Berkshire Hathaway Vice Chairman Charlie Munger, Warren Buffett’s right-hand man, has commented on the collapse of crypto exchange FTX, stating that “it is partly fraud and party delusion.” Noting tha...
Tag: Fed
U.S. Banks Launch Digital Dollar Pilot along with N.Y. Fed
U.S. banking giants are gearing up to start a 12-week digital dollar blockchain pilot in partnership with the Federal Reserve Bank of New York. A group of banking institutions, including Citigroup Inc...
Jim Cramer says the Fed should consider retail earnings over economic data for its inflation strategy
CNBC’s Jim Cramer on Wednesday said the Federal Reserve must pay attention to recent retail earnings reports to plan the rest of its battle against inflation. “I am begging the Fed to look...
Markets See A Smaller Fed Hike Coming In December
The Federal Reserve will set interest rates on December 14, here’s what to expect. Photographer: … [+] Michael Nagle/Bloomberg © 2022 Bloomberg Finance LP The Fed’s December meeting should...
US CBDC Proof of Concept Sees Big Banks Team Up With Fed
There has been some movement in the lethargic halls of America’s central bank regarding a CBDC. A number of banking giants have come together with the Federal Reserve to work on the project. Several p...
Cathie Wood just warned of another ‘Great Depression’ if the Fed keeps ignoring these signals — here are 3 safe haven sectors for proven protection
‘The set-up will be more like 1929’: Cathie Wood just warned of another ‘Great Depression’ if the Fed keeps ignoring these signals — here are 3 safe haven sectors for proven protection The U.S. Federa...
NY Fed launches 12-week CBDC pilot program with major banks
The Federal Reserve Bank of New York’s Innovation Center, or NYIC, announced that it would be launching a 12-week proof-of-concept pilot for a central bank digital currency, or CBDC. In a Nov. 15 anno...
New York Fed and leading banks start regulated liability network pilot
Leading global banks kicked off a 12-week pilot together with the New York Federal Reserve. The project was first reported by The Block. The so-called regulated liability network will se...
Further Data Suggests Easing U.S. Inflation, Increasing Chance Fed Softens Hikes
The November PPI report offers further evidence that price pressure in the U.S. may be easing … [+] (Photo by Joe Raedle/Getty Images) Getty Images The Producer Price Index (PPI) for October 202...
There’s enough pain in the market for Fed to slow rate hikes
CNBC’s Jim Cramer on Monday said that there’s enough pain in the market for the Federal Reserve to consider easing its pace of interest rate hikes. “There’s enough turmoil that...
Household debt soars at fastest pace in 15 years as credit card use surges, Fed report says
Luis Alvarez | Digitalvision | Getty Images Households increased debt during the third quarter at the fastest pace in 15 years due to hefty increases in credit card usage and mortgage balances, the Fe...
Fed Governor Pours Cold Water On Stock Market Rally; Nvidia, AMD Take Center Stage
Major stock market indexes traded mixed in the first half of Monday’s session. A Fed governor told traders and investors on Sunday to curb their enthusiasm after last week’s spectacular pr...
The Fed risks plunging U.S. economy back into a 1930s-style Great Depression, warns Cathie Wood
The United States is teetering on the edge of another Great Depression, ARK Invest’s Cathie Wood warns, and the Federal Reserve will take the blame if it does. It is not the absolute increase in Fed r...
Fed Vice Chair Brainard says it may ‘soon’ be appropriate to move to slower pace of rate hikes
Lael Brainard, vice chair of the US Federal Reserve, listens to a question during an interview in Washington, DC, US, on Monday, Nov. 14, 2022. Andrew Harrer | Bloomberg | Getty Images Federal Reserve...
Inflation expectations rebound on record-high jump in gas outlook: NY Fed survey
A Sheetz customer gets gasoline at a gas station in Plains, Pennsylvania, U.S. October 19, 2022. Aimee Dilger | Reuters Americans grew more worried about inflation in the October, with fears emanatin...
Fed Quick To Downplay November Inflation Surprise, Markets Disagree
The market reaction to positive signs in the November CPI report has been very strong. However, the … [+] Fed doesn’t share the enthusiasm seeing a long road ahead in the inflation fight. ...
Fed’s Waller says market has overreacted to consumer inflation data: ‘We’ve got a long, long way to go’
Federal Reserve Gov. Christopher Waller said Sunday that financial markets seem to have overreacted to the softer-than-expected October consumer price inflation data last week. “It was just one data p...
Biggest Stock Market Rally In Years Looks ‘Overdone’ Since Fed Has Yet To Beat Inflation
Topline Investors plowed into the stock market this week after a monthly inflation report ended a streak of worse-than-expected data this year, fueling the biggest rally in years on hopes the Federal ...
New York Fed collaborates with Singapore MAS to explore CBDCs
The New York Innovation Center (NYIC) of the Federal Reserve Bank of New York and the Monetary Authority of Singapore (MAS) will launch a joint experiment with wholesale central bank digital currencie...
Fed May Need to Raise Rates to 6%, Monetary Economist Taylor Says
(Bloomberg) — The Federal Reserve needs to raise interest rates significantly higher, to perhaps 6%, to reduce inflation, influential monetary economist John Taylor said on Friday. Most Read fro...
U.S. stocks could rally another 25% now that Fed no longer has ‘back against the wall’ in inflation fight
One of Wall Street’s most implacable bulls has laid out his argument for why he thinks U.S. stocks can continue to rally into the year’s end after Thursday’s game-changing October inflation data. Tom ...
New York Fed, several big banks testing ‘regulated liability network’
The Federal Reserve Bank of New York is poised to unveil a proof-of-concept for “regulated liability networks” — an experiment around tracking and transmitting tokenized debt issued by an array of reg...
Inflation data raises doubts about whether Fed will ‘stay the course’: Morning Brief
This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, November 11, 2022 Today’s newsletter...
Asia Rally May Just Be ‘False Dawn’ as Fed Isn’t Done With Hikes
(Bloomberg) — Amid a broad Asia rally on expectations for a dovish shift from the Federal Reserve, some strategists warned the market reaction may be excessive. Most Read from Bloomberg Asian bo...
Fed officials welcome inflation news but still see tighter policy ahead
Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, March 29, 2022. Andrew Kelly | Reuters Federal Reserve officials welcomed Thursday’s news showing that inflat...
Markets Soar As Inflation Hits Lowest Level Since January
Markets made big gains off a positive inflation report. (Photo by Spencer Platt/Getty Images) Getty Images Key takeaways Inflation has increased 0.4% in October, below forecasts of 0.6%. This brings t...
Encouraging CPI Inflation Report May Signal An Earlier Fed Pause
November’s CPI report for the month of October offered some early signs that U.S. inflation was … [+] falling. That may prompt the Fed to be less aggressive in hiking rates. Photographer: ...
Slowest Pace Since January But High Food, Rent Prices Remain ‘Problematic’
Topline Inflation grew at the slowest pace since January last month as the Federal Reserve’s interest rate hikes tank sectors of the economy in an effort to cool demand and tame rising prices—a potent...
Fed may need to hike interest rates above 6% to crush inflation, Larry Summers says
Stubbornly high inflation could force the Federal Reserve to aggressively raise interest rates above 6%, the highest in more than two decades, according to former Treasury Secretary Larry Summers. The...