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Fed Is in Denial About ‘Persistent’ Inflation, Wall Street Forecaster Jim Bianco WarnsNov 3, 2021 - 07:29:01 PDT
Market forecaster Jim Bianco expects inflation’s intensity to catch up with central bank policymakers worldwide, including the Federal Reserve.
Following the weakness on the Manufacturing side of the economy (PMI ugly down, ISM small drop), the Services surveys were expected to be more mixed (PMI small drop, ISM small gain).
Just In Time For The Taper: Treasury Cuts Long-Term Debt Sales For The First Time Since 2016Nov 3, 2021 - 07:05:17 PDT
Heading into today's Treasury refunding announcement, consensus expected Janet Yellen to trim the size of the coming quarterly debt sale by roughly $2 billion per tenor, the first such cut in long-term debt sales since Feb 2016.
Fed Taper, Inflation ‘The Worst Equation’ for the Market, Sees 15% CorrectionNov 3, 2021 - 06:54:35 PDT
One investor thinks the market is likely to pull back from records as the central bank confronts price pressures that are throttling businesses and consumers.
ADP reports that 571k jobs were added in October, well above the 400k expected, but we note September's 568k print was revised significantly lower to 523k.
The mainstream blames inflation on "supply chain bottlenecks." But they have it completely backward. In reality, Federal Reserve-created inflation is causing the supply chain mess.
The Fed Is About To Set Its Post-Crisis Policy Course — With a High Level of Uncertainty AheadNov 3, 2021 - 05:36:52 PDT
When the Federal Reserve adjourns its meeting Wednesday, it will be doing more than scaling down its economic aid. The central bank will be charting a course for its post-pandemic future.
Biden told reporters that he has been thinking about personnel decisions, including whether to re-nominate Fed Chair Jerome Powell, and that he expected there would be “plenty of time” for his central bank nominees to be cleared by the Senate before current terms expire.
Central bankers hold the key to one of the most important levers in the climate-change fight: Currency.
Investor appetite for Asian dollar bonds is dwindling as a credit crunch among Chinese property firms ripples through the region’s broader debt market.
Global stock markets traded at fresh record-high levels on Wednesday while the dollar and U.S. Treasury yields ticked down as investors braced for the world's largest economy to start cutting pandemic-era monetary stimulus. The U.S. Federal Reserve is expected to announce the tapering of its $120 billion-a-month asset purchase program in its policy statement at 1800...
$9.5 Billion Spent Using Chinese Central Bank’s Digital Currency – OfficialNov 3, 2021 - 05:18:23 PDT
Some 140 million people had opened "wallets" for China's new digital yuan as of October and used it for transactions totalling around 62 billion yuan ($9.7 billion), a senior Chinese central bank official said on Wednesday. However, Mu Changchun, the director-general of the digital currency institute of the People’s Bank of China, told Hong Kong’s “Fintech Week" conference...
The European Central Bank is very unlikely to raise interest rates next year as inflation remains too low, European Central Bank President Christine Lagarde said on Wednesday, pushing back on market bets for a move as soon as next October. With inflation running at a 13-year-high, markets are increasingly betting that the ECB will retreat from its ultra easy monetary policy...
Central banks are facing a revolt from the once-lifeless bond markets they stitched together with quantitative easing -- one which threatens the longer-term outlook for growth and risk assets.
Nov 3, 2021 - 05:07:31 PDT
No Rate Change, Slight Decrease In Asset Purchases As M2 Money Velocity Collapses And Real Hourly Earnings Growth Is Negative. The Federal Open Market Committee is all but certain to hold rates near zero after a two-day policy meeting and announce a $15 billion monthly reduction in bond buying from the current $120 billion pace...
The Federal Reserve has held interest rates artificially low for decades. Even after pushing rates to zero in the wake of the 2008 financial crisis, "normalization" only managed to raise rates to 2.5% — hardly "normal." The central bank began cutting rates in 2019, even before the coronavirus pandemic.But what difference does it make? Why do artificially low interest rates matter? Peter Schiff explains in this clip from his podcast.
Interested in protecting the purchasing power of your wealth from inflation, learning how the US dollar and other world currencies are likely to perform from here, the roles of gold silver & cryptocurrencies, or whether the Federal Reserve & other central banks are going to soon issue digital currencies (CBDCs)? Then watch this video.
After sitting on the sidelines for much of last year, central bank appetite for gold has resumed, in part due to inflationary pressures globally along with disruptions in the energy market.
Gold prices fell Tuesday ahead of a crucial Fed meeting that could offer cues on future interest rate hikes amid rising inflationary pressures.
The Reserve Bank of India was the largest buyer of gold among all central banks in the third quarter of 2021. India’s gold reserves grew by 41 tonnes to 745 tonnes during this period. It also marks a slight increase in the pace of buying by the RBI. In fact, central bank demand in general has been one of the highlights of the gold market this year.