Boston Fed Chairman Collins said the job of taming inflation was not done yet, but that a series of steep rate hikes had increased the risk of a monetary tightening too much. “I think so far the risk of overtightening has increased with rate hikes,” he said in an interview with Bloomberg. The interview took … Read more
Three US central bank presidents on Wednesday stressed the need to continue tightening monetary policy, but supported the slowdown in the pace of tightening. The time for the Fed to slow the pace of aggressive rate hikes appears to be approaching as growth in the US consumer price index (CPI) slowed more than expected on … Read more
In the 8th mid-term American elections, voting will be closed in some constituencies and the counting of votes will begin. On this day there was a problem with the machines and systems for counting votes in some polling stations. Although the outbreaks have been sporadic, some Republicans in some of Arizona’s larger counties have made … Read more
Jan Hatzius, chief economist at Goldman Sachs Group Inc., said the US economy is still avoiding a recession despite the Fed’s aggressive tightening and geopolitical uncertainty. He said he believed it remained a “very plausible” path. Goldman maintained a 35% chance that the US economy will enter a recession over the next 12 months. That … Read more
The most aggressive and simultaneous monetary tightening of the past 40 years is entering a new phase. Some central banks have begun to slow the pace of rate hikes and divergences are becoming apparent over how many further rate hikes will be implemented in the future. The shift towards less aggressive and less monolithic interest … Read more
The US labor market posted a stronger-than-expected increase in employment in October, while average hourly wages rose on a monthly basis. Meanwhile, unemployment has risen and results have been mixed as the Fed continued to discuss how long to continue tightening measures to curb high inflation. Key point Non-farm payrolls (plant survey, seasonally adjusted) increased … Read more
Federal Reserve Chairman Jerome Powell said Wednesday that there is no doubt the Fed is ready to raise interest rates just enough to stifle inflation, even though it is aware it is slowing the pace of rate hikes. In a press conference after the Federal Open Market Committee (FOMC) decided to raise interest rates by … Read more
A Chinese who won 219 million yuan (about 4.4 billion yen) in the lottery appeared alone at the costume reception ceremony. He is keeping the great victory a secret, fearing that his wife and her children will get lazy if they find out. According to local media, the man, who only identified himself as Li, … Read more
The Institute for Supply Management (ISM) manufacturing index fell in October, suggesting it was approaching contraction territory. An orders index fell for the fourth time in five months and an input price index fell to its lowest level in over two years. Key point The ISM manufacturing index falls to 50.2, the lowest level since … Read more
Job openings in the US increased in September, contrary to market expectations. With unemployment remaining low, it is likely to lead to further wage increases. For the US Fed, pressure has increased to continue to take aggressive tightening measures to curb inflation. Key point Job vacancies increased by 437,000 from the previous month to 10.72 … Read more