The Federal Reserve on Thursday voted to require large banks to preserve capital by suspending share repurchases and cap dividend payments in the third quarter. In a 4-to-1 vote, the Fed will tie the distribution of dividends to a formula based on recent income. The formula sets third-quarter dividends atRead More →
© Reuters. Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the NYSE in New York By Medha Singh and Devik Jain (Reuters) – Wall Street’s main indexes were set open lowerRead More →
President Donald Trump has predicted that the US economy will recover by 2021, citing new jobs data released by the Labor Department which contains a “misclassification error.” Officials say the numbers are artificially low, and Federal Reserve Chairman Jerome Powell and several economists have voiced their concerns. Trump Thinks USRead More →
U.S. stock-market futures edged higher Sunday evening in thin trading, as Wall Street equities looked to add to a rally toward records for the Nasdaq Composite that concluded trade last week on the back of improving economic data in the face of a viral outbreak. How are benchmarks faring? FuturesRead More →
The Federal Reserve’s Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereum version of Libor, a software called “Ameribor” may not be forRead More →
A historic week for the stock market ended with a big, fat question mark: what will the government and the Federal Reserve do about the coronavirus outbreak that threatens to decimate the longest-running bull market on record? The infectious disease, Covid-19, which reportedly originated in Wuhan, China, late last year,Read More →
(Bloomberg) — Federal Reserve officials viewed their current monetary policy as appropriate “for a time” while they remained on guard against domestic and global risks that could slow the longest U.S. expansion on record. “Participants discussed how maintaining the current policy stance for a time could be helpful in supportingRead More →
The Federal Reserve continues to add more US government securities to its securities portfolio and these have been bought outright. In the last banking week ending February 12, the Fed’s holdings of US government securities rose by $14.7 billion. (These and all other data on the Fed’s balance sheet canRead More →
The U.S. central bank should keep its benchmark interest rate unchanged for the time being, as growth is in a good place and inflation should hit the central bank’s 2% annual target, two Federal Reserve officials said Monday. “My own view right now is that we should hold steady forRead More →
Ed Yardeni, president of Yardeni Research, has seen plenty over his long Wall Street career, but it appears as if the coronavirus outbreak, which he sees as the biggest risk to this bull market, has him a bit flummoxed. ‘The longer that this virus threat continues to weigh on theRead More →
The Federal Reserve could encourage banks to tap a key funding source that has been scarcely used since the financial crisis as a solution to the September dislocations in short-term lending markets, said Fed Vice Chairman for Supervision Randal Quarles on Thursday. Quarles said financial institutions should not be afraidRead More →
Asian markets fell in early trading Thursday, after the U.S. Federal Reserve kept interest rates unchanged, and as investors weighed developments in the spreading coronavirus outbreak. Fed chief Jerome Powell said Wednesday that the U.S. economy is in good shape, in announcing that the central bank left unchanged a keyRead More →
The Federal Reserve seems on course to disappoint financial markets at some point this year, but maybe not this week. Starting early in 2019, the Fed has consistently moved in a market-friendly direction. The central bank cut rates its benchmark interest rate three time since July and started expanding itsRead More →
By Michelle Price WASHINGTON (Reuters) – The U.S. Federal Reserve on Friday signaled it would take a lighter touch when supervising banks, in another win for the industry which has long complained that the regulator’s closed-door supervisory process is opaque and capricious. In particular, foreign lenders Deutsche Bank (DE:), CreditRead More →
Finland was No. 1 out of 156 countries on the 2019 “World Happiness Report,” followed by Denmark, Norway, Iceland, the Netherlands and Switzerland. The U.S. trailed at No. 19. The top countries ranked highly on all the main factors found to support happiness: caring, freedom, generosity, honesty, health, income andRead More →
Getty Images People with shopping bags walk down the sidewalk during the Christmas holiday season last month. The outlook: Economic activity continued to expand “modestly” over the last six weeks of 2019, according to the Federal Reserve’s Beige Book, released Wednesday. Two districts: Richmond and Dallas, reported growth at above-averageRead More →
Bloomberg News/Landov Boston Fed President Eric Rosengren Despite the benign environment, the Federal Reserve is actually in uncharted territory and should be alert to potential risks to the outlook, said Boston Fed President Eric Rosengren on Monday. “Private forecasters and [Federal Open Market Committee] participants anticipate a good outcome forRead More →
Rural America needs help. That was the key message from Beth Ford, president and CEO of Land O’Lakes, Inc., while speaking Thursday at the Federal Reserve Bank of Minneapolis’ annual economic outlook conference for the Ninth District. “Farmers want trade. They want a robust marketplace and they want to complete,”Read More →
Bloomberg News/Landov Ben Bernanke, former chairman of the Federal Reserve, spoke to the American Economic Association annual meeting. SAN DIEGO — The Federal Reserve has all the tools it needs to fight the next recession, its former chairman Ben Bernanke said Saturday. A former economics professor at Princeton University, BernankeRead More →
“The capital markets for oil and gas remain extremely difficult.” The Dallas Fed’s Fourth Quarter Energy Survey, released today, portrays an industry that is turning increasingly somber. The data is based on responses of executives (names are not disclosed) of 170 energy companies – 111 exploration and production (E&P) companiesRead More →
Getty Images President Donald Trump and Vice President Mike Pence examine a wheel loader from Caterpillar Inc. on the South Lawn of the White House in 2017. President Donald Trump’s strategy to use import tariffs to protect and boost U.S. manufacturers backfired and led to job losses and higher prices,Read More →
© Reuters. By Geoffrey Smith Investing.com — European stocks found their feet again on Wednesday after the Federal Reserve signalled that it’s likely to remain on hold throughout next year, seemingly convinced that historically low jobless rates won’t create enough inflationary pressure to warrant a rate hike. By 5 AMRead More →
Gains in Japan and Hong Kong led an otherwise mixed early Asian stock session Thursday after the Federal Reserve signaled it will likely keep U.S. interest rates on hold throughout 2020 amid a solid economy. U.S. stocks gained slightly, the 10-year Treasury yield fell below 1.8% and the dollar DXY,Read More →
Reuters Federal Reserve Board Chairman Jerome Powell has said the economy is in a “good place.” The Federal Reserve on Wednesday offered a more upbeat view on the economy and signaled it could hold interest rates steady through next year. Officials voted unanimously to hold their benchmark rate unchanged inRead More →
The market will be focused on the updated Summary of Economic Projections and any clarity on the pace of balance sheet growth. This is the last Fed meeting of 2019. It will be the last voting meeting for Rosengren, Bullard, Evans, and George. The 2020 rotating regional voters will beRead More →
