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Federal Reserve officials are not happy with elevated inflation running above the central bank's 2% target and it would not be a success for those inflation levels to be repeated next year, Fed Vice Chair Richard Clarida said on Tuesday.
ADP Signals Modest Slowdown In Job Gains In November, Despite 'Easiest Labor Market Ever'Dec 1, 2021 - 05:37:20 PST
The recent pace of acceleration in job gains was expected to slow modestly in November and it did (but beat expectations). ADP reports a 534k job addition in November (better than the 525k expected) but slightly down from the 570k in October.
"The Chinese banking and real estate sectors are on the brink of death. The government will do everything possible to reorganize the former and to save the latter, but it is very possible that it will be incapable of succeeding." ~ Daniel Fernandez
The European Central Bank is likely to keep buying bonds through 2022 to boost the bloc's economy and could even resume pandemic emergency bond buys after they end in March, ECB Vice President Luis de Guindos told French newspaper Les Echos on Tuesday.
Close to 27% of U.S. consumers said in October that they had applied for a credit card in the past 12 months, the highest level since 2019.
The central bank sold foreign currencies, including the U.S. dollar, to combat “unhealthy price formations” in the market, according to a statement, which didn’t provide specific figures. People familiar with the matter put the sales at around $1 billion.
Morgan Stanley Sees Crypto-Banking Regulation Arriving Faster Than ExpectedDec 1, 2021 - 05:19:06 PST
Regulators are looking to develop a set of rules for crypto banks sooner than expected, according to a research note from Morgan Stanley published last week.
The foreign exchange manipulator designation is based on three broad criteria: a $20 billion-plus trade surplus with the United States, a current account surplus exceeding 2% of GDP, and currency intervention exceeding 2% of gross domestic product. The Treasury in April stopped short of formally branding Vietnam, Switzerland and Taiwan as currency manipulators even...
Singapore expanded its gold reserves by about 20% earlier this year, joining a growing number of countries increasing their investment in the yellow metal.
Treasury yields surged Wednesday after Federal Reserve Chair Jerome Powell suggested Tuesday that stubbornly high inflation warranted increasing the pace of policy tightening. That saw the market reverse course after benchmark 10-year yields fell to a two-month low this week on fears over omicron’s resistance to existing vaccines.
Powell Channels His Inner Inflation Hawk, but Omicron May Have Other PlansDec 1, 2021 - 05:11:00 PST
All of that suggests Powell’s newfound hawk could easily run headlong into the black swan that Omicron poses. Stay tuned.
The transitory inflation narrative is dead.During an appearance before a Senate committee along with Treasury Secretary Janet Yellen Tuesday, Federal Reserve Chairman Jerome Powell said it was time to retire the word transitory. As Peter Schiff explains in his podcast, Powell came close to admitting he was wrong. But the question remains — what is the Fed going to do about this non-transitory inflation?
Why does Mike Maloney see the next crash as being particularly vicious in nature? Join him in today’s presentation where you’ll see some amazing statistics on where the economy is heading.
This Strategic Report provides information and data on the Bakken Shale Oil Field, showing that it is heading over the ENERGY CLIFF. Americans have no idea how quickly domestic shale oil production will decline over the next five years, and this is terrible news for the U.S. economy and the stock market...
Nov 30, 2021 - 14:04:35 PST
This short explainer video provides a reality-check on the brewing retirement crisis in America. The situation really is a lot worse than most people realize.
Nov 30, 2021 - 12:54:50 PST
The price of gold could go up by as much as 20 percent over the next 12 months, according to Gerald Moser, chief market strategist at Barclays Bank.
Nov 30, 2021 - 12:49:31 PST
Wall Street's main indexes extended declines in choppy trading on Tuesday after Federal Reserve Chair Jerome Powell said the risk of higher inflation has increased and that it was appropriate to consider wrapping up tapering a few months sooner.
Yesterday’s price action was awful. You’d think after a dump like Friday’s we’d get a major bounce. NOPE. Stocks didn’t even “close the gap” created by that drop.
Although some of the obvious factors behind recent price surges will almost certainly subside in due time, others will linger, adding to the already-high inflationary pressures that have been building across the global economy. Worst of all, major central banks continue to put themselves out on a limb.
Fed’s Powell Could Slow Crypto Market, Warns Former Goldman Sachs Exec, Mike NovogratzNov 30, 2021 - 11:47:37 PST
Mike Novogratz, former Goldman Sachs executive and CEO of Galaxy Digital, has cautioned that Federal Reserve Chairman Jerome Powell could slow down the crypto market in his second term in office.