WASHINGTON—The Federal Reserve said Wednesday that the economy was growing at a modest pace at the end of 2021 but was still being held back by ongoing supply-chain disruptions and labor shortages. In its latest survey of business conditions around the country, the Fed said its 12 regional banks found that the economy was continuing…
Traders Expect June Rate Hikes as Biden Confirms Powell’s Second Term
November 24, 2021
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Wall Street traders are pricing in June rate hikes and further tapering of bond purchases by the Fed after President Joe Biden on Monday picked Jerome Powell to lead the central bank for another four years. From the current near-zero level that began in March 2020, traders expect at least a 25-basis point hike in…
As Prices Rise, Fed Dismisses Inflation Worries
WASHINGTON–Although inflationary pressures keep building in the U.S. economy, economists believe the Federal Reserve officials are unlikely to tighten monetary policy before seeing significant improvement in labor market recovery. From gas to groceries, Americans have started to see price increases in recent weeks as the economy reopens. Used car and truck prices, for example, surged…
Fed Holds Interest Rates Near Zero, Boosts Economic Projections
WASHINGTON—The Federal Reserve announced on March 17 that it would keep U.S. interest rates near zero as the pandemic continues to pose “considerable risks” to the economy. The central bank, however, made a significant upgrade to its forecasts to reflect the acceleration of economic recovery after the $1.9 trillion COVID relief package. “Following a moderation in the pace…
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Orange County House Prices Could Drop 15 Percent by 2023
Commentary Chapman University is predicting a 10-to-15 percent drop in the median price of detached singled family homes in Orange County, Calif., by mid-2023. Faculty from Chapman University’s A. Gary Anderson Center for Economic Research presented on June 16 the institution’s economic forecasts for the nation, state, and Orange County. It expects rates on new…