Fed's Bowman still cautious about changing policy stance

Bowman's prepared remarks to a gathering of bankers in Alaska reflect her continued stance as one of the Fed's more hawkish policymakers. While she refrained for a second time from saying she stood ready, if necessary, to further lift rates, as has been her position previously, she offered little indication she is ready to endorse a rate cut at the Fed's Sept. 17-18 meeting, as is now widely expected. Inflation should continue to fall under the current stance of policy, she said, and if inflation continues to fall sustainably toward the Fed's 2% target, "it will become appropriate to gradually lower the federal funds rate to prevent monetary policy from becoming overly restrictive on economic activity and employment."

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Trump Ally Bessent Says Stocks Will Fall on ‘Precarious’ Economy

(Bloomberg) -- Scott Bessent, who runs macro hedge fund Key Square Capital Management, said he expects a jump in volatility and a decline in US markets because the economy is more fragile than most investors realize. Most Read from Bloomberg‘Train Lovers’ Organize to Support Harris and Walz in Presidential BidPart of Downtown Montreal Is Flooded After Water Pipe BreaksClimate Disasters Are an Affordable Housing Problem“Right now we view the US economy as being in a precarious, emerging market-st

Argentina economic activity seen back in the red in June

Argentina's economic activity likely fell in June versus the same month a year earlier, analysts said, back in the red after a rare rise the month before amid tough austerity measures and cost-cutting under libertarian President Javier Milei. The median forecast from 16 analysts sees economic activity down 1.9% year-on-year in the sixth month of the year, dropping back from May's 2.3% rise, as growth in the grains and gas sectors is weighed down by weak consumption and construction. The president's cost-cutting agenda has helped achieve rare fiscal surpluses and has allowed the central bank to rebuild reserves, but the economy has suffered, with consumption, construction and manufacturing down sharply.

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Wall Street Will Scour Fed Minutes for Clues on the End of Balance-Sheet Unwind

(Bloomberg) -- As debate heats up on Wall Street over when the Federal Reserve will complete its current course of quantitative tightening, strategists are looking for more guidance on Wednesday when the US central bank releases the minutes of its latest policy meeting.Most Read from Bloomberg‘Train Lovers’ Organize to Support Harris and Walz in Presidential BidPart of Downtown Montreal Is Flooded After Water Pipe BreaksClimate Disasters Are an Affordable Housing ProblemWhile most market-watcher

Gold, Silver Price Action Setups Ahead of FOMC Minutes, Jackson Hole

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Fed officials uneasy about job market as they get ready for Jackson Hole

Federal Reserve officials gathering at the annual central banking conference in Jackson Hole, Wyoming, this week can take some satisfaction that the U.S. unemployment rate, at 4.3%, remains low by historical standards. But it usually is: The U.S. experience of unemployment since the late 1940s has involved jobless rates that far more often than not are below the 5.7% long-run average, until they rise fast and far above it, a phenomenon Fed officials are worried about repeating. The steady rise in the unemployment rate from 3.7% in January of 2023 to 4.3% as of July 2024 has also been accompanied by an increase of 1.2 million in the number of people looking for work - something that is usually considered a positive sign for the economy but that can cause the unemployment rate to rise.