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As U.S. inflation hits 31-year high, banks assess risks and opportunitiesNov 24, 2021 - 05:56:25 PST
Wall Street banks are planning for a sustained period of higher inflation, running internal health checks, monitoring whether clients in exposed sectors could pay back loans, devising hedging strategies and counseling caution when it comes to deals.
The Number Of Americans Filing For First-Time Jobless Benefits Was The Lowest Since 1969 Last WeekNov 24, 2021 - 05:43:17 PST
After unexpectedly jumping by over 600,000 the prior week, back above 3.1 million, the total number of Americans on some form of government dole fell back below 3 million last week...
Central Banks Have 'King Canute' Theory of Inflation, Says Former GovernorNov 24, 2021 - 05:39:37 PST
King said there had been a decade of sluggish economic growth despite the largest monetary stimulus the world had ever seen and it was “surely time to recognise that many if not most economic problems are not amenable to monetary policy solutions”.
The union is calling for wages to be indexed to inflation. As the European Central Bank is getting more heat for refusing to hike interest rates despite rising inflation, its staff is seeking another solution: It wants higher pay.
China Warned to Brace for US Stimulus Tapering, Rate Increases with Powell to Remain as Fed ChairNov 24, 2021 - 05:24:09 PST
Jerome Powell's nomination for a second term as chair of the US Federal Reserve has fuelled market expectations of faster-than-expected stimulus tapering and earlier than expected interest rate increases, triggering calls for China to make early preparations for the United States normalising its monetary policy.
Surging Inflation Is Forcing Big Investors to Recalibrate Their StrategiesNov 24, 2021 - 05:21:26 PST
The surge in U.S. inflation is sending some of the biggest names on Wall Street into rethink mode, forcing them to recalibrate strategies that depended on bonds as a shock absorber against equity downturns.
In a statement Tuesday, Warren accused ConocoPhillips, EQT Corp., Exxon Mobil Corp. and eight other natural gas producers of raising prices, reaping record profits and “gaming the system” by keeping production low and raising exports, instead of ensuring that there’s enough domestic supply.
Stock Market News Live Updates: Stock Futures Fall Ahead of Inflation DataNov 24, 2021 - 05:17:21 PST
Stock futures dipped Wednesday morning, holding lower following an extended rout in technology stocks, as investors anxiously awaited a packed slate of economic data results before a holiday market closure. Contracts on each of the S&P 500, Dow and Nasdaq pointed to lower opens.
The real trouble will start when this year’s energy crisis morphs into next year’s food inflation problem.
Nov 23, 2021 - 18:32:25 PST
Spiking inflation is pinching household budgets by raising the cost of living. It threatens to put an end to rising stock prices, too.
Nov 23, 2021 - 13:06:07 PST
As global currencies fall deeper toward the ocean floor in a sea of excess liquidity, gold, like an historically faithful cork, makes its way to the surface to get the final word. In short: It’s not that gold is getting stronger, it’s just that the currency in your wallet, bank and portfolio is getting weaker.
Inflation has most definitely arrived, and 2021 will see record costs for a Thanksgiving dinner. Where will central bank inflation show up next? Should we just do as the Fed suggests and start eating soy? Most importantly, how can we protect ourselves from these Turkeys? Join Mike Maloney and Adam Taggart as they analyze the latest news from Turkey, Poland and the USA.
Many economic commentators are in favor of phasing out cash. They are of the view that cash provides support to the shadow economy and permits tax evasion. It is also held that in times of economic shocks that push the economy into a recession the rising demand for cash exacerbates the downturn...
Although CBDC deployment seems imminent across some major central banks, the Federal Reserve’s progress on a digital dollar is still lagging behind both the digital euro and digital yuan. China has gone the furthest with its digital currency, e-CNY, looking to deploy it even more widely before the 2022 Beijing Winter Olympics.
The Federal Reserve and other agencies have issued a blueprint for crypto-regulations. Here's what's in store.
For months the battle over the Federal Reserve has been playing out within the financial press. On one side, the Warren wing of the Democrat Party trying to make institutional gains within the central bank. On the other, allies of Janet Yellen have promoted Jerome Powell as a fellow traveler. Today, Joe Biden was finally...
Nov 23, 2021 - 11:16:20 PST
President Joe Biden on Tuesday ordered 50 million barrels of oil released from America's strategic reserve to help bring down energy costs, in coordination with other major energy consuming nations, including India, the United Kingdom and China.
The company — one of America's last remaining true dollar stores — said Tuesday it will raise prices from $1 to $1.25 on the majority of its products by the first quarter of 2022. The change is a sign of the pressures low-cost retailers face holding down prices during a period of rising inflation.
Supposedly transitory one-off price adjustments in the United States have become pervasive, and a major inflation shock is now at hand. But despite the flashing warning signs, the Federal Reserve remains wedded to a monetary policy strategy born of the low-inflation past
Nov 23, 2021 - 08:27:20 PST
If you’re looking for a hard asset that is unloved and underowned, gold and gold mining stocks will be a very good place to be. f I’m right with my forecast and the dollar depreciates next year and real interest rates stay negative, this will be a very important tailwind for gold.