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Australia’s Central Bank Wants Inflation Tamed Before Expectations Fire It up AgainMay 2, 2023 - 05:35:10 PDT
Australia's central bank is ready to tighten policy further to prevent inflationary expectations from re-igniting price rises, its governor said after surprising markets by raising interest rates to a 11-year high earlier on Tuesday. "The Board's central objective is to return inflation to the 2–3 percent target range within a reasonable timeframe,"...
As Wall Street economists and central bankers debate if and when the US economy will slip into a recession, big money managers aren’t waiting to find out.
Underlying inflation in the euro area eased for the first time in 10 months, backing the case for the European Central Bank to slow the most aggressive interest-rate hiking campaign in its history later this week.
Bank failures? Meh. The world's top financial and business minds see bigger risks.
Global shares fell on Tuesday as caution set in ahead of the Federal Reserve's upcoming policy meeting, while bumper profits at Europe's biggest bank gave financial stocks a boost. The Australian dollar soared after the central bank stunned markets with a surprise interest rate hike, while in U.S. markets short-dated government bond yields shot up after the Treasury...
Treasury Secretary Janet Yellen keeps insisting that the banking system is "sound." Is it though? Because it doesn't look particularly sound.In fact, we just witnessed the second-largest US bank failure ever.
On May 1, new Federal Housing Finance Agency (FHFA) rules went into effect that will allow borrowers with lower credit ratings to qualify for better mortgage rates than they otherwise would have. Meanwhile, borrowers with better credit ratings will pay higher fees to subsidize the program. Peter Schiff recently appeared on Real America with Dan Ball to talk about the new rules.
Russian gold miners boosted output by 26.5% year-on-year in March, according to the latest data from the Federal State Statistics Service (Rosstat).
Put it this way: if interest rates and equity prices were the only two economic variables in the entire macro system, the market would be down 80% off its highs by now, at least. But they’re not. Instead, we have to contend with things like the money supply and market psychology, not to mention commodities, Fed bond buying (and selling), and numerous other “wild cards”. This...
In March 2009, in the midst of recession, then Treasury secretary Timothy Geithner was pressed to respond on the question of whether or not another currency—possibly the IMF’s special drawing rights (SDRs)—might displace the US dollar as the dominant global reserve currency.
The taming of monetary policy necessary to slow price inflation has triggered a corrective trend in the valuation of financial instruments.
May 1, 2023 - 12:35:02 PDT
On Wall Street, the business model is you eat what you kill. Jamie Dimon and the bank he helms, JPMorgan Chase, just devoured First Republic Bank after Dimon had orchestrated the worst “rescue” of First Republic in the history of banking rescues. Given the outcome, one has to wonder if this rescue flop was a bug or a feature.
BANK FAILURES: "My Feeling Is This Is Just Ramping Up...It is International Now"May 1, 2023 - 12:34:42 PDT
In today’s video, Mike examines the facts and exposes some troubling signs brewing in the banking system.
As long as we mint millions from a Never-Ending Bull Market, we'll always stay one step ahead of the Debt Monster. AI! .
Michael Barr, the Fed's Vice Chair for Supervision, admits some responsibility for the collapse of SVB. But a huge report on the bank failure is mostly a power grab.
It is beyond disturbing that the government right now is bailing out banks left and right, with a ho hum attitude, as if it’s no big deal. That attitude has grown on the Treasury Secretary and Fed like a mold, left over from the damp blanket of hubris-laden monetary policy we draped the economy with over the last 15 years.
Bernie Sanders: Government Should Confiscate All Wealth Over $999 MillionMay 1, 2023 - 12:16:24 PDT
Of course, once such a wealth confiscation is announced, billionaires will depart for friendlier shores, there will be very little left to confiscate, and entrepreneurs will be creating jobs and wealth elsewhere.
The Fed Says Don’t Worry About U.S. Banks, but Why Should Anyone Believe Them?: MWMay 1, 2023 - 09:09:06 PDT
Regulators -- including the Fed -- have failed to keep the U.S. banking system safe, writes Joseph Stiglitz.
As the U.S. federal government and Federal Reserve head ever more into the abyss of destroying the value of the U.S. dollar, continually breaching debt ceilings, creating asset bubbles, and intervening in and manipulating financial markets, there is an accelerating counterforce emerging in the U.S. that is the antithesis of this madness.
Illinois Gov. J.B. Pritzker shrugged last year after several high-profile corporations left his state. “Countless companies are choosing Illinois as their home,” Mr. Pritzker said. Then why does a new Internal Revenue Service report show an accelerating taxpayer exodus from Illinois and other high-tax states?