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☆ Think corporate greed is the leading cause of inflation? Think again
  + stars: | 2024-05-15 | by ( Matt Egan | ) edition.cnn.com   time to read: +7 min
New York CNN —Some progressives have frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with. That’s corporate greed. That’s corporate greed. Although the paper did not directly mention corporate greed, shrinkflation or Biden, the research undercuts the argument that greedflation drove the early inflation. That report found corporate profits were to blame for 34% of inflation since the start of Covid-19.
Persons: Sen, Elizabeth Warren, ” Warren, “ That’s, It’s, —, ”, Joe Biden, ” Biden, CNN’s Erin Burnett, Biden, – we’re, shrinkflation, greedflation, Jeremy Edwards, ” Edwards, “, –, Greg Valliere, ” Valliere, Jerome Powell, Caroline Ciccone, profiteer Organizations: New, New York CNN, Federal Reserve Bank of San Francisco, Fed, SF Fed, ”, CNN, White, AGF Investments, Federal Reserve, Federal, Federal Reserve Bank of Kansas City Locations: New York, America, Kansas
☆ Why American consumers may finally slow their spending, in charts
  + stars: | 2023-11-26 | by ( Christopher Hickey | ) edition.cnn.com   time to read: +5 min
Some experts think the combination of high housing costs, rising credit card debt and shrinking savings could mean the end of post-Covid splurges, maybe even as soon as this year’s holiday shopping season. Here are the pressures consumers are facing that could cause a spending slowdown. Keeping up with high prices not only has led to more credit card debt, but also more consumers are falling behind on the payments. Since the first quarter of 2022, the rate of newly serious delinquent credit card debt has risen roughly 90%. And that would mean Americans may be forced to finally pull back on their post-Covid spending spree.
Persons: “, ”, Erik Lundh, Freddie Mac, ” Lundh, Lundh, they’ve Organizations: Conference, Intercontinental Exchange, ICE, New York Federal Reserve, Social Security Administration, San Francisco Federal Reserve, SF Fed, New York Fed, Covid Locations: people’s
☆ SF Fed bank's Daly not responsible for SVB failure -former SF Fed chair
  + stars: | 2023-03-24 | by ( Ann Saphir | Thomson Reuters | Reports On The Federal Reserve | ) www.reuters.com   time to read: +2 min
[1/2] An employee holds the door open at the Silicon Valley Bank branch office in downtown San Francisco, California, U.S., March 13, 2023. Supervision of large banks like SVB, which was the 16th biggest U.S. bank at the time of its failure, is a shared responsibility of bank examiners employed by the regional Fed bank and Fed Board staff in Washington. Fed Chair Jerome Powell said this week he wants to identify "what went wrong here". Bank examiners at San Francisco Fed had flagged escalating problems at the Santa Clara-based bank suggesting issues with its ability to meet short-term cash needs like depositor withdrawals. As San Francisco Fed chair, Mehran headed the search committee that hired Daly for the top job at the bank in 2018.
☆ CEO of failed Silicon Valley Bank no longer a director at SF Fed
  + stars: | 2023-03-10 | by ( Michael S. Derby | ) www.reuters.com   time to read: +2 min
March 10 (Reuters) - The chief executive officer of failed Silicon Valley Bank, Greg Becker, is no longer on the board of directors at the Federal Reserve Bank of San Francisco. The spokesperson declined to say how Becker exited the San Francisco Fed board. Becker served as a Class A director at the San Francisco Fed, one of three finance executives representing member banks in the San Francisco Fed district. The 12 regional Federal Reserve banks are quasi-private institutions overseen by the Fed in Washington. The directors of the Fed banks have been in the spotlight in recent years as the central bank has faced criticism that bank directors lacked racial and gender diversity and were too weighted towards the business and banking community.
☆ U.S. financial conditions may tighten further: SF Fed paper
  + stars: | 2023-02-06 | by ( Ann Saphir | ) www.reuters.com   time to read: +1 min
Feb 6 (Reuters) - U.S. stocks may fall further, and bond yields rise, as the Federal Reserve continues its current round of interest-rate hikes in coming months, according to an analysis published Monday by the San Francisco Fed. Financial conditions have already tightened significantly, starting even before the U.S. central bank began raising interest rates last March to fight 40-year-high inflation, as investors anticipated the Fed's actions. Assuming the Fed follows through on its projections from December for the policy rate to go to 5.1% by May and for inflation to fall to 3.1% by then, the Fed will have delivered the sharpest round of policy tightening on record, the San Francisco Fed researchers wrote. Though stock prices historically tend to rise at the tail end of Fed policy tightening cycles, this time may be different, according to the analysis from San Francisco Fed senior research advisor Simon Kwan and research associate Louis Liu. "While the rapid tightening of financial conditions is expected to slow the economy relatively quickly, historical experiences raise the possibility of even more tightening in financial conditions given the large real rate gap that needs to be closed," they wrote.
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