Federal Reserve Chair Jerome Powell Announced Second Consecutive 0.75% Point Interest Rate Increase
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Federal Reserve Chair Jerome Powell, Source: https://en.wikipedia.org/wiki/Jerome_Powell#/media/File:Jerome_H._Powell.jpg, Attribution: Federalreserve, Public Domain: https://commons.wikimedia.org/wiki/File:Jerome_H._Powell.jpg, Presented at: WindermereSun.com)
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Federal Reserve chair Jerome Powell delivers remarks after the federal Reserve decided to raise the fed funds rate by 75 basis points, in the video published on July 27, 2022, “Ongoing increases in target range for fed funds rate will be appropriate, says Jerome Powell“, below:
In the video streamed on July 27, 2022, “WATCH LIVE: Federal Reserve Chair Jerome Powell gives update after Fed interest rate hike“, below:
Some Key Points:
- The Federal Reserve enacted its second consecutive 0.75% point interest rate increase on Wednesday, July 27, 2022, bringing its benchmark rate to a range of 2.25% – 2.5%. This is an effort to dampen the inflation without creating a recession.
- Chair Jerome Powell said there will be a point where the Fed will start to slow hikes to assess their impact.
- Chair Jerome Powell said, “We actually think we need a period of growth below potential in order to create some slack.”
Federal Reserve Chair Jerome Powell answers questions after the FOMC decided to raise the federal funds rate by 75 basis points, in the video published on July 27, 2022, “We’re trying to avoid recession, says Jerome Powell“, below:
Ron Kruszewski, Stifel Financial chairman and CEO, joins ‘The Exchange’ to discuss surging inflation, Fed tightening, and his company’s growth outlook, in the video published on July 27, 2022, “Inflation will come down faster than Fed thinks, says Stifel’s Ron Kruszewski“, below:
Andrew Hollenhorst, Citi Chief US Economist, discusses the Fed’s rate path and high inflation, in the video published on July 27, 2022, “Fed to Hike 75 Basis Points in September: Citi’s Hollenhorst“, below:
The Federal Reserve is expected to raise interest rates again this week by three-quarters of a point. Fed Chair Jerome Powell has made it clear he wants to substantially curb the rate of inflation. But there are serious concerns the Fed could overreact and tip the economy into a recession. Economist Paul Krugman, who’s been writing about this in The New York Times, joins Judy Woodruff to discuss, in the video published on July 26, 2022, “Federal Reserve risks recession by raising interest rates to fight inflation“, below:
Mohamed El-Erian, a Bloomberg Opinion contributor, says the Federal Reserve should keep its options open, in the video published on July 27, 2022, “El-Erian Says Fed Needs to Keep Its Option Open“, below:
Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker More about the community at www.WindermereSun.com
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