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Bank of America Says the Fed Is Playing With Fire by Downplaying Inflation and Needs a New PlaybookOct 21, 2021 - 08:48:28 PDT
The Fed is effectively "fighting the last war," BofA global economist Ethan Harris said.
Oct 21, 2021 - 08:31:19 PDT
There is the growing impression that Fink is functioning in a consultant capacity to the Federal Reserve while his company, BlackRock, also manages a significant part of Powell’s wealth. See our earlier report: BlackRock Authored the Bailout Plan Before There Was a Crisis – Now It’s Been Hired by three Central Banks to Implement the Plan.
Private Banks operated by the mega Wall Street banks have an unseemly reputation. So when we opened Atlanta Fed President Raphael Bostic’s financial disclosure forms and saw that he had a financial relationship with Morgan Stanley’s Private Bank, a red flag went up immediately.
Oct 21, 2021 - 08:17:01 PDT
Manchin's $1.5 trillion plan is still bigger than the Obama stimulus, and would be a major expansion of government's power to redistribute wealth.
In an abrupt change, the White House is floating new plans to pay for parts of President Joe Biden’s $2 trillion social services and climate change package, shelving a proposed big increase in corporate tax rates though also adding a new billionaires' tax on the investment gains of the very richest Americans.
Oct 21, 2021 - 07:56:01 PDT
It was a surprise to see 6.29 million home sold SAAR in September. That is a 7% MoM growth rate. The median price of existing home sales GROWTH slowed to 15.85% YoY (it was over 24% for the last two months).
Oct 21, 2021 - 07:42:51 PDT
From the garbage collectors’ strike in Brighton, on England’s south coast, to the thousands of employees who left the American tractor manufacturer John Deere, wage disputes are becoming a hot spot for investors and policy makers. as developed economies recover from the pandemic. Emboldened by staff shortages, rising energy prices, and living costs...
Market-implied expectations for U.S. inflation for the next half-decade surged to the highest in 15 years on Thursday amid the latest increase in commodity prices.
We know that the Federal Reserve pushes interest rates artificially low by manipulating the federal funds rate (the target interest rate that commercial banks borrow and lend their excess reserves to each other) and using monetary policy maneuvers such as quantitative easing. But could we have low interest rates without Fed intervention? In this clip, Peter Schiff explains the difference between artificially and naturally low interest rates and how the Fed messes up the economy with its intervention.
The inflation that we were emphatically told would be transitory and unmoored continues to persist and entrench. As the troubles gather momentum Washington is doing its best to ignore the problem or actively make it worse.
Gold prices rose for a third straight session on Thursday as a softer dollar lifted bullion's appeal, while investors assessed whether higher inflation would prompt central banks to raise interest rates sooner than expected.
Despite Surge In California, Initial Jobless Claims Slide To Post-Lockdown LowsOct 21, 2021 - 05:38:50 PDT
The total number of Americans on some form of government dole continues to slide as pandemic aid is cut off...
Just 37% of Americans questioned in a Quinnipiac University survey say they approve of the job Biden’s doing as president, with 52% giving him a thumbs-down. The poll was conducted Oct. 15-18 and released Tuesday.
US index futures dropped after IBM and Tesla fell after their quarterly results, with investors turned cautious awaiting more reports to see the see the adverse impact of supply chain disruption and labor shortages on companies even as jitters remained over elevated inflation and the outlook for China’s property sector.
Fitch Ratings has downgraded the Chinese homebuilder Central China Real Estate Limited's (CCRE) Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'B+' from 'BB-'. The Outlook is Negative. Fitch has also downgraded the senior unsecured rating and the ratings on CCRE’s outstanding US-dollar senior unsecured notes to ‘B+’ with Recovery Rating of...
Total assets rose by another €22.4bn to hit fresh ATH at €8,336.7bn as Lagarde keeps printing press rumbling. EBC Balance sheet now equal to 77% of Eurozone GDP vs US's 37%, BoE's 38% and BoJ's 133%.
The Boston Federal Reserve will not release documents that could show whether its former president vetted a series of personal investments last year with its ethics officer, a spokesman for the regional Fed bank said, a key point in an ongoing ethics controversy at the U.S. central bank. Eric Rosengren, along with Dallas Fed President Robert Kaplan...
10-Year Treasury Yield Holds Above 1.64% Ahead of Weekly Jobless Claims DataOct 21, 2021 - 05:14:10 PDT
The 10-year U.S. Treasury yield held above 1.64% early on Thursday, ahead of the release of weekly jobless claims data.
Federal Reserve Governor Randal Quarles said he favors an initial move to slow monetary stimulus next month and is concerned by a broadening of inflationary pressures that could require a policy response.
Exit of ECB’s Weidmann, Decade of Economic Change Shows Hawk As Endangered SpeciesOct 21, 2021 - 05:11:25 PDT
German Bundesbank President Jens Weidmann was just a year into his tenure when the world began to change with three words.