Bloomberg reported that four Federal Reserve regional bank presidents who vote on monetary policy this year see less of a need for the Fed to spur the economy with new accommodation.
The presidents’ comments echo the minutes of the Fed’s March 13 meeting, in which a “couple of” participants called for easing only “if the economy lost momentum” or if inflation fell below its 2% target. Fed officials will hold the main interest rate close to zero at least through 2014, a date “subject to revision in response to significant changes in the economic outlook,” Bloomberg said.
“The probability of needing to do additional stimulus is lower,” San Francisco Fed president John Williams told reporters yesterday. Cleveland’s Sandra Pianalto, Atlanta’s Dennis Lockhart and Richmond’s Jeffrey Lacker also spoke against additional accommodation this week, with Lacker saying yesterday he “was surprised a couple months ago at the probability market participants seemed to ascribe to further easing,” Bloomberg noted.
To read the full Bloomberg story click here.
No tags available
Monitor 100 2015
One of the most common complaints I hear from midsized business owners is that their lending partners don’t understand their business. It’s no secret that credit is more available today than it was a few years ago. As we start... read more
Monitor 100 2015
When Santander Bank decided to expand its middle-market and large corporate environment structured finance and leasing business, they needed someone who had experience starting and running businesses within a corporate platform — a skill that takes demonstrated leadership acumen, coupled... read more