Interest Rate Hike Shocked the Economy Contributing to Bank Failures Says Former Fdic Vice Chair
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Rate-cut expectations give way to questions about a Fed hike — and how much higher interest rates should go
Portfolio managers, economists, and Federal Reserve policy makers are all asking the same question: Are U.S. interest rates, now at a 23-year-high of 5.25% to 5.5%, high enough?MarketWatch - Business - Federal Reserve -
US interest rate setter says 'no hurry' to cut
A key member of the US central bank, Raphael Bostic, tells the BBC rates might only ease "at the end of 2024".BBC News - Top stories -
Here's what 12 European Central Bank members said about interest rates this week
The ECB has become "the central bank to be followed," one central bank governor said.CNBC - Business -
Fed’s Goolsbee says progress on inflation has stalled, makes sense to wait on interest rates
Chicago Fed president “hopeful” we will get improvement on inflation.MarketWatch - Business - Federal Reserve -
The radical repricing of US interest rates
Financial markets and the Fed are searching for a convincing economic storyFinancial Times - World -
Former Jan. 6 panel chair seeks to strip Secret Service protection from felons
The former chair of the now-disbanded Jan. 6 committee introduced a bill Friday that would strip Secret Service protection of any former executive convicted of a felony — an effort to avoid the complications of incarcerating former President Trump ...The Hill - Politics -
Inflation, Interest Rates and Oil Prices Have Jolted the Markets
Euphoria has been replaced by a much more somber mood, changing the value calculations in a host of markets, our columnist says.The New York Times - Business -
Why the Fed Should Declare Victory and Cut Interest Rates.
Small business owners are being punished by the central bank's data obsession. We need to focus less on CPI numbers and more on boosting the economy.Inc. - Business - Federal Reserve -
Iranian attack on Israel was a 'spectacular failure,' CIA director says
CIA Director William Burns says Iran’s attack on Israel “turned out to be a spectacular failure” and that the U.S. hopes tensions in the region will ease.NBC News - Politics - Iran -
This unusual combination signals either booms, bubbles or inflections, says Bank of America
There’s an unusual combination in markets this year that has happened just five times in the last 60 years.MarketWatch - Business -
Fed’s Goolsbee says ‘more sniffing’ may be needed before rate cuts
Federal Reserve Bank of Chicago president Austan Goolsbee on Friday said "more sniffing" is needed before the Fed can cut interest rates. Here's what to know.CNBC - Business -
Kremlin spy suspect arrests may be tip of iceberg, says former German agency chief
Gerhard Schindler says Russia has been ‘ramping up’ operations in west, as two men are accused of plotting sabotage at military sites. . A former head of Germany’s foreign intelligence service has warned that the discovery of two men suspected of ...The Guardian - World - Germany -
UK inflation could stay near 2% target for three years, says BoE rate-setter
Dave Ramsden’s comments suggest he does not need much more evidence of price growth falling before backing rate cutsFinancial Times - Business - United Kingdom -
Is the global economy stumbling into ‘the tepid Twenties’?
Growth is picking up in the short term, but fears are mounting of a stagnant decade, with bleak political consequencesFinancial Times - Business -
German vice chancellor spends morning in Kiev air raid shelter
Yahoo News - World - Germany -
‘My boss didn’t even know’: Tesla employees talk about being shocked at how they were laid off
“I got the email on my off day, and they sent it in the middle of the night — no warning,” one former Tesla employee said about the layoffs.MarketWatch - Business -
Procter & Gamble sales disappoint as price hikes slow down
The Tide owner's quarterly volume was flat for the second consecutive quarter.CNBC - Business -
The next bank bailout’s true costs may not be such a mystery
Future debates about whether to assist distressed corporations, including New York Community Bank, could be better informed by more educated guesses about costs.The Hill - Politics -
Subsidy race with US and China would harm Europe’s ailing economy, IMF warns
Fund urges EU to avoid ‘protectionist’ policies and focus on cutting internal trade barriersFinancial Times - Business - China -
South Korea slows plan to hike medical school admissions as doctors' strike drags on
South Korea's government says it will slow down a plan to admit more students to the country’s medical schools from next year, in a bid to end a weeks-long strike by thousands of doctorsABC News - Health - South Korea -
South Korea slows plan to hike medical school admissions as doctors' strike drags on
South Korea's government says it will slow down a plan to admit more students to the country’s medical schools from next year, in a bid to end a weeks-long strike by thousands of doctorsABC News - World - South Korea -
Nasdaq, S&P 500Drop After Israel Strikes Iran
Stocks were mixed, with the Nasdaq in retreat and the Dow edging higher. The Nasdaq and S&P 500 were on track for weekly losses, extending an April slump.The Wall Street Journal - World - Iran -
Building society and Co-op Bank agree takeover terms
The two lenders agree terms on a takeover deal that could be worth up to £780m.BBC News - Top stories -
Banks Believe They Are Well-Prepared for Commercial Real Estate Fallout
Banks have built up substantial reserves against office loans going bad.The Wall Street Journal - World -
U.S. sanctions 2 entities over fundraising for extremist West Bank settlers
The Treasury Department announced sanctions on two entities accused of fundraising for extremist West Bank settlers connected to violence against Palestinians.CBS News - Top stories -
US sanctions two groups over fundraising for Israeli extremists in West Bank
The Biden administration announced Friday that it is imposing sanctions on two groups accused of fundraising for Israeli extremists in the West Bank and the leader of an organization that has assaulted Palestinians. According to the Treasury ...The Hill - Politics - Israel -
Big banks have been a bright spot in tough week for markets
Major banks sailed through commercial real-estate updates in earnings and tapped the corporate bond market — with regional banks now on deck.MarketWatch - Business -
'The mirror doesn’t lie': How Corey Seager’s constant pursuit of perfection created MLB’s most beautiful swing
Seager's left-handed swing is a thing of beauty. But the constant feeling that it could desert him is what turned him into MLB's new Mr. Clutch.ESPN - Sports -
12 Jurors in Trump Hush Money Trial Will Decide a Former President’s Fate
Justice Juan M. Merchan warned against identifying the people who might judge Donald J. Trump, who regularly attacks the justice system.The New York Times - Top stories - Donald Trump -
Retired St. Louis officer, beaten by former colleagues, awarded $23M
A former St. Louis police officer has been awarded $23 million after he was beaten by other officers while working undercover in 2017. Luther Hall, the former officer, won Monday after the defendant — one of his former colleagues — failed to ...The Hill - Politics -
Former Defense secretary: Silence ‘deafening’ after Israel’s strike on Iran
Former Defense Secretary Mark Esper called Iran’s silence “deafening" after Israel struck near a major air base and nuclear site in the city of Isfahan early Friday. “This morning, the silence — from both sides, frankly — is deafening,” Esper, who ...The Hill - Politics - Iran -
Mortgage rates are now at the highest level of the year and could still climb
The average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going.NBC News - Top stories - Mortgage -
S&P Cuts Israel's Credit Ratings on Geopolitical Concerns
S&P Global Ratings lowered its long-term foreign and local currency sovereign credit ratings on Israel to A-plus from AA-minus, citing geopolitical risks.The Wall Street Journal - World - Israel -
Liverpool ratings: Salah gets 6/10 in elimination to Atalanta
Mohamed Salah was able to get his goal but Liverpool wasn't able to do enough as they were eliminated from the Europa League at the hands of Atalanta.ESPN - Sports -
S&P Cuts Israel Rating on Heightened Geopolitical Risk
Yahoo News - World - Israel -
U.S. Mortgage Rates Jump Above 7% for the First Time This Year
Rates on 30-year mortgages — the most common kind among U.S. homeowners — surpassed the 7 percent mark on Thursday, a troublesome sign for an already tight housing market.The New York Times - Business - Mortgage -
Children of reality TV's Chrisleys hope court hearing is step toward bringing convicted parents home
Reality TV stars Todd and Julie Chrisley have appealed aspects of their convictions on federal charges of bank fraud and tax evasionABC News - Entertainment -
Kenya’s ‘blood desert’: can walking donor banks and drones help more patients survive?
The national blood deficit is most pressing in places like Turkana, where malaria, anaemia and violence make heavy demands on transfusion services – and doctors are pinning their hopes on innovation. In his small cubicle in Lodwar County referral ...The Guardian - World -
A Century-Old Lending Lifeline for Troubled Banks Has a Major Flaw. The Fed Wants to Fix It.
Borrowing from the discount window carries a stigma officials hope to reduce.The Wall Street Journal - World -
Former Marine sentenced to 9 years in prison for firebombing California Planned Parenthood clinic
A former U.S. Marine has been sentenced to nine years in prison for firebombing a Southern California Planned Parenthood clinic in 2022ABC News - Health - California