Monetary policy

Federal Reserve officials, meeting for the last time under Chair Janet Yellen, left borrowing costs unchanged.

Will President Trump trumpet infrastructure in his State of the Union address? Will there be specifics on a plan? Will the Federal Open Market Committee recommend a rate hike? The market will be watching.

With rotation of voters, tax reform, and an uptick in a key inflation measure, there’s still much at issue in a Fed meeting where no rate hike is expected.

Payden & Rygel Chief Economist Jeffrey Cleveland says estimates for the fed funds rate are too low and the Phillips curve’s death has been greatly exaggerated. Hosted by Gary Siegel.

The chief executive officer of Morgan Stanley said he’s more worried that the stock market has reached record highs in recent months.

Federal Reserve Governor Jerome Powell was confirmed with broad bipartisan support in the Senate to take the helm of the U.S. central bank when Chair Janet Yellen’s term ends Feb. 3.

The Federal Reserve’s 2% inflation target has come under attack, with alternative frameworks and changes to the standard discussed.

The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.

The gradual rate hikes will continue even as inflation remains below the Federal Reserve’s 2% target, Federal Reserve Bank of Boston President Eric Rosengren said Friday.

Although he continues to maintain that two rate hikes this year are appropriate, Federal Reserve Bank of Philadelphia President Patrick Harker said Friday he is closely monitoring the flattening yield curve.