Powell's 'restrictive' emphasis maximizes Fed flexibility: McGeever [Reuters]
Bank of America Corporation (BAC)
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Source: Reuters
policymakers that U.S. monetary policy could stay "restrictive" rather than "higher" for longer should not be overlooked. While it may just seem like semantics, Fed Chair Jerome Powell and Vice Chair Philip Jefferson 's language increases the Fed's flexibility on the near-term interest rate path and should ultimately cool nascent speculation that the next move could even be a hike. Speaking at separate events in Washington on April 16, Powell and Jefferson both said policy could stay "restrictive" for longer if inflation doesn't show clear signs of getting back down to the Fed's 2% target. Other Fed officials, most notably Atlanta Fed President Raphael Bostic , have spoken more bluntly on the possibility of raising rates, and traders have slashed the degree of expected policy easing this year to 40 basis points from 160 basis points in January. Report this ad The drum beat for no rate cuts at all this year is getting louder, so much so that talk of a possible rate hike is no
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- 4/16/24 - Beat
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Sec Filings
- 5/2/24 - Form 424B2
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- 5/1/24 - Form FWP
- BAC's page on the SEC website