The Fed is focused on inflation and the banking jitters won't stall its interest-rate increases, Jim Bianco says
The Federal Reserve is so focused on fighting inflation that the latest banking-sector tremors won't unsettle its policy stance that favors higher interest rates, Wall Street analyst Jim Bianco said.
The US central bank is widely expected to raise its benchmark rate by another 25 basis points this week. It has boosted borrowing costs toward 5%, from almost zero as of March 2022. "I think the way that [Powell] looks at it is that 57% of the public - and this is a recent survey by Bankrate - lives paycheck to paycheck, they couldn't come up with $1,000 in savings. So he looks at a 5% or 6% inflation rate and says: 'these people lose, I have to do something about inflation.'"
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
S&P, Dow edge higher as JPMorgan gains; Fed meet in focus By Reuters*U.S. STOCKS RISE AS JPMORGAN GAINS AFTER FIRST REPUBLIC TAKEOVER; S&P 500 HITS HIGHEST SINCE FEB. 2 $DIA $SPY $QQQ 🇺🇸🇺🇸
Lire la suite »
Conservative group goes to war against 'deadbeat billionaire' Jim Justice in new adThe conservative Club for Growth is out with a new negative ad against Gov. Jim Justice (R-WV), in which it calls him a “deadbeat billionaire” who is an “embarrassment to West Virginia.”
Lire la suite »
This earnings season has been 'pretty darn good' and several companies stand out, Jim Cramer saysAfter getting earnings from two-thirds of Dow Industrials, it shouldn't come as a surprise that the market is so high, Jim Cramer said.
Lire la suite »
Jacksonville resident Jim Furyk named as captain of US team for President’s CupPGA Tour Champions golfer and Jacksonville resident Jim Furyk was named the captain of the U.S. team for the President's Cup on Tuesday morning. The event, held every two years, will be played Sept. 24-29, 2024 in Montreal.
Lire la suite »
Jim Wangers, the Godfather of the GTO, dead at 96Jim Wanger ruled Detroit with horsepower and passion
Lire la suite »
Jim Banks Presses DOJ over Housing Biological Men in Women's PrisonsRep. Jim Banks (R-IN) hounded Attorney General Merrick Garland over how many biological men the DOJ houses in women's prisons.
Lire la suite »