There is a trend of slowing inflation and some signs of a gradual cooling in the demand for labor, said New York Fed President John Williams on Wednesday.
The latest economic data seems to be breaking the Federal Reserve’s way, with cooling of both inflation and the labor market, according to New York Fed President John Williams on Wednesday.
Both... The latest economic data seems to be breaking the Federal Reserve’s way, with cooling of both inflation and the labor market, according to New York Fed President John Williams on Wednesday. In addition, Williams said he expects the unemployment rate to rise to a range of 4%-4.5% over the next year from a tight 3.5% rate in March.
Some economists think the Fed will pause due to tighter credit standards from banks in the wake of the collapse of Silicon Valley Bank. That could lead to a cutback in consumer spending.While there will likely be some tightening in credit conditions, “it is still too early to gauge the magnitude and duration of these effects, and I will be closely monitoring the evolution of credit conditions and their potential effects on the economy,” he added.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fed's Williams: It is too early to assess the economic impact of tighter creditFederal Reserve Bank of New York President John Williams said Wednesday that inflation is still at problematic levels and the US central bank will act
Read more »
Fed court tosses Berkeley ban on natural gas in new constructionA federal appeals court on Monday overturned Berkeley's first-in-the-nation ban on natural gas in new construction.
Read more »
New task for ChatGPT: Deciphering messages from the FedChatGPT can apparently read between the lines of crucial — and sometimes challenging-to-parse — communications from central bankers.
Read more »
Serena Williams will serve up a new memoir, insiders sayThe retired tennis great is shopping a memoir, sources exclusively tell us, and offers could be hitting upward of $10 million, we hear.
Read more »
1985 Chrysler LeBaron GTS Turbo: Swinging for the FencesFrom the Archive: New car, new suffix, from the New Chrysler Corporation.
Read more »
Ukraine thanks neighbors for new weapons as Russia claims new territorySlovakia, which shares a border with Ukraine, provided the country with 13 fighter jets.
Read more »