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  • Jan 08, 2025

Fed minutes show Wall Street pushed back expected end of balance sheet drawdown

Wall Street's biggest banks have pushed back the expected endgame for the Federal Reserve's ongoing efforts to shrink the size of its balance sheet, according to meeting minutes for the Federal Reserve's most recent policy meeting. Banks told the Fed ahead of the December policy meeting that they saw this process ending in June of this year, a little later than what they had told the Fed ahead of the November policy meeting, the minutes of the December Federal Open Market Committee meeting said, recounting a briefing by a New York Fed official responsible for implementing monetary policy. The Fed's most recent meeting, held on Dec. 17-18, saw officials trim their interest rate target range by a quarter percentage point to between 4.25% and 4.5%, cut back expectations of future rate cuts and raise their estimated path for inflation.

  • Jan 08, 2025

Fed minutes show Wall Street pushed back expected end of balance sheet drawdown

Wall Street's biggest banks have pushed back the expected endgame for the Federal Reserve's ongoing efforts to shrink the size of its balance sheet, according to meeting minutes for the Federal Reserve's most recent policy meeting. Banks told the Fed ahead of the December policy meeting that they saw this process ending in June of this year, a little later than what they had told the Fed ahead of the November policy meeting, the minutes of the December Federal Open Market Committee meeting said, recounting a briefing by a New York Fed official responsible for implementing monetary policy. The Fed's most recent meeting, held on Dec. 17-18, saw officials trim their interest rate target range by a quarter percentage point to between 4.25% and 4.5%, cut back expectations of future rate cuts and raise their estimated path for inflation.

  • Jan 08, 2025

Gensler Says SEC Has More Work to Do on Crypto Regulation

(Bloomberg) -- Gary Gensler, the outgoing chair of the Securities and Exchange Commission, believes there’s more still to be done in regulating altcoins and intermediaries in the digital assets market. Most Read from BloombergNYC Condo Owners May Bear Costs of Landmark Green Building LawNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?Can States Hit the Brakes on Runaway Road

  • Jan 08, 2025

US weekly jobless claims at 11-month low amid labor market stability

WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labor market, though a slowdown in hiring has led some laid-off workers to experience long bouts of joblessness. Signs of a steadily cooling labor market could allow the Federal Reserve to keep interest rates unchanged in January against the backdrop of still high inflation. Fed Governor Christopher Waller said on Wednesday that he expected further rate cuts, adding that the pace of the reductions "will depend on how much progress we make on inflation, while keeping the labor market from weakening."

  • Jan 08, 2025

Fed Minutes Show Officials Were Eager to Slow Interest-Rate Cuts

(Bloomberg) -- Federal Reserve officials in December adopted a new stance on rate-cutting amid elevated inflation risks, deciding to move more slowly in the months ahead.Most Read from BloombergNYC Condo Owners May Bear Costs of Landmark Green Building LawNYC’s Subway Violence Deters Drive to Bring Workers Back to OfficeDutch Central Bank Restores Amsterdam’s ‘Ugliest Building’Can American Drivers Learn to Love Roundabouts?Can States Hit the Brakes on Runaway Roadbuilding?“Participants indicated

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