The Federal Open Market Committee meets beginning Wednesday to make a another decision about interest rates. The meeting concludes on Thursday at 2 p.m. New York time with an announcement of the decision. No news conference is scheduled.
The Fed raised rates once each in 2015 and 2016, three times in 2017 and so far, three times in 2018.
Washington Post business columnist Steven Pearlstein takes on what I consider to be the challenge of our age: Can capitalism provide a better life for us all?
Now more than ever people are questioning the vast theory and system that underlies our lives, amid increasing inequality and the resulting political turmoil.
Pealstein gives a view of what has happened, why it has happened, and what specifically must be done to fix it. and, in the process, preserve the dynamic system that has created a world of increasing wealth and freedom.
There has not yet been a November increase since the present series began, so I won’t read much into it if the Fed decides not to raise at this meeting. The final meeting of the year, Dec. 18-19, will have a news conference by the Federal Reserve chair and release of new forecasts, and that would be the most likely time to announce a fourth increase for the year.
A decision to raise in November, on the other hand, would be a very big deal, with a market response and without a doubt a very loud response from the White House.
One report on the state of prices is due out during the week. The producer price index (final demand) will be published on Friday at 8:30 a.m.
Fed Vice Chairman for Supervision Randal Quarles will speak on future financial regulation at the Brookings Institution in Washington on Friday at 9:05 a.m. The event will be steamed live here.
The week ends with a three-day weekend marking the Veterans Day holiday in the United Stats on Monday, Nov. 12.