Harriet Torry
speaker
611 appearances
11 recordings
1 series
first heard Sep 2017
last heard Dec 2024
Harriet Torry’s voice in public audio — every appearance, attributed to the second.
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Appearances
And that's why we need higher rates is because, you know, inflation could suddenly spike.
So it's interesting.
It seems that there are quite a few theories sort of doing the rounds.
You know, perhaps there's more slack in the labor market than we thought.
But yeah, it's just ongoing concerns about low inflation.
So the Fed's preferred measure of inflation is the PCE measure, and that was 1.6% in September.
And then core PCE, which is the number that you have when you strip out volatile prices for food and energy.
was only 1.3%, which might have had something to do with the hurricanes that happened in the late summer.
So still quite a long way off from 2%.
And the Fed has also been saying the inflation target is symmetric, which suggests that they'd be happy for it to go over 2%.
But really, it hasn't shown much sign that it's doing that.
So this is the big thing in the minutes.
The market's expectations for a rate increase in December have been extremely high for quite a long time now.
And the mention that
a short-term rate increase would be warranted in the near term appeared to sort of confirm that about December and about the immediate path of rates.
But these constant worries about inflation do raise some questions about how quickly the Fed will raise rates next year.
Quite possibly.
When the Fed last met in September, they penciled in one further rate increase for 2017 and three for 2018.
So at the moment, they're looking at three next year.
And at the December meeting, they will again submit forecasts.
Showing 501–520 of 611 · page 26 of 31
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