FOMC

Federal Reserve Chair Janet Yellen gave no indication her plans for continued monetary policy tightening had shifted while acknowledging that some asset prices had become “somewhat rich.”

Federal Reserve Vice Chairman Stanley Fischer pointed to higher asset prices as well as increased vulnerabilities for both household and corporate borrowers in warning against complacency when gauging the safety of the global financial system.

One more rate hike should remain appropriate this year, Federal Reserve Bank of Philadelphia President Patrick Harker said Tuesday, although he said he thinks it will take a little longer than he expected for inflation to hit the Fed’s 2% target.

As financial conditions ease, it supports the Federal Reserve's decision to remove accommodation, Federal Reserve Bank of New York President William Dudley said on Sunday.

Federal Reserve policymaker John Williams made the case on Monday for further gradual increases in interest rates, saying he expects inflation to rise to the central bank’s 2 percent target next year as unemployment edges lower.

The economy is strong enough for gradual rate hikes to continue, despite the fact there may be a few more weak inflation reports coming, Federal Reserve Bank of Cleveland President Loretta Mester said Friday, according to published reports.

The Federal Reserve can be patient in setting monetary policy and the current rate may be the right level for the forecast horizon, Federal Reserve Bank of St. Louis President James Bullard said Friday.

Federal Reserve Chair Janet Yellen’s candidacy for another term is encountering resistance from some Trump administration advisers who want a new leader at the U.S. central bank, according to two administration officials, even as the Treasury secretary indicated she may still be in the running.

Low interest rates raise issues about financial stability and policymakers must take heed, Federal Reserve Bank of Boston President Eric Rosengren said Tuesday.

Federal Reserve officials need to show a commitment to reaching their goal on inflation, which has generally been running below target since the financial crisis, Chicago Fed President Charles Evans said.

Federal Reserve Vice Chairman Stanley Fischer said a long period of low interest rates may have contributed to “high and rising” home prices in several countries, cautioning against forgetting the lessons of the 2007-09 housing crisis.

President Donald Trump’s budget director said he expects the Federal Reserve to continue to run an easy monetary policy even as it unwinds the “unprecedented experiment” that swelled its balance sheet to $4.5 trillion.

Federal Reserve Board Chair Janet Yellen said she has had no conversations with President Trump about her future as Fed chair.

Federal Reserve officials forged ahead with an interest-rate increase and additional plans to tighten monetary policy despite growing concerns over weak inflation.

The Federal Open Market Committee voted to raise the fed funds rate target 25 basis points to between 1% and 1.25%.

The Federal Reserve is on track to begin unwinding its balance sheet this year or next, although U.S. central bankers are not in a rush to tighten and will take care to ensure their actions don’t trigger disruptions that harm the global economy, Federal Reserve Bank of New York President William Dudley said.

The Federal Reserve should begin shrinking its balance sheet this year and put the reductions “on autopilot,” Federal Reserve Bank of Kansas City President and CEO Esther L. George said Tuesday.

If the economy grows as expected, further rate hikes will be necessary, although they should be gradual, not one every Federal Open Market Committee meeting, Federal Reserve Bank of Cleveland President and CEO Loretta J. Mester said Monday.

The fed funds rate target is not far from the appropriate level, given the low natural rate of interest, Federal Reserve Bank of St. Louis President James Bullard said Monday.

Federal Reserve Bank of San Francisco President John Williams said his outlook hasn’t changed: he still expects three or four rate hikes and the beginning of reducing the Fed balance sheet to begin later this year.