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☆ Fed policy makers need to be a bit more cautious, says EY Parthenon's Greg Daco
▼ + stars: | 2024-04-30 | 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 EmailFed policy makers need to be a bit more cautious, says EY Parthenon's Greg DacoHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: EY, Greg Daco, Brian Sullivan, “ Organizations: Fed, CNBC

☆ Markets 'spooked' by sticky inflation, says John Hancock's Emily Roland
▼ + stars: | 2024-04-25 | 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 EmailMarkets 'spooked' by sticky inflation, says John Hancock's Emily RolandEmily Roland, John Hancock Investment Management co-chief investment strategist, and Greg Daco, chief economist at EY-Parthenon, and CNBC's Steve Liesman join 'The Exchange' to breakdown the latest GDP data.

Persons: John Hancock's Emily Roland Emily Roland, John, Greg Daco, Steve Liesman Organizations: John Hancock Investment Management Locations: EY

☆ March jobs report comes in hot: The US economy added 303,000 positions last month
▼ + stars: | 2024-04-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Instead, on Friday, yet another jobs report defied expectations. “Today’s jobs report raises the possibility that rather than slowing down, job growth might be holding steady,” Nick Bunker, Indeed Hiring Lab’s economic research director for North America, said in a statement. Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs). President Joe Biden touted March’s jobs report Friday. With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office.

Persons: Nick Bunker, Joe Biden, “, ” Biden, —, Greg Daco, ”, ” Daco, we’ve, Erica Groshen, ” Brett House, Daco, Price Organizations: New, New York CNN, of Labor Statistics, Federal Reserve, North, ”, CNN Business, Cornell University, CNN, Brookings Institution, Congressional, Columbia Business School, Fed, Labor Locations: New York, North America, EY, United States

☆ Stocks will rally sharply when Israel's ground invasion of Gaza kicks off, veteran investor says
▼ + stars: | 2023-10-26 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Stocks will rally, rather than plunge, if Israel sends troops into Gaza, according to one market veteran. Anderson's view clashes with the consensus on Wall Street, where investors are worried the Middle-Eastern crisis could escalate into a wider conflict. NEW LOOK 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 . AdvertisementAdvertisementWall Street is fretting about Israel launching a ground invasion of Gaza – but one veteran investor thinks it could set the stage for a stock-market rally.

Persons: Tim Anderson, —, who's, Anderson, Greg Daco Organizations: Service, TJM Investments, Fox Business, Hamas Locations: Israel, Gaza, Iran

☆ Wall Street's dream scenario is dead
▼ + stars: | 2023-10-07 | by ( Matthew Fox | ) www.businessinsider.com time to read: +8 min

Wall Street's vision of a Goldilocks scenario for the stock market and economy is unraveling. AdvertisementAdvertisementWall Street's dream of a Goldilocks scenario for the stock market and economy is probably dead. Interest rates soared. As painful as inflation and higher interest rates were, the economy remained resilient as consumers held onto their jobs and kept swiping their credit cards. It has to acknowledge that interest rates are now sufficiently restrictive, and decide that it's next monetary policy move isn't an interest rate hike, but rather a pause, and then a cut.

Persons: —, it's, Jerome Powell, Powell's, Powell, Buckle, Greg Daco, Something's, Kevin O'Leary, we've, Wharton, Jeremy Siegel, Mary Daly, Raphael Bostic Organizations: Service, Treasury, Valley Bank, Bloomberg, CNBC Locations: America

☆ How Wall Street makes money by predicting the Fed’s decisions
▼ + stars: | 2023-09-20 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

There, you will find a bar chart plotting the share of traders predicting a rate hike, cut or no change in interest rates at an upcoming meeting. Traders’ actions translate into interest rate decision probabilitiesWhen the Fed changes interest rates it’s actually changing what’s known as the federal funds rate target range. The federal funds rate is the interest rate banks charge each other to borrow money, and it impacts the interest rate consumers pay for a variety of loans, including some mortgages. But it wasn’t until 2013 that the CME Group launched the FedWatch tool, giving everyone access to the information without having to do complex calculations. Why the FedWatch Tool is so closely followedThe Fed’s interest rate decisions can have serious implications for your investments.

Persons: that’s, Jerome Powell, ” Powell, Agha Mirza, Mirza, ”, FedWatch, ” Mirza, Alex McGrath, Ben Bernanke, Ken Kuttner, Powell’s Jackson, Dow, Greg Daco, Daco, McGrath, ” McGrath Organizations: New, New York CNN, Federal, Chicago Mercantile Exchange, CME Group, CNN, Fed, Index, “ Investors, Williams College Locations: New York, EY

☆ Government shutdown would leave the Fed flying blind
▼ + stars: | 2023-09-18 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —In the event of a US government shutdown, the Bureau of Labor Statistics says it will stop releasing data, including key figures on inflation and unemployment. A lack of crucial government data would make it difficult for investors and the Federal Reserve to interpret the US economy. “By the time the Fed discovered its mistake, the effects of excessive monetary tightening could be difficult to reverse,” she said. It’s unclear whether the Fed would hold rates steady in the absence of government data or how it would navigate a government shutdown when deliberating monetary policy. The effects of a government shutdown also depend on how long it lasts, which also isn’t clear at this point.

Persons: Kevin McCarthy, acquiesce, Greg Daco, ”, Agron Nicaj, Price, Julia Pollak Organizations: DC CNN, of Labor Statistics, Federal Reserve, BLS, Republicans, “, MUFG, Labor, Survey, ZipRecruiter, Fed Locations: Washington, EY, United States, —

☆ Why the U.S. has a productivity problem
▼ + stars: | 2023-08-25 | by ( Jeff Huang | In Jefftchuang | ) www.cnbc.com time to read: +1 min

Enter the labor productivity metric. But labor productivity in the U.S. has been falling. Prior to the data from the most recent quarter, the country had seen five consecutive quarters of year-over-year declines in worker productivity. "Sluggish productivity means sluggish growth. Watch the video above to find out more about how labor productivity is measured, how effective a metric it is for economists, the reasons behind the slowdown in productivity and the impact it has on the U.S. economy.

Persons: Jason Furman, Barack Obama, Greg Daco, Furman Organizations: Federal Reserve, Harvard Kennedy School, of Economic Advisers, of Labor Statistics Locations: U.S

☆ It's unclear how consumers will cope with softer job market and more debt, says economist Greg Daco
▼ + stars: | 2023-06-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's unclear how consumers will cope with softer job market and more debt, says economist Greg DacoGregory Daco, EY-Parthenon Chief Economist, joins 'Fast Money' to explain why he's bearish on the consumer in a softening economy.

Persons: Greg Daco Gregory Daco

☆ Smaller Banks’ Critical Role in Economy Means Distress Raises Recession Risks
▼ + stars: | 2023-03-19 | by ( Gwynn Guilford | ) www.wsj.com time to read: 1 min

Main Street businesses and American families are likely to find it harder to get a loan because of turmoil in the banking industry, denting economic growth and raising the risk of a recession. “The risk in terms of the spark from SVB is real,” said Greg Daco , chief economist at EY-Parthenon, a strategy consulting unit of Ernst & Young LLP. The collapse of Silicon Valley Bank set off fear among depositors that led to the failure of Signature Bank and the move to rescue First Republic Bank .

☆ Economists say there is a 61% likelihood for a recession in 2023, and businesses are preparing
▼ + stars: | 2023-01-16 | by ( Alexandra York | ) www.businessinsider.com time to read: +4 min

Economists say there is a 61% likelihood for a recession in 2023, according to the Wall Street Journal survey. Some say high interest rates will push the US economy into the recession. For instance, some say higher interest rates will push the U.S. economy into a recession this year. Regardless, businesses and workers alike are preparingSince the middle of 2022, businesses and workers have continued preparing for the economic downturn to come. Despite today's economic fears, now is actually a beneficial time to start these small businesses, financial experts told Insider.

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