U.S. Fed officials say that monetary policy will need to stay restrictive for "some time" to bring inflation back down to the Fed's 2% target, but their unity around that phrase masks an ongoing debate over another possible rate hike this year.
Long-Term Investing as Higher Rates Become the "New Normal"
Larry Pitkowsky, co-founder and Managing Partner at GoodHaven Capital Management, reacts to the Federal Reserve's decision to pause interest rate hikes and lays out his firm's approach to current market conditions. This interview aired on "Bloomberg Businessweek" on September 20, 2023.
Financial markets got a temporary relief as US lawmakers reached a deal over the weekend to avoid a government shutdown with the focus turning back to the Federal Reserve and interest rate hikes. Valerie Tytel has more on Bloomberg Television.
US Core PCE Rises at Slowest Monthly Pace Since Late 2020
The core personal consumption expenditures price index, which strips out the volatile food and energy components, rose 0.1% in August, the slowest monthly pace since late 2020, while consumer spending and income both saw a gain of 0.4%. Michael McKee breaks down the numbers on Bloomberg Television. (Corrects date in headline to 2020.)
BlackRock CEO Fink Sees US Avoiding Recession Until 2025
BlackRock CEO Larry Fink says the US has "a very vibrant economy" and may not enter a recession until 2025. He made the comments during a conversation with Bloomberg's Dani Burger at the Berlin Global Dialogue forum.