Fed is ‘way too tight’ and will have to consider cutting rates in 2023, says Wharton’s Jeremy Siegel
Jesse Pound CNBCDecember 15, 2022 The Federal Reserve is going too far in its fight against inflation and will be under pressure to reverse course next year, according to Wharton School of Business professor Jeremy Siegel. But Siegel pointed out that the Fed had repeatedly changed its forecast over the course of this year and […]
Strategists are gloomy on 2023 corporate earnings — and S&P 500 price targets
Bob Pisani CNBCDecember 14, 2022 Once again, the direction for trading for the rest of the year is boiling down to what Fed Chair Jerome Powell says at his press conference Wednesday afternoon. Bears think Powell and Co. will hike rates by 50 basis points (half a percentage point), as expected, but then will reveal […]
US INSIGHT: 72 Models Show 1 Part of Price Fight Going Fed’s Way
David Wilcox BloombergDecember 11, 2022 From the early days of the inflation outbreak in 2021, analysts and policymakers have feared that if rapid price gains persisted more than a few months, expectations might become unanchored, making the job of bringing actual inflation back down to 2% more difficult. Bloomberg Economics has run 72 models to […]
US Inflation Will Be Much Lower by End of 2023, Yellen Says
Jill Disis BloombergDecember 12, 2022 Yellen says she is ‘hopeful’ the labor market will be healthy CPI expected to have slowed to 7.3% in November: economists US Treasury Secretary Janet Yellen says inflation will be much lower by the end of next year, as long as there are no unanticipated shocks to the economy. “I […]
Consumers see inflation easing considerably in the next year, New York Fed survey shows
Jeff Cox CNBCDecember 12, 2022 Consumers grew more optimistic about inflation in November amid expectations that both food and energy price increases would be less severe in the coming year, according to a New York Federal Reserve survey released Monday. The central bank’s Survey of Consumer Expectations indicated that respondents see one-year inflation running at […]
Top Money Managers See Global Stocks Gaining in 2023
Sagarika Jaisinghani, Jan-Patrick Barnert, Ksenia Galouchko BloombergDecember 9, 2022 Some of the world’s biggest investors predict that stocks will see low double-digit gains next year, which would bring relief after global equities suffered their worst loss since 2008. Amid recent optimism that inflation has peaked — and that the Federal Reserve could soon start to change its tone— 71% […]
US Year-Ahead Inflation Expectations Fall to Lowest Since 2021
Reade Pickert and Augusta Saraiva BloombergDecember 9, 2022 One-year price views dropped to 4.6% in early December University of Michigan sentiment index climbed to 59.1 US short-term inflation expectations unexpectedly declined to the lowest level in more than a year and consumer sentiment picked up, helped by falling gasoline prices. Consumers expect prices will climb […]
US inflation powering ahead in October, inflation cooling
Lucy Nicholson ReutersDecember 1, 2022 U.S. consumer spending increased solidly in October, while inflation moderated, giving the economy a powerful boost at the start of the fourth quarter as it faces rising headwinds from the Federal Reserve’s aggressive monetary policy tightening.The labor market, the economy’s other pillar of support, continues to show resilience. The number […]
Senior Fed Economist Says Odds of Avoiding Recession Have Risen
Matthew Boesler BloombergNovember 18, 2022 Latest data raise soft-landing chances slightly, Raffo says Minneapolis Fed’s director of research speaks in interview (Bloomberg) A senior Federal Reserve economist said the latest data on consumer spending, wages and prices suggest the central bank’s chances of achieving a soft landing for the US economy have improved a bit […]
US Producer Prices Cool by More Than Forecast on Heels of CPI
Reade Pickert BloombergNovember 15, 2022 Index rose 8% from October 2021; up 0.2% from month earlier Core goods prices declined, while services costs also eased (Bloomberg) —US producer price growth stepped down in October by more than expected in the latest sign that inflationary pressures are beginning to ease. The producer price index for final demand advanced […]