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The Federal Reserve has a calendar/data problem. Fed officials will meet for the next FOMC meeting from May 2-3 to discuss another possible rate hike. Fed Chair Jerome Powell has consistently said the Board will make these decisions by examining various economic data points. But this meeting poses a unique challenge: the data available to the Fed will mostly be from March, not April. Tiffany Wilding, PIMCO Managing Director and Economist, joins Yahoo Finance’s Seana Smith and Jared Blikre to discuss the limited data the Fed has around the bank crisis, “…I think the issue here is that there’s still a lot of uncertainty around how the banking sector stress that we saw in mid-March, will impact the outlook. And we haven’t unfortunately got a lot of you know, data and reports to kind of understand the possible magnitude of that.” However, Wilding believes the Fed will stay focused on inflation, “I think given that we’ve seen this banking sector stress kind of die down, their focus is still probably going to be on inflation, you know, it’s probably going to lead them to another rate hike…”.
Key Video Moments
00:00:01 On econ data Fed will use
00:00:04 On March jobs report
00:00:21 On March CPI reading
00:00:40 On March CPE reading 00:01:27 On lack of bank crisis data 00:02:05 On what the Fed will focus on
00:02:22 On another possible rate hike
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