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The left is split on whether President Biden should reappoint Jerome Powell as Fed chair or replace him with someone more aggressive on climate change.
Consequently, the Fed is unlikely to change its ongoing ultra-dovish monetary policies anytime soon as Powell clearly said that the economy has to improve a lot, especially related to the labor market, to achieve the Fed’s target of substantial progress.
Corporate bond yields are at or near record lows as investors plow into CCC and even unrated debt. Will record optimism be rewarded?
ECB To Kick Off Its Tapering Debate As Inflation Surges to a 10-Year HighSep 8, 2021 - 05:18:23 PDT
Market participants are keenly watching the European Central Bank this week as the Frankfurt institution meets to discuss its pandemic-era stimulus.
Euro zone banks are set to face a further deterioration of their loan book and many lenders have failed to adjust their credit control norms to acknowledge the unique nature of the pandemic, European Central Bank supervisory chief Andrea Enria said. “There are signs that the asset quality deterioration caused by the pandemic may not yet have peaked,..
Bitcoin nursed losses Wednesday after plunging amid El Salvador’s troubled rollout of the largest cryptocurrency as legal tender.The virtual coin was trading near $46,150 as of 6:31 a.m. in New York, having slid as much as 17% a day earlier before paring some of the losses. The downdraft also swept across tokens such as Ether and Dogecoin...
World Bank Says Can’t Help El Salvador on Bitcoin Due to Environmental, Transparency ConcernsSep 8, 2021 - 05:12:26 PDT
The World Bank reiterated on Tuesday that it could not help El Salvador in its process of adopting bitoin as legal tender "given environmental and transparency shortcomings," a World Bank spokesperson told Reuters. “While the government did approach us for assistance on bitcoin, this is not something the World Bank can support given the ...
Mortgage rates appear to be stuck in a holding pattern, giving borrowers no particular incentive to act, especially on refinances. Total mortgage application volume fell 1.9% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. It was at the lowest level since last July.
Dr Anthony Fauci has been accused by critics of lying after newly released documents appear to contradict his claims that the National Institute of Health did not fund gain-of-function research at China’s Wuhan lab.
The August jobs numbers came in much lower than expected, a kick in the teeth for those touting the "improving economy" narrative. Meanwhile, personal incomes continue to grow but rising prices are eating up that growth and then some.The economic data suggest the Fed's plan is failing and stagflation looms on the horizon.
During his Jackson Hole speech, Federal Reserve Chairman Jerome Powell rewrote the history of inflation. In this clip from his podcast, Peter Schiff unravels the yarn that Powell spun.In a nutshell, Powell claimed prior Fed policymakers mistakenly moved too fast to address inflation that turned out to be transitory, and he said he didn't want to make the same mistake.
Behind the scenes at the Federal Reserve, something is up. While we can’t yet say exactly what it is, Mike Maloney has compiled some compelling evidence showing that whatever it is…it’s big. Check out today’s video update to find out more.
An Australian prospector is aiming to tap into what it says is a robust long-term demand outlook for silver, a key ingredient in solar panels. Silver Mines Ltd.’s Bowdens project in New South Wales -- set to start operations in 2023 -- will have an initial output target of 6 million ounces a year, said Managing Director Anthony McClure. That will make it the...
Sep 7, 2021 - 13:19:32 PDT
In the latest episode of growing trade tensions between the worlds’ top two economies, the US is now officially blocking the import of solar panels from China over concerns of forced labor. The implications of such a move could be huge; solar energy is currently the fastest-growing source of new electricity generation in the United States.
Sep 7, 2021 - 13:10:39 PDT
“We found exactly 392 Prague groschen from around the year 1400. These groschen were minted from roughly the year 1300 to 1550 with slight adjustments being made on the coins as each ruler came to power.
Sep 7, 2021 - 12:39:06 PDT
As always, I recommend a 10% weighting in gold, with 5% in physical bullion and 5% in high-quality gold stocks and ETFs. I also recommend no more than 2% in cryptos, particularly Bitcoin and Ether. Remember to rebalance on a quarterly basis.
While it is easy to assume “this time is different,” the “Fed won’t let markets collapse,” or “insert your rationalization here,” there is a lot of history arguing with you. However, amid a speculative driven mania, it is certainly understandable to get an email such as this: “Recently, the Nikkei was down ~4% premarket, and the BOJ stepped in to buy 70bn Yen...
U.S. shares were mixed and global equities retreated from record highs on Tuesday, as mounting worries over the slowing pace of economic recovery and the impact of the coronavirus Delta variant overtook investors' hopes the Federal Reserve will delay tapering.
Here is more evidence that bond yields are basing. The incredible era of ultra-low interest rates and bond yields could be in the process of changing, judging by the chart of the German 10-year government bond. The Bund yield fell from 4.70% in 2008 to a low of minus 0.91% in 2020.
August's jobs report, besides being a big disappointment, also showed that even with weak hiring, wages are rising.