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Kansas City Fed: Market Volatility Should Not Prevent Rate Hikes

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Esther George Federal Funds Target Rate Federal Reserve Kansas City Fed U.S. Economy 2016-02-02 Brian Honea “My own view is that a pickup in economic growth, steady job gains and modestly higher core rates of inflation will warrant further increases.”Kansas City Fed President and CEO Esther George  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. The Best Markets For Residential Property Investors 2 days ago February 2, 2016 1,060 Views Kansas City Fed: Market Volatility Should Not Prevent Rate Hikes Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The U.S. economy is currently facing several headwinds along with volatility in financial markets, but this should not prevent rate hikes from occurring down the road, according to Kansas City Fed President and CEO Esther George in a speech delivered in Kansas City on Tuesday.“While taking a signal from such volatility is warranted, monetary policy cannot respond to every blip in financial markets,” George said. “Instead, a focus on economic fundamentals, such as labor markets and inflation, can help guard against monetary policy over- or underreacting to swings in financial conditions.”Despite those headwinds, which include low oil prices, which benefit consumers but weigh on oil producers; lower orders from abroad for many exporters in the U.S. due to the rise in the foreign exchange value of the U.S. dollar; and slower foreign demand for U.S. goods, George said she believes the U.S. economy “remains on track due to strong job gains,” which picked up in the last three months of 2015.In addition to job growth, there are more positives for the economy among all the headwinds.“Low gasoline prices and signs of faster wage growth should also add to consumers’ ability to increase spending,” George said. “And although financial markets have been volatile, household wealth remains at a high level, and house prices have been rising over the past four years. Certainly, the gains in jobs, wages and wealth have not been equally shared across households during the recovery, but overall, the general health of households’ financial situations is much improved since the financial crisis.”center_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Home / Daily Dose / Kansas City Fed: Market Volatility Should Not Prevent Rate Hikes Related Articles Demand Propels Home Prices Upward 2 days ago Subscribe George’s speech came one day after Fed Vice Chairman Stanley Fischer told an audience in New York that “the federal funds rate is likely to remain, for some time, below the levels that we expect to prevail in the longer run.” In her speech, George echoed Fischer’s sentiments that “monetary policy remains accommodative,” noting that “real interest rates continue to be negative and the Federal Reserve’s large portfolio of Treasury and mortgage-backed securities keeps downward pressure on longer-term rates.”On the topic of future rate increases, George said, “In communicating its intentions for further rate increases, the Committee has noted that it expects economic conditions will warrant only gradual increases in the fed funds rate, although adjustments ultimately depend on the incoming data. My own view is that a pickup in economic growth, steady job gains and modestly higher core rates of inflation will warrant further increases.”She added, “The exact timing of each move, however, is subject to the economic environment.”Click here to view the entire text of George’s speech. Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Previous: Morgan Stanley is the Latest Firm to Settle RMBS Claims Next: DS News Webcast: Wednesday 2/3/2016 Tagged with: Esther George Federal Funds Target Rate Federal Reserve Kansas City Fed U.S. Economylast_img read more

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