Jerome Powell spoke at a conference last week in Washington, DC. The event was one week after the Fed increased the federal funds interest rate target by a quarter point to 2-2.25 percent at its monthly meeting. According to post-meeting notes, the Fed is likely to approve one more hike in 2018, probably in December. Interviewed during a panel session (with journalist Judy Woodruff of PBS) at the conference, the Fed chairman added some more context to the central bank’s perspective, citing the following:
“The really extremely accommodative low interest rates that we needed when the economy was quite weak, we don't need those anymore." “Interest rates are still accommodative, but we're gradually moving to a place where...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
