The Kansas City finance world has always been more conservative than the rest of the nation.
Accordingly, this word on monetary policy is worth a glimpse and offers a hint that the people in charge understand that the future of the U.S. economy is going to be rough . . . Check-it . . .
Kansas City Federal Reserve President Esther George, in a statement released on Friday, said "the speed with which we adjust the policy rate is important. Policy changes affect the economy with a lag, and significant and abrupt changes can be unsettling to households and small businesses as they make necessary adjustments."
"It also has implications for the yield curve and traditional bank lending models, such as those prevalent among community banks," she continued.
Read more via www.TonysKansasCity.com link . . .
Kansas City Federal Reserve President Esther George on Friday said she dissented against the U.S. central bank's three-quarters-of-a-percentage-point interest rate increase this week because she "viewed that move as adding to policy uncertainty simultaneous with the start of balance sheet runoff."
Further reading . . .
The Federal Reserve Bank announced a 75-basis point interest rate hike on Wednesday, a 50 percent greater increase than the central bank had initially signaled it was going to make for June. The move comes after inflation hit a new, 40-year high last week, with consumer prices reaching an 8.6 percent mantel over where they...
CBS Minnesota MINNEAPOLIS-- The United States economy is both an ocean and an ecosystem with money flowing in all directions. In good times, growth and prosperity can seem like high tide. Debt and unemployment can be like low tide. At the top of the economic food chain is the U.S.
You decide . . .