Fog shrouds the Canary Wharf business district including global financial institutions Citigroup Inc., State Street Corp., Barclays Plc, HSBC Holdings Plc and the commercial office block No. 1 Canada ...
Tag: Central banking
Rates raised by three-quarters of a percentage point
The Federal Reserve on Wednesday raised benchmark interest rates by another three-quarters of a percentage point and indicated it will keep hiking well above the current level. In its quest to bring d...
Here’s everything the Federal Reserve is expected to do today
Construction workers outside the Marriner S. Eccles Federal Reserve Building, photographed on Wednesday, July 27, 2022 in Washington, DC. Kent Nishimura | Los Angeles Times | Getty Images There’...
Layoffs loom on the horizon, some economists say
From rising inflation to a red-hot job market and the negative gross domestic product in between, economists are divided on the health of the U.S. economy. “There has been a lot of talk recently...
Sweden’s central bank launches 100 basis point rate hike
Sweden’s Riksbank launched a 100 basis point hike to interest rates on Tuesday as it looks to rein in inflation. Mikael Sjoberg/Bloomberg via Getty Images Sweden’s Riksbank on Tuesday laun...
Watch Fed Chair Jerome Powell speak live in Q&A at the Cato Institute
[The stream is slated to start at 9:10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Thursday morning in a question-and...
Watch Christine Lagarde speak after the ECB announces rate hike
[The stream is slated to start at 08:30 ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Christine Lagarde is giving a press conference after...
Market bracing for another three-quarter point hike from the Fed this month
Federal Reserve Board Chairman Jerome Powell speaks during a news conference in Washington, DC, on July 27, 2022. Mandel Ngan | AFP | Getty Images Traders are now seeing a near-certainty that the Fede...
Why China’s central bank is shoring up the yuan
The Chinese yuan has tumbled to two-year lows against the U.S. dollar in the last few weeks. Sopa Images | Lightrocket | Getty Images BEIJING — China’s central bank has sent a strong signal it w...
The Other Doomsday Scenario Looming Over Markets
By James Mackintosh Sept. 3, 2022 10:00 am ET Listen to article (2 minutes) Think inflation is the biggest threat to your investments? Perhaps not: One fund manager that successfully navigated the pas...
Historian Niall Ferguson has a warning for investors
Top historian Niall Ferguson warned Friday that the world is sleepwalking into an era of political and economic upheaval akin to the 1970s — only worse. Speaking to CNBC at the Ambrosetti Forum in Ita...
The Fed must do two things to re-establish credibility, Allianz’s El-Erian says
Although it has now established more consistent messaging to the market, the U.S. Federal Reserve needs to do two more things to re-establish its credibility, according to Mohamed El-Erian, chief econ...
We’re going to have one whopper of a recession in 2023
The U.S. economy is going to fall into a recession next year, according to Steve Hanke, a professor of applied economics at Johns Hopkins University, and that’s not necessarily because of higher...
Fed rate hikes won’t curb inflation if spending stays high, paper says
John C. Williams, president and chief executive officer of the Federal Reserve Bank of New York, Lael Brainard, vice chair of the Board of Governors of the Federal Reserve, and Jerome Powell, chair of...
Citi projects UK inflation to breach 18% in January as energy prices skyrocket
Citigroup said it had identified the cause of the flash crash and corrected the error “within minutes.” Jim Dyson | Getty Images News | Getty Images LONDON — U.K. inflation is on course to...
Fed minutes July 2022:
Federal Reserve officials at their July meeting indicated they likely would not consider pulling back on interest rate hikes until inflation came down substantially, according to minutes from the sess...
Fed expected to stick with hawkish interest rate hikes, strategists say
The Federal Reserve is unlikely to pivot from its hawkish interest rate hikes despite positive signs this week that inflation in the U.S. could be easing, according to market strategists. On Thursday,...
UK faces big inflation shock, defends historic hike
LONDON — The Bank of England on Thursday defended its decision to hike interest rates at the fastest clip in 27 years, saying the U.K. faces a “very big” shock to inflation. BOE Governor A...
Watch Christine Lagarde speak after the ECB surprises markets with larger rate hike
[The stream is slated to start at 08:45 ET. Please refresh the page if you do not see a player above at that time.] European Central Bank President Christine Lagarde is giving a press conference after...
Fed’s Bullard Raises Target for Year-End Funds Rate
Federal Reserve Bank of St. Louis President James Bullard said Friday that unexpectedly high inflation calls for a more aggressive path of short-term interest rate rises this year. Inflation “has come...
US recession looks likely, there are 3 ways the economy could get hit
Rising gas prices are piling pressure on the U.S. economy. Bloomberg | Getty Images The odds of the U.S. economy falling into recession by next year are greater than 50%, Richard Kelly, head of global...
Fed’s James Bullard Says 0.75-Point July Rate Rise Is Likely
Federal Reserve Bank of St. Louis President James Bullard said he is ready to follow the U.S. central bank’s supersize June rate rise with the same thing at the end of this month. “Our goal has been t...
‘More restrictive’ policy likely if inflation fails to come down
Federal Reserve officials in June emphasized the need to fight inflation even if it meant slowing an economy that already appears on the brink of a recession, according to meeting minutes released Wed...
Global economic outlook has ‘deteriorated materially’
Andrew Bailey, governor of the Bank of England, has said the global economic outlook has deteriorated materially after surging commodity prices pushed up inflation around the world. Bloomberg | Bloomb...
Watch Fed Chair Powell talk live about the economy, interest rates at ECB forum
[The stream is slated to start at 9 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell speaks Wednesday to a European Central Bank ...
New York Fed President John Williams says a U.S. recession is not his base case
New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation. R...
Inflation the biggest poison for the world economy
Christian Sewing, Chief Executive Officer of Deutsche Bank, attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2020. Denis Balibouse | Reuters E...
Opinion: Jerome Powell is the worst Federal Reserve policy maker in my lifetime
In the history of the Federal Reserve, the most revered chairmen are William McChesney Martin, Paul Volcker and Alan Greenspan. All gained their reputation by decisive monetary policy action at times ...