President Joe Biden Tweets ‘At this point last year, the Fed projected 5% growth in 2021. Now, they’re projecting 7% growth. Our economic plans are working — and we can’t stop now.’
https://twitter.com/POTUS/status/1407012345260523532
Economist Reacts To Flattening Yield Curve
The Federal Reserve shifted market expectations in a significant way on Wednesday with its updated dot plot projections and commentary related to inflation.
USA Leading Index (MoM) for May 1.300% vs 1.300% Est; Prior 0.600%
USA Leading Index (MoM) for May 1.300% vs 1.300% consensus estimate. The prior reading was 0.600%.
Fed Maintains Interest Rates, Continues Asset Purchases, Forecasts 2023 Rate Hike
The Federal Reserve maintained its target fed funds rate range of between zero and 0.25%. The Fed also reassured investors it will continue to support the economy via asset purchases while the U.S. recovers from the pandemic.
5 Things You Might Not Know About Federal Reserve Chair Jerome Powell
Jerome Powell was sworn in on Feb. 5, 2018 as the 16th chairman of the Federal Reserve. In the role, Powell is tasked with steering America’s economy.
Here is a look at some things you might not know about Powell.
USA Export Prices (MoM) for May 2.200% vs 0.800% Est; Prior 0.800%
USA Export Prices (MoM) for May 2.200% vs 0.800% consensus estimate. The prior reading was 0.800%.