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Watch Fed Chair Powell Speak Live to Senate Banking Panel on the Economy and Policy: 9:30AM ETJul 15, 2021 - 06:29:07 PDT
[The stream is slated to start at 9:30 am ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell appears Thursday before the Senate Committee on Banking, Housing and Urban Affairs to conclude his two-day appearance on Capitol Hill to discuss the economy and the future of monetary policy.
US Manufacturing Production Unexpectedly Shrank In June Amid Automaker BottlenecksJul 15, 2021 - 06:28:06 PDT
But this is hardly the picture of a rosy recovery being painted by all and sundry in the MSM.
Despite mounting evidence to the contrary, Federal Reserve Chairman Jerome Powell stuck to his "transitory" inflation narrative during testimony House Financial Services Committee. That's his story and he's sticking to it!
Gold prices rose their highest level in a month on Thursday after U.S. Federal Reserve Chair Jerome Powell played down fears of the early easing of monetary support, sending the dollar and U.S. Treasury yields lower.
Initial Claims Disappoint But Total Number Of Americans On The Dole Drops Below 14 MillionJul 15, 2021 - 05:38:33 PDT
Initial jobless claims fell last week from 373k to 260k (a new post lockdown low), but that was worse than the 350k expected... Finally, judging by the most recent ISM Survey data (focusing on the employment subindices), claims could be about to take a turn for the worse once again...
GDP grows 1.3% versus first quarter as speculation rises of more policy support...
“The BoJ is not expected to tighten policy anytime soon and will maintain its massive stimulus in the next few years.”
Jul 15, 2021 - 05:24:53 PDT
The recent conclusion to the ECB’s Strategy Review on monetary policy increases the likelihood that the bank will continue buying assets on a large-scale once its Pandemic Emergency Purchase Program (PEPP) is scheduled to come to an end in March 2022, says Fitch Ratings in its latest Economics Dashboard.
Bank of England Deputy Governor Dave Ramsden said the BoE might start to think about reversing its huge monetary stimulus sooner than he previously expected due to growing inflation pressures as Britain's economy bounces back from its COVID slump.
Federal Reserve Chair Jerome Powell said it was still too soon to scale back the central bank’s aggressive support for the U.S. economy, while acknowledging that inflation has risen faster than expected.“At our June meeting, the committee discussed the economy’s progress toward our goals since we adopted our asset purchase guidance last December,”...
President Joe Biden made the case for his sweeping, two-track infrastructure initiative on Capitol Hill on Wednesday, a day after leading Senate Democrats agreed on a $3.5 trillion plan billed as the biggest boost in decades for U.S. families.
The IRS and President Biden are stepping up rules to crack down on cryptocurrency holders in the U.S.
Treasury yields fell on Thursday morning, following a dovish message on monetary policy from Federal Reserve Chairman Jerome Powell in the previous session.
The markets were looking for signs that the transitory inflation period was coming to an end. They didn't get it when the June CPI number came in much hotter than expected. In his podcast, Peter Schiff talked about the latest price data and said it reveals the dirty little secret - all of this talk about transitory inflation is a ruse. Even worse, despite what the markets seem to think, there's nothing the Federal Reserve can do it.
In his book Denationalisation of Money, F.A. Hayek argued that governments have never devoted their power to providing proper money over time. They “have refrained from grossly abusing it only when they were under such a discipline as the gold standard imposed.”F.A.
The US stock market is 51% overvalued and at risk of a 34% decline. The catalyst is inflation which has arrived in spades and is likely to stay for a while. We think shrewd investors should be getting positioned now for the Great Rotation to both protect against and profit from this critical macro shift. Inflation is likely to be one of the defining characteristics of this decade, and anything but short-term...
Jul 14, 2021 - 13:28:03 PDT
A remarkable new study by a director at one of the largest accounting firms in the world has found that a famous, decades-old warning from MIT about the risk of industrial civilization collapsing appears to be accurate based on new empirical data.
Jul 14, 2021 - 13:22:29 PDT
‘Black Swan’ Author Nassim Taleb Says Bitcoin Is Worth Zero and Fails as a Currency and a HedgeJul 14, 2021 - 13:20:27 PDT
The author of “The Black Swan” said in a recent paper that the largest cryptocurrency by market cap has failed to satisfy the notions of it as a currency without government, as a hedge against inflation and as a safe haven investment. “Few assets in financial history have been more fragile than bitcoin,” he said.
Jerome Powell, Janet Yellen, Ben Bernanke, Alan Greenspan: The chair of the Federal Reserve Board of Governors is the default face of the Fed — the one name the public typically knows. But the board is actually composed of seven members, all with equal votes.