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The Latest Breaking News from Philip Jefferson

Persistently high inflation is causing a split among Federal Reserve officials over next steps

The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed’s policies cloudier than at any time since it unleashed a streak of 10 straight rate hikes in March 2022

The Independent UK

Little progress has been made in curbing too high inflation, Fed's Jefferson says

Federal Reserve governor Philip Jefferson says inflation remains too high and there has been “little progress” made toward bringing it down to the central bank’s 2% target

The Independent UK

Biden taps Philip Jefferson to be Fed's vice chair, Kugler as first Hispanic on Fed board

President Joe Biden has nominated Philip Jefferson, a member of the Federal Reserve’s Board of Governors, to serve as vice chair of the board

The Independent UK

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Stock Index Futures Muted as Bond Yields Tick Higher Amid Easing Banking Fears

June S&P 500 futures (ESM23) are down -0.10%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.20% this morning after the Dow and S&P 500 closed in the green on Monday as a buyout deal for the failed Silicon Valley Bank calmed investor concerns about the banking sector, while…

Barchart

Stock Index Futures Muted as Bond Yields Tick Higher, Bank Stocks Extend Recovery

Barchart

S&P Futures Tick Higher as Easing Banking Woes Boost Sentiment

June S&P 500 futures (ESM23) are trending up +0.06% this morning as a buyout deal for the failed Silicon Valley Bank calmed investor worries about problems in the banking sector.

Barchart

House GOP’s energy bill hitting the floor amid market volatility

WASHINGTON — House Republicans are pitching legislation queued up for a floor vote this week as a salve to high gasoline and electric costs, though it remains hazy how quickly and aggressively the measure would lower prices.

Tribune News Service

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House GOP’s energy bill hitting the floor amid market volatility - Roll Call

House Republicans are pitching a bill this this week as a way to reduce energy costs, but it’s unclear how quickly it might lower prices.

Roll Call

'It really shouldn't be this way': Top economist Mohamed El-Erian blames the Fed for bad messaging and stock volatility

Fed's Jerome Powell hinted in February that inflation hikes would slow because disinflation was underway. But on Tuesday, he seemed to backtrack.

Fortune

Painless disinflation is looking less likely

New data shows consumer spending and inflation heated up in January.

Axios

Fed's rate hikes likely to cause a recession, research says

Can the Federal Reserve keep raising interest rates and defeat the nation’s worst bout of inflation in 40 years without causing a recession

The Independent UK

Fed tackles inflation with its most diverse leadership ever

When Diane Swonk first attended the Federal Reserve’s annual economic conference in Jackson Hole in the late 1990s, there was a happy hour for women who attended the event

The Independent UK

Hot inflation dims likelihood Fed can achieve 'soft landing'

For months, Chair Jerome Powell has held out hope that the Federal Reserve will be able to raise interest rates high enough to throttle rampant inflation without tipping the economy into recession

The Independent UK

Senate panel backs Michael Barr, Biden pick as Fed regulator

The nomination of Michael Barr, President Joe Biden’s choice to be the top regulator on the Federal Reserve’s Board of Governors, was approved by a congressional committee and sent on the full Senate

The Independent UK

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Roll Call

Senate confirms Jefferson, fourth Black man to join Fed board - Roll Call

Philip Jefferson will become the fourth Black man to join the Fed board after the Senate confirmed him with strong bipartisan support.

Tribune News Service

Senate confirms Lisa Cook as the first Black woman on the Federal Reserve Board

WASHINGTON — The Senate voted Tuesday to confirm Lisa Cook as the first Black woman to join the Federal Reserve Board.

WEKU

Senate approves Lisa Cook as first Black woman on Federal Reserve board of governors

Cook is only the second of Biden's five nominees for the Fed to win Senate confirmation. His Fed choices have faced an unusual level of partisan opposition.

The Independent UK

Senate approves Lisa Cook as first Black woman to Fed post

The Senate has confirmed Michigan State economist Lisa Cook to serve on the Federal Reserve’s board of governors

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Roll Call

Senate confirms Lisa Cook as the first Black woman on the Federal Reserve Board - Roll Call

The Senate voted Tuesday to confirm Lisa Cook for the Federal Reserve Board. She will be the first Black woman on the board.

Roll Call

Biden to nominate former Treasury official as top Fed bank regulator - Roll Call

President Biden will nominate Michael Barr, a former Treasury official, to be the top bank regulator at the Federal Reserve.

The Independent UK

Powell and 3 other nominees to Fed posts clear Senate panel

The Senate Banking Committee has approved Jerome Powell’s nomination to a second four-year term as chair of the Federal Reserve

Tribune News Service

Senate Banking to vote on nominees who would give Fed historic race and gender diversity

President Joe Biden’s effort to build a more diverse, climate-conscious Federal Reserve faces its first hurdle Tuesday as the Senate Banking Committee votes on whether to advance five nominees to the full Senate for consideration.

Roll Call

Panel to vote on noms who would give Fed historic race, gender diversity

Senate Banking will vote Tuesday on five Fed nominees who, if confirmed, would give the central bank historic race and gender diversity.

The Independent UK

Fed nominee Bloom Raskin pledges not to 'direct loans'

Pushing back against critics, a key nominee to the Federal Reserve’s Board of Governors says in testimony before a Senate panel that she would not make it harder for any industry to obtain bank loans

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