Economic war is economic war, says Credit Suisse chief
... Russia and China, along with tighter labor markets due to immigration restrictions and a reduction in mobility caused by the coronaviruses, have resulted in supply disruptions, according to Pozsar. There is a risk that the Federal Reserve under Chair Jerome Powell has to raise interest rates to 5% or 6% and keep them there to create a substantial and sustained reduction of aggregate demand to match the tighter supply profile, he said. Pozsar s warning that inflation will remain elevated puts him at odds ...
Updated: 08/02/2022
S&P 500 earnings beat estimates, Fed seen on track for more rate hikes
... last week, with the S&P 500 and Dow Jones Industrial Average DJIA closing the last trading day of July with the biggest monthly gains since November 2020. After raising the benchmark interest rate by another 75 basis points last week, Fed Chair Jerome Powell suggested that another unusually large interest-rate hike would be needed in September but would depend on upcoming economic data, while he added that it will likely be appropriate to slow increases at some point. The preliminary reading of the ...
Updated: 08/01/2022
White House expects slower growth than last year
... for the Pandemic to happen, for the war in Ukraine to settle down, but that's not going to solve the inherent systemic flaws, citing high housing costs, student debt and speculative bubbles in sectors likeCryptocurrencies. Federal Reserve chairman Jerome Powell said this week that he did not think the US economy was in a recession, but he noted that a slowdown had begun and more was likely to be necessary for inflation to return to normal levels.
Updated: 08/01/2022
Fed's Kashkari says inflation target far off
... monetary policy this year. Fed officials increased interest rates by 75 basis points for the second straight month - the most aggressive back-to-back increase in more than a generation to tame inflation at a 40 year high. After the July 27 decision, chair Jerome Powell told reporters that officials could do the same again at their next meeting in September - depending on readings from the economy between now and then - while pushing back on suggestions that the US is already in a recession. The data showed US ...
Updated: 07/31/2022
FPIs net buyers for the first time in July
... for the first time in July after nine straight months of net outflows, which started in October last year. They sold a huge amount of Rs 2.46 lakh crore in the Indian equity markets between October 2021 and June 2022. The US Federal Reserve Chairman Jerome Powell said in July that the US was not in a recession and helped improve sentiments and risk appetite globally, according to Himanshu Srivastava , Associate Director-Manager Research, Morningstar India . The strong corporate numbers boosted the inflow,...
Updated: 07/31/2022
Fed Chair acknowledges inflation is too high, acknowledges
Powell Powell ended his news conference by acknowledging that inflation is too high. Powell ended him his news Conference by acknowledging That inflation is very high. Powell : We know inflation is too high. Federal Reserve Chair Jerome Powell ended his news conference by acknowledging that inflation is too high. Powell said we understand how painful it is. It is our institution's role of providing price stability to the American people and we're going to use our tools to do that. The ...
Updated: 07/30/2022
Investors should be wary of US stocks, says Bridgewater strategist
... to get everything it wants. The porridge is going to be too hot or too cold. The S&P 500 soared 4.3% for the week and 9.1% in July, following the worst six month start to a year since 1970. Stock gains have snowballed this week after Fed Chairman Jerome Powell suggested that rate hikes may slow later this year. The central bank has boosted its target rate by 2.25 percentage points so far in 2022, including 75 basis points this week. Bonds rallied, with 10 year Treasury rates ending the week at 2.65%,...
Updated: 07/30/2022
Bitcoin and ether, Bitcoin on track to record best month since October
... Digital Assets said that the entire year will be dominated by the Fed and what they are going to do. After the Fed Reserve raised its benchmark interest rate by 75 basis points, the stock and cryptocurrencies market rallied this week, and Fed Chair Jerome Powell said that while another rate hike of the same scale was possible in September, the decision would depend on economic data. Some traders thought the Fed might slow the pace of rate increases, while others believe that such expectations might be ...
Updated: 07/29/2022
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