#Chicago Fed

Farmland values continue to rise: Fed survey

CHICAGO — Farmland values had the largest year-over-year increase in over nine years, according to a 7th Federal Reserve District survey. Assisted by low interest rates, government support and higher than normal farm incomes, the Chicago-based district saw a year-over-year gain of 18% in its agricultural land values in the third quarter of 2021.
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Top 5 Things to Watch in the Markets Next Week By... – Investors will pay close attention to Wednesday’s Federal Reserve meeting minutes for fresh insights into the impact of high inflation on the future path of interest rates. Markets are also awaiting an announcement from President Joe Biden on his choice to lead the US central bank, with a possible decision ahead of the Thanksgiving holiday on Thursday. There will also be a flurry of US economic data on Wednesday before the holiday, while PMI data from the UK and US region during the week will determine the impact of supply chain issues and inflation on business activity. Meanwhile, Black Friday kicks off the main holiday shopping period amid concerns consumers may tighten their belts. Here’s what you need to know to start your week.
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Gold sees price pressure on more profit taking

(Kitco News) - Gold prices are moderately lower in early U.S. trading Friday, on some more profit-taking from the shorter-term futures traders, following recent gains. The recent big sell off in the crude oil market and the strong U.S. dollar index are also negatives for the metals markets. December gold was last down $9.50 at $1,842.10 and December Comex silver was last down $0.001 at $24.78 an ounce.

Gold Price to Stay Afloat on Strong US PCE Price Report

The price of gold consolidates after trading to a fresh monthly high ($1877), and data prints coming out of the US may keep bullion afloat as Federal Reserve officials now brace for sticky inflation. Fundamental Forecast for Gold Price: Neutral. The recent breakout in the price of gold appears to...

Markets need to heed voice of doves on Fed rate trajectory

Nervous fliers who sweat the small bumps on their journey sometimes wonder why their pilot can’t just fly much lower. From their point of view, flying closer to the ground represents far greater safety than being held aloft at 37,500 feet, buffeted by winds and resisting gravity. It seems to be a similar logic some Fed members use in arguing for low interest rates.

Fed policymakers start penciling in earlier U.S. rate hikes

Nov 18 (Reuters) - Federal Reserve policymakers are penciling in the possibility of earlier interest rate hikes than they thought would be needed just a few months ago, as inflation continues to soar and the economy picks up speed. The shift comes as President Joe Biden nears a decision on...

Fed's Evans: Unemployment rate could approach 3.5% in 2022

Federal Reserve Bank of Chicago President Charles Evans predicted Thursday that the U.S. unemployment rate will fall below 4% in 2022, possibly approaching a level around 3.5%. Speaking at the BKD Financial Services Virtual Symposium, Evans said the decision on when to raise interest rates would depend on incoming inflation...

Fed Evans: Inflation is not hair on fire

Chicago Fed President Charles Evans said he wouldn’t describe inflation as “hair on fire”. But he admitted, high inflation is “gone on longer”, and things are “not quite as clean as I was hoping for”. Evans also tried to solidify the expectation that Fed won’t raise interesting rate before completing...

Forex Today: Dollar regains its footing after two-day decline, Fedspeak awaited

Here is what you need to know on Friday, November 19:. The dollar struggled to find demand on Thursday and the US Dollar Index (DXY) closed the second straight day in the negative territory. With US Treasury bond yields sharking off the bearish pressure, however, the DXY seems to have steadied above 95.50 on Friday. Investors await October Retail Sales data from the UK, German PPI report, speeches by European Central Bank President (ECB) Christine Lagarde, Fed Governor Waller and Fed Vice Chair Clarida.