There’s more unexpected turbulence in the Fed’s softish landing plans, writes GinaChon.
The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. REUTERS/Sarah SilbigerWASHINGTON, June 24 - The Federal Reserve may be underestimating the price to pay for taming inflation. The U.S. central bankthe trade-off for lowering the rate of rising prices is unemployment increasing to 4.1% in 2024. Yet it reckons the economy will still grow.
The Fed has been caught off guard by persistent inflation. The latest surprise was the U.S. consumer price index rising by 8.6% in May, a new 40-year high. That was one reason the central bank last weekChair Jay Powell’s goal of a softish landing for the economy faces bumps. The Fed estimates it will more than double current rates to 3.8% to limit price increases to an acceptable level of 2.2% in 2024. Unemployment forecasts imply the loss of about 1 million jobs.
Job losses could therefore dampen consumer confidence. A slew of companies, including Silicon Valley giants like Facebook parent Meta Platforms
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Feds want 25 years for Chauvin for violating Floyd's rightsFederal prosecutors are asking a judge to give former Minneapolis Officer Derek Chauvin a 25-year sentence for violating the rights of George Floyd, as well as the rights of a 14-year-old Black boy who was restrained in an unrelated case
Read more »
Feds: Ghislaine Maxwell deserves at least 30 years in prisonNEW YORK (AP) — British socialite Ghislaine Maxwell should spend at least 30 years in prison for her role in the sexual abuse of teenage girls over a 10-year period by her onetime boyfriend, financier Jeffrey Epstein, prosecutors said Wednesday in written arguments.
Read more »
Feds: Ghislaine Maxwell deserves at least 30 years in prisonProsecutors say British socialite Ghislaine Maxwell should spend at least 30 years in prison for her role in the sexual abuse of teenage girls over a 10-year period by her onetime boyfriend, financier Jeffrey Epstein
Read more »
Feds Want Ghislaine Maxwell Behind Bars for at Least 30 YearsHer lawyers argue she should receive no more than 5 1/4 years at her June 28 sentencing.
Read more »
Feds: Ghislaine Maxwell Deserves at Least 30 Years in PrisonBritish socialite Ghislaine Maxwell should spend at least 30 years in prison for her role in the sexual abuse of teenage girls over a 10-year period by her onetime boyfriend, financier Jeffrey Epstein, prosecutors said Wednesday in written arguments.
Read more »
Feds want 25 years for Chauvin for violating Floyd's rightsFederal prosecutors asked a judge on Wednesday to sentence a former Minneapolis officer to 25 years for violating the rights of George Floyd, saying Derek Chauvin's actions were cold-blooded and needless as he knelt on the Black man's neck while Floyd repeatedly said he couldn't breathe. Chauvin pleaded guilty in December to violating Floyd’s rights, admitting for the first time that he kept his knee on Floyd’s neck — even after he became unresponsive — resulting in Floyd's death. Chauvin, who is white, admitted he willfully deprived Floyd of his right to be free from unreasonable seizure, including unreasonable force by a police officer, during the May 2020 arrest.
Read more »