by Philip S. Chao | Jan 29, 2024 | Company News, Individuals, Institutions
Philip Chao was featured in this article on CNBC.
by Philip S. Chao | Jan 25, 2024 | Central Bank, Individuals, Institutions
Summary The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 4.50%, 4.75% and 4.00% respectively. (No Change) The past interest rate increases keep being...
by Philip S. Chao | Dec 13, 2023 | Central Bank, FOMC, Individuals, Institutions
Summary: Recent indicators suggest that growth of economic activity has slowed from a strong solid pace in the third quarter. (Change) Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low. (No Change) Job gains have...
by Philip S. Chao | Dec 13, 2023 | Central Bank, FOMC, Individuals, Institutions
Summary Inflation has eased from its highs, and this has come without a significant increase in unemployment. That is very good news. (dual mandate commitment) But inflation is still too high, ongoing progress in bringing it down is not assured, and the path forward...
by Philip S. Chao | Nov 1, 2023 | Central Bank, FOMC, Individuals, Institutions
The central question for the FOMC: “have we achieved a stance of monetary policy that’s sufficiently restrictive to bring inflation down to 2 percent over time, sustainably?” Summary: The stance of policy is restrictive, meaning that tight policy is putting...