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May 22, 2023 - 08:08:53 PDT
In his latest speech, New York Fed President John Williams discusses "R*" the neutral interest rate which is neither expansionary nor contractionary.
Either mid-June or possibly in July.
Central Banks to Keep Buying Gold as Dollar Sanctions Shift Long-Term Strategies on Currency ReserveMay 22, 2023 - 06:23:04 PDT
"We think this trend of central bank buying is likely to continue amid heightened geopolitical risks and elevated inflation."
How Damage From a US Debt Default Could Cascade Across the Global EconomyMay 22, 2023 - 06:20:39 PDT
If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America's economy would hardly sink alone. Orders for Chinese factories that sell electronics to the United States could dry up. Swiss investors who own U.S. Treasurys would suffer losses.
In 2021, a remote coal town in northeastern China was forced to undergo an unprecedented financial restructuring. Its struggles since are an ominous sign for President Xi Jinping as other heavily indebted municipalities look set to follow suit.
The recent spate of bank failures is upending a long-held theory among banking executives and regulators—that the value of a lender’s deposit business goes up when interest rates move higher. The deposits would be a stable source of low-cost funding while the bank earned more money lending at higher rates. The more rates rose, the bigger the franchise value of those...
The Fed has been criticized widely for fueling recession risk through its interest-rate hikes, after failing to act early on inflation. Here's a selection of comments from Elon Musk, Mohamed El-Erian and others.
For companies that need to borrow money these days, it pays to be big. The Federal Reserve’s rate-raising campaign has put a notable crimp in financing for companies with smaller payrolls and valuations. The average rate for a loan from the U.S. Small Business Administration, which historically costs less than a bank loan, has reached double-digits, driving many small firms to...
Federal Reserve Bank of Minneapolis President Neel Kashkari said bank capital requirements should be lifted significantly to help backstop financial institutions against distress.
Interest rates will soar. The stock and bond markets will crash. And the global financial system will be plunged into turmoil as investors flee to any safe asset they can find.
Biden faces pressure from his left flank, which is pushing for him to lift the debt ceiling unilaterally via the 14th Amendment.
Discover why politicians and pundits are missing a crucial piece of the puzzle when it comes to balancing the budget, paying down debt, and living within our means.
Chinese banks kept their benchmark lending rates unchanged Monday, although calls are growing for more central bank easing to spur the economy’s recovery.
The latest marker of underlying US price pressures will offer little hope of settling the debate among Federal Reserve officials about whether they’ve made enough progress on inflation to step off the monetary-policy brakes.
Investors are girding for spikes in currency volatility and losses in equities as the US struggles to clinch a debt-limit deal.
Talks nearly fell apart over the weekend with Biden calling the GOP's stance 'unacceptable'
As talks over raising the U.S. government's $31.4 trillion debt ceiling go down to the wire, Wall Street banks and asset managers have been preparing for the fallout from a potential default. The financial industry has prepared for such a crisis before, most recently in September 2021. Less than two weeks remain until June 1, when the Treasury Department has warned that the...
Why The End Of The Debt Ceiling Crisis Triggers The Next $1.2 Trillion Banking CrisisMay 22, 2023 - 05:35:48 PDT
Back in January, when previewing the coming rapid drain in the Treasury cash balance, we were the first to warn that contrary the consensus opinion at the time that markets would tumble at the start of the year, the resulting liquidity injection of roughly $300 billion...
Fed’s Kashkari Says a June Pause on Rates Wouldn’t Indicate an End to Hiking CycleMay 22, 2023 - 05:32:24 PDT
Kashkari told CNBC on Monday he's open to holding off on another rate hike, but cautioned against reading too much into a pause.
Global shares mostly drifted higher Monday as investors fretted over whether the United States government will be able to reach a deal to avoid a federal default. France's CAC 40 inched down less than 0.1% in early trading to 7,489.72, while Germany's DAX slipped 0.1% to 16,261.45. Britain's FTSE 100 gained 0.3% to 7,780.30. U.S. shares drifted higher with Dow futures up less...