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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWells Fargo's Jay Bryson talks what January's core PCE data could mean for interest ratesJay Bryson, Wells Fargo chief economist, and CNBC's Steve Liesman join 'The Exchange' to discuss January's core PCE data, the timeline of the Fed's future rate decisions, and more.
Persons: Wells Fargo's Jay Bryson, Jay Bryson, Wells, Steve Liesman Locations: Wells Fargo
These are the big deflationary factors"A lot of factors have come together to push goods prices down," said Mark Zandi, chief economist at Moody's Analytics. In addition to normalizing supply-demand dynamics, a historically strong U.S. dollar relative to other global currencies has also helped rein in goods prices, Zandi said. Falling energy prices have also put downward pressure on goods prices, due to lower transportation and energy-intensive manufacturing costs, economists said. Lower energy prices also put downward pressure on the transportation of food to store shelves. Consumers get more for roughly the same amount of money, which shows up as a price decline in the CPI data.
Persons: RC Willey, George Frey, Jay Bryson, there's, Mark Zandi, Zandi, rebalancing, J.P, Hopper Organizations: RC, Bloomberg, Getty, U.S . Bureau of Labor Statistics, Wells, Wells Fargo Economics, Moody's, U.S . Federal, Services, Finance, Morgan's, Investment, Group, of Labor Statistics Locations: Draper , Utah, Wells Fargo, U.S, Salinas, California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRecession still remains likely for US economy, says Wells Fargo's Jay BrysonJay Bryson, chief economist at Wells Fargo, joins 'The Exchange' to discuss the inflation outlook, the risk of a recession, and more.
Persons: Wells Fargo's Jay Bryson Jay Bryson Locations: Wells Fargo
Dollar tracks Treasury yields lower as Fed stays on hold
  + stars: | 2023-11-02 | by ( ) www.cnbc.com   time to read: +3 min
The dollar fell broadly on Thursday, tracking a slide in U.S. Treasury yields as markets grew more convinced the Federal Reserve was done with its aggressive monetary policy tightening cycle after it left rates unchanged. However, Fed Chair Jerome Powell acknowledged that a recent market-driven rise in Treasury bond yields, home mortgage rates and other financing costs could have their own impact on the economy as long as they persist. The dollar edged broadly lower alongside U.S. Treasury yields which touched multi-week lows in early Asia trade. "This could take some time to develop and is one reason we are likely to see higher rates for longer." The move lower in the dollar brought some respite for the yen, though it remained on the weaker side of 150 per dollar.
Persons: Jerome Powell, Wells, Jay Bryson, Lon Erickson, Tom Kenny Organizations: Treasury, Federal, Fed, New, U.S, Traders, Thornburg Investment Management, Bank of Japan's, ANZ, Bank of Locations: U.S, Wall, Asia, New Zealand, Wells Fargo
Watch CNBC's full interview with Wells Fargo's Jay Bryson
  + stars: | 2023-10-02 | 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 EmailWatch CNBC's full interview with Wells Fargo's Jay BrysonJay Bryson, chief economist at Wells Fargo, joins 'The Exchange' to discuss today's ISM report data, gauging recession risk in 2024, and the cost of rising bond yields on equities.
Persons: Wells Fargo's Jay Bryson Jay Bryson Locations: Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe probably continue to see inflation rate come down, says Wells Fargo's Jay BrysonJay Bryson, chief economist at Wells Fargo, joins 'The Exchange' to discuss today's ISM report data, gauging recession risk in 2024, and the cost of rising bond yields on equities.
Persons: Wells Fargo's Jay Bryson Jay Bryson Locations: Wells Fargo
However, some investors believe a bearish China story is shifting the spotlight onto investment opportunities in other Asian markets. Morgan Stanley downgraded the iShares MSCI China ETF (MCHI) to equal weight from overweight in early August, citing lower earnings growth expectations and structural challenges. Opportunity in Japan Japan currently stands out as a "particularly attractive" investment play, according to Horizon Investments chief investment officer Scott Ladner. Investors can get access to the Japanese market through the iShares MSCI Japan ETF (EWJ) , which has an expense ratio of 0.5% and more than $13 billion in assets. Ways to play the space include the iShares MSCI South Korea ETF (EWY) , the Franklin FTSE South Korea ETF (FLKR) and the iShares MSCI Taiwan ETF (EWT) .
Persons: Morgan Stanley, Wells, Jay Bryson, Scott Ladner, Ladner, Seth Carpenter, it's, Carlos Asilis, China —, Asilis, Franklin Templeton's FLKR, we've Organizations: Horizon Investments, Bank of Japan, Glovista Investments, Korea ETF, Franklin FTSE, Franklin FTSE South Korea ETF, U.S Locations: China, Wells Fargo, Japan Japan, Japan, Asia, Pacific, South Korea, Taiwan, Korea, Franklin FTSE South, Australia, India, Vietnam, Indonesia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe bar for a rate hike in September is relatively high, says Wells Fargo's Jay BrysonJay Bryson, Wells Fargo chief economist, joins 'Squawk on the Street' to discuss whether Bryson still believes the Federal Reserve's tightening has ended, if Powell's comments make the economist believe they're raising their outlook, and doubts around receding inflation.
Persons: Wells Fargo's Jay Bryson Jay Bryson, Wells, Bryson Locations: Wells Fargo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Huntington Private Bank's John Augustine and Wells Fargo's Jay BrysonHuntington Private Bank's John Augustine and Wells Fargo's Jay Bryson join 'The Exchange' to discuss the CPI report and what it means for the markets and economy.
Persons: Huntington Private Bank's John Augustine, Wells Fargo's Jay Bryson Huntington, Bank's John Augustine, Wells Fargo's Jay Bryson Organizations: Huntington Private
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket choppiness continuing is dependent on Fed's next moves: Huntington Private Bank's AugustineHuntington Private Bank's John Augustine and Wells Fargo's Jay Bryson join 'The Exchange' to discuss the CPI report and what it means for the markets and economy.
Persons: Augustine Huntington, Bank's John Augustine, Wells Fargo's Jay Bryson Organizations: Huntington
"Additional tightening may be needed ... but the FOMC does not appear to be pre-committing to another rate hike on June 14." The U.S. dollar index was last 0.12% lower at 101.11, after dropping more than 0.6% in the previous session. "There are a lot of concerns in the U.S. around the banking sector and the crunch on credit. "So I think central banks, including the Fed, are at or very near the peak in their cash rates." The European Central Bank (ECB) comes under the spotlight next, where expectations are for ECB policymakers to raise interest rates for the seventh meeting in a row later on Thursday.
According to a Reuters survey of economists, GDP growth likely increased at a 2.0% annualized rate last quarter after rising at a 2.6% pace in the fourth quarter. Estimates ranged from a growth rate of 0.4% to a 3.3% pace. DOWNSIDE RISKSome institutions cut their GDP growth estimates, with Wells Fargo slashing its forecast by a full percentage point. Still, consumer spending is expected to have grown at a pace faster than the pedestrian 1.0% rate logged in the fourth quarter. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, is expected to be driven by demand for services.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed may stop raising rates, but don't expect rate cuts soon, says Wells Fargo's Jay BrysonJay Bryson, Wells Fargo Securities chief economist, joins "The Exchange" to discuss whether investors should be expecting the end of the Fed's tightening cycle.
Among the choices, the Fed could continue its aggressive rate-hike campaign to cool inflation that is running at triple the central bank’s target of 2%. Warren — already a critic of the Fed’s inflation fight — leveled further blistering criticism of the Republican Fed chief. In addition to achieving price stability and financial stability, the Fed’s broader mandate includes supervision of individual financial institutions, Leer says, and “that’s where the failure lies. “The Fed needs to secure both price stability and financial stability, something that it has failed to so recently,” he told CNN. And this Fed chief inherited an unprecedented economy.
Wells Fargo's Jay Bryson expects a Fed pause in March
  + stars: | 2023-03-13 | 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 EmailWells Fargo's Jay Bryson expects a Fed pause in MarchJay Bryson, Wells Fargo chief economist, joins 'Closing Bell: Overtime' to discuss the Fed's potential next moves and CPI.
Getty ImagesBlack families saw their wealth grow more than that of non-Black households during the pandemic, but the racial wealth gap is still vast, a new study showed. While non-Black families had a much higher starting point at roughly $950,000 just before the onset of the pandemic, their wealth has risen just 21% over the same period, the Wells study showed. Even with the improvement, the racial wealth gap is still staggering: Black Americans' net worth is 70% below that of non-Black households. "This is a step in the right direction, but there's still a lot of progress that needs to be made here." One factor contributing to the slight shrinking in the wealth gap is actually the fact that the assets of Black households are much less diversified.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeacon Economics' Chris Thornberg and Wells Fargo's Jay Bryson debate a soft or hard landingBeacon Economics' Chris Thornberg and Wells Fargo's Jay Bryson join 'The Exchange' to weigh the likelihood of a hard versus a soft landing.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Beacon Economics' Chris Thornberg and Wells Fargo's Jay BrysonBeacon Economics' Chris Thornberg and Wells Fargo's Jay Bryson join 'The Exchange' to weigh the likelihood of a hard versus a soft landing.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI worry about the Fed's previous and upcoming tightening, says Wells Fargo's BrysonJay Bryson, Wells Fargo managing director, and Katerina Simonetti, Morgan Stanley Private Wealth Management, join 'Closing Bell' to discuss their take on where the underlying economy currently sits, how much more tightening the Federal Reserve will have to do and more.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Wells Fargo's Jay Bryson and Morgan Stanley's Katerina SimonettiJay Bryson, Wells Fargo managing director, and Katerina Simonetti, Morgan Stanley Private Wealth Management, join 'Closing Bell' to discuss their respective takes on where the economy sits, how much more tightening the Federal Reserve will have to do and more.
Register now for FREE unlimited access to Reuters.com RegisterA man arranges produce at Best World Supermarket in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. REUTERS/Sarah SilbigerSept 27 (Reuters) - Wells Fargo expects steeper rate hikes by the Federal Reserve due to resiliency of the U.S. economy and the central bank's increased resolve to wring out inflation, the Wall Street bank's economists said in a note on Tuesday. "Our updated forecast for the fed funds rate also reflects the Fed's apparent willingness to do "whatever it takes" to rein in inflation." They expect a U-turn in Fed's policy only towards the end of next year. Register now for FREE unlimited access to Reuters.com RegisterReporting by Bansari Mayur Kamdar and Devik Jain in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Turbulent times may be ahead for Hispanic workers, a new report from Wells Fargo found. The firm expects Latino workers to take an outsized hit if a mild recession happens in 2023, like it is projecting. "The Hispanic unemployment rate tends to rise disproportionately higher than the national average during economic downturns," Wells Fargo chief economist Jay Bryson wrote. For example, from 2006 to 2010, the Hispanic unemployment rate rose about 8 percentage points, while the non-Hispanic jobless rate climbed about 3 percentage points, the firm found. Right now, overall consumer spending is 14% higher than February 2020 and real services spending is up less than 1% during the same time period.
Getty Images / Spencer PlattDear Readers,How prepared would you say you are for a sudden spike in inflation? As it turns out, clients of Morgan Stanley are similarly nonplussed by the prospect of an inflationary shock. But Morgan Stanley says to ignore the threat of an inflation spike at your own risk. The firm qualifies this with another potentially damning observation: People just aren't worried about an inflation spike, nor are they positioned for one. — Mike Wilson, the chief US equity strategist at Morgan Stanley, discussing the potential impact of further US money supply expansion
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