Federal Reserve economists still expect a recession starting later this year, according to minutes from the June Federal Open Market Committee (FOMC) policy meetings. The economic forecast put together by staff at the policy meeting “continued to assume that the effects of the expected further tightening in bank credit conditions, amid already tight financial conditions”…

Federal Reserve officials expect more rate hikes ahead, while some had advocated for a quarter-point increase at the June Federal Open Market Committee (FOMC) policy meeting, according to new minutes. Rate-setting Committee members agreed that more rate increases are ahead but at a slower pace. They also found it acceptable or appropriate to leave the…

Federal Reserve staff are projecting that the banking crisis would trigger a recession later this year, minutes from the March Federal Open Market Committee (FOMC) policy meeting revealed. As expected, the turmoil in the banking sector was the main focus of last month’s policy meeting, with many Fed participants expressing concern that the collapse of…

The Federal Reserve might adopt a “more restrictive” policy in the future should inflation persist, minutes from the June Federal Open Market Committee (FOMC) policy meeting revealed (pdf). According to the latest minutes, FOMC participants conceded that there is a substantial risk of entrenched inflation, with the inflation outlook deteriorating. This, officials argued, required a…

The Federal Reserve might adopt a “more restrictive” policy in the future should inflation persist, minutes from the June Federal Open Market Committee (FOMC) policy meeting revealed (pdf). According to the latest minutes, FOMC participants conceded that there’s a substantial risk of entrenched inflation, with the inflation outlook deteriorating. This, officials argued, required a three-quarter-point…

The Federal Reserve is ready to raise interest rates and shrink the nearly $9 trillion balance sheet, minutes from last month’s Federal Open Market Committee (FOMC) meeting show. Policymakers discussed that the timing and pace of shrinking the balance sheet would be determined by the rate-setting committee’s dual mandate of full employment and price stability…

LONDON—The dollar held near a one-year high versus major peers on Wednesday, amid rising expectations the Federal Reserve will announce a tapering of stimulus next month, potentially following with interest rate hikes by mid-2022. Three Fed policymakers said on Tuesday that the U.S. economy has healed enough to begin to scale back the central bank’s…