The U.S. Federal Reserve should raise interest rates by a half percentage point each time at more than its next two meetings, Fed Governor Christopher Waller said on Monday, underscoring tensions at the central bank about how aggressively to tighten policy as it battles to bring down high inflation. “I support tightening policy by another…
Fed’s George Sees Policy Interest Rate Near 2 Percent by August
May 24, 2022
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Kansas City Federal Reserve Bank President Esther George on Monday said she expects the U.S. central bank to lift its target interest rate to about 2 percent by August, with further action dependent on how both supply and demand are affecting inflation. “Fed policymakers have emphasized a commitment to act expeditiously to restore price stability,…
Russia Flags Further Rate Cut, More Budget Spending
April 18, 2022
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Russia on Monday flagged a likely further cut in interest rates and more budget spending to help the economy adapt to western sanctions. Russia faces soaring inflation and capital flight while grappling with a possible debt default after the West imposed unprecedented sanctions to punish President Vladimir Putin for sending tens of thousands of troops…
Fed’s Williams: 50 Basis Point Hike Is a ‘Very Reasonable Option’ for May
The U.S. Federal Reserve should reasonably consider raising interest rates by a half percentage point at its next meeting in May, New York Fed President John Williams said on Thursday, in a further sign even more cautious policymakers at the central bank are on board with a bigger rate hike. “I think that’s a very…
World Shares Track Wall Street Retreat on Interest Rate Worries
World shares were mixed Thursday after a retreat on Wall Street spurred by comments indicating the Federal Reserve intends to more aggressively tackle inflation. Benchmarks rose in Paris and Frankfurt after declines in most Asian markets. U.S. futures fell while oil prices were higher. The Fed comments have added to investor unease over the war…
Piper Sandler Sees 21 Percent Upside in This Cloud Computing Platform
Piper Sandler analyst James Fish initiated coverage of DigitalOcean Holdings Inc. with an Overweight rating and a $72 price target (21 percent upside). Fish expects DigitalOcean to benefit from the shift of the 18 percent public cloud workload annual growth in which cloud spending is only 23 percent of broader infrastructure spending today. The analyst notes DigitalOcean is…
New York Fed President: Pace of Rate Increases Depends on How Economy Responds
April 3, 2022
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PRINCETON, N.J.—The Federal Reserve needs to move monetary policy towards a more neutral stance, but the pace at which it tightens credit will depend on how the economy reacts, New York Fed President John Williams said Saturday. Williams, in response to questions at a symposium about whether the Fed needed to hasten its return to…
Fed to Raise Rates, Won’t Be as Restrictive as 1990s: Chicago Fed President
Federal Reserve Bank of Chicago President Charles Evans on Friday said the U.S. central bank is on track to raising rates this year, though it may be “more than I think is essential” to do so at every policy-setting meeting. “By the end of the year when we are closer to neutral we are going…
Global Stocks Mixed After Fed Chair Backs Smaller Rate Hike
March 3, 2022
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BEIJING—Global stock markets were mixed Thursday and oil prices jumped another $5 as Russian forces whose attack on Ukraine has roiled financial markets bombarded the country’s second-largest city and besieged two ports. The economic fallout from the Russian invasion expanded, with Fitch Ratings and Moody’s Ratings cutting Russia’s credit rating. They said the invasion and…
ECB Meets as Invasion of Ukraine Complicates Path to Higher Rates
February 24, 2022
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FRANKFURT—European Central Bank policymakers are gathering on Thursday for what may have become a crisis meeting as Russia’s invasion of Ukraine threatens to derail economic growth in the eurozone and complicate the ECB’s path out of negative interest rates. The ECB’s policymaking Governing Council had been due to gather in Paris on Thursday for an…
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