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Following the first interest rate increase in several years, Federal Reserve Chair Jerome Powell provided some interesting predictions for the year ahead. Starting with his thoughts on the likelihood of a recession:
A day after Biden and his pals in Brussels discussed ways to stop Russia utilizing its gold reserves to maintain some stability in an increasingly chaotic economy, the Bank of Russia has just announced plans to begin buying gold from its banks at a fixed price.
President Biden alerted us that, as a result of sanctions on Russia, food shortages for Americans are "going to be real." So, for a fight on the other side of the world, that doesn't threaten American interests in the least bit, the American people are supposed to suffer from a lack of food? Does that sound like a good foreign policy to you?
Mar 25, 2022 - 08:15:26 PDT
With a raging debate over Quantitative Tightening (QT), let's tune into what one Fed governor has to say.
The beleaguered yen has scope to slump further with a drop of close to another fifth not out of the question, according to some strategists.
Treasury Secretary Yellen Sees No Need for China Sanctions As U.S. Tries To Deter Aid to RussiaMar 25, 2022 - 07:54:15 PDT
"I don't think that that's necessary or appropriate," the Treasury secretary told "Squawk Box" of potential penalties on Beijing. "Senior administration officials are talking privately and quietly with China to make sure that they understand our position."
UMich Sentiment Slumps Further In March, Inflation Expectations At 41-Year HighMar 25, 2022 - 07:52:19 PDT
The final data for March's University of Michigan sentiment survey was expected to confirm the preliminary data's collapse to 11-year lows, but in fact it worsened intra-month from 59.7 to 59.4 for the headline index. Both current conditions and expectations also fell modestly intramonth to multi-year lows...
After unexpectedly plunging in January, pending home sales were expected rebound very modestly in February (despite both new- and existing-home-sales tumbling as mortgage rates soar). The analysts were very wrong as pending home sales puked 4.1% MoM (after a downwardly revised drop of 5.8% MoM in January). That is the fourth straight monthly drop...
Sanctions could make it more difficult, but not impossible, for Russia to sell some precious metal to raise money while its invasion of Ukraine continues.
Here Are All The Latest News And Developments From The Ukraine War: March 25Mar 25, 2022 - 06:17:31 PDT
With newsflow out of Ukraine nothing less than a firehose (of often fake news), with market moving headlines firing every other minute on average, traders can be forgiven if they have just given up following the narrative. To help out, here is a snapshot of all the latest market-moving news out of Ukraine from the last few hours courtesy of Newsquawk:
The London Metal Exchange told members it will nearly double the size of its clearinghouse default fund as the exchange grapples with the fallout from an unprecedented short squeeze that roiled metals markets this month.
The European Central Bank would consider extending its money-printing programme beyond this summer if the euro zone economy fell into a "deep recession" because of the conflict in Ukraine, ECB board member Isabel Schnabel said on Thursday. The ECB said earlier this month its would end its bond-buying stimulus scheme this summer and raise interest rates for the first time in over...
Traders See 8.6% U.S. Inflation Ahead of Fed's May Meeting As Expectations May Be Turning EntrenchedMar 25, 2022 - 06:12:38 PDT
MW: Derivatives-like instruments known as fixings imply that the headline, year-over-year consumer-price index gain for March and April will be 8.6%, up from a 40-year high of 7.9% in February. Only the March reading will be available to Fed officials by the time of their May 3-4 meeting; April’s data isn’t set to be released until the following week.
Jerome Powell and the Federal Reserve have vowed to combat record inflation levels not seen in decades, even if it means pursuing more aggressive rate hikes as the year goes on. In any case, Heritage Capital Founder and President Paul Schatz is hopeful that surging prices will quell throughout the remainder of 2022.
U.S. Treasuries resumed a sell-off on Thursday, driving bond yields higher, after fresh data added to fears that high inflation will keep the Federal Reserve on track to combat rising prices with a series of interest rate hikes.
The dollar’s share of global reserve currencies has been in steady decline over the past 20 years as central banks turn to nontraditional currencies, including the renminbi, to diversify their holdings.
Nearly two-thirds of Americans disapprove of President Biden's handling of the economy, according to a new poll by The Associated Press-NORC Center for Public Affairs Research. And respondents were are more likely than not to say that they think Biden's policies have hurt the economy more than they have helped it.
Biden Sticks With Longstanding U.S. Policy on Use of Nuclear Weapons Amid Pressure From Allies: WSJMar 25, 2022 - 05:42:28 PDT
President Biden, stepping back from a campaign vow, has embraced a longstanding U.S. approach of using the threat of a potential nuclear response to deter conventional and other nonnuclear dangers in addition to nuclear ones, U.S. officials said Thursday.
The Biden Administration is pushing for increased electrification in the transportation sector, aiming to make 50 percent of all new vehicles sold in the United States in 2030 zero-emission vehicles. President Joe Biden vowed last year to replace the almost 650,000-strong federal vehicle fleet with electric cars as part of his climate agenda.
The green energy Biden strongly favors could lower prices someday—but voters want relief now, and there's not much Biden can do.