Economists Think Fed Will Keep Raising Rates Despite Bank Turmoil
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Three Fed interest-rate cuts this year? Yes, top banking economists say.
Top economists at big U.S. banks predict the Federal Reserve will cut interest rates three times this year — with the first reduction in June — even though inflation is unlikely to slow much further in 2024.MarketWatch - Business - Federal Reserve -
Fed Rate Outlook Looks Just Right for Banks
Banks look forward to relief on deposit costs but have no desire to go back to zero rates.The Wall Street Journal - World - Federal Reserve -
Don't sweat the prospect of no Fed rate cuts, economist says — markets will still march higher
Markets will continue to rally even if the Fed chooses not to cut interest rates this year, according to Steven Blitz, TS Lombard's chief U.S. economist.CNBC - Business - Federal Reserve -
China’s property turmoil hits midsized bank Everbright
Regional lender’s shares fall after profits miss estimates due to investment losses and increase in cash set aside for bad debtsFinancial Times - World - China -
The Fed Stays the Course on Rates
Markets are cheering the central bank’s forecast for three interest rate cuts this year. But Fed policymakers are divided on the issue.The New York Times - Business - Federal Reserve -
Fed’s Goolsbee expects three rate cuts this year
Chicago Fed President Austan Goolsbee said Monday he now expects three quarter-point interest rate cuts this year.MarketWatch - Business -
Bank of England Holds Interest Rates After U.K. Inflation Slows
Britain’s central bank held its key interest rate at the highest level in 16 years for the fifth straight meeting.The New York Times - Business - United Kingdom -
Janet Yellen warns China against clean energy dumping
US Treasury secretary tells Beijing its trade practices will distort markets and harm workersFinancial Times - Business - China -
Top Fed official says ‘no rush’ on rates after ‘disappointing’ data
Progress on taming price rises ‘has slowed and may have stalled’, according to Christopher WallerFinancial Times - Business - Federal Reserve -
$75,000 for a baby? South Korean businesses float incentives as demographic crisis looms
Companies and politicians try new strategies to encourage workers to start familiesFinancial Times - Business -
This is your wallet on Fed rate hikes: 2 years, 4 charts
In four charts, here’s how much money the campaign to rein in inflation may have cost you since it began in March 2022.MarketWatch - Business - Federal Reserve -
Why a Fed rate cut in June is not yet a done deal
An interest-rate cut at the Federal Reserve’s June meeting, though now widely expected, should not be viewed as decision that has already been made, Fed watchers say.MarketWatch - Business - Federal Reserve -
Cook says Fed has to move carefully before cutting interest rates
Federal Reserve Gov. Lisa Cook on Monday said the central bank needs to take a “careful approach” in deciding when to cut interest rates, but she gave few clues on the timing or size of any reductions.MarketWatch - Business - Federal Reserve -
Comex Gold Settles 0.62% Higher at $2190.60, Record High
Gold prices climbed to a new record high.The Wall Street Journal - World -
Fed’s Waller says there’s ‘no rush’ to cut U.S. interest rates
Federal Reserve Gov. Chris Waller said high inflation readings and strong job gains in early 2024 reinforce his view that “there is no rush” to cut U.S. interest rates.MarketWatch - Business -
Bank of England policymaker says markets pricing in too many rate cuts; Co-op Bank to cut 400 jobs – business live
Catherine Mann says market pricing is helping the central bank do its work in bringing borrowing rates down. The pound has risen since her comments, up 0.2% to $1.2661.. Bank of England policymaker Catherine Mann said financial markets are pricing ...The Guardian - World -
Nigeria's central bank hikes interest rate to 24.75% as it battles sky-high inflation, currency crisis
The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa's largest economy looks to recover from a historic currency crisis and soaring inflation.CNBC - Business -
AI risk management startup ValidMind raises $8.1M to help banks comply with regulations
ValidMind, a regulatory compliance platform for AI risk management at banks, raises $8.1 million in seed funding to automate model validation and documentation.VentureBeat - Tech - Artificial Intelligence -
The WSJ Dollar Index Rises 0.1% to 98.95
The WSJ Dollar Index was up 0.1% to 98.95 — up nine of the past 12 trading days.The Wall Street Journal - World -
Stocks surge after Fed indicates three rate cuts still coming this year
The S&P topped 5,200 for the first time Wednesday after the Federal Reserve said it was still targeting three rate cuts in 2024. Markets had feared hotter-than-expected inflation and jobs data would persuade the Fed to trim its timeline.CNN - Top stories - Federal Reserve -
Commercial real estate is itching for a rebound two years after start of Fed rate hikes
Demand for office leases is picking up, but interest rates are still a wild card.MarketWatch - Business - Federal Reserve -
Inflation risks appear to be tilting higher, threatening to throw Fed’s rate-cut hopes into disarray
The possibility that U.S. inflation won’t trend much lower is raising concerns that Federal Reserve policymakers are mistakenly clinging to prospects for three interest-rate cuts this year and may lose their credibility, which could trigger ...MarketWatch - Business -
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.
A U.K. court upheld the conviction of Tom Hayes, the alleged ringleader of a conspiracy among big banks and brokers to rig interest rates during the global financial crisis.The Wall Street Journal - World -
Parents across Haiti scramble to keep their children safe and in school despite the violence
Parents in Haiti are scrambling to ensure that their children not only stay out of direct harm, but also continue their education amid the ongoing strife caused by violent groups.NBC News - Top stories -
Why Treasury Yields Are Rising Despite Rate-Cut Expectations
The yield on the government’s 10-year note has climbed since the start of the year, propping up mortgage rates.The Wall Street Journal - World -
Putin says radical Islamists carried out Moscow concert hall attack but doubles down on blaming Ukraine – live
Russian president says Moscow wants to know ‘who benefits’ from Islamic State attack that killed more than 130 people. Dmitry Medvedev, Russia’s former president and prime minister, discussed the suspects charged over the terrorist attack on the ...The Guardian - World - Ukraine -
March Madness: TV ratings slightly up over last year despite Sunday's blowouts
The first three days of the NCAA Tournament attracted record ratings, only to see the momentum stifled due to Sunday’s games being blowoutsABC News - Entertainment -
Newest ECB board member says it can cut rates ‘swiftly’ despite rising wages
Piero Cipollone’s comments indicate he may argue for loosening monetary policy at bank’s April meetingFinancial Times - World -
The Office Market Is in Turmoil. So Why Are Rents More Expensive?
U.S. office rents are holding steady—or even climbing—despite soaring vacancy rates, a record amount of available sublease space, and rising defaults.The Wall Street Journal - World -
Mick Mulvaney defends Ronna McDaniel amid NBC turmoil
Former White House chief of staff Mick Mulvaney is dismissing criticism NBC News is facing from some of the network's biggest stars over its decision to hire former Republican National Committee Chair Ronna McDaniel as a paid contributor. "This ...The Hill - Politics -
Redefining Your Banking Relationship
Banking is a partnership, not a transaction. And it can help Black women overcome systemic financial hurdles.Inc. - Business -
A turning point in central banking
Last week’s monetary policy moves mark a shift away from strict inflation targetingFinancial Times - World -
Israeli court halts subsidies for ultra-Orthodox, deepening turmoil over mandatory military service
Israel’s Supreme Court has ordered an end to government subsidies for many ultra-Orthodox men who don't serve in the armyABC News - World - Israel -
Barclays bank payments restored after outage
The bank has apologised as some customers experienced issues with payments into and out of accounts.BBC News - Top stories -
Economist Claudia Sahm created one of the most accurate recession predictors. Here’s why she’s getting worried.
Sahm has been calling on the Fed to cut interest rates since December.MarketWatch - Business -
Ending 6% commissions could create a ‘Venus flytrap situation’ for home buyers, economist says
A proposed settlement announced by the National Association of Realtors could quickly saddle home buyers with additional costs, one professor said.MarketWatch - Business -
These housing markets are cooling as nearly a third of home listings cut their asking prices. Home sellers ‘misjudged the market,’ economist says.
Nearly a third of home sellers are slashing prices in Sun Belt cities as spring home-buying season heats up, Zillow says.MarketWatch - Business -
'The Ancient Art of Thinking for Yourself' Review: Dialogues for Democracy
Political discourse in America has been warped by ideology and rhetorical exploitation. Ancient Athens may have useful lessons for us.The Wall Street Journal - World -
There is a perfect time to shower – and it’s not when you think
In the data-driven, optimisation-obsessed corner of the internet, everything has its optimal moment, and washing is no exception. One of my favourite things to do in my middle age is lie on the sofa eating crisps while Googling low-effort ways to ...The Guardian - World -
Keeping Migrants on the Job
The White House can let more asylum seekers keep work permits.The Wall Street Journal - World