Sunday, December 22

Tag: Federal Reserve

RBI may hold fire even if Fed hikes rates twice: CEA V Anantha Nageswaran
2Nov By adminNo Comments
Business

RBI may hold fire even if Fed hikes rates twice: CEA V Anantha Nageswaran

The Reserve Bank of India (RBI) will not be under pressure to tighten its monetary policy even if the US Federal Reserve (Fed) increases interest rates further, Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday said. The Fed on Wednesday held interest rates with Fed Chair Jerome Powell saying the US central bank could raise them again if progress on cooling inflation stalled. “If the Fed were to hike 25 basis points, or even two times, that will not put pressure on the RBI to follow suit,” Nageswaran told Bloomberg Television on the sidelines of the Barclays Asia Forum in Singapore. The CEA held the RBI’s rate cycle had not been so tightly linked to that of the Fed because India’s external balances and financial stability were much better than they ...
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Another Black Monday May Be Around the Corner
23Oct By adminNo Comments
Health

Another Black Monday May Be Around the Corner

By John Greenwood and Steve H. HankeThe Federal Reserve’s policies are threatening U.S. financial markets and the economy. They are in danger of a steep recession and the risk of a repeat of 1987’s Black Monday.Early in the pandemic, the volume of U.S. dollars in circulation soared. For two years starting in March 2020, the M2 money supply—a measure of the cash and checkable deposits in circulation plus savings deposits and other easily convertible assets—grew at an unprecedented annual rate of 16.5%. That is more than three times the appropriate rate for hitting the Fed’s 2% inflation target. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Home Sellers Take On the Realtors Cartel
23Oct By adminNo Comments
Business

Home Sellers Take On the Realtors Cartel

The 1.5 million-member National Association of Realtors spent $81.7 million on political lobbying in 2022, more than any other business group. Behind the teachers unions, it ranks as the most powerful special interest in the country. Though it claims to help consumers, it is a cartel that seeks primarily to enrich its members by expanding government control over middle-class Americans’ largest source of wealth: their homes.Consider Burnett v. NAR, a federal class-action suit that Missouri home sellers have brought against the association. The case, which went to trial last week, presents an existential threat to the cartel. If the plaintiffs prevail, home buyers and sellers could save $120 billion in fees each year. Half of the country’s real-estate agents who work as buyer brokers might ...
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Some Americans saw big gains in wealth during the pandemic. Here’s why.
21Oct By adminNo Comments
Money

Some Americans saw big gains in wealth during the pandemic. Here’s why.

How to plan for both short- and long-term gains How to plan for both short- and long-term gains 03:17 Many Americans saw major gains in their wealth during the pandemic, boosted by rising home and investment values as well as federal stimulus payments, according to a new report from the Federal Reserve. The net worth of the median U.S. household — the midpoint between the richest and poorest households — surged 37% to $192,900 between 2019 and 2022, according to the Survey of Consumer ...
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Jerome Powell Is Still Puzzling Over the Strength of the U.S. Economy
20Oct By adminNo Comments
Entertainment

Jerome Powell Is Still Puzzling Over the Strength of the U.S. Economy

We are now more than three and a half years out from the start of the COVID-19 pandemic, which upended the global economy, and economists and policymakers are still surprised by the strength of the economic rebound in the United States. Most recently, both hiring and retail spending have picked up. A couple of weeks ago, the Labor Department announced that employers created three hundred and thirty-six thousand jobs last month. Earlier this week, the Census Bureau said retail sales rose by 0.7 per cent in September, on a seasonally adjusted basis, more than twice as fast as economists were expecting.More hiring and consumer spending translate into more output. According to the Atlanta Federal Reserve’s GDPNow estimate, G.D.P. expanded at an annual rate of 5.6 per cent in the third quarter...
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Middle East: Gold rises 1% as Middle East conflict spurs safe-haven demand
9Oct By adminNo Comments
Business

Middle East: Gold rises 1% as Middle East conflict spurs safe-haven demand

Gold prices rose more than 1% on Monday as the military conflict between Israeli forces and Palestinian Islamist group Hamas raised political uncertainty in the Middle East, prompting safe-haven buying of investments like bullion. Israel pounded the Palestinian enclave of Gaza on Sunday, killing hundreds of people in retaliation for one of the bloodiest attacks in its history when gunmen from Hamas rampaged through Israeli towns on Saturday. Gold is used as a safe investment during times of political and financial uncertainty. Spot gold jumped 1% to $1,850.70 per ounce by 0921 GMT, having hit its highest level in a week. US gold futures climbed 1.1% to $1,865.10. With investors looking for safe haven assets, gold has benefited at least in the short-term from the spike in geopolitical tens...
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Monetary Policy: Federal Reserve Governor Bowman says it will likely be appropriate to raise rates again
8Oct By adminNo Comments
Business

Monetary Policy: Federal Reserve Governor Bowman says it will likely be appropriate to raise rates again

Federal Reserve Governor Michelle Bowman on Saturday repeated her view that inflation continues to be too high despite "considerable" progress in lowering it, and the US central bank will likely need to tighten monetary policy further. "I expect it will likely be appropriate for the (Fed) to raise rates further and hold them at a restrictive level for some time to return inflation to our 2 percent goal in a timely way," Bowman said in prepared remarks to the Connecticut Bankers Association. "I remain willing to support raising the federal funds rate at a future meeting if the incoming data indicates that progress on inflation has stalled or is too slow to bring inflation to 2 percent in a timely way," she said. The comments were largely identical to those Bowman made on Monday about the e...
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