CLEVELAND, Ohio (August 2, 2018) – Rick Kaglic has been named vice president and senior regional officer of the Cincinnati Branch of the Federal Reserve Bank of Cleveland effective September 4, 2018. Kaglic will serve as the Bank’s senior official in the Cincinnati region, which includes southwestern Ohio and Eastern Kentucky. He will be responsible for managing relationships with regional stakeholders, monitoring the region’s economic environment, and conducting economic research and analysis. He will also manage the Bank’s relationship with the board of directors of the Cincinnati Branch and with business advisory councils in Cincinnati, Dayton, and Lexington. “Rick has spent much of his career analyzing and monitoring regional economic conditions, and has advised senior management at two reserve banks, in state government, and in the private sector,” says Guhan Venkatu, group vice president of the regional analysis and outreach unit in the … [Read more...] about Federal Reserve Bank of Cleveland appoints Kaglic as VP, senior regional officer of Cincinnati branch
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Associated Press August 01, 2018 WASHINGTON (AP) — The Federal Reserve is leaving its benchmark interest rate unchanged while signaling further gradual rate hikes in the months ahead as long as the economy stays healthy.The Fed’s decision left the central bank’s key short-term rate at 1.75 percent to 2 percent — the level hit in June when the Fed boosted the rate for a second time this year.The Fed projected in June four rate hikes this year, up from three in 2017. Private economists expect the next hike to occur at the September meeting. Advertisement In a brief policy statement, the Fed notes a strengthening labor market, economic activity growing at ‘‘a strong rate,’’ and inflation that’s reached the central bank’s target of 2 percent annual gains. Officials see economic risks as roughly balanced. … [Read more...] about Federal Reserve keeps benchmark rate unchanged
WASHINGTON—The Federal Reserve held short-term interest rates steady Wednesday and offered an upbeat assessment of the economy’s performance, suggesting another interest-rate increase is likely at its next meeting. The Fed, in a statement released after its two-day policy meeting that repeatedly emphasized the economy’s strength, offered nothing to dispel market expectations that it would deliver its third interest-rate increase of the year when it meets in late September.... … [Read more...] about Federal Reserve Holds Rates Steady, Says Economy Is Strong
opinion Robert Robb Arizona Republic Published 10:00 p.m. UTC Aug 1, 2018 In terms of Trump earthquakes, it was just a tremor. Nevertheless, the political seismograph quivered when President Donald Trump said he wasn’t happy about the Federal Reserve raising interest rates. This threatened the independence of the Fed, according to the political seismologists. I happened to think that Trump is dead wrong about interest rates. But by expressing a view, Trump wasn’t threatening the independence of the Fed. And the value of an independent central bank making up monetary policy on the fly is increasingly in doubt anyway. Trump sees interest rates through two perspectives. From the standpoint of a borrower, which Trump largely was in his professional life, low interest rates fuel business expansions. As president, Trump is fixated on trade balances. A weaker dollar advantages exports and disadvantages imports. So, Trump is a weak dollar guy. Fed distorts the interest … [Read more...] about Donald Trump is a weak dollar guy. He’s wrong about the Federal Reserve, but he’s not a threat to its independence.
0 COMMENTS By Nick Timiraos Nick Timiraos The Wall Street Journal BiographyNick Timiraos @NickTimiraos Google+ [email protected] Aug. 1, 2018 5:30 a.m. ET Federal Reserve officials are likely to keep interest rates steady at their two-day policy meeting that concludes Wednesday. Their debate could center on where to set rates once they’ve lifted them to a more neutral setting that neither spurs nor slows economic growth. Officials may also discuss how to set rates—a technical issue separate from the question of how high to move them—and how much to let the central bank’s bond portfolio shrink. Fed Chairman Jerome Powell won’t hold a press conference after the meeting. The Fed has indicated it won’t be swayed by President Trump’s recent criticism of central-bank rate rises. Officials aren’t releasing new economic projections. The new policy statement, to be released at 2 p.m. EDT, will likely provide few clues about … [Read more...] about Federal Reserve Likely to Keep Rates Steady