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☆ Stock market today: Indexes trade mixed as Nvidia-led momentum takes a break ahead of earnings
▼ + stars: | 2024-05-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Stock trades fell flat as investors take a breather ahead of Nvidia's earnings. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe latest rally in stocks faltered Tuesday morning, with investors stepping back ahead of Nvidia's upcoming earnings report and further communications from Federal Reserve officials. Tuesday will also be saturated with speakers from the Federal Reserve, whose comments could provide insight into monetary policy.

Persons: —, Dow, Jamie Dimon, David Morrison, Thomas Barkin, Christopher Waller, John Williams, Raphael Bostic, Susan Collins, Loretta Mester Organizations: Fed, Service, Federal Reserve, Nasdaq, Alto Networks, Urban Outfitters, Toll, Trade Nation Locations: Here's

☆ Stock futures are little changed after Nasdaq Composite hits all-time high: Live updates
▼ + stars: | 2024-05-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are near flat Monday night after the technology-heavy Nasdaq Composite closed at an all-time high. Dow Jones Industrial Average futures lost just 27 points, while S&P 500 futures also sat near its flatline. Those moves come after a mixed day on Wall Street. But the blue-chip Dow slipped almost 200 points, or 0.5%. Monday's action follows a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy.

Persons: Dow, Jamie Dimon, Keith Buchanan, Christopher Waller, Tom Barkin, Raphael Bostic Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, Palo Alto Networks, LSEG, Nvidia, JPMorgan, Globalt Investments, Federal, Richmond Fed, Atlanta Fed, Traders

☆ Dow crosses 40,000 for the first time
▼ + stars: | 2024-05-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —The Dow broke past the 40,000 threshold Thursday morning for the first time ever, fueled by an encouraging inflation report. It also highlights a notable contrast between sentiment on Wall Street and Main Street. Dow 100: The Dow first closed in triple digits in January 1906. The Dow nearly matched that in 2017, rising 25%. Dow 30,000: Nov. 24, 2020: Covid sent the stock market plunging in the spring of 2020.

Persons: Dow, stoking, ”, Gary Pzegeo, John Williams, Tom Barkin, ” Tyler Schipper, Thomas, Hogan, Teddy Roosevelt, Richard Nixon, Trump, Covid Organizations: New, New York CNN, Markets, Federal Reserve, Bureau of Labor Statistics, CIBC Private Wealth, ”, Walmart, Airlines, Big Tech, York Fed, Reuters, Richmond Fed, Dow, University of Michigan, CNN, CPI, University of St, Riley Financial, Wall, Microsoft, Chevron, Traders, New York Stock Exchange, Getty, Federal, Woolworth, Eastman Kodak Locations: New York, United States, Minnesota, Chevron —, AFP

☆ Richmond Fed President Tom Barkin: People are still trying to take price on the services side
▼ + stars: | 2024-05-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRichmond Fed President Tom Barkin: People are still trying to take price on the services sideRichmond Fed President Tom Barkin joins 'Squawk on the Street' to discuss how much ability companies have to pass along higher prices, the Fed president's thoughts on the latest CPI report, and more.

Persons: Tom Barkin Organizations: Richmond Fed

☆ Stock market today: Indexes slip after Dow crosses 40,000 for the first time
▼ + stars: | 2024-05-16 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

Stocks turned lower and closed in the red on Thursday after the Dow briefly crossing 40,000 for the first time. The S&P 500 failed to extend its gains after closing at a record high on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The Dow failed to close above the key threshold, and the S&P 500 struggled to consolidate gains after hitting a record close on Wednesday. AdvertisementBroadly, the Fed speakers on Thursday painted a picture of a central bank in no hurry to pivot as inflation remains above its 2% target.

Persons: Stocks, —, Dow, Tom Barkin, John Williams, Barkin Organizations: Dow, Service, Dow Jones, Federal Reserve, Richmond Fed, York Fed, Reuters, CNBC Locations: Here's

☆ Stock market today: Dow crosses 40,000 for the first time as stocks extend record-setting run
▼ + stars: | 2024-05-16 | by ( Max Adams | ) www.businessinsider.com time to read: +2 min

The Dow Jones Industrial Average surpassed 40,000 for the first time ever Thursday. Stocks are on a record-setting run after a soft April inflation reading, with the S&P 500 extending gains after a record close on Wednesday. AdvertisementThe Dow Jones Industrial Average surpassed 40,000 for the first time ever on Thursday, with stocks extending gains following Wednesday's cooler inflation reading for April. Advertisement"The overall trend looks reasonably good," Williams said regarding inflation during an interview with Reuters. AdvertisementHere's where US indexes stood at 11:00 a.m. on Thursday:Here's what else is going on today:AdvertisementIn commodities, bonds, and crypto:

Persons: Stocks, —, John Lynch, Dow, Tom Barkin, Patrick Harker, Loretta Mester, Raphael Bostic, John Williams, Williams, Chris Zaccarelli Organizations: Dow Jones Industrial, Service, Federal Reserve, Comerica Wealth Management, Reuters, Labor Department, GameStop, AMC, Here's

☆ 10-year Treasury yield rises as investors consider remarks from Fed officials
▼ + stars: | 2024-05-09 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

U.S. Treasury yields were higher on Thursday as investors considered remarks from Federal Reserve officials, scanning them for hints about the interest rate outlook. Collins' comments echoed those made by Minneapolis Fed President Neel Kashkari and Richmond Fed President Tom Barkin earlier in the week. More Fed officials are set to speak on Thursday and Friday. Elsewhere, the Bank of England is due to announce its latest interest rate decision on Thursday. The BoE is widely expected to leave interest rates unchanged, but investors will be scanning Governor Andrew Bailey's statement for hints about a potential summer rate cut.

Persons: Susan Collins, Collins, Neel Kashkari, Tom Barkin, BoE, Andrew Bailey's Organizations: Treasury, Federal Reserve, Boston, Wednesday, Minneapolis, Richmond Fed, Fed, Bank of England

☆ Treasury yields inch higher as investors weigh interest rate outlook
▼ + stars: | 2024-05-08 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Yields and prices have an inverted relationship and one basis point equals 0.01%. ET the yield on the 10-year Treasury was up by more than 1 basis point at 4.479%. U.S. Treasury yields were slightly higher Wednesday as investors weighed the latest remarks from Federal Reserve officials, looking for clues on the path ahead for interest rates. Last week, Fed Chair Jerome Powell said the Fed was unlikely to hike rates at its next meeting. More comments from Fed officials are expected throughout the week, which investors will be scanning for hints about the monetary policy outlook.

Persons: Neel Kashkari, Tom Barkin, Jerome Powell Organizations: Treasury, U.S, Federal Reserve, Minneapolis, Richmond Fed

☆ Stock market today: US stocks end mostly higher as multi-day rally pushes on
▼ + stars: | 2024-05-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

The recent equity rebound stalled as investor rate cut bets were made uncertain by Fed commentary. Fed President Neel Kashkari said rates might not be restrictive enough to clamp down on inflation. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS stocks were mostly higher Tuesday, with the S&P 500 and Dow Jones Industrial Average continuing to pull slightly higher. His remarks followed similar hawkishness from Fed President Tom Barkin on Monday, who indicated that the economy will need to slow down more before policy can pivot.

Persons: Neel Kashkari, —, Tom Barkin, Lisa Cook, Austan Goolsbee Organizations: Disney, Service, Dow Jones, Dow, Minneapolis Federal, Chicago Locations: Minneapolis, Here's

☆ Treasury yields fall as investors consider Fed policy path
▼ + stars: | 2024-05-07 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

The 2-year Treasury yield was last over one basis point lower to 4.8095%. U.S. Treasury yields declined on Tuesday as investors considered the outlook for Federal Reserve monetary policy following the latest economic data and remarks from central bank officials. In recent weeks, expectations have moved toward there being fewer rate cuts in 2024 than previously expected, or even none. Barkin's comments came after a weaker-than-expected April jobs report released at the end of last week had buoyed hopes about rate cuts. More Fed policymakers are slated to make remarks throughout the week, which investors will be watching closely for additional hints about the policy outlook.

Persons: Tom Barkin Organizations: Treasury, U.S, Federal Reserve, Investors, Richmond Federal, Fed

☆ Stock market today: US stocks climb on solid earnings and rate cut hopes
▼ + stars: | 2024-05-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks surged on Monday amid solid first-quarter earnings reports and renewed hopes of interest rate cuts. The futures market is now pricing in at least two interest rate cuts by the end of the year. AdvertisementUS stocks surged on Monday, extending gains from Friday and marking the best three-day rally of the year as investors cheered solid first-quarter earnings report and hopes for interest rate cuts were renewed. AdvertisementThe futures market sees two 25-basis point interest rate cuts from the Federal Reserve by the end of the year, which is an increase from the recent pricing of just one interest rate cut a week ago. Investors will look for further clues about interest rate cuts from several Federal Reserve members this week, with nine scheduled to speak between throughout the week.

Persons: —, Tom Barkin Organizations: Service, Nvidia, Federal Reserve Locations: Here's

☆ France's Macron set to press visiting Xi on trade, Ukraine
▼ + stars: | 2024-05-05 | by ( ) www.cnbc.com time to read: +1 min

Chinas President Xi Jinping (L) and his French counterpart Emmanuel Macron attend the official welcoming ceremony in Beijing on April 6, 2023. China's President Xi Jinping heads to Paris on Sunday for a rare visit, with his French counterpart Emmanuel Macron set to press him to reduce trade imbalances and try to convince him to use his influence on Russia over the war in Ukraine. Neither aim will be easily fulfilled during Xi's two-day stay in France, where he arrives at a time of growing trade tensions between Europe and China. His official meetings will include joint talks with Macron and European Commission chief Ursula von der Leyen. German Chancellor Olaf Scholz will not join Macron and Xi in Paris due to prior commitments, sources said.

Persons: Xi Jinping, Emmanuel Macron, Xi, Ursula von der, Olaf Scholz, Noah Barkin Organizations: China's, European Union, EU, Macron, European Commission Locations: Beijing, Paris, Russia, Ukraine, France, Europe, China, European, Germany, German

☆ Stock futures inch higher Sunday after weaker-than-expected jobs report left investors looking up: Live updates
▼ + stars: | 2024-05-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Dow Jones Industrial Average futures rose 66 points, or around 0.2%. Last week, the Dow and Nasdaq gained 1.1% and 1.4% each, while the S&P 500 gained 0.5%. But the April jobs report helps clear a path to that destination," said Comerica Bank chief economist Bill Adams. While the peak of the first-quarter earnings season has passed, investors are still watching key companies set to report this week, including Dow member Disney on Tuesday and Uber on Wednesday. On the economic front, Richmond Fed president Tom Barkin and New York Fed president John Williams are both scheduled to speak on Monday.

Persons: Dow, Bill Adams, Warren Buffett's Berkshire Hathaway, Uber, Emmanuel Cau, Tom Barkin, John Williams Organizations: New York Stock Exchange, U.S ., Federal Reserve, Dow Jones Industrial, Nasdaq, Dow, Traders, Comerica Bank, Apple, Disney, Barclays, Richmond Fed, New York Fed Locations: New York City, U.S, U.S . U.S

☆ China’s Xi is visiting Europe for the first time in five years – his goodwill tour will be an uphill struggle
▼ + stars: | 2024-05-04 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +9 min

Major breakthroughs with China’s toughest critics will be hard to come by unless Xi is ready to make surprise concessions. And the trip could instead serve to underscore divisions – not only between Europe and China – but those within Europe that could play to China’s favor, analysts say. Chinese President Xi Jinping and French President Emmanuel Macron visit a garden in Guangdong during Macron's state visit to China last April. Putin has said he plans to visit China this month, according to Russian state media. Xi may also look to highlight Chinese investments in both Belgrade and Budapest in a message to the rest of Europe.

Persons: Xi Jinping, Andrea Bocelli, –, Xi, China –, ”, Noah Barkin, Hungary –, Ursula von der Leyen, Emmanuel Macron, Von der Leyen, Olaf Scholz, Chong Ja Ian, “, Chong, Jacques Witt, China’s, Macron, Russia …, Wang Yiwei, Vladimir Putin, Putin, Aleksandar Vučić, Viktor Orban – Organizations: CNN, European Union, Ukraine, German Marshall Fund of, EU, “, National University of Singapore, Getty, Beijing’s Renmin University, NATO, Reuters, EV Locations: China, Italy, France, Germany, United Kingdom, Russia, “ China, Europe, Berlin, United States, Serbia, Hungary, Beijing, Paris, “ France, North America, Guangdong, Ukraine, Switzerland, Barkin, “, Belgrade, Budapest, Balkans, Balkan

☆ Biden’s manufacturing industry is expanding, but that could be bad for inflation
▼ + stars: | 2024-04-07 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

But a resurgence in the industry could complicate the Federal Reserve’s ongoing inflation fight, either delaying the first interest rate cut or resulting in fewer cuts this year, some economists say. Interest rates have been at a two-decade high since July, after the Fed raised rates aggressively over the prior year and a half. The economy picking up further strength would spook Wall Street because of what it means for interest rates — and some manufacturers say they’re optimistic about the future. The Bank of Canada announces its latest interest rate decision. China’s National Bureau of Statistics releases March inflation data.

Persons: Joe Biden, ”, Tom Barkin, “, Mary Daly, ” Daly, Jerome Powell, Neel Kashkari, ” Kashkari, ” Richard de Chazal, Blair, they’re “, Amazon’s, It’s, Ramishah Maruf, Amazon, haven’t, Read Organizations: Washington CNN, Institute for Supply Management, Congress, Fed, ” Richmond Fed, ” San Francisco Fed, Minneapolis, Dow, Blair Equity Research, Amazon, Fresh, Delta Air Lines, US Labor Department, Index, Bank of Canada, Federal Reserve, National Bureau of Statistics, Constellation Brands, European Central Bank, JPMorgan Chase, Citigroup, State, National Statistics, The University of Michigan Locations: Richmond , Virginia, ” San, Las Vegas, India, Wells Fargo, Progressive, BlackRock

☆ 10-year Treasury yield slightly higher as investors await Fed speeches, economic data
▼ + stars: | 2024-04-04 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

The 2-year Treasury note yield traded marginally higher at 4.685%. The 10-year Treasury yield was slightly higher on Thursday as investors closely monitored speeches from a host of Federal Reserve officials and awaited the release of key economic data. It comes as market participants continue to keep track of comments from Fed officials and await the release of the U.S. jobs report on Friday. A flurry of Fed speeches are also scheduled to take place. Philadelphia Fed President Patrick Harker, Richmond Fed President Tom Barkin and Minneapolis Fed President Neel Kashkari are just some of the officials poised to deliver comments on the outlook for the U.S. economy.

Persons: Jerome Powell, Powell, Patrick Harker, Tom Barkin, Neel Kashkari, —, Jeff Cox Organizations: Federal Reserve, Stanford University, Traders, Philadelphia Fed, Richmond Fed, Minneapolis Fed Locations: U.S, Richmond

☆ Fed Chair Powell says there’s no rush to cut interest rates
▼ + stars: | 2024-03-06 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

Washington, DC CNN —The Federal Reserve is in no rush to cut interest rates, according to Fed Chair Jerome Powell’s written testimony submitted to congressional lawmakers, released Wednesday. Recent economic data showed that price pressures persisted in January, leading investors to recalibrate their expectations for rate cuts this year. Still, the timing and pace of rate cuts remains up in the air. Too soon to cut rates? In a recent interview with CNBC, Richmond Fed President Thomas Barkin said “we’ll see” if the Fed cuts rates in 2024.

Persons: Jerome Powell’s, Powell’s, inflation’s, ”, José Torres, “ Young, there’s, Raphael Bostic, Thomas Barkin, “, “ I’m, Austan Goolsbee, we’re, Adriana Kugler Organizations: DC CNN, Federal, Fed, Financial, “, Interactive Brokers, CNN, Atlanta Fed, CNBC, Richmond Fed, Congress, Chicago Fed, ”, Stanford University Locations: Washington

☆ Premarket stocks: Why it’s not all doom and gloom for commercial real estate
▼ + stars: | 2024-03-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —After decades of growth bolstered by low interest rates and easy credit, commercial real estate has hit a wall. I take that as a signal of a potential turn in the CMBS market in terms of the market sentiment. It’s not just all gloom and doom in the CRE market. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. OPEC+, a coalition of the world’s top oil producing countries, had announced voluntary oil cuts of 2.2 million barrels per day in November.

Persons: Tracy Chen, Chen, that’s, Bell, Banks aren’t, CMBS, We’ve, they’ve, —, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, Eva Rothenberg, Brent, Goldman Sachs Organizations: CNN Business, Bell, New York CNN, New York Community Bancorp, Brandywine, Intercontinental Exchange and Bank of America, outperformance, Fed, New York Community Bank, York Community Bank, Federal, Apollo Global Management, Richmond Federal, CNBC, OPEC, AAA Locations: New York, Japan, Switzerland, Germany, New, New York City, Richmond, OPEC, Saudi Arabia, Russia, Iraq, United States

☆ The US economy is so strong that there might not be any rate cuts in 2024
▼ + stars: | 2024-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Now, some economists think the Fed won’t cut interest rates at all this year. “The Fed will not cut rates this year and rates are going to stay higher for longer,” he added. Richmond Federal Reserve President Tom Barkin echoed the idea that the central bank may not cut interest rates this year. In some ways, the expectations of interest rate cuts by the Fed undermined their efforts to actually cut the rates. Still, about half of investors are expecting an interest rate cut at the Fed’s June meeting, according to the CME FedWatch tool.

Persons: —, that’s, Jerome Powell, Torsten Slok, “, Tom Barkin, ” Barkin, “ I’m, ” Robert Frick, ”, Powell Organizations: New, New York CNN, Federal, Apollo Global Management, Richmond Federal, CNBC, Navy Federal Credit Union, CNN, Fed, National Federation of Independent, Investors, Financial Services, Senate Locations: New York, Richmond

☆ Richmond Fed President Tom Barkin: Got a shot to bring inflation down 'very close to our target'
▼ + stars: | 2024-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRichmond Fed President Tom Barkin: Got a shot to bring inflation down 'very close to our target'CNBC’s Steve Liesman and Richmond Fed President Tom Barkin join 'Squawk Box' to discuss the state of the U.S. economy, whether the culture of raising prices is still in effect, the Fed's interest rate outlook, and more.

Persons: Tom Barkin, Steve Liesman Organizations: Richmond Fed Locations: U.S

☆ Premarket stocks: Joe Biden’s top economic adviser isn’t worried about the latest inflation data
▼ + stars: | 2024-02-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —US markets broke a five-week winning streak last Friday after disappointing inflation data reignited economic and interest rate-related fears on Wall Street. Then last week, two key inflation indicators for January — the Consumer Price Index and Producer Price Index — rose above Wall Street expectations. Richmond Fed President Thomas Barkin said the new data showed that the Fed needs more confidence before cutting rates. I think in this case, the market isn’t necessarily telling you much about the economy’s fundamentals, the market is telling you what other market participants think. And I think that those economic fundamentals get you to the part that says, you know, it’s not not the economy.

Persons: Price, Thomas Barkin, Raphael Bostic, isn’t, Bell, Jared Bernstein, Joe Biden, I’m, they’re, It’s, it’s, Joe Weisenthal, Elisabeth Buchwald, Hanna Ziady, Liam Peach, ” Peach Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Richmond Fed, White House Council, Economic Advisers, CPI, Apple, Google, Nvidia, Microsoft, Capital, Discover Financial Services, Discover, Hamas, Gross, Israel’s, Bureau, Statistics, Capital Economics Locations: New York

☆ Europe is nervous about a potential Trump win. China sees an opportunity
▼ + stars: | 2024-02-19 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +10 min

China – which has not condemned Russia’s invasion and claims impartiality in the conflict – has also emerged as a key lifeline for the sanctions-hit Russian economy. In Europe, this has galvanized concerns about China’s own global ambitions and played a role in the European Union’s ongoing push to recalibrate its policy toward China. EU foreign policy chief Josep Borrell reiterated the EU’s “expectation that China refrains from supporting Russia,” in a meeting with Wang Friday. “As long as war in Ukraine continues, EU policies toward China will move into closer alignment with the US. As president, Trump not only voiced skepticism of the system of US alliances in Europe, but leveraged tariffs on European steel and aluminum, sparking retaliatory measures on US goods from Europe.

Persons: Hong Kong CNN —, Wang Yi, Wang, Donald Trump, Trump, ” Wang, Alexey Navalny, Vladimir Putin’s, “, ”, Noah Barkin, Maxym Marusenko, Putin, Xi Jinping, –, Jens Stoltenberg, Josep Borrell, Christoph Heusgen, Dmytro Kuleba, Xi, hasn’t, It’s, Kuleba, Vladimir Putin, Xie Huanchi, Yu Jie, ‘, Liu Dongshu, “ Wang Yi, China …, ” Liu, Emmanuel Macron, GMF Organizations: Hong Kong CNN, Munich, Washington, NATO, German Marshall Fund of, Communist Party, Wang Friday, Bloomberg, CNN, China’s, Ministry, ”, Ukrainian, Security, Beijing, Peace, Getty, ’ Observers, US, Chatham House, City University of Hong, “, White Locations: China, Hong Kong, States, Europe, Ukraine, Beijing, Munich, Moscow, Russia, United States, Russian, Ukraine's Kharkiv, West . China, Taiwan, EU, ”, China’s, Asia, Pacific, ” Beijing, Switzerland, Xinhua, London, Spain, France, City University of Hong Kong’s, Washington, York

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

☆ Elizabeth Warren rips Fed for fueling affordability crisis in housing, calls for rate cuts
▼ + stars: | 2024-01-29 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —America has a housing affordability crisis and Elizabeth Warren blames Jerome Powell and his colleagues at the Federal Reserve. To fight inflation, the Fed spiked interest rates at the fastest pace since the early 1980s. However, the Fed’s war on inflation set off shockwaves in the housing market. The one-two punch of elevated borrowing costs and record-high home prices has made the housing market historically unaffordable. “High interest rates have aggravated the country’s crisis of housing access and affordability,” the Senate Democrats wrote.

Persons: Elizabeth Warren, Jerome Powell, Powell, Warren, ” Warren, Democratic Sens, John Hickenlooper, Jacky Rosen, Sheldon Whitehouse, Freddie Mac, “, Tom Barkin didn’t, ” Organizations: New, New York CNN, Federal Reserve, CNN, Democratic, Democrats, Fed, National Association of Home Builders, Mortgage Bankers Association, National Association of Realtors, Richmond Fed Locations: New York, America, White

☆ Fed’s Barkin: March rate cut isn’t out of the picture. ‘You make the call when you get to the meeting’
▼ + stars: | 2024-01-22 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

The positive economic developments as well as Fed officials’ forecasts for at least three rate cuts this year had investors eying a March pivot. Meanwhile, Barkin — who will also be voting on Fed policy decisions at meetings this year — isn’t ruling March out entirely. For Barkin, “the breadth of inflation settling” and “the consistency of inflation settling” matter in his evaluation of whether the inflation rate is approaching the Fed’s target. Unlike many Fed officials, Barkin does not have a PhD in economics but has an MBA and a law degree. Investors will be paying close attention to any hints of the timing of rate cuts in the central bank’s latest statement and Fed Chair Jerome Powell’s press conference.

Persons: Tom Barkin, Barkin, eying, Christopher Waller, “, Loretta Mester, Barkin —, isn’t, ” Barkin, ”, ” ‘ There’s, John Williams, Jerome Powell, Williams, “ There’s, Jerome Powell’s Organizations: New, New York CNN, Richmond Federal, CNN, Fed, Cleveland Fed, FactSet, Richmond Fed, McKinsey, ” New York Fed, Raleigh Chamber of Commerce, That’s Locations: New York

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