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Real-time News
On August 21, "Federal Reserve mouthpiece" Nick Timiraos said: The Federal Reserves meeting minutes usually do not reveal much new content, but they reinforce the information that has been made public: First, according to Powells press conference, the overall sentiment of the committee at the July meeting was hawkish (at least compared with the market); second, the dependence of data and forecasts was revealed, that is, after the release of the employment report on August 1, more officials showed an open attitude towards cutting interest rates in September.Atlanta Fed President and 2027 FOMC voting member Raphael Bostic will speak on the economic outlook in ten minutes.Amazon (AMZN.O): Users aged 18 to 24 can now join the newly upgraded membership plan for just $7.49 per month.On August 21st, Nick Timiraos, a "Federal Reserve voice," wrote in his latest article: The minutes of todays policy meeting show widespread support for the Federal Reserves decision to hold interest rates steady last month, despite two dissenting officials arguing for a rate cut. However, a few officials have aligned themselves with Waller and Bowman, suggesting they may support a rate cut at the Feds next meeting on September 16-17. They said the slower-than-expected transmission of tariff increases to consumer prices should alleviate concerns about a new inflationary shock from rising import costs. However, inflation hawks noted that price pressures, including for services, have increased since last months meeting. Kansas City Federal Reserve Bank President Schmid said in a speech last week that tariffs have had a limited impact on inflation, in part because the Fed has held interest rates steady. Unlike Bowman, who has been calculating inflation after tariffs, Schmid has pledged never to make such a calculation, calling it "a concept that is neither meaningful nor measurable."Nick Timiraos, the "Federal Reserve mouthpiece": The Feds meeting minutes showed that the decision to keep interest rates unchanged last month was widely supported. The minutes suggested that if it were not for the disappointing revision of employment data released two days after the meeting, the possibility of a September rate cut would have been very uncertain.