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Kashkari Says Wage Growth Is Too High, Fed Can't Declare Victory Or There Will Be "Flood Of Exuberance"Mar 1, 2023 - 08:01:39 PST
Speaking at a question-and-answer session in Sioux Falls, South Dakota, Minneapolis Fed President Neel Kashkari, who is a voter on the FOMC in 2023, said that he has not yet decided if he will back accelerating the central bank’s interest-rate increases when officials meet later this month, amid signs inflation is not cooling as hoped, and explained why the Fed will not stop until...
Investors have been slower than a tank of turtles swimming in molasses when it comes to grasping reality, but they may be getting the message on inflation and the Fed’s fight ahead at last.
Gold rose on Wednesday as strong Chinese economic data dented the dollar and drove some bets for better physical demand from the top bullion consumer.
Fed’s Bostic, Kashkari Call For Higher Rates After ‘Concerning’ Inflation, Jobs DataMar 1, 2023 - 07:36:16 PST
Two Fed officials on Wednesday emphasized the central is likely to need a more aggressive increase in interest rates in the coming months to slow inflation.
Mar 1, 2023 - 07:28:33 PST
The horrific environmental disaster in East Palestine, Ohio has contaminated the air, the soil and the water in much of the region. So how much, if any, of the food that is grown in that part of the country will be safe to eat?
Mar 1, 2023 - 07:24:42 PST
Before reviewing the PJM Interconnect February 2023 report, let's take a look at policies and regulations.
The Most Splendid Housing Bubbles in America, February Update: Biggest Price Drops Now...Mar 1, 2023 - 07:17:13 PST
Even in Miami and Tampa, prices down for 5th month in a row.
Mar 1, 2023 - 07:15:37 PST
Today’s mortgage application (demand) numbers from the Mortgage Bankers Association was disappointing to say the least. Mortgage purchase demand just sank to it lowest level since 1995.
S&P Global's US Manufacturing PMI February final printed 47.4, below the flash 47.7, but above January's 46.9. ISM's US Manufacturing February printed , versus expectations of 48.0, from January's 47.4. So, slower growth and re-accelerating inflation - that's not what The Fed ordered!
Mar 1, 2023 - 05:53:31 PST
Roubini urged investors to move away from "traditional" investments like bonds and equities, and to instead invest in inflation hedges, including short-term bonds, inflation indexed bonds, commodities, and precious metals such as gold.
Price growth remains stubbornly high and central bankers worry that pay settlements will keep it that way
Fed’s Goolsbee Says This Is a ‘Strange and Unprecedented Moment’ for U.S. Economy: MWMar 1, 2023 - 05:48:12 PST
New Chicago Federal Reserve Bank President Austan Goolsbee on Tuesday said this was a 'strange and difficult moment' for the U.S. economy.
Mar 1, 2023 - 05:38:54 PST
The former Treasury Secretary said he would be surprised if the Fed was able to avoid a recession while extending efforts aimed at bringing down inflation.
The US stock market overall continues to look overvalued, despite a protracted bear market. Rekindled inflation would point towards value as a factor to focus on for outperformance.
Bundesbank President Joachim Nagel said he supports a more rapid reversal of the European Central Bank’s bond-buying to help tackle inflation, with more large interest-rate increases also a possibility beyond a planned hike this month.
US equity futures ticked higher as speculation that central banks are likely to stay hawkish for the coming months weighed on gains. German government bonds extended declines on hotter-than-expected inflation data.
The yen has room to weaken further as Japan’s deteriorating international trade position adds to pressure to maintain a softer currency, potentially hindering the Bank of Japan’s scope to battle inflation with tighter monetary policy.
The yield on six-month bills rose above 5% on Feb. 14, making it the first US government obligation to reach that threshold in 16 years. That yield is slightly higher than those on 4-month and one-year bills, reflecting the risk of a political skirmish over the federal debt limit when it comes due.
For the past year, both the Biden White House and the Fed have been desperate to usher in a (mild) recession in the US to break the back of runaway inflation and the wage-price spiral with little success. But judging by the surge in bankruptcy filings, they are about to get their wish.
January’s optimism about the bond market seems like a long time ago.