Monetary policy

John Williams, who also serves as vice chair of the Federal Open Market Committee, does not expect the Federal Reserve to slow its balance sheet runoff anytime soon.

Musalem, an economist, is a former executive vice president of the Federal Reserve Bank of New York.

"A soft landing is increasingly conceivable but in no way inevitable," Barkin, who will vote on policy decisions this year, said in the text of a speech Wednesday.

"It's important that we start to move rates down," Harker said Wednesday in a local radio interview. "We don't have to do it too fast, and we're not going to do it right away."

The Federal Open Market Committee meets Dec. 12 and 13 and in addition to their statement, they will issue a Summary of Economic Projections.

Federal Reserve Bank of New York President John Williams said it's too early for officials to begin thinking about cutting rates as soon as March as they consider whether policy is restrictive enough to get inflation back to 2%.

The Federal Open Market Committee's Summary of Economic Projections probably won't offer the 130 basis points of cuts next year that the market expects.

All eyes are on the Federal Reserve and monetary policy. Join us as Scott Anderson, chief U.S. economist and managing director at BMO Economics, breaks down the latest FOMC meeting.

This could be the first time the bond market has posted three consecutive negative total return years, according to John Hancock Investment Management Co-Chief Investment Strategist Matt Miskin.

"That is not how you drive policy and it's certainly not how you drive policy when the impact of policy happens with a lag," Mohamed El-Erian said. "This is the first Fed I know that has not gotten it."

"Regardless of the decision made at our next meeting, if the economy evolves as anticipated, in my view, we are likely near or at a holding point on the funds rate," Federal Reserve Bank of Cleveland President Loretta Mester said.

"I believe we can wait, watch and see how the economy evolves before making definitive moves on the path of the policy rate," Federal Reserve Governor Christopher Waller said.

"Financial markets are tightening up and they are going to do some of the work for us," Federal Reserve Gov. Christopher Waller said in a conversation moderated by Paul Ryan.

The Federal Reserve is expected to pause at its September meeting. Jeff Timlin, a managing partner at Sage Advisory, will join us on Sept. 21 to provide analysis of the meeting.

Daly said the neutral interest rate — also known as R-star — may be higher now than it was before the pandemic

Despite recent improvements, "inflation remains well above the FOMC's 2% target. Domestic spending has continued at a strong pace, and the labor market remains tight," Bowman said Wednesday.

"The inflation rate is still too high, the level of inflation remains high, but at least we're seeing progress on it," Mester said Friday during an interview with CNN International.

"If we continue to see a cooling labor market and inflation heading back to our target, we can hold interest rates steady and let the effects of policy continue to work," Daly said.

With the Federal Open Market Committee expected to skip an interest rate hike, all eyes turn to the Summary of Economic Projections and Chair Powell's remarks.

"Although inflation has moved down from its peak — a welcome development — it remains too high," Powell said in the text of a speech Friday at the U.S. central bank's annual conference in Jackson Hole, Wyoming.