Nearly All Fed Officials Expect More Interest Rate Hikes Will Be 'Appropriate' This Year, Powell Says (2024)

Breaking

1 hour ago

Some IVF Providers In Alabama Will Resume Procedure After Gov. Kay Ivey Signs Bill Protecting Them Into Law

2 hours ago

Powerball Jackpot Surges Past Half A Billion—Here’s What The Winner Gets To Take Home After Taxes

3 hours ago

Musk Says X Will ‘Definitely’ Hide Like And Repost Metrics From Timeline

10 hours ago

‘Rust’ Armorer Found Guilty Of Involuntary Manslaughter As Alec Baldwin Awaits Trial

10 hours ago

Legal Experts Say Fani Willis Unlikely To Be Disqualified As Judge Weighs Trump Challenge

11 hours ago

NTSB Says It’s ‘Absurd’ Boeing Still Hasn’t Provided 737 Max Information For Investigation

12 hours ago

House Passes Spending Bill In Effort To Avoid Partial Government Shutdown

12 hours ago

Trump Wants To Debate Biden—After Dodging GOP Debates

13 hours ago

Spain Bans Sam Altman’s Worldcoin Amid Data Collection Concerns

13 hours ago

Two Cargo Ship Crew Members Killed By Houthi Strike, U.S. Confirms

14 hours ago

Usage Of Elon Musk’s X Dropped 30% In The Last Year, Study Suggests

14 hours ago

Drake Bell’s Allegations Against Brian Peck: What To Know

14 hours ago

Why RFK Jr. Could Hurt Biden Against Trump—As He Gains Ballot Access In Key Swing State

14 hours ago

Who Is Colin Allred? Titans Linebacker-Turned-Congressman Challenging Texas Sen. Ted Cruz

14 hours ago

Apple Terminates Epic Games’ Developer Account—Claiming Fortnite Maker Is ‘Untrustworthy’

15 hours ago

Dean Phillips Drops Out Of Democratic Primary Race—Endorsing Biden After Long-Shot Challenge

15 hours ago

NYC's Subway Violence: Here's What Caused A New National Guard Crackdown

16 hours ago

Here’s Who’s Attending Biden’s State Of The Union—And Who Declined Invitations

16 hours ago

Prosecutors Abruptly Drop Charges During ‘Hotel California’ Lyrics Trial

16 hours ago

Crypto Exec Barry Silbert’s Firm Wants New York’s $3 Billion Genesis Fraud Suit Tossed Out—Calling It ‘Baseless’

1 hour ago

Some IVF Providers In Alabama Will Resume Procedure After Gov. Kay Ivey Signs Bill Protecting Them Into Law","scope":{"topStory":{"index":1,"title":"Some IVF Providers In Alabama Will Resume Procedure After Gov. Kay Ivey Signs Bill Protecting Them Into Law","image":"https://specials-images.forbesimg.com/imageserve/65e973e8951a8c7b49eb0b7f/290x0.jpg?cropX1=0&cropX2=3930&cropY1=277&cropY2=2487","isHappeningNowArticle":true,"date":"1 hour ago","uri":"https://www.forbes.com/sites/siladityaray/2024/03/07/some-ivf-providers-in-alabama-will-resume-procedure-after-gov-kay-ivey-signs-bill-protecting-them-into-law/"}},"id":"gn0a354a0d280"},{"textContent":"

2 hours ago

Powerball Jackpot Surges Past Half A Billion—Here’s What The Winner Gets To Take Home After Taxes","scope":{"topStory":{"index":2,"title":"Powerball Jackpot Surges Past Half A Billion—Here’s What The Winner Gets To Take Home After Taxes","image":"https://specials-images.forbesimg.com/imageserve/65e965e426dba975bb910343/290x0.jpg?cropX1=0&cropX2=3828&cropY1=240&cropY2=2394","isHappeningNowArticle":true,"date":"2 hours ago","uri":"https://www.forbes.com/sites/siladityaray/2024/03/07/powerball-jackpot-surges-past-half-a-billion-heres-what-the-winner-gets-to-take-home-after-taxes/"}},"id":"82ho2fl425o000"},{"textContent":"

3 hours ago

Musk Says X Will ‘Definitely’ Hide Like And Repost Metrics From Timeline","scope":{"topStory":{"index":3,"title":"Musk Says X Will ‘Definitely’ Hide Like And Repost Metrics From Timeline","image":"https://specials-images.forbesimg.com/imageserve/65e95e3ed2f9a067f3ce1653/290x0.jpg?cropX1=0&cropX2=5966&cropY1=0&cropY2=3353","isHappeningNowArticle":true,"date":"3 hours ago","uri":"https://www.forbes.com/sites/siladityaray/2024/03/07/musk-says-x-will-definitely-hide-like-and-repost-metrics-from-timeline/"}},"id":"f2omf4f4leao00"},{"textContent":"

10 hours ago

‘Rust’ Armorer Found Guilty Of Involuntary Manslaughter As Alec Baldwin Awaits Trial","scope":{"topStory":{"index":4,"title":"‘Rust’ Armorer Found Guilty Of Involuntary Manslaughter As Alec Baldwin Awaits Trial","image":"https://specials-images.forbesimg.com/imageserve/65e8fef5e8137582837b7f82/290x0.jpg?cropX1=0&cropX2=3000&cropY1=28&cropY2=1715","isHappeningNowArticle":true,"date":"10 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2024/03/06/rust-armorer-found-guilty-of-involuntary-manslaughter-as-alec-baldwin-awaits-trial/"}},"id":"1ig6o5md7h8c00"},{"textContent":"

10 hours ago

Legal Experts Say Fani Willis Unlikely To Be Disqualified As Judge Weighs Trump Challenge","scope":{"topStory":{"index":5,"title":"Legal Experts Say Fani Willis Unlikely To Be Disqualified As Judge Weighs Trump Challenge","image":"https://specials-images.forbesimg.com/imageserve/65e8ec9eda4d4897f7a3c570/290x0.jpg?cropX1=0&cropX2=3744&cropY1=0&cropY2=2107","isHappeningNowArticle":true,"date":"10 hours ago","uri":"https://www.forbes.com/sites/brianbushard/2024/03/06/legal-experts-say-fani-willis-unlikely-to-be-disqualified-as-judge-weighs-trump-challenge/"}},"id":"77fhmci0eiqk00"},{"textContent":"

11 hours ago

NTSB Says It’s ‘Absurd’ Boeing Still Hasn’t Provided 737 Max Information For Investigation","scope":{"topStory":{"index":6,"title":"NTSB Says It’s ‘Absurd’ Boeing Still Hasn’t Provided 737 Max Information For Investigation","image":"https://specials-images.forbesimg.com/imageserve/65e8e793719c4283698f9548/290x0.jpg?cropX1=0&cropX2=848&cropY1=0&cropY2=476","isHappeningNowArticle":true,"date":"11 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2024/03/06/ntsb-says-its-absurd-boeing-still-hasnt-provided-737-max-information-for-investigation/"}},"id":"bog7beaq334g00"},{"textContent":"

12 hours ago

House Passes Spending Bill In Effort To Avoid Partial Government Shutdown","scope":{"topStory":{"index":7,"title":"House Passes Spending Bill In Effort To Avoid Partial Government Shutdown","image":"https://specials-images.forbesimg.com/imageserve/65e8e4a6719c4283698f9542/290x0.jpg?cropX1=0&cropX2=2999&cropY1=120&cropY2=1807","isHappeningNowArticle":true,"date":"12 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2024/03/06/house-passes-spending-bill-in-effort-to-avoid-partial-government-shutdown/"}},"id":"4q8m4k3mrqh400"},{"textContent":"

12 hours ago

Lawsuit Alleges SpaceX Manager Sexually Harassed Employee And Offered $100,000 For Abortion","scope":{"topStory":{"index":8,"title":"Lawsuit Alleges SpaceX Manager Sexually Harassed Employee And Offered $100,000 For Abortion","image":"https://specials-images.forbesimg.com/imageserve/65e8e3ea9f59922a8e60ec12/290x0.jpg?cropX1=0&cropX2=2448&cropY1=126&cropY2=1503","isHappeningNowArticle":true,"date":"12 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2024/03/06/lawsuit-alleges-spacex-manager-sexually-harassed-employee-and-offered-100000-for-abortion/"}},"id":"5j1mbo8ma26g00"},{"textContent":"

12 hours ago

Trump Wants To Debate Biden—After Dodging GOP Debates","scope":{"topStory":{"index":9,"title":"Trump Wants To Debate Biden—After Dodging GOP Debates","image":"https://specials-images.forbesimg.com/imageserve/65e8de4039db3abc1785d0a6/290x0.jpg?cropX1=0&cropX2=2885&cropY1=0&cropY2=1621","isHappeningNowArticle":true,"date":"12 hours ago","uri":"https://www.forbes.com/sites/brianbushard/2024/03/06/trump-wants-to-debate-biden-after-dodging-gop-debates/"}},"id":"bg4lgrb3orjc00"},{"textContent":"

13 hours ago

Spain Bans Sam Altman’s Worldcoin Amid Data Collection Concerns","scope":{"topStory":{"index":10,"title":"Spain Bans Sam Altman’s Worldcoin Amid Data Collection Concerns","image":"https://specials-images.forbesimg.com/imageserve/655b6b37a193fb39a88c2dd5/290x0.jpg?cropX1=0&cropX2=2675&cropY1=87&cropY2=1591","isHappeningNowArticle":true,"date":"13 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2024/03/06/spain-bans-sam-altmans-worldcoin-amid-data-collection-concerns/"}},"id":"5m060b9cinkg00"},{"textContent":"

13 hours ago

Two Cargo Ship Crew Members Killed By Houthi Strike, U.S. Confirms","scope":{"topStory":{"index":11,"title":"Two Cargo Ship Crew Members Killed By Houthi Strike, U.S. Confirms","image":"https://specials-images.forbesimg.com/imageserve/65e8ccf8de6839c9be630b94/0x0.jpg","isHappeningNowArticle":true,"date":"13 hours ago","uri":"https://www.forbes.com/sites/zacharyfolk/2024/03/06/two-cargo-ship-crew-members-killed-by-houthi-strike-us-confirms/"}},"id":"35f7c198a8mk00"},{"textContent":"

14 hours ago

Usage Of Elon Musk’s X Dropped 30% In The Last Year, Study Suggests","scope":{"topStory":{"index":12,"title":"Usage Of Elon Musk’s X Dropped 30% In The Last Year, Study Suggests","image":"https://specials-images.forbesimg.com/imageserve/651df64e5c5352c0fc9fea54/290x0.jpg?cropX1=0&cropX2=2897&cropY1=0&cropY2=1929","isHappeningNowArticle":true,"date":"14 hours ago","uri":"https://www.forbes.com/sites/antoniopequenoiv/2024/03/06/usage-of-elon-musks-x-dropped-30percent-in-the-last-year-study-suggests/"}},"id":"9rrgm67fir9o00"},{"textContent":"

14 hours ago

Drake Bell’s Allegations Against Brian Peck: What To Know","scope":{"topStory":{"index":13,"title":"Drake Bell’s Allegations Against Brian Peck: What To Know","image":"https://specials-images.forbesimg.com/imageserve/65e8c131fe188c6205e69308/0x0.jpg","isHappeningNowArticle":true,"date":"14 hours ago","uri":"https://www.forbes.com/sites/ariannajohnson/2024/03/06/drake-bells-allegations-against-brian-peck-what-to-know/"}},"id":"7qibpedj1l2g00"},{"textContent":"

14 hours ago

Why RFK Jr. Could Hurt Biden Against Trump—As He Gains Ballot Access In Key Swing State","scope":{"topStory":{"index":14,"title":"Why RFK Jr. Could Hurt Biden Against Trump—As He Gains Ballot Access In Key Swing State","image":"https://specials-images.forbesimg.com/imageserve/65e8bc6c8362f001c1a7274d/0x0.jpg","isHappeningNowArticle":true,"date":"14 hours ago","uri":"https://www.forbes.com/sites/saradorn/2024/03/06/why-rfk-jr-could-hurt-biden-against-trump-as-he-gains-ballot-access-in-key-swing-state/"}},"id":"ekjlgq232b1o00"},{"textContent":"

14 hours ago

Who Is Colin Allred? Titans Linebacker-Turned-Congressman Challenging Texas Sen. Ted Cruz","scope":{"topStory":{"index":15,"title":"Who Is Colin Allred? Titans Linebacker-Turned-Congressman Challenging Texas Sen. Ted Cruz","image":"https://specials-images.forbesimg.com/imageserve/65e89e9dd6f413146ffaac36/290x0.jpg?cropX1=0&cropX2=2695&cropY1=28&cropY2=1544","isHappeningNowArticle":true,"date":"14 hours ago","uri":"https://www.forbes.com/sites/maryroeloffs/2024/03/06/who-is-colin-allred-titans-linebacker-turned-congressman-challenging-texas-sen-ted-cruz/"}},"id":"291d9dop230c00"},{"textContent":"

14 hours ago

Apple Terminates Epic Games’ Developer Account—Claiming Fortnite Maker Is ‘Untrustworthy’","scope":{"topStory":{"index":16,"title":"Apple Terminates Epic Games’ Developer Account—Claiming Fortnite Maker Is ‘Untrustworthy’","image":"https://specials-images.forbesimg.com/imageserve/65e8bcb0f9f9a895b656399d/290x0.jpg?cropX1=0&cropX2=2644&cropY1=208&cropY2=1697","isHappeningNowArticle":true,"date":"14 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2024/03/06/apple-terminates-epic-games-developer-account-claiming-fortnite-maker-is-untrustworthy/"}},"id":"di4mgbp9kg5400"},{"textContent":"

15 hours ago

Dean Phillips Drops Out Of Democratic Primary Race—Endorsing Biden After Long-Shot Challenge","scope":{"topStory":{"index":17,"title":"Dean Phillips Drops Out Of Democratic Primary Race—Endorsing Biden After Long-Shot Challenge","image":"https://specials-images.forbesimg.com/imageserve/65e8b62909c75e7f381fb18f/290x0.jpg?cropX1=0&cropX2=2559&cropY1=44&cropY2=1483","isHappeningNowArticle":true,"date":"15 hours ago","uri":"https://www.forbes.com/sites/caileygleeson/2024/03/06/dean-phillips-drops-out-of-democratic-primary-race-endorsing-biden-after-long-shot-challenge/"}},"id":"ojp7p9ife0rg0"},{"textContent":"

15 hours ago

NYC's Subway Violence: Here's What Caused A New National Guard Crackdown","scope":{"topStory":{"index":18,"title":"NYC's Subway Violence: Here's What Caused A New National Guard Crackdown","image":"https://specials-images.forbesimg.com/imageserve/65e8b535344eef5e092ad6ed/290x0.jpg?cropX1=0&cropX2=2639&cropY1=136&cropY2=1619","isHappeningNowArticle":true,"date":"15 hours ago","uri":"https://www.forbes.com/sites/mollybohannon/2024/03/06/nycs-subway-violence-heres-what-caused-a-new-national-guard-crackdown/"}},"id":"8a51kf4e1co80"},{"textContent":"

16 hours ago

Here’s Who’s Attending Biden’s State Of The Union—And Who Declined Invitations","scope":{"topStory":{"index":19,"title":"Here’s Who’s Attending Biden’s State Of The Union—And Who Declined Invitations","image":"https://specials-images.forbesimg.com/imageserve/65e8a1bcd31e91ceef72656c/0x0.jpg","isHappeningNowArticle":true,"date":"16 hours ago","uri":"https://www.forbes.com/sites/anafa*guy/2024/03/06/heres-whos-attending-bidens-state-of-the-union-and-who-declined-invitations/"}},"id":"195j7m3k5b6600"},{"textContent":"

16 hours ago

Prosecutors Abruptly Drop Charges During ‘Hotel California’ Lyrics Trial","scope":{"topStory":{"index":20,"title":"Prosecutors Abruptly Drop Charges During ‘Hotel California’ Lyrics Trial","image":"https://specials-images.forbesimg.com/imageserve/65e8a510325edf0d73700e41/290x0.jpg?cropX1=80&cropX2=2528&cropY1=109&cropY2=1485","isHappeningNowArticle":true,"date":"16 hours ago","uri":"https://www.forbes.com/sites/caileygleeson/2024/03/06/prosecutors-abruptly-drop-charges-during-hotel-california-lyrics-trial/"}},"id":"ip46p6rje72o0"},{"textContent":"

16 hours ago

Crypto Exec Barry Silbert’s Firm Wants New York’s $3 Billion Genesis Fraud Suit Tossed Out—Calling It ‘Baseless’","scope":{"topStory":{"index":21,"title":"Crypto Exec Barry Silbert’s Firm Wants New York’s $3 Billion Genesis Fraud Suit Tossed Out—Calling It ‘Baseless’","image":"https://specials-images.forbesimg.com/imageserve/65e8a3b76e93059cbb2e4441/290x0.jpg?cropX1=0&cropX2=4000&cropY1=192&cropY2=2440","isHappeningNowArticle":true,"date":"16 hours ago","uri":"https://www.forbes.com/sites/tylerroush/2024/03/06/crypto-exec-barry-silberts-firm-wants-new-yorks-3-billion-genesis-fraud-suit-tossed-out-calling-it-baseless/"}},"id":"8h8enheqr0lc00"}],"breakpoints":[{"breakpoint":"@media all and (max-width: 767px)","config":{"enabled":false}},{"breakpoint":"@media all and (max-width: 768px)","config":{"inView":2,"slidesToScroll":1}},{"breakpoint":"@media all and (min-width: 1681px)","config":{"inView":6}}]};

Nearly All Fed Officials Expect More Interest Rate Hikes Will Be 'Appropriate' This Year, Powell Says (2024)

FAQs

What is Powell saying about interest rates? ›

WASHINGTON, April 16 (Reuters) - Top U.S. central bank officials including Federal Reserve Chair Jerome Powell backed away on Tuesday from providing any guidance on when interest rates may be cut, saying instead that monetary policy needs to be restrictive for longer and further dashing investors' hopes for meaningful ...

When the Fed raises interest rates it expects? ›

I do think that inflation will continue to moderate." The Fed has sought to slow inflation by keeping interest rates elevated. By making it more expensive for businesses and consumers to borrow money, including through credit cards, the Fed hopes to reduce demand for goods and services, thereby reducing price growth.

What will happen if Fed hikes rates? ›

How does raising interest rates help inflation? The Fed raises interest rates to slow the amount of money circulating through the economy and drive down aggregate demand. With higher interest rates, there will be lower demand for goods and services, and the prices for those goods and services should fall.

What did the Fed say about future interest rates? ›

The Federal Reserve is meeting again from April 30 to May 1, 2024, and consumers are looking to see if interest rates will be lowered. At its March 2024 gathering the Fed decided to keep the federal funds target rate at 5.25% to 5.5%, where it has remained since July 2023.

What did Jerome Powell do with interest rates? ›

Just six weeks ago, Fed Chair Jerome Powell and his colleagues penciled in three rate cuts this year. That now looks very much in doubt. A slew of hotter-than-expected economic data has given the Fed no reason to give the economy an assist by cutting rates after hiking them aggressively over the past two years.

Is Fed raising interest rates good or bad? ›

Higher interest rates can make borrowing money more expensive for consumers and businesses, while also potentially making it harder to get approved for loans. On the positive side, higher interest rates can benefit savers as banks increase yields to attract more deposits.

Who makes money when Fed raises interest rates? ›

Financials First. The financial sector has historically been among the most sensitive to changes in interest rates. With profit margins that actually expand as rates climb, entities like banks, insurance companies, brokerage firms, and money managers generally benefit from higher interest rates.

What is the Fed interest rate today? ›

During its May meeting, the Federal Reserve unanimously voted to hold policy rates steady for the sixth consecutive time, leaving the federal funds target rate unchanged at 5.25% to 5.5%.

Will interest rates go down in 2024? ›

Most major forecasters expect mortgage rates to go down later in 2024, but that depends on the path of inflation and when the Fed is able to start lowering the federal funds rate. If inflation doesn't show signs of slowing in the coming months, mortgage rates are unlikely to fall.

Are more Fed rate hikes expected? ›

However, inflation remains higher than anticipated and currently sits at 3.5%—well above the Fed's 2% target. The Fed expects to hold rates steady for now, though a cut may be coming before the end of the year.

Who benefits from interest rate hikes? ›

Unsurprisingly, bond buyers, lenders, and savers all benefit from higher rates in the early days. Bond yields, in particular, typically move higher even before the Fed raises rates, and bond investors can earn more without taking on additional default risk since the economy is still going strong.

Will stocks fall if Fed raises rates? ›

If the Federal Reserve raises the short-term federal funds target rate it controls (as it did in 2022 and 2023), it can have a detrimental effect on stocks. A higher interest rate environment can present challenges for the economy, which may slow business activity.

What is the Fed rate projection for 2024? ›

On Wednesday, March 20, 2024, the Federal Open Market Committee (FOMC) voted unanimously to hold the fed funds rate at a target range of 5.25%–5.50%. While the Committee's decision fell in line with expectations, market reaction focused on the quarterly Summary of Economic Projections.

What is the Fed rate forecast for 2024? ›

Table 1
U.S. rates forecasts
Level %--Quarterly average--
Q1 2024Q4 2024f
Fed funds rate5.335.26
10-yearr Treasury yield4.164.03
3 more rows
3 days ago

What is the interest rate prediction for 2024? ›

NAR: Rates Will Decline to 6.5% The National Association of Realtors expects mortgage rates will average 6.8% in the first quarter of 2024, rising to 7.1% in the second quarter, according to its latest Quarterly U.S. Economic Forecast.

What was the interest rate decision today? ›

Yet shifting economic winds and stubbornly high inflation have complicated policy makers' plans. On Wednesday, the Fed said it is keeping the federal funds rate in a range of 5.25% to 5.5%, the same level it has held since the central bank's July 2023 meeting.

Are they going to cut interest rates? ›

Key takeaways. The Federal Reserve is likely to cut interest rates at least once in 2024, with the largest share of officials expecting three cuts.

Top Articles
Latest Posts
Article information

Author: Trent Wehner

Last Updated:

Views: 5803

Rating: 4.6 / 5 (76 voted)

Reviews: 91% of readers found this page helpful

Author information

Name: Trent Wehner

Birthday: 1993-03-14

Address: 872 Kevin Squares, New Codyville, AK 01785-0416

Phone: +18698800304764

Job: Senior Farming Developer

Hobby: Paintball, Calligraphy, Hunting, Flying disc, Lapidary, Rafting, Inline skating

Introduction: My name is Trent Wehner, I am a talented, brainy, zealous, light, funny, gleaming, attractive person who loves writing and wants to share my knowledge and understanding with you.