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☆ Fed hawks, doves, and centrists: How US central bankers' views are changing
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +2 min

Now, as Fed policymakers note improvement on inflation and some cooling in the labor market, the risks are seen as more balanced and the choices more nuanced. The following chart offers a look at how officials currently stack up on their outlooks for Fed policy and how to balance their goals of stable prices and full employment. Note: Fed policymakers began raising interest rates in March 2022 to bring down high inflation. Their most recent policy rate hike, to a range of 5.25%-5.50%, was in July. Below is a Reuters count of policymakers in each category, heading into recent Fed meetings.

Persons: Jeff Schmid, Adriana Kugler, Louis Fed, James Bullard, Louis, Kathleen O'Neill Paese, Ann Saphir, Paul Simao Organizations: Federal, Federal Open Market, New York Fed, Kansas City Fed's, Fed's, Governors, Interim, Louis Fed, Thomson Locations: Kansas, St

☆ Insight: Italy is no country for young chefs
▼ + stars: | 2023-11-25 | by ( Antonella Cinelli | ) www.reuters.com time to read: +9 min

For the past year, the 25-year-old has cooked at Piccola Cucina, an Italian restaurant in Manhattan's glitzy SoHo district, home to designer boutiques and high-end art galleries. The current outflow of Italian chefs due to difficult conditions at home is not a new phenomenon. A peep into the kitchens of even the most traditional Italian restaurants shows the local dishes are often prepared by low-paid immigrants. Partly for this reason, young chefs in Italy take home half the salary of their peers in Britain while working longer hours, Mazzei said. British people have become knowledgeable about Italian food, even learning about regional differences, he said, so he preferred to hire Italian chefs to satisfy an increasingly demanding clientele.

Persons: Davide Sanna, Brendan McDermid, Sanna, he'd, It's, Massimo Bottura, Roberto Gentile, Paese, Gentile, Di Marzo, Julio, Francesco Mazzei, Mazzei, Giorgia Meloni's, Francesco Lollobrigida, Antonio Bassu, Bassu, Gavin Jones, Daniel Flynn Organizations: REUTERS, Rights, Star, Michelin, European, European Labour Authority, Reuters, MELONI'S, PRIDE Italian, Thomson Locations: SoHo, New York City, U.S, Sardinia, New York, Italy, Italian, glitzy SoHo, Modena, Spain, Japan, France, Europe, United States, Sicily, ITALY, Le, Toulouse, Britain, Milan, Gaeta, Rome, Naples, Roman, Emilia, Peruvian, Calabria, Italy's, London, Malta, England, Sardinian, Barcelona

☆ Italy is no country for young chefs
▼ + stars: | 2023-11-25 | by ( Antonella Cinelli | ) www.reuters.com time to read: +9 min

Italy's food is famous the world over but many talented young chefs, hoping to make a career in their country, find themselves frustrated by low pay, lack of labour protection and scant prospects. The current outflow of Italian chefs due to difficult conditions at home is not a new phenomenon. A peep into the kitchens of even the most traditional Italian restaurants shows the local dishes are often prepared by low-paid immigrants. Partly for this reason, young chefs in Italy take home half the salary of their peers in Britain while working longer hours, Mazzei said. British people have become knowledgeable about Italian food, even learning about regional differences, he said, so he preferred to hire Italian chefs to satisfy an increasingly demanding clientele.

☆ Powell made a big statement this week after bond yields slid. Here’s why
▼ + stars: | 2023-11-12 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

The swift rise in long-term US Treasury yields over the past few months caused headaches for investors by dragging many of their portfolios down. Bond yields, namely the yield on the 10-year Treasury note, dictate the interest rates on credit cards, mortgages and auto loans. Fed Chair Jerome Powell addressed that at this month’s post-meeting press conference, saying he couldn’t pinpoint exactly why yields rose so much in recent weeks. Hours before Powell’s post-meeting remarks, bond yields plunged following the Treasury Department’s quarterly refunding announcement. That’s as opposed to letting bond yields do the Fed’s work for it.

Persons: Jerome Powell, “, Powell, Kathleen O’Neill Paese, Louis Fed, ”, Powell’s, Wall, John Madziyire, Joe Kalish, Ned Davis, Kalish, ” Powell, Celal, That’s Organizations: New, New York CNN, Federal Reserve, Treasury, Fed, Vanguard, Ned, Ned Davis Research, CNN, ” Bank of America, International Monetary Fund, Getty, Bank of America Locations: New York, Washington ,, Anadolu

At the same time, in a panel discussion at the International Monetary Fund, Powell did not rule out another rate hike to help reduce inflation to the Fed's 2% target level. “We are not confident," he said, that the Fed’s benchmark rate is high enough to steadily reduce inflation to its 2% target. Political Cartoons View All 1237 ImagesPowell said that "if it becomes appropriate” to raise rates further, “we will not hesitate to do so” but said that for now it isn’t ”appropriate” to increase the Fed's benchmark rate. The central bank's benchmark short-term rate, now about 5.4%, is at its highest level in 22 years. O’Neill Paese said “it would be unwise to suggest that further rate hikes are off the table.”But she added that the Fed’s benchmark rate is “exerting modest downward pressure on inflation,” so officials “can afford to await further data before concluding” that more rate hikes might be needed.

Persons: Jerome Powell, Powell, ”, Powell’s, Tom Barkin, ” Barkin, ” Kathleen O’Neill Paese, Louis, O’Neill Paese Organizations: WASHINGTON, —, International Monetary Fund, Fed, Federal Reserve Bank of Richmond, Federal Reserve Bank of St Locations: United States

☆ Morning Bid: Oil and bond yields try to find toehold
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +4 min

The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. The supply picture for U.S. crude, which is now down more than 20% from late September's peaks, has also weighed on energy prices. Crude inventories increased by 11.9 million barrels over the week to Nov. 3, sources said, citing American Petroleum Institute figures. With senior Fed officials on Wednesday side-stepping guidance on the central bank's next policy steps, attention focuses squarely on Powell's latest speech. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Carlo Allegri, Mike Dolan, Jerome Powell's, Powell, Jerome Powell, Thomas Barkin, Raphael Bostic, Kathleen O'Neill Paese, Christine Lagarde, Janet Yellen, Becton Dickinson, Emelia Sithole Organizations: New York Stock, REUTERS, Federal, American Petroleum Institute, Walt Disney, ABC, Warner Bros Discovery, Richmond Fed, Atlanta Fed, Louis Interim, European Central Bank, . Treasury, News Corp, Wynn Resorts, U.S, Treasury, Thomson, Reuters Locations: Manhattan, New York City , New York, U.S, Europe, Shanghai, Hong Kong, Washington, St, Brussels, Mettler, Toledo, TransDigm

☆ Climate protesters interrupt speech by Fed Chair Powell — for the second time in a month
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Federal Reserve Chair Jerome Powell is leaving the door open for additional interest rate hikes to defeat inflation, he said Thursday in prepared remarks. However, investors are bullish about another pause in rate hikes next month, according to fed funds rate futures. As Powell began to deliver his speech, he was interrupted by climate protesters who made their way onto the stage. That could potentially be a headache for the Fed, since strong demand could be maintaining some upward pressure on prices. Richmond Fed President Thomas Barkin hinted that the Fed could forgo additional action because the economy perhaps hasn’t felt the full impact of the Fed’s previous 11 rate hikes just yet.

Persons: Jerome Powell, “, ” Powell, Powell, Stocks, Dow, Kathleen O’Neill Paese, Thomas Barkin, hasn’t, ” Barkin, — CNN’s Krystal Hur Organizations: DC CNN — Federal, International Monetary Fund, Economic, of New, Nasdaq, Treasury, Interim Kansas, Richmond Fed Locations: Washington, Washington ,, of New York, Jeffersonville , Indiana, New Orleans

☆ Morning Bid: Bond steamroller flattens all
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +5 min

Banknotes of Japanese yen and U.S. dollar are seen in this illustration picture taken September 23, 2022. That's all on top of the ongoing rethink of the Fed's long-term rate horizon and increasingly high-pressure economy. Hit from all sides, the Treasury market is simply in ructions - catalysed perhaps by technical, speculative and positioning factors too. Ten-year yields hit a whopping 4.88% early on Wednesday - an increase of 80 basis points in little over a month. And implied volatility in the bond market (.MOVE) hit its highest since May.

Persons: Florence Lo, Mike Dolan, Kevin McCarthy, Michelle Bowman, Austan Goolsbee, Jeffrey Schmid, St, Louis Fed, Kathleen O'Neill Paese, Mehmet Simsek, Bernadette Baum Organizations: U.S, REUTERS, Congress, riven, Federal Reserve, Bank of, Treasury, Nasdaq, Reserve Bank of New, P Global, U.S . Federal Reserve, Chicago Fed, Kansas City Fed, Turkish, Thomson, Reuters Locations: U.S, Washington, Asia, Europe, Reserve Bank of New Zealand, Kansas, London

☆ Morning Bid: Spiky quarter ends in uneasy market calm
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. At 4.53% on Friday, the 10-year benchmark was some 15 basis points off Thursday's peak and two-year yields fell back to their lowest since Sept. 18. Some optimism from Beijing about a possible year-end summit between President Xi Jinping and U.S. President Joe Biden helped. Key developments that should provide more direction to U.S. markets later on Friday:* US August PCE inflation gauge, personal income and spending. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Brendan McDermid, Mike Dolan, Thursday's, Xi Jinping, Joe Biden, Lifeng, Federal Reserve's, Jerome Powell, Thomas Barkin, it's, Kathleen O'Neill Paese, John Williams, Toby Chopra Organizations: New York Stock Exchange, REUTERS, Treasury, Organization of, Petroleum, Wall Street Journal, Federal, Fed, Richmond Fed, Nike, HK, Reuters, Mercedes, Benz, Chicago, University of, Louis Federal Reserve, New York Fed, U.S, Reuters Graphics Reuters, Reuters Graphics, Thomson Locations: New York City, U.S, Beijing, China, Washington, Hong Kong, Nio

☆ The airline lost his bags. He crossed the Atlantic to find them
▼ + stars: | 2023-08-17 | by ( Julia Buckley | ) edition.cnn.com time to read: +12 min

Flying over, they had a 90-minute layover in London, which should have been enough – British Airways recommends an hour between flights. Plenty of travelers these days are packing tracking devices into their bags, meaning that they can see where their “lost” bags are when airlines drop the ball. Each day, buying clothes and toiletries when needed, the family logged into British Airways’ lost luggage system to see where their bags were. Searching for her own lost bags in Florence airport, she had seen theirs and, after noting details on the tags, wanted Bunce to know they were there. The British Airways system still told them that the bags had not been traced, but now they had a lead.

Persons: Brett Bunce, Bunce, Gwyn, Carolina, Bel Paese, she’d, Sandra Shuster, “, ”, Anne Johnson, Tim Clayton, Corbis, it’ll, ” Keen, He’d, you’d, he'd, Brett Bunce Bunce, – they’d, “ I’m, Aleandro, you’re Organizations: CNN —, British Airways, London Heathrow, United Airlines, Baltimore, Staff, Getty, American Airlines, Florence Peretola Airport, ”, CNN, FedEx Locations: Italy, Florence, Miami, London, Rome, Naples, Heathrow, Denver, Chicago, Colorado, Carolina, we’d, cobblestones

☆ James Bullard, president of St. Louis Fed, to step down
▼ + stars: | 2023-07-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —St. Louis Federal Reserve President James Bullard announced Thursday he is stepping down from his position in mid-August. “It has been both a privilege and an honor to be part of the St. Louis Fed for the last 33 years, including serving as its president for the last 15 years,” Bullard said in a statement released Thursday afternoon. With the exception of the president of New York Fed, four regional bank presidents from the remaining 11 branches serve one-year terms on the Federal Open Market Committee on a rotating basis. Kathleen O’Neill Paese, the St. Louis Fed’s first vice president and chief operating officer, was confirmed Thursday by the bank’s board and assumed Bullard’s duties “immediately” in the interim, according to the statement. The St. Louis Fed said it is hiring “a national executive search firm” to help identify Bullard’s permanent successor.

Persons: James Bullard, Louis Fed, ” Bullard, Bullard, Purdue University’s Mitchell E, Daniels, Jr, Jerome Powell, won’t, Kathleen O’Neill Paese, Louis Fed’s, “, Bullard’s Organizations: New, New York CNN, Louis Federal Reserve, Purdue, School of Business, Fed, New York Fed, Federal, Seven, Governor Locations: New York, St

He said in the statement released by the St. Louis Fed that the regional bank "is well-positioned for ongoing success and impact." The St. Louis Fed said Kathleen O'Neill Paese, the regional bank's first vice president and chief operating officer, will act as interim president. The regional bank said its search committee will look nationally for a new leader, noting that its search will be "robust, transparent, fair and inclusive." While they operate under the oversight of the Board of Governors in Washington, regional Fed banks are quasi-private institutions technically owned by member banks. With Bullard's exit, there will be two unfilled regional Fed bank slots.

Persons: James Bullard, Bullard, Louis Fed, Mitchell, Daniels, Jr, doesn't, Tim Duy, Duy, Derek Tang, LH Meyers, Wrightson ICAP, Kathleen Bostjancic, Kathleen O'Neill Paese, Louis Fed's, Esther George, Michael S, Ann Saphir, Chizu Nomiyama, Paul Simao Organizations: Louis Federal Reserve, U.S, Purdue, St, School of Business, Federal, Macro, Fed, Purdue University, Minneapolis Fed, Nationwide, Brookings Institution, Governors, Kansas City Fed, Derby, Thomson Locations: Indiana, St, Washington

☆ The German couple who moved to Italy and opened a pizza restaurant
▼ + stars: | 2023-05-18 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +8 min

CNN —Living la dolce vita in Italy isn’t just about snatching a cheap dwelling in a charming rural village. Making pizza in Italy and satisfying Italian palates is not the simplest of missions. Only one other place to eat is open year-round – a restaurant serving regional dishes but no pizza. Marco MolinariPaying homage to her Germanic origins she makes pizza with sauerkraut, sausages and veal shin, with tomato salad, pizza kebabs, pizza with goat cheese and pizza with salmon – the latter being the most wanted by clients. There’s Pizza Irene with mozzarella, gorgonzola, arugula and mushrooms.

☆ Сегодня исполняется 546 лет победе Штефана Великого при Васлуе
▼ + stars: | 2021-01-10 | by ( Mld Media Srl | ) noi.md time to read: +2 min

Сегодня, 10 января, исполняется 546 лет Битве у Васлуя (10.01.1475), в которой Штефан Великий одержал блистательную победу над турецким войском. Целью кампании были захват Молдовы и замена Штефана III другим господарем, послушным туркам. Штефан III, располагая 40 000 воинов, поддержанных несколькими тысячами секуев, венгров и поляков, использовал тактику изматывания, ослабления противника. Штефан III выбрал полем битвы долину реки Бырлад, к югу от Васлуя. После этой громкой победы Штефан III Великий не позволяет себе почивать на лаврах.

Persons: . III, . . . III, ., . – ., III, . I, . III ., . ., –, . . ., Stephanus, Васлуй, Штефан Великий, Штефан, Мурад, Штефан Великий Locations: Moldavia, Солиманпаша, Молдова, Сучаве, Бырлад, Васлуй, Европа

☆ Молодые люди принесли цветы к памятнику Штефану Великому в центре столицы (ФОТО)
▼ + stars: | 2021-01-10 | by ( Mld Media Srl | ) noi.md time to read: +2 min

По этому поводу члены молодежного движения «Потомки Штефана» и «Воевод» пришли в центр столицы, чтобы возложить цветы к памятнику великому господарю Молдовы. Целью кампании были захват Молдовы и замена Штефана III другим господарем, послушным туркам. Штефан III, располагая 40 000 воинов, поддержанных несколькими тысячами секуев, венгров и поляков, использовал тактику изматывания, ослабления противника. Штефан III выбрал полем битвы долину реки Бырлад, к югу от Васлуя. После этой громкой победы Штефан III Великий не позволяет себе почивать на лаврах.

Persons: . III, . . . III, ., . – ., III, . I, . III ., . ., –, . . ., Stephanus, Васлуй, Штефан Великий, Штефан, Мурад, Штефан Великий Organizations: Воевод Locations: Moldavia, Молдова, Солиманпаша, Сучаве, Бырлад, Васлуй, Европа

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