The Fed's message today is that slowing down the pace of monetary tightening reflects "common sense" after such aggressive rate rises so far. But there is still more work to do to get inflation back down to target https://t.co/3rapHKqW7c
First Q from @colbyLsmith, who asks Powell why the FOMC has confidence waiting won't be counterproductive.
Powell: "It made obvious sense to moderate our rate hikes as we got closer to our destination... I would say it's a continuation of that process"
CONFIRMED: from @lbarronlopez and me.
@POTUS BIden called the "Big Four" lders in Congress to a May 9 meeting to talk "budget".
(Reminder the WH has said it won't negotiate a debt ceiling - so we'll see how this careful dance works here.)
McCarthy agreed to meet.
Due to the continued snowfall cleanup – particularly on side streets and the anticipated delays, all school buses are cancelled today.
Schools continue to remain open for in-person learning.
As a result of the continued clean-up – particularly on side streets – following yesterday’s snowfall and the resulting delays, all school buses are cancelled today, however, all schools remain open.
With a snowfall warning in effect, we will monitor the situation and provide an update regarding potential bus delays or cancellations by 6 a.m. tomorrow. For the latest updates on school bus transportation delays, visit: https://t.co/YvtYpYucE7
Neel Kashkari doesn't know why markets have dialed back rate expectations so much.
"We’re going to continue to do what we need to do until we are convinced that inflation is well on its way back down to 2 percent — and we are a long way away from that.”
https://t.co/p7wwatIvI7
Federal Reserve Governor Christopher Waller said he would support another 75-basis-point rate increase at the central bank’s July meeting should economic data come in as he expects https://t.co/R7q9rGYbK6 via @markets
Rice may be India’s next food protectionism target after it restricted wheat and sugar exports, analysts say, a move that could have a devastating impact on global food security https://t.co/QZbDOkUswW