What's next for the Fed? Former deputy chairman weighs

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Von: Krypto News Österreich

Roger Ferguson – ehemaliger stellvertretender Vorsitzender der Federal Reserve – hat seine Analyse der jüngsten Zinserhöhung der Zentralbank und der darauffolgenden Pressekonferenz am Mittwoch angeboten. Ferguson glaubt, dass die Fed und der Markt sich nicht darüber einig sind, was die Zentralbank als nächstes tun wird. Letzteres, behauptet er, setzt darauf, dass Ersteres gezwungen sein wird, seine Zinserhöhungen früher als erwartet rückgängig zu machen. Kommt der Drehpunkt? Apropos gegenüber CNBC am Donnerstag stimmte der frühere stellvertretende Vorsitzende seinem Interviewer Michael Santoli zu, dass der Vorsitzende Powell viele Gelegenheiten verpasste, um danach hawkischer zu sein, wenn er mit Reportern sprach FOMC. „[The …
Roger Ferguson - former deputy chairman of the Federal Reserve - offered his analysis of the recent interest increase in the central bank and the subsequent press conference on Wednesday. Ferguson believes that the Fed and the market do not agree on what the central bank will do next. The latter, he claims, rely on the fact that the former will be forced to undo his interest rate increases earlier than expected. Is the pivot point? Speaking of CNBC On Thursday, the former deputy chairman approved his interviewer Michael Santoli that the chairman Powell missed many opportunities to be Hawkischer afterwards when he spoke to reporters Fomc. "[The ... (Symbolbild/KNAT)

Roger Ferguson-former deputy chairman of the Federal Reserve-offered his analysis of the recent interest rate increase of the central bank and the subsequent press conference on Wednesday.

Ferguson believes that the Fed and the market do not agree on what the central bank will do next. The latter, he claims, rely on the fact that the former will be forced to undo his interest rate increases earlier than expected.

is the pivot point?

Speaking of On Thursday, the former deputy chairman agreed to his interviewer Michael Santoli that the chairman Powell missed many opportunities to be Hawkischer afterwards when he spoke to reporters Fomc .

"[The Fed] was very clear that one or two other interest rate increases would come because they see that the process of inflation slowed down. The market decided to ignore the possibility of two," said Ferguson.

Ferguson added that the market assumes that there will be such a deep recession this year that the Fed is forced to reduce interest rates. Other external observers including the combined nations and jp morgan> met.

While Bitcoin initially stagnated by 25 basis points on Wednesday after the Fed has raised the Fed, it recovered according to Powell's comments to the increase in addition to stocks and crypto. The chairman said that the Fed keeps an eye on the employment data to determine their future monetary policy, but their outlook suggests that there will be no interest rate increases this year.

Sometimes his sound seemed to be less decided. Gary Cohn, Chief Operating Officer from Goldman Sachs, believes that Powell "seemed to go back and forth to deliver both sides of the argument," says Gary Cohn CNBC .

"This is a difference between the forecasts," continued Ferguson. "The market thinks that inflation is declining that the Fed is responsible for reducing later this year. The forecast of the Fed is a bumpy but relatively gentle landing with a somewhat below the trend."

Wharton Prof: Powell understands it

In conversation with Melissa Lee from CNBC on Wednesday, Wharton economic professor Jeremy Siegel said "Two -sided".

"He admitted that the real estate sector is really a faulty indicator," said Siegel, referring to the delayed reaction of the real estate sector with interest rates, which looked worse than it really was. "Inflation has decreased absolutely dramatically."

Seal hesitated to predict whether the Fed will carry out one or two more interest increases. However, if the labor market collapses in any way, he does not believe that further interest rate increases will follow.

"Everything we need is a month with a negative salary bill," he said. "I think that really changes the whole story because [Powell] said that is the last thing that is drumproof.

in March 2022 Siegel pushed font-weight: 400 "> the fed begins to raise the interest rates aggressively to suppress inflation, out of fear Cryptocurrency with a fixed offer - could "take over". The latest CPI report at this time showed an annual inflation of 7.9 % compared to 6.5 % in December.

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