President of the Federal Reserve Bank of New York
Appears in 3 stories
Said there is 'no need for urgency' in changing monetary policy, but one more rate increase may be appropriate later this year
The US economy added 29,000 jobs in September, less than a third of the 90,000 forecasters expected. The unemployment rate ticked up to 4.2% as 485,000 people entered the labor force.
Updated 3 days ago
Signaled no need for urgency on an October hike
Five years into the inflation fight, prices still run above the Fed's 2% target, and the central bank has reversed course to tighten. After cutting rates six times from September 2024 to December 2025, the FOMC voted unanimously on September 16 to raise its benchmark rate a quarter point to 3.75% to 4.00% — the first increase since 2023.
Updated Oct 3
Signals no need to rush additional hikes
The 10-year Treasury yield broke past 5.3% for the first time since 2002, touching 5.342% on Oct. 1 before settling near 5.25%. The global bond selloff posted its biggest quarterly rise this century.
Updated Oct 2
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