earlier, with the core index, excluding food and energy prices, likely to have risen 4.7 percent, <span data-qa-component=\"highlight-text\">Powell<\/span> said.<\/p>\n<p>The official figures for May will be released on Friday. If those estimates prove out, it would show a lack of progress on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/true-rate-of-inflation-much-higher-than-official-government-figures-show-expert-2\/\" title=\"True Rate of Inflation Much Higher Than Official Government Figures Show: Expert\">underlying price pressures<\/a> for the last six months.<\/p>\n<div>\n<p><a href=\"https:\/\/winred.tomcotton.com\/tom-cotton\/defend-scotus-ads-beacon?utm_source=rc&#038;utm_medium=beaconads&#038;utm_campaign=2023maybeaconscotus\" target=\"_blank\" rel=\"noopener\"><\/a><\/p>\n<p><a href=\"https:\/\/winred.tomcotton.com\/tom-cotton\/defend-scotus-ads-beacon?utm_source=rc&#038;utm_medium=beaconads&#038;utm_campaign=2023maybeaconscotus\" target=\"_blank\" rel=\"noopener\"><\/a><\/p>\n<\/p><\/div>\n<p>(Reporting by Ann Saphir; Editing by Leslie Adler)<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>With U.S. inflation surpassing the 2 percent target, the Federal Reserve anticipates raising interest rates twice more this year, according to Fed chair Jerome Powell. Speaking at a Banco de Espana conference in Madrid, Powell stated that the central bank&#8217;s policymakers are prepared to take action to maintain financial stability.<\/p>\n","protected":false},"author":66,"featured_media":1960149,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1960148","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1960148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1960148"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1960148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1960149"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1960148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1960148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1960148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}