Precious metals are apparently waking up. And here is where you can find the best deals.
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Mar 22, 2023 - 12:46:10 PDT
Prices for the precious metal then moved up in electronic trading as the U.S. dollar, as well as Treasury yields, weakened in the wake of Federal Reserve's decision to raise its benchmark fed funds rate by a quarter of a one percentage point.
The former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader should get multiyear prison terms after they were convicted of spoofing the market for years, the US government said in a court filing.
For over twelve years at TF Metals Report, we have been writing about "The End of The Great Keynesian Experiment". Recent events have moved us closer to this monetary endpoint.
These choices do not increase the chances for a near-term crisis, but they do mean that the chances of a catastrophe scenario are up sharply, in the event of a crisis.
“How does a bank collapse in 48 hours?” Asks the CNN headline. Especially a bank that reported a profit of $3.4 billion just last year. Murray Rothbard answered the question years ago in What Has Government Done To Our Money?, “No other business can be plunged into bankruptcy overnight simply because its customers decide to repossess their own property.
Here is a follow-up on last week’s chart with some excellent granular detail. Interest payments on the national debt during the current fiscal year (October to February) are up 29 percent …
Speaking to a hearing of the U.S. Senate's Appropriations Subcommittee on Financial Services and General Government, Yellen also said that the failure of a small bank or community bank could trigger runs on larger banks.
Treasury Secretary Janet Yellen is likely to face tough questions from senators about the federal response to two bank failures earlier this month.
Please consider the Summary of Economic Projections from the FOMC Meeting March 21-22, 2013.
The U.S. banking system is sound and resilient. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and inflation. The extent of these effects is uncertain. The Committee remains highly attentive to inflation risks.
The Federal Reserve Board announced that the Federal Reserve Banks will develop a new round-the-clock real-time payment and settlement service, called the FedNowsm Service, to support faster payments in the United States.
Mar 22, 2023 - 12:14:53 PDT
As expected, The Federal Reserve raised their target rate (upper bound) to 5%, up 25 basis points. At the same time, Fed Reverse Repo useage soared to $2.28 trillion as banks hide from inflation. H…
Watch Live: Fed Chair Powell Attempts High-Wire Walk Between Price & Financial System StabilityMar 22, 2023 - 11:37:42 PDT
Having raised rates by 25bps (as expected) and offered a dovish bias to the statement with regard future rate-hikes, Fed Chair Powell now has the unenviable task of threading the needle between too-dovish (what does Powell know about just how bad the banking crisis really is...and what will that do to inflation) and too-hawkish (omfg, Powell's going to kill the banks to crush inflation).
A lot has changed since The Fed last met on February 1st and decided to hike 25bps. Between Powell's hawkish hearings with Congress and the dovish-inference of a global financial system crisis, the market's expectations for The Fed's actions today have swung wildly - but ironically, are basically unchanged since the Feb 1st meeting.
Fed Hikes Rates by a Quarter Percentage Point, Indicates Increases Are Near an End: CNBCMar 22, 2023 - 11:09:36 PDT
The Federal Reserve on Wednesday enacted a quarter percentage point interest rate increase, expressing caution about the recent banking crisis and indicating that hikes are nearing an end.
Mar 22, 2023 - 11:07:14 PDT
The Fed has a lot of 'splaining to do, yet seems determined to keep doing the wrong thing.
Thanks to its monetary mismanagement, the Fed now finds itself in a predicament of its own making.
The biggest mistake any analyst or investor can make right now is to believe that the banking crisis is over.
On both sides of the Atlantic, central bankers have been busy putting out banking sector fires. Now they must address investors’ other major concern — how much further interest rates might rise at a time of fragile market confidence.
The Fed will close its two-day meeting Wednesday with a heavy air of uncertainty.