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
Did you brush your teeth this morning? Hopefully you did, that’s something most of us do automatically. Did you make any prospect calls today? Probably not, I bet. Most leasing sales professionals who don’t have someone micromanaging them have a... read more
Loyalty is not something that Tom Partridge lacks. He has been with Fifth Third Bank for 18 years and never wavered in his commitment to the organization. That is not to say his role within the bank has not changed,... read more