US yields at crisis-era highs as Fed's Hammack floats rate rises
Bloomberg reported that the Fed's Hammack floated 'some number' of rate increases on Monday. US long-term yields are at levels last seen in the financial crisis.
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Fed under Warsh
Symbolic imageWhere things stand
Long-term US yields are at financial-crisis highs after the Fed's Hammack floated possible rate increases, with foreign creditors pulling back. Markets now await Tuesday's inflation figures, while Trump's push to oust governor Lisa Cook stays blocked and Warsh says little.
The US Federal Reserve sets interest rates under a mandate that includes keeping inflation in check, and its chair's words move markets on their own. Kevin M. Warsh holds that post, and investors and commentators read each of his appearances for how firmly he is committed to that goal.
Timeline in detail
Dollar near two-month low as US inflation data looms
Dollar near two-month low as US inflation data looms
The dollar held near a two-month trough on Monday and gold drifted lower from a seven-week peak as markets awaited US inflation figures due on Tuesday. Soft jobs data had eased expectations of a September rate rise, while Wall Street reads Treasury Secretary Bessent's recent moves as a sign of anxiety in the bond market.
US stocks close week at records with Dow at 54,000
US stocks close week at records with Dow at 54,000
The Wall Street Journal reported that the Dow Jones reached 54,000 as US stocks ended the week at record highs, supported by strong corporate earnings. The paper also wrote that the labour market may not need as many new jobs as before to count as healthy.
Trump renews bid to fire Fed governor Lisa Cook after court setback
Trump renews bid to fire Fed governor Lisa Cook after court setback
US President Donald Trump has renewed his effort to remove Federal Reserve governor Lisa Cook, despite a Supreme Court ruling in June that blocked his first attempt, Bloomberg and the South China Morning Post reported on Friday. Al Jazeera notes that Trump has clashed with Federal Reserve members over his push for rapid interest rate cuts despite inflation.
US economy sheds 23,000 jobs as hiring figures are revised down
US economy sheds 23,000 jobs as hiring figures are revised down
The US economy lost 23,000 jobs in July instead of the 80,000 gains economists had expected, the Bureau of Labor Statistics reported on Friday. Markets rallied as traders pared bets on a Federal Reserve rate rise.
Trump calls Warsh as pressure on the Fed grows
Trump calls Warsh as pressure on the Fed grows
Trump made calls to Kevin Warsh, Bloomberg reported on Thursday, describing it as the latest sign of his bid to influence the Federal Reserve. The Financial Times reported that Warsh will stick with lean Fed messaging despite a market backlash, while Bloomberg wrote that his faith in markets sidelines more nuanced policy tools.
US private payrolls add 44,000 as Fed's Cook signals possible rate rise
US private payrolls add 44,000 as Fed's Cook signals possible rate rise
ADP data published on Wednesday showed US companies added 44,000 jobs in July. Federal Reserve governor Lisa Cook said the central bank is ready to raise interest rates if inflation does not cool, Bloomberg reported.
Fed chair Warsh pressed over mixed inflation signals
Fed chair Warsh pressed over mixed inflation signals
Federal Reserve Chairman Kevin M. Warsh is under pressure to clear up mixed signals about his commitment to bringing inflation down, the New York Times reported on Tuesday. His latest public appearance set off a bout of market volatility.