Central Bank Watch
FOMC Statement and Powell Press Conference
February 1, 2023
The FOMC agreed to the as-expected 25-basis point interest rate hike, lifting the federal funds target range to 4.50-4.75%, and to continuing the balance sheet reduction by not reinvesting all maturing assets purchased when the Fed was easing in a quantitative way. Not only was the size of the interest rate hike the smallest since […] More
Central Bank Watch
FOMC Preview
February 1, 2023
Beginning last March, the federal funds rate target was increased at the last seven scheduled FOMC meetings in 2022 by a total 425 basis points to a range of 4.25-4.50%. Forward guidance has lately been framed around three questions: how much to lift at each instance — how high does the rate need to be […] More
New Overnight Developments Abroad - Daily Update
Much More Than an FOMC Announcement Day
February 1, 2023
The FOMC policy statement at 19:00 GMT today (14:00 EST) will be followed half an hour later by the start of Chairman Powell’s press conference. Officials are expected to raise the target federal funds corridor by 25 basis points to 4.50-4.75%. This is the first scheduled FOMC meeting of 2023 and therefore the one in […] More
