In addition to raising the federal funds rate at its 13-14 June, the Federal Reserve addressed the issue of how it will roll off its massive holdings of securities.
At its 13-14 June, the Federal Open Market Committee (FOMC) raised the federal funds rate by a quarter-percent (see Ag Perspectives, 14 June) to a target range of 1-1.25 percent. This is the fourth rate hike since December 2015, and the FOMC’s post-meeting notes indicated another one is likely in September.After its May meeting, the FOMC decided to maintain its existing policy of reinvesting all principal payments from its holdings of agency debt and agency mortgage-backed securities back into agency mortgage-backed securities along with rolling over maturing Treasury s...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
