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The Biden administration will slow U.S. and global growth with a combination of higher taxes, more regulation and wasteful spending on programs such as the Green New Deal. Biden administration deficit spending, which will approach $6 trillion of new authorizations in fiscal 2021, is continually claimed as stimulus.
If the Fed Doesn’t Slow the Pace of It's Monthly Bond Purchases in the Next Few MonthsSep 17, 2021 - 08:17:31 PDT
If the Fed doesn't slow the pace of its monthly bond purchases in the next few months, its balance sheet will be close to $9 trillion by yearend. In the past three months alone, its holdings have expanded by $384 billion, to $8.45 trillion.
Today is Constitution Day.We're supposed to be celebrating the day the Constitution was signed and presented to the states for ratification. But it's pretty hard to celebrate because the Constitution is dead.
Several central banking big-hitters meet in coming days, with the U.S. Federal Reserve's Sept. 21-22 meeting topping the must-watch list.
Democrats Spark Disappointing Sentiment Survey In Early September, Buying Conditions CrashSep 17, 2021 - 07:44:06 PDT
Current Conditions actually fell further in early Sept data, from 78.5 to 77.0; as Expectations rose modestly from 65.1 to 67.1.
The editor-in-chief of state-backed Chinese newspaper Global Times warned debt-ridden property giant Evergrande Group (3333.HK) that it should not bet on a government bailout on the assumption that it is "too big to fail".
The Federal Reserve, facing a labor market that may be stalling or on the cusp of a surge, is expected next week to open the door to reducing its monthly bond purchases while tying any actual change to U.S. job growth in September and beyond.
China’s tough virus curbs mean economic activity in the third quarter could be close to flat compared with the previous three months, while full-year growth may fall below 8%, a top forecaster said.“My view is that the Chinese economy should slow sharply in the third quarter, mainly due to the virus but also controls on property,” ...
US Secretary of State Antony Blinken says the "unshakeable alliance" between the United States and Australia will stand up to pressure from China.
U.S., China Jockey for Position in Pacific With Moves on Security, Trade: WSJSep 17, 2021 - 07:22:34 PDT
China moved to counter an effort by the U.S., U.K. and Australia to contain its ambitions in the Pacific, saying it would apply to join a regional economic pact the U.S. had eschewed.
CPI data came in slightly cooler than expected for August, giving new energy to the "transitory" inflation narrative. But can we really trust these numbers? In this episode, Friday Gold Wrap host Mike Maharrey takes a deep dive into the CPI and considers this question. He also touches on the big gold sell-off Thursday sparked by surprisingly good retail sales numbers.
The latest information on the world economy Sign up for myFT Daily Digest to get the world economic news first. This month, the nasty topic of debt is sneaking up on Washington’s political radar, late.Last week, Treasury Secretary Janet Yellen said Congress Debt cap (Or borrowing limit). Meanwhile, the Biden administration is facing opposition Aiming …
The Federal reserve says that inequality is a problem. At the same, the Fed also pretends to have nothing to do with it.
It is perhaps as predictable as it is problematic: Within days of news that two Federal Reserve bank presidents had engaged in controversial stock trades, one of the fiercest critics of the U.S. central bank's financial system oversight demands new ethics rules that would bar such dealings in the future. For Fed Chair Jerome Powell, however...
Critics Fear SEC’s Gentler Is Seeking ‘Unlimited Powers’ in Crypto Regulation: MWSep 17, 2021 - 05:16:29 PDT
Chairman Gary Gensler ruffled feathers in the cryptocurrency community when he declined rule out regulating stablecoins as securities during a hearing before the Senate Banking Committee on Tuesday, but stablecoin issuers will have larger regulatory headaches than the SEC if reformers get their way.
Cryptos are challenging the dollar’s long dominance in world finance. We examine the threats and opportunities as currencies go digital.
Protests intensify at China Evergrande Group offices across the country as the developer falls further behind on promises to more than 70,000 investors. Construction of unfinished properties with enough floor space to cover three-fourths of Manhattan grinds to a halt, leaving more than a million homebuyers in limbo.Fire sales pummel an already shaky real ...
China injected more cash into its banking system in a sign authorities are seeking to avert a funding squeeze amid a seasonal rise in financing demand and the intensifying debt crisis at China Evergrande.The People’s Bank of China added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements on Friday,...
A Downturn in the Global Industrial Economy Is Already Underway, Currency Chart ConfirmsSep 17, 2021 - 04:59:50 PDT
Lakshman Achuthan, co-founder of the Economic Cycle Research Institute, says the currency markets are now confirming his call.
In the latest TIC data - from July - Treasuries (and agency debt) were bid by foreigners as a wave of fear crossed the globe over the Delta variant, and stocks (and corporate bonds) were dumped en masse.