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The Latest Breaking News from Paul Volcker

Forget inflation, Jefferies says to watch out for a 'disinflation era' like the early 1980s

When former Fed Chair Paul Volcker hiked interest rates to quash inflation in the early 80s, a recession and disinflation followed. Jefferies sees a similar fate for the economy this year.

Fortune

How long will we use human misery to control inflation?

An interest rate increase? On the agenda? Try eight, actually happening. Dr Lowe and his RBA colleagues did get left behind.

The New Daily

U.S. Economy, S&P 500 Face Hard Landing — Unless The Federal Reserve Does This

With wage growth far too hot, the Federal Reserve may need to implicitly hike its 2% inflation target to avoid a hard landing for the economy.

Investors Business Daily

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Monetary curbs have long-term consequences

The Spanish-American philosopher George Santayana famously warned that "those who cannot remember the past are condemned to repeat it". But sometimes even those who can recall the past have a selective memory and draw the wrong conclusions. This is how the global policy response to the current bout of inflation…

Bangkok Post

Amid fiscal shock and awe, more austerity is the last thing we need

A collapse in credibility under the former Tory PM is being followed by a return to ‘sado-monetarism’ under the new one

The Guardian - UK

What Is Disinflation? Definition, Example & Impact

For most consumers, the concept of inflation is all too familiar. Inflation describes the process of goods and services going up in price over time, thus decreasing the purchasing power of every dollar. Deflation, on the other hand, refers to falling prices and a lower cost of living. So just…

The Street

We need serious public policy, not more printed money – the US economy is in tatters

Decades of bailouts have convinced some that the Fed will always come to the rescue – but this only papers over the fundamental flaws of the US economy

The Guardian - US

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Fed seen aggressively hiking to 5%, triggering global recession

Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a U.S. and global recession, economists surveyed by Bloomberg said.

Tribune News Service

Buckle Up For 2023: Inflation Is Still Rampant, New PCE Data Shows

U.S. inflation, as measured by the Federal Reserve's preferred Personal Consumption Expenditures (PCE) Price Index, remains unchanged at 6.2% annually in September, according to the Bureau of Economic Analysis.

Benzinga

The 'Experts' Were Never Going To Fix Inflation

The idea that the Fed has the knowledge necessary to control the economy with perfectly calibrated policies was always an illusion.

Reason

Higher Interest Rates Can Take a Long Time to Bring Down Inflation

The world's central banks face a nail-biting wait.

Bangkok Post

The Fed Is Skating To Where The Puck Was: Comparisons To Volcker's 1980s Inflation Are 'Conceptually Wrong,' Says This Economist

Unbeknownst to many, the gift for the 43rd anniversary of marriage is entertainment; to stretch it further, this fall marks the 43rd anniversary of a pivotal event in the history of the Federal Reserve and the U.S. economy.

Benzinga

When your seatmate on the plane talks about the Fed, you know things aren't right

The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.

WEKU

Memories of the 1970s haunt the Fed, pushing its aggressive rate moves

The Federal Reserve is cracking down hard on inflation, in hopes of avoiding a repeat of the 1970s, when price hikes were so sustained, they got baked in to people's thinking.

WEKU

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Benzinga

Cathie Wood Says Powell's 'Sledgehammer' To 'Slay' Inflation Way More Powerful Than Volcker's In 1980s: 'Fed Could Undermine Its Legacy'

Cathie Wood, the founder of ARK Investment Management, has said the current U.S. monetary policy is significantly more restrictive than in the 1980s when, to kill inflation, former Federal Reserve Chair Paul Volcker had pushed the Fed funds rate up two-fold from 10% to 20%.

The Street

Goldman Sachs Cuts S&P 500 Price Target By 16%

While some of Wall Street's top firms are still clinging onto their bullish price targets, Goldman Sachs is reassessing.

Tribune News Service

Commentary: The Fed’s monetary malpractice will cost you

The goal of the latest interest rate hike from the Federal Reserve? To avoid a deep recession “by acting with resolve now,” according to Fed Chairman Jerome Powell. But if history is any guide, this is a case of too little, too late.

Tribune News Service

Powell signals more pain to come with Fed sending rates higher

Federal Reserve Chair Jerome Powell vowed officials would crush inflation after they raised interest rates by 75 basis points for a third straight time and signaled even more aggressive hikes ahead than investors had expected.

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AFP

Steep Fed rate hike seen as certainty after ugly inflation data

Washington (AFP) - The Federal Reserve is poised to unleash another massive interest rate increase this week after the latest data showed a worrying US inflation picture, which confirmed the need for the central bank to continue to act aggressively.

The Street

Cathie Wood Sees Deflation, Lays Blame on Powell

Asset manager Cathie Wood reiterated that the Fed is looking at the wrong indicators, finding that prices increased when they actually declined.

AFP

Fed Must act 'strongly' to avoid repeat of 1980s inflation spike: Powell

Washington (AFP) - The Federal Reserve must continue to act "strongly" to cool demand and contain price pressures to avoid a repeat of the inflation surge the US economy suffered in the 1970s and 1980s, Fed Chair Jerome Powell said Thursday.

The Independent UK

Powell: Higher rates won't likely cause deep US recession

The last time the Federal Reserve faced inflation as high as it is now, in the early 1980s, it jacked up interest rates to double-digit levels — and in the process caused a deep recession and sharply higher unemployment

The Conversation

Liz Truss faces a financial whirlwind – will her plans for the economy work?

Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of energy and other goods.

The New Daily

Market Wrap: Tough talk from the US and a BHP stock shock dominate this week’s markets

US markets tumbled this week after the Federal Reserve chair made a hawkish rates speech, while BHP shares dragged down the ASX

StockNews.com

Are Bears Ready to Push Stocks Back to June Lows?

The recent 18% rally for the S&P 500 (SPY) was a flight of fancy. Fed Chairman Powell made sure that message was heard loud and clear from the mountain tops in Jackson Hole. This sets up for an interesting fork in the road where dropping back down the June lows…

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