The Fed

Is this the Fed's last hike?

The Federal Deposit Insurance Corporation seized First Republic Bank in the early hours of 1 May and sold most of its assets and deposits to JPMorgan Chase straight away.

OPEC just made the Fed's job harder

OPEC+ surprised oil markets on Sunday, 2 April, by announcing a production cut of 1.16 million barrels per day.

Are bank failures doing the Fed's job for it?

Emergency Fed lending to banks is approaching $300 billion, according to the central bank's H.4.1 release, and that has undone months of quantitative tightening in a matter of days.

The Fed's quiet bailout of banks' bad bond bets

Banks borrowed a record $152.9 billion from the Federal Reserve's discount window, according to the H.4.1 balance-sheet release published on Thursday, 16 March.

Powell signals bigger hikes are back

Jerome Powell told the Senate Banking Committee that the Federal Reserve is ready to go back to rate rises of 50 basis points if the economic data stay hot.

Valentine's Day: Markets still love rate cuts. The Fed doesn't love them back

January's consumer prices rose at a 6.4 per cent annual pace, the Bureau of Labor Statistics said on Valentine's Day, and markets' eighteen-month infatuation with Federal Reserve rate cuts was once again shown to be one-sided.

The inflation number the Fed secretly cares about

US consumer prices rose 6.5 per cent in the year to December, confirming that headline inflation is coming down from its summer peak.

The Fed and the market disagree. Someone is wrong

The Federal Open Market Committee raised its policy rate to a range of 4.25 to 4.50 per cent in December and published projections showing a peak of 5.1 per cent in 2023.

$2trn is sitting at the Fed doing nothing

Why slowing down could mean the Fed goes higher

Interest-rate futures are pricing a fourth consecutive 75-basis-point rise at the Federal Open Market Committee's November meeting, which would take the policy rate to 3.75 to 4.00 per cent.

Nineteen Fed officials, nineteen different futures

The inflation the Fed can't fix: your haircut and your dentist

The August consumer price index showed core prices up 0.6 per cent on the month, and with it the limits of monetary policy.

The Fed has found its cheapest weapon: going big early

The Federal Reserve has found that speed is cheap. By front-loading its rate rises, delivering the big increases at the start of the tightening cycle, it hopes to reduce the total cost of the adjustment that follows.