NY Fed President Dudley Reverses Interest Rate Hike Forecast

first_img in Daily Dose, Featured, Government, Market Studies, News Tagged with: Federal Reserve Bank of New York Interest Rate William Dudley Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save October 12, 2015 1,176 Views Previous: KBW lifts MGIC to Outperform, Delinquent Loan Inventory Drops 56 Percent in 3 Years Next: Survival in the SFR Market Requires Unorthodox Acquisition Strategies The Best Markets For Residential Property Investors 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago NY Fed President Dudley Reverses Interest Rate Hike Forecast Federal Reserve Bank of New York Interest Rate William Dudley 2015-10-12 Kendall Baercenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Xhevrije West Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / NY Fed President Dudley Reverses Interest Rate Hike Forecast Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The uncertainty surrounding the highly anticipated interest rate hike has kept the industry on its toes about just when the Federal Open Market Committee (FOMC) will raise rates, but New York Fed President William Dudley has recently reversed his initial forecast for the increase, presenting even more skepticism.Dudley, who is also a voting member of the Fed and vice chairman of the FOMC, noted in a recent interview with CNBC that his original forecast for the hike was altered by questions about a slowing global economy and its effect on the U.S. economy, which could potentially delay the rate increase further.”I think the key question is, are we going to get sufficient growth in the economy, put downward pressure on the unemployment rate, get an acceleration in wages? If we get that, I’ll be reasonably confident in inflation returning to 2 percent.”New York Fed President William DudleyIn late September, Dudley projected that the Fed may raise rates this year “if the economy continues on the same trajectory it’s on…and everything else suggests that’s likely to continue…then there is a pretty strong case for lifting off,” he said in a Wall Street Journal interview.However, contradictory to these remarks, in his recent CNBC interview Dudley seemed to back pedal on his previous statement, noting that he still predicts a rate hike this year, “but it’s a forecast and we’re going to get a lot of data between now and December, so it’s not a commitment.”The debate over whether it was time to raise rates as intensified as economic volatility in China has caused turbulence in the U.S. stock market in August. Following this, Dudley said that a rate increase in September seemed “less compelling” following turbulent stock market activity.At the September meeting, the Federal Reserve decided to keep the federal funds target rate at zero to 1/4 percent, where it has been for nine years.”In determining how long to maintain this target range, the Committee will assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation,” the Fed said in a statement. “This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee anticipates that it will be appropriate to raise the target range for the federal funds rate when it has seen some further improvement in the labor market and is reasonably confident that inflation will move back to its 2 percent objective over the medium term.The FOMC minutes from the September meeting showed that the Fed’s concern mostly lingers around global economic troubles, but they still intend to raise rates before the end of 2015.”The concerns about global economic growth and turbulence in financial markets led to greater uncertainty among market participants about the likely timing of the start of the normalization of the stance of U.S. monetary policy,” the minutes said. “Based on federal funds futures, the probability of a first increase in the target range for the federal funds rate at the September meeting fell slightly.”Even though most officials indicated that economic conditions will allow the hike to happen later this year, “the committee decided that it was prudent to wait for additional information confirming that the economic outlook had not deteriorated.’’Click here to read/watch the CNBC interview.Click here to read the WSJ interview. 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Colombian Air Force Crucial For Fire Control

first_imgBy Lorena Baires / Diálogo December 06, 2019 Colombian pilots carry out fire extinguishing duties in one of the harshest drought seasons of the last 20 years.During 2019, the Colombian Air Force (FAC, in Spanish) worked tirelessly to extinguish and control fires. Pilots overflew the territory to extinguish fires that consumed 318,214 acres of vegetation due to strong winds, scarce rain, and high temperatures, in addition to fires created intentionally for agricultural purposes. This combination caused 2,217 fires; the highest number Colombia’s Unit for Disaster Risk Management (UNGRD, in Spanish) has recorded in two decades.FAC has a helicopter fleet with Bambi Bucket fire-control systems, with a 1,320-gallon capacity. For fires in large areas, FAC deploys a C-130 Hercules aircraft, equipped with a MAFFS II system that can drop a load of 3,698 gallons.“The complexity of these maneuvers requires planning and attention to aircraft performance. Special consideration must be paid to the high temperatures we face during drops,” said FAC Captain Fabián Grijalba, commander of the 412 Squadron and pilot of a Huey II helicopter. “Because this involves more physical exhaustion among crew members, we only conduct a maximum of six flight hours.”Members of the Colombian Air Force prepare a Bambi Bucket system, with a 1,320-gallon capacity. (Photo: Colombian Air Force)The most recent fires, which occurred in September, have affected forests in Tolima, Antioquia, Santander, and Valle del Cauca departments. In the latter, in the Yumbo municipality, the fire ravaged more than 791 acres. “In this area, there are cross winds, the terrain is very steep, and vegetation is abundant,” Miguel Perdomo, UNGRD coordinator in Yumbo, told Diálogo. “These characteristics and the distance from water prevent forest control groups from being more flexible.”In hard-to-reach areas, fire trucks cannot enter, only manual tools can be used. That’s where the FAC firefighters descend on ropes behind the combustion line to create firebreaks and release liquids over the fires. “Following the drops,  the flames are extinguished, leaving a safe perimeter for us to come closer,” Carlos Guzmán, a firefighter at the National Firefighting Directorate (DNB, in Spanish) in the municipality of Carmen de Apicalá, Tolima, told Diálogo. “After that, we remove any combustible material to make a path and prevent the fire from advancing through crops or wooded areas.”“Ninety-eight percent of the fires recorded in October were caused by people who try to prepare the soil for crops,” Captain Germán Miranda, head of DNB, told Diálogo. “There’s also the increase in temperature. In some cities and towns in the Caribbean or Andean regions [the temperatures] can reach up to 43 degrees Celsius [nearly 110 degress Farenheit].”To increase FAC’s operational capabilities, the U.S. government established in August the Regional Helicopter Training Center Program in Colombia, with the delivery of 60 TH-67 Creek training helicopters. These aircraft will be used to train Colombian pilots at the Helicopter School for the Armed Forces.“I’d like to thank our friends from the United States and its Army for their support to the Colombian people and Air Force,” said General Ramsés Rueda Rueda, FAC commander, during the delivery of the TH-67 Creek helicopters.last_img read more

Begovic: Unfavorable Result for Us, but We will fight until the End!

first_imgUnfavorable result with Belgium in Brussels, 3: brought a disappointment to the BH team because now we have to fight for the 3rd place in the group, i.e. barrage, and to achieve it, we need to win in the next three matches, but also to await other results.After the match, goalkeeper of Dragons, Asmir Begovic, wrote on Twitter.“Unhappy result for us. Thanks to all our fans for the support. We are going forward and we will fight until the end!!Elects of Mehmed Bazdarevic are now facing the match against Andorra on 6th September on the stadium Bilino Polje in Zenica.(Source: nap.ba)last_img