Central Bank Watch
FOMC Statement and Press Conference
May 4, 2022
By a vote of 10-0, the Federal Open Market Committee increased the target range for the federal funds rate by the expected 50 basis points to 0.75-1.00%. An acknowledgment of negative GDP growth in 1Q 2022 is counter-balanced by assertions that personal consumption and business investment remain strong, an upgraded characterization of employment growth to […] More
Central Bank Watch
FOMC Preview
May 4, 2022
Not much could have been said by officials in the seven weeks since the first FOMC hike to prepare markets for a doubling of the rate hike increment to 50 basis points. This will be the first hike of a half percentage point since May 2000. With that prospect in mind, the 10-year U.S. Treasury […] More
New Overnight Developments Abroad - Daily Update
Central Banks in India and Iceland Jump the Gun on Fed
May 4, 2022
A 50-basis point interest rate hike later today is virtually baked into the Federal Open Market Committee decision. The last hike of more than 25 bps was in May 2000. Analysts anticipate forceful forward guidance language as well. The announcement is set for 14:00 EDT (18:00 GMT), and Chairman Powell’s press conference begins 30 minutes […] More
