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Top related persons:
Jonathan Pingle - 1 Pingle - 1 CNBC's Joumanna Bercetche - 1 It's - 1 Jerome Powell - 1 Evelyn Hockstein - 1 Arend - 1 You've - 1
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Silicon Washington , U.S U.S Swiss Europe
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UBS - 2 UBS European Conference - 2 Federal Reserve - 2 CNBC - 2 Federal Reserve Bank of New York - 1 Silicon Valley Bank - 1 Wednesday - 1 Fed - 1

Search resuls for: "UBS European Conference"


2 mentions found


☆ We're not headed for another global financial crisis, top UBS economist says after recession warning
  + stars: | 2023-11-15 | by ( Sophie Kiderlin | In | ) www.cnbc.com   time to read: +3 min
U.S. credit card debt soared to $1.08 trillion in the third quarter of 2023, data from the Federal Reserve Bank of New York showed earlier this month. "I don't think we're facing the next GFC [global financial crisis]," he said on the sidelines of the UBS European Conference. Credit tightening does play a role when it comes to the lag of Federal Reserve monetary policy filtering through to the economy, Pingle suggested. The Federal Reserve began hiking interest rates in March 2022 in an effort to ease inflation and cool the economy. "It's great news for the Federal Reserve in their quest to restore price stability," Pingle told CNBC on Wednesday.
Persons: Jonathan Pingle, Pingle, CNBC's Joumanna Bercetche, It's Organizations: UBS, Federal Reserve Bank of New York, UBS European Conference, Silicon Valley Bank, Federal Reserve, CNBC, Wednesday, Fed Locations: Silicon
☆ UBS sees a raft of Fed rate cuts next year on the back of a U.S. recession
  + stars: | 2023-11-14 | by ( Elliot Smith | ) www.cnbc.com   time to read: +4 min
Meanwhile, the bank's economists suggested that "fewer of the supports for growth that enabled 2023 to overcome those obstacles will continue in 2024." Between March 2022 and July 2023, the FOMC enacted a run of 11 rate hikes to take the Fed funds rate from a target range of 0.25-0.5% to 5.25-5.5%. The bank believes this has renewed growth concerns and shows the economy is "not out of the woods yet." watch now"In our view, the private sector looks less insulated from the FOMC's rate hikes next year. Looking ahead, we expect substantially slower growth in 2024, a rising unemployment rate, and meaningful reductions in the federal funds rate, with the target range ending the year between 2.50% and 2.75%."
Persons: Jerome Powell, Evelyn Hockstein, Arend, You've, CNBC's Joumanna Organizations: Federal, Federal Reserve, Reuters UBS, U.S . Federal Reserve, UBS, Labor, CNBC, UBS European Conference Locations: Washington , U.S, U.S, Swiss, Europe
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