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So far Michael Colman has created 99 blog entries.

Beckner: Powell: Funds Rate Could Become Restrictive But Not The Aim

WASHINGTON - Federal Reserve Chairman Jerome Powell was as clear as a monetary policymaker can be Wednesday, elaborating on the Federal Open Market Committee's latest "normalization" move: so long as the economy fulfills expectations the Fed will keep raising short-term interest rates, but not with any particular objective of becoming restrictive.

By |2018-10-01T07:51:56+01:00September 27th, 2018|

ITC – CFTC Positioning (week ending Sept 18th)

Data capture the continued sell-off following the strong Sept NFP/AHE data which sent long-end yields back near the highs from May. Data shows leveraged investors used the sharp sell-off in the front-end to scale back on some net short positions – buying 166k in ED$ contracts and a combined $5.3m/01 in TU & FV contracts. Further out the curve however, they continued to sell TY & WN where net shorts hit another record.

By |2018-09-24T07:51:09+01:00September 24th, 2018|

Beckner: FOMC To Look Beyond 2018 At Appropriate Funds Rate Path

Federal Reserve Chairman Jerome Powell should have no trouble getting support for an increase in the federal funds rate at the Federal Open Market Committee's late September meeting -- what would be the third since he took over from Janet Yellen in February and the eighth since the FOMC stopped holding rates near zero in December 2015.

By |2018-09-21T13:38:17+01:00September 21st, 2018|

Beckner: Powell Unlikely To Send Significant Signals At Jackson Hole

Federal Reserve Chairmen have sometimes broken news and moved markets in Jackson Hole, Wyoming. So speculation is rampant about what Jerome Powell might say when his turn comes Friday to keynote the Kansas City Federal Reserve Bank's annual symposium.

By |2018-08-21T10:28:58+01:00August 21st, 2018|

Beckner: Trade, Other Concerns Cloud Upcoming FOMC Discussions

Although the U.S. economy has seldom looked better, Federal Reserve Chairman Jeremy Powell and his colleagues will make monetary policy under a couple of clouds when they convene their July 31-Aug. 1 Federal Open Market Committee meeting

By |2018-07-27T13:10:19+01:00July 27th, 2018|

Beckner: Top St. Louis Fed Economist Waller: Don’t Need More Rate Hikes

ST. LOUIS - Federal Reserve Chairman Jerome Powell famously said last week the Fed’s policymaking Federal Open Market Committee believes that "for now--the best way forward is to keep gradually raising the federal funds rate," but he and the FOMC majority may get stiff resistance from some quarters.

By |2018-07-23T18:28:52+01:00July 23rd, 2018|

Beckner: FOMC Minutes Show More Trade Concern; Need to Monitor Yield Curve

Minutes of the June 12-13 Federal Open Market Committee meeting don't add a lot to our understanding of prevailing monetary policy sentiment among members of the Federal Reserve's policymaking body. But they do reinforce mounting concerns about trade and, to a lesser extent, the shape of the yield curve.

By |2018-07-06T11:33:37+01:00July 6th, 2018|

Beckner: Phili Fed’s Harker: Should “Take Our Time” Raising Rates

The Federal Reserve tilted toward a modestly more aggressive monetary policy approach at its mid-June meeting, but one centrist Federal Reserve Bank President is standing fast and urging "caution," Philadelphia Fed President Patrick Harker is not ordinarily thought of as a "dove," but he made a strong case for going slow on further rate hikes in a June 27 interview.

By |2018-07-02T08:04:11+01:00July 2nd, 2018|