Fed Governor Signals Potential Rate Hike Amid Global Bank Earnings Reports
Federal Reserve Governor Christopher J. Waller has indicated a leaning toward increasing the policy rate by at least 25 basis points in December, citing inflation levels that remain well above the FOMC's 2% target. This hawkish stance follows October CPI data showing a 0.4% increase, with Waller suggesting a 50 basis point hike could be considered if core inflation remains elevated. Simultaneously, major international lenders are reporting strong third-quarter results. HSBC reported a 32% increase in pre-tax profit to $9.6 billion and announced a $1 billion share buy-back program. Banco Santander also showed growth, with underlying profits rising 19% in the third quarter. These earnings come as Goldman Sachs Asset Management predicts further rate hikes from both the FOMC and the ECB.
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Topics: CPI Federal Reserve FOMC Inflation Interest Rates
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Part of the story Fed Governor Signals Potential Rate Hike Amid Global Bank Earnings Reports (5 articles)