Cash-hungry banks slightly increased borrowing from the Federal Reserve for the first time in five weeks, to $143.9 billion, in a sign of lingering stress on the U.S. financial system.
There is a trend of slowing inflation and some signs of a gradual cooling in the demand for labor, said New York Fed President John Williams on Wednesday.
Lending fell after the failure of Silicon Valley Bank and businesses hired fewer people, a Fed survey found, but inflation also "appeared to be slowing."
Fed Governor Christopher Waller on Friday said that the central bank needs to continue to raise interest rates.
Chicago Fed President Austan Goolsbee said Friday that a mild recession is definitely a possibility.
Federal Reserve officials were worried at their March meeting that the recent stress in the bank sector would lower U.S. economic growth.
San Francisco Fed chief Mary Daly said the U.S. banking system is "safe and sound," but she did not offer fresh details on the failure of Silicon Valley Bank.
The Federal Reserve has more work to do to bring inflation under control, said Richmond Fed President Tom Barkin on Wednesday. Barkin said the March consumer price data was "pretty much as expected." He said he puts more e...
Philadelphia Fed President Patrick Harker on Tuesday said the Fed should raise interest rates above 5% and then pause.
The new head of the Chicago Federal Reserve said the Fed needs "to be cautious" about further increases in interest rates in light of recent bank failures.
The recent bank failures in the United States won't be such a 'big negative' on the U.S. economic outlook, said New York Fed President John Williams on Tuesday.
There are no clear signs of a credit crunch on the U.S. economy, New York Fed President John Williams said Monday.
St. Louis Fed President James Bullard on Thursday downplayed the concern over financial stress on the economy.
Cleveland Fed President Loretta Mester said her forecasts includes 'monetary policy moves somewhat further into restrictive territory' this year.
The stress in the banking sector are likely to reduce consumer spending, New York Fed President John Williams said Friday.