San Francisco Federal Reserve Bank president Mary Daly said on Thursday that while a 50 basis point rate hike next month "makes sense" given economic data, she'd be open to a bigger hike if necessary. The rate is currently in the 2.25%-2.5% range.
Furthermore, Minneapolis Fed President Neel Kashkari said he hadn't "seen anything that changes" the need to raise the Fed's policy rate to 3.9% by year-end and to 4.4% by the end of 2023.Odds of a 75 bps hike in September were as high as 68% earlier in the week, but are now around 34%, where they were a week ago.
"The key question is how far and how fast it will fall. We believe inflation will be quite sticky and central banks will need to be more hawkish than consensus." In commodities, Brent crude oil futures fell 54 cents to $98.06 a barrel. U.S. West Texas Intermediate crude was also down, dropping 55 cents to $93.79.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Salon shooting suspect indicted for anti-Asian hate crimeA man accused of shooting three Asian American women at a hair salon has been indicted on multiple counts, including committing a hate crime.
Source: KPRC2 - 🏆 80. / 68 Read more »
Busan’s Project Market Returns to Full Strength, Excludes Non-Asian TitlesThe Asian Project Market, the film financing event attached to the Busan festival’s Asian Contents & Film Market, will return this year as an in-person event. To increase the focus on regional…
Source: Variety - 🏆 108. / 63 Read more »
Asian web3 accelerator LongHash Ventures announces $100 million fundLongHash Ventures Fund II will focus on pre-seed to Series A-stage startups building out multi-chain web3 infrastructure. Whyy ain't none bothered on talkiing about this?
Source: TheBlock__ - 🏆 464. / 53 Read more »
Megan Thee Stallion teams up with Houston rappers on new album ‘Traumazine,’ out FridayHot girl summer is here again. Megan Thee Stallion will release 'Traumazine,' her second full-length album, on Friday. The Houston rapper made the announcement Thursday.
Source: HoustonChron - 🏆 609. / 51 Read more »
Woodlawn Theatre debuts production of classic musical A Chorus Line on Friday, Aug. 12The show's three-week run includes a handful of Community Appreciation Nights. SanAntonio SATX SanAntonioTX ThingsToDoInSanAntonio theatre theater SanAntonioArts
Source: SAcurrent - 🏆 607. / 51 Read more »
'It's Hard Being a Woman During the Apocalypse' opens at Clamp Light Artist Studios & Gallery FridayThe show features new work from Sarah Fox, Loot Achris and Ashley Mireles. SanAntonio SATX SanAntonioTX ThingsToDoInSanAntonio VisualArt SanAntonioArts clamplightart
Source: SAcurrent - 🏆 607. / 51 Read more »