Top news
Fed officials expect three rate rises next year in hawkish pivot on inflation
By Colby Smith & Eric Platt
How Inflation Concerns May Affect Prices
By Eduardo Porter
The Federal Reserve is expected to take a very big step toward a rate hike
By Patti Domm
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Formerly TwitterMohamed A. El-Erian
elerianm
From the Bloomberg article on “Inflation’s Stubborn Start to 2024 Blamed Partly on Powell Pivot.”
This quote is another way of expressing my long-held concern that, after the humiliating 2021 policy mistake, the Fed became excessively data dependent and overly reactive in its… pic.twitter.com/EWq0EM3ezw
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Mohamed A. El-Erian
elerianm
From “bumps on the road” to “lack of progress” and greater uncertainty:
Federal Reserve Chair Powell hardens his characterization of inflation.
#economy #markets
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Gregory Daco
GregDaco
⚠️Earlier today #Fed VC Jefferson noted: "My baseline outlook continues to be that #inflation will decline further, with the policy rate held steady at its current level
...in contrast to Feb 22: "will likely be appropriate to begin dialing back policy restraint later this year" pic.twitter.com/E5F5bqcz2H
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Gregory Daco
GregDaco
🚨#Fed Chair #Powell with hawkish signal
1⃣"Recent data have clearly not given us greater confidence [that #inflation will return to 2%] & instead indicate that likely to take longer than expected to achieve that confidence"
2⃣"Allow restrictive policy further time to work"
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All coverage
Inflation: why it is the biggest test yet for central bank independence
By Anton Muscatelli
Fed to pivot on inflation fears in the face of another uncertain year
By Lindsay Dunsmuir
Fed signals three rate hikes in the cards in 2022 as inflation fight begins
By Jonnelle Marte & Howard Schneider