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Fed’s Powell in the Spotlight as Pressure Grows to ‘Fish or Cut Bait’ on RatesMay 19, 2023 - 05:46:25 PDT
Wall Street, small businesses and potential homebuyers may all breath a sigh of relief if the Federal Reserve chooses not to raise interest rates at its policy meeting next month, as many traders and analysts expect. But U.S. central bank officials are not only still on the fence about a pause in their 14-month tightening cycle, they are only starting to hash out whether to frame...
Fed May Be Forced to Defy Market Expectations and Hike More Aggressively, Economist SaysMay 19, 2023 - 05:46:25 PDT
The U.S. Federal Reserve may be forced to defy market expectations by hiking interest rates aggressively again later this year if sticky inflation and tight labor markets persist, according to Daniele Antonucci, chief economist and macro strategist at Quintet Private Bank.
The European Union has approved a set of rules—the first such regulation in the world—to regulate crypto assets like cryptocurrencies and tokens in a bid to curb money laundering activities and protect investors.
China’s yuan jumped on Friday after the country’s central bank moved to shore up the currency following a recent selloff, vowing to curb speculation and calling for more stability in the foreign exchange market.
US banks have been locked in a grueling battle for deposits they once took for granted. And one of the toughest combatants in the fight is the federal government.
Battered By Inflation, 90 Million Americans Struggle Paying Bills As Credit Card Usage Spikes May 19, 2023 - 05:36:17 PDT
A large swath of American consumers are facing financial hardship as they grapple with elevated living costs, record-high credit card use, and two years of negative real wage growth. This perfect storm could decimate financially fragile households in the next downturn.
Borrowing from the Federal Reserve’s backstop liquidity facilities rose last week, with loans outstanding from one of them hitting a fresh high, as financial stresses lingered in the banking system.
Markets are looking for an abrupt reversal in the Fed's rate hikes later this year. Strategists at Bank of America think no matter what happens, investors will find themselves flat-footed.
Global shares hit a one-month high on Friday as markets reflected increased hopes of a U.S. debt ceiling deal that could avoid a potentially calamitous default.
There are a few things that Friday Gold Wrap host Mike Maharrey writes about that don't seem to garner much interest. In this show, Mike is going to talk about two of those things, why they matter, and why you should care. He also talks about the recent drop in the price of gold and what the markets are getting wrong.
May 18, 2023 - 13:08:38 PDT
“We think this trend of central bank buying is likely to continue amid heightened geopolitical risks and elevated inflation,” the analysts said.
Gold Prices at Lowest Since March as Dollar Rises and U.S. Debt-Ceiling Deal Looks ‘Doable’: MWMay 18, 2023 - 13:07:23 PDT
Gold futures settled at their lowest level since late March on Thursday, pressured by a stronger U.S. dollar and hopes for a deal to raise the U.S. debt ceiling by Congress.
May 18, 2023 - 12:58:14 PDT
The current framework has its downsides. For one, it has resulted in the Fed’s earning substantial losses over the past seven months in its efforts to fight inflation. The current framework has also permitted the Fed to expand its role in allocating credit, reducing the efficiency of the financial system. Nevertheless, if policymakers intend to stick with the framework, they can fight inflation without risking a financial crisis.
May 18, 2023 - 12:46:23 PDT
The Fed has a balance sheet of $8.6 trillion, which has resulted from its serial Quantitative Easing (QE) programs where it buys up trillions of dollars of government-backed debt securities, creating demand that would not otherwise exist, in order to drive down interest rates to prop up an economy crippled by serial bank crises.
May 18, 2023 - 12:41:25 PDT
The banking system is in crisis. This year, the collapses of Silvergate Bank, Signature Bank, Silicon Valley Bank and First Republic Bank sent shockwaves throughout the U.S. financial system, underscoring how even regional and midsized banks greatly impact the stability of the economy.
'What if the yield curve isn't inverted because the Fed has raised rates too high, but because long-term Treasury yields are too low?'
New data shows that 2023 is shaping up to be the biggest year for Chapter 11 filings in more than a decade.
'Most of the time, when these two plots disagree, copper usually ends up being right about the direction in which both end up heading.'
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Hike Again? Take a Pause? Fed Officials Are Split About What to Do Next to Fight InflationMay 18, 2023 - 11:57:15 PDT
The stubbornness of high inflation is dividing the Federal Reserve over how to manage interest rates in the coming months, leaving the outlook for the Fed's policies cloudier than at any time since it unleashed a streak of 10 straight rate hikes beginning in March 2022. Many Fed watchers have expected the central bank's officials to forgo another increase in their benchmark rate when they next meet in mid-June.