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Fed’s Mester says forecast of 3 rate cuts this year is now probably too many
“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”MarketWatch - Business -
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.The Wall Street Journal - World -
The Fed's Miracle Is Finally Back on the Table
Inflation is lower after months of hot readings, and investors love it.Inc. - Business -
Why the post-Fed stock-market rally is raising fresh inflation questions
The issue is whether Fed Chair Jerome Powell’s post-meeting remarks on May 1 — in which he said the central bank’s next move is “unlikely” to be a rate hike — are now easing financial conditions by so much that this ends up stalling progress on ...MarketWatch - Business -
Fed’s Powell tests positive for COVID-19 for second time
Federal Reserve Chairman Jerome Powell contracted COVID-19 for the second time and is working from home while he recovers, the Fed said Friday.MarketWatch - Business -
New York crypto personality used 'Seinfeld' joke in fraud, feds reveal
A New York man pleaded guilty to swindling people out of more that $1 million in a scheme that referenced the "Seinfeld" character George Costanza.CNBC - Business - New York -
Nasdaq, S&P 500 Advance to Start Week
Stocks rose, with technology shares leading the way higher as the S&P 500 and Nasdaq Composite sought fresh record highs.The Wall Street Journal - World -
Gold Futures Set New Record on China Debt, Rate-Cut Hopes and Geopolitical Fears
Gold futures reached a new record settlement as Chinese investors flock to safe havens, rate-cut hopes grow and geopolitical tensions mount.The Wall Street Journal - World - China -
Fed’s Bostic expects inflation to keep coming down — but slowly
The U.S. economy is slowing down, albeit at a glacial pace, and this should help inflation continue to gradually cool, Atlanta Federal Reserve Bank President Raphael Bostic said Monday.MarketWatch - Business -
Surging shipping costs could complicate Fed’s inflation fight
While supply shortages have eased greatly in the past few years, they have not entirely gone away.MarketWatch - Business - Inflation -
Fed likely to keep a $6.8 trillion balance sheet by December, says Barclays
Another lasting facet of the pandemic looks to be a very large Federal Reserve balance sheet.MarketWatch - Business - Federal Reserve -
GOP lawmaker on Feds, UFOs: 'Give us the information. Let us decide'
Rep. Tim Burchett (R-Tenn.) is calling on federal government leaders to declassify all documents related to unidentified aerial phenomena (UAP), arguing federal agencies must be transparent if they are going to be funding millions of dollars. ...The Hill - Politics -
The Properties High Interest Rates Can't Touch
Competition to buy the world’s most exclusive stores is intense despite modest rent growth.The Wall Street Journal - World -
China Benchmark Lending Rates Held Steady
The country’s benchmark lending rates were held steady this month, central bank data showed Monday after Beijing announced bold moves to address property-sector malaise.The Wall Street Journal - World - China -
How should countries deal with falling birth rates?
As the UK and US continue to see falling birth rates, options to deal with the issue are limited.BBC News - Top stories -
Gold Steady as Rate-Cut Hopes Wane
Gold was steady. After hitting new highs, gold “immediately withdrew back” as Fed speakers overnight warned that rate cuts are still some way down the road, DailyFX said.The Wall Street Journal - World -
RBA Elected Not to Fine Tune Rates at Policy Meeting
The Reserve Bank of Australia has warned that risks around the inflation outlook have risen, while uncertainty around the economy’s trajectory more broadly remains highly elevated.The Wall Street Journal - World -
Auto incentives are back — but high interest rates weaken deals for buyers
Incentives are coming back to the auto market, but interest rates remain high, corroding the benefits for buyers. Here are three things shoppers can do.CNBC - Business -
Britt: High maternal mortality rate 'American issue,' not Democrat or Republican
Sen. Katie Britt (R-Ala.) encouraged elected officials to work across the aisle in tackling the United States's high maternal mortality rate during a panel discussion Thursday on maternal mental health. “I think it is so important that we ...The Hill - Politics -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
How to immunize your bond ETF if interest rates turn higher
Tips to hedge a portfolio against interest rate fluctuations.MarketWatch - Business -
Dollar rally falters as falling inflation raises hopes of rate cuts
US currency on track for first negative month of the year after end to months of above-forecast CPI dataFinancial Times - Business -
Chelsea’s 2023-24: player ratings for Women’s Super League title winners
From Hannah Hampton to Maika Hamano we look at the players who won Chelsea their fifth consecutive league title . Hannah Hampton Brought in from Aston Villa in the summer, it looked as if she would have to settle for little game time with two more ...The Guardian - World - NFL -
Japan Government Bond Yields Climb on Expectations BOJ Could Reduce Bond Purchases
Japanese government bond yields rose on expectations the Bank of Japan could lower its bond buying in the coming months to support the weakening yen, Deutsche Bank Research said.The Wall Street Journal - World -
BoE could be close to cutting rates as inflation eases says deputy governor
Ben Broadbent believes direct effects of pandemic and war in Ukraine have now ‘faded’Financial Times - Business -
Summer interest rate cut possible, says Bank deputy
Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.BBC News - Top stories -
Ship Freight Rates Soar as Red Sea Diversions Become a Norm
Cargo owners and shipping lines expect disruptions for the rest of the year, adding time and costs to ocean routes.The Wall Street Journal - World -
Will mortgage rates fall in 2024? Here's what Freddie Mac predicts.
Demand for buying a home will remain strong in 2024 even though mortgage rates have been around 7% this year.CBS News - Top stories - Mortgage -
USD/JPY's Medium-Term Uptrend Appears Intact, Charts Show
USD/JPY’s medium-term uptrend since the Dec. 28, 2023 low of 140.25 appears intact as its price movements have continued to oscillate within an ascending channel, based on technical charts, Oanda said.The Wall Street Journal - World -
Fed’s Mester says her businesses contacts are sensing the economy is stronger than anticipated
Business contacts in the Midwest are starting to become much more upbeat about where the economy is going, Cleveland Federal Reserve Bank President Loretta Mester said on Thursday.MarketWatch - Business -
Fed’s Barkin says consumers are driving inflation. Here’s what they’re willing to pay more for.
The service sector “has changed their view” and believes consumers will accept higher prices and are going to raise them until households balk.MarketWatch - Business -
Fed’s $7.3 trillion balance sheet is worrying the world’s largest asset manager. Here’s why.
Any moves to shorten the Federal Reserve’s asset holdings could potentially trigger a backlash in markets.MarketWatch - Business -
Treasury yields climb for third straight day after flurry of Fedspeak
Treasury yields ticked higher on Monday, rising for a third straight day as several senior Federal Reserve officials warned that the central bank likely faces a slower path toward reaching its inflation target.MarketWatch - Business -
Efforts by JPMorgan's Jamie Dimon and other big-bank chief executives to resist Fed proposals that the lenders hold more capital appear to be paying off.
Efforts by JPMorgan’s Jamie Dimon and other big-bank chief executives to resist Fed proposals that the lenders hold more capital appear to be paying off.The Wall Street Journal - World -
Mortgage rates fall to the lowest level in a month, but ‘home buyers are still feeling the pressure’ from high home prices
The 30-year mortgage rate is averaging at 7.02% Freddie Mac said in its latest weekly survey on Thursday.MarketWatch - Business -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business