Federal Reserve Bank of Kansas City

Jeffrey R. Schmid will assume Esther George's former role on August 21.

Federal Reserve Bank of Kansas City President Esther George said the U.S. central bank should raise its benchmark interest rate above 5% and hold it there well into 2024 to bring inflation down.

Federal Reserve Bank of Kansas City President Esther George, who dissented last month against the central bank’s jumbo 75 basis-point increase in interest rates, cautioned that rushing to tighten policy could backfire.

Federal Reserve Bank of Kansas City President Esther George said she opposed the Fed’s biggest interest-rate increase in almost three decades because the move, combined with the shrinking of the central bank’s balance sheet, created uncertainty about the outlook.

George's departure will come around the same time that Chicago Fed chief Charles Evans steps down. Both will have turned 65.

Federal Reserve Bank of Kansas City President Esther George said she expects the central bank to raise interest rates to 2% by August, with the further course of tightening being guided by how surging inflation cools off.

Federal Reserve Bank of Kansas City President Esther George said the “rough week in the equity markets” was not surprising, partially reflecting the central bank’s policy tightening, and doesn’t alter her support for half-point interest-rate hikes to cool inflation.

Separately, Atlanta Fed President Raphael Bostic said the FOMC wouldn't raise rates in response to a “hot” labor market, out of fear over subsequent inflation.

The Federal Reserve’s prestigious annual Jackson Hole policy symposium will be held in person this year, albeit in a modified form.

A reported preliminary 25.8% drop in May issuance shows how strong fund inflows, improving credit and the reopening of governments are keeping the muni market issuer friendly.

Federal Reserve officials said the economy continues to be disrupted by the pandemic with one regional central bank chief dismissing the threat that inflation could get out of hand.

Federal Reserve Bank of Kansas City President Esther George said the U.S. central bank was still “far away” from achieving its goals and it was premature to start a debate on scaling back its massive bond-buying program.

The Federal Reserve Bank of Philadelphia's manufacturing index fell to a seventh- month low, while jobless claims hit a three-month high.

Jobless claims fell to below 800,000, existing home sales soared, leading indicators rose more than expected and the Kansas City Fed manufacturing index also climbed in the latest reading.

While not a huge gain, "claims remain staggeringly high" six months into the economic downturn, analysts say.

The economy continues on a fragmented recovery from the pandemic, with the housing market being a positive sign and labor having issues.

Federal Reserve Bank of Kansas City President Esther George, who has been among the most hawkish Fed policy makers, doesn’t oppose some overshooting of the central bank’s 2% inflation target and sees more risk of price pressures being too weak than too strong.

Initial jobless claims increased for the first time since March, causing some to worry about the economic recovery.

The Federal Reserve could discuss yield curve control, but some feel it may not be needed.

Two Federal Reserve presidents say it's gotten harder to predict what will happen with the economy.