Stock Markets
Fed hawks and doves: what they are saying on monetary policy
(Reuters) -The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation.
The topsy-turvy economic environment of the COVID-19 pandemic sidelined those differences, turning Federal Reserve officials at first universally dovish as they sought to provide massive accommodation for a cratering U.S. economy, and then, when inflation surged, into hawks who uniformly backed aggressive interest rate hikes.
The risks are now seen as more balanced and the choices more nuanced.
The following chart shows officials’ latest views on the outlook for Fed policy and the economy. The designations are based on comments and published remarks; for more on the thinking that shaped these hawk-dove designations, click on the photos in this graphic.
For a breakdown of how Reuters’ counts in each category have changed, please scroll to the bottom of this story.
Dove Dovish Centrist Hawkish Hawk
Patrick Jerome Powell, Raphael Bostic, Michelle
Harker, Fed Chair, Atlanta Fed Bowman,
Philadelphia permanent President, 2024 Governor,
Fed President, voter: “I don’t voter: Now permanent
2026 voter: think that it is expects one voter: “I
When it comes likely based on rate cut this remain
to a rate cut, the data we have year, in the willing to
“I think we’re that the next fourth quarter, raise the
close, give us move that we down from two federal
a couple of make will be a previously funds rate
meetings.” Feb rate hike … It (April 3, at a
22, 2024 is more likely 2024). “If future
… we hold the September is meeting
policy rate the right time, should the
where it is …” then it’s going incoming
May 14, 2024 to be data
September. If indicate
it’s December, that
that’s the progress
right time, on
that’s going to inflation
be December. If has
it’s February stalled or
that’s the reversed.”
right time, May 17,
it’ll be 2024
February.” May
30, 2024
John Williams, Loretta Mester,
New York Fed Cleveland Fed
President, President, 2024
permanent voter: voter*: “I
Three rate cuts would not think
in 2024 is “a that that’s
reasonable kind still
of starting appropriate,”
point.” (Feb 28, in reference to
2024) “I don’t her previous
feel any expectation for
urgency” to three rate cuts
lower rates.” in 2024 (May
May 30, 2024 20, 2024). “I
need to see a
few more months
of inflation
data that looks
like it is
coming down.”
May 21, 2024
Philip Thomas Barkin,
Jefferson, Vice Richmond Fed
Chair: “It is President, 2024
too early to voter: Lower
tell whether the consumer
recent slowdown inflation in
in the April was
disinflationary “good, but
process will be still not where
long-lasting.” we are trying
May 20, 2024 to get.” May
16, 2024
Michael Barr, Jeffrey Schmid,
Vice Chair of Kansas City Fed
Supervision, President, 2025
permanent voter: voter: “I am
“We will need to prepared to be
allow our patient.” May
restrictive 14, 2024
policy some
further time to
continue its
work.” May 20,
2024
Christopher Neel Kashkari,
Waller, Minneapolis Fed
Governor, President, 2026
permanent voter: voter: Penciled
“In the absence in two 2024
of a significant rate cuts in
weakening in the March. “Many
labor market, I more months of
need to see positive
several more inflation data,
months of good I think, to
inflation data give me
before I would confidence that
be comfortable it’s
supporting an appropriate to
easing in the dial back.” May
stance of 28, 2024
monetary
policy.” May 21,
2024.
Lisa Cook, Lorie Logan,
Governor, Dallas Fed
permanent voter: President, 2026
“Fully restoring voter: “I think
price stability it’s too soon
may take a to really be
cautious thinking about
approach to rate cuts.” May
easing monetary 30, 2024
policy over
time.” March 25,
2024
Adriana Kugler,
Governor,
permanent voter:
“If disinflation
and labor market
conditions
proceed as I am
currently
expecting, then
some lowering of
the policy rate
this year would
be appropriate.”
April 3, 2024
Mary Daly, San
Francisco Fed
President, 2024
voter: Three
rate cuts this
year is “a very
reasonable
baseline.”
(April 2, 2024)
“I’m in a
wait-and-see
mode.” May 9,
2024.
Austan Goolsbee,
Chicago Fed
President, 2025
voter: At the
median Fed
expectation for
three rate cuts
in 2024 (March
25, 2024). “What
everybody is
trying to wrap
their head
around now …
is are we back
to the
traditional
tradeoff between
employment and
inflation?” May
30, 2024
Susan Collins,
Boston Fed
President, 2025
voter: Expects
“in the range of
two” rate cuts
for 2024 (April
11, 2024) “We’re
in a period when
patience really
matters.” May
21, 2024
*Mester hits the Fed banks’ mandatory retirement age in June; if a new Cleveland Fed president is not in place by the Fed’s July 30-31 meeting, Chicago Fed President Goolsbee would vote until one is.
Notes: Fed policymakers began raising interest rates in March 2022 to bring down high inflation. Their most recent policy rate hike, to a range of 5.25%-5.50%, occurred in July 2023. Half of the policymakers as of mid-March thought three rate cuts this year would be appropriate; just as many thought it would be fewer, projections released after their March 19-20 meeting showed. Two of 19 thought there would be none. Alberto Musalem, who started as the St. Louis Fed’s president on April 2, has not made any substantive policy remarks and is not included in the dove-hawk matrix.
All 12 regional Fed presidents debate monetary policy at Federal Open Market Committee (FOMC) meetings that are held eight times a year, but only five cast votes at any given meeting, including the New York Fed president and four others who vote for one year at a time on a rotating schedule.
The seven Fed governors, including the Fed chair and vice chairs, have permanent votes on the FOMC.
Reuters over time has shifted policymaker designations based on fresh comments and developing circumstances. Below is a Reuters count of policymakers in each category, heading into recent Fed meetings.
FOMC Date Dove Dovish Centrist Hawkish Hawk
June ’24 0 1 10 6 1
Apr/May ’24 0 1 10 6 1
March ’24 0 1 11 5 1
Jan ’24 0 2 9 4 1
Dec ’23 0 2 9 4 1
Oct/Nov ’23 0 2 7 5 2
Sept ’23 0 4 3 6 3
June ’23 0 3 3 8 3
March ’23 0 2 3 10 2
Dec ’22 0 4 1 12 2
Stock Markets
BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman
San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.
Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.
Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895
BioAge Labs, Inc. (BIOA) Investigation:
The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”
BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.
This news drove the price of BioAge shares down almost 80% on December 9, 2024.
“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »
Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182
Stock Markets
Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman
CELH Investors with Losses Encouraged to Contact the Firm
San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).
Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.
Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895
Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):
The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:
- Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
- Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
- Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
- Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated
The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.
The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.
These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.
“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »
Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.
# # #
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180
By Ank Kuipers
PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.
“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.
The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.
Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.
“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.
Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.
In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.
Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.
Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.
Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.
“Thanks to the victims’ relatives and their supporters who never gave up, Bouterse will go down in history as a convicted murderer,” Brody said.
The former president’s family will make a statement later on Wednesday, members of his political party told journalists.
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