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Powell and ‘Fed Girls’ speak this week and give clues about November tightening

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Fed Chair Jerome Powell returns to speech in the last week of September after saying there will be sacrifice in US activity and employment (Image: Reuters/Joshua Roberts)

after the Federal Reserve promote the third increase followed by 0.75 percentage point (pp) in the interest rate of United States this week and Jerome Powell assert that the Fed is prepared to sacrifice the growth and the jobs to ensure that the inflation back to the target, the economic calendar for the last week of September is quite light.

Among the relevant events, the highlights were members of the Federal Open Market Committee (FOMC); The speeches should set the tone for the pace of monetary tightening in the last two meetings of the year.

aggressive tone

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On Wednesday (28), Powell returns to the scene at an event in St. Louis, accompanied by Michelle Bowman, who is a member of the Fed’s Board and is entitled to vote on the FOMC this year. On Friday (30), it is she who returns to the scene, during an event at the International Finance Institute (IIF).

On the same day, Fed Vice President Lael Brainard speaks at an event sponsored by the Fed in New York. She also has the right to vote on the Fomc this year.

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For ING, given the worsening FOMC forecasts for interest rates and key macroeconomic variables, comments from Fed officials tend to maintain an aggressive tone (“hawkish”). “And that suggests a new high of 0.75 in November, with increases likely to come strong and fast,” says the Dutch bank.

Featured real estate sector

Although the economic calendar in the US brings data on activity and inflation, ING draws attention to the numbers of the real estate sector. “With mortgage rates now firmly above 6%, more trouble is coming to the housing market, where a recession is already underway,” analysts James Knightley and Bert Colijn said in a report.

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Source: Moneytimes

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