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☆ Why Higher Fed Rates Are Not Totally Off the Table
▼ + stars: | 2024-05-09 | by ( Jeanna Smialek | ) www.nytimes.com time to read: +1 min

Investors do not expect the Federal Reserve to raise interest rates again, and officials have made it clear that they see further increases as unlikely. But one important takeaway from recent Fed commentary is that unlikely and inconceivable are not the same thing. After the central bank held rates steady at 5.3 percent last week, the Fed’s chair, Jerome H. Powell, delivered a news conference where what he didn’t say mattered. Asked whether officials might raise interest rates again, he said he thought they probably would not — but he also avoided fully ruling out the possibility. And when asked, twice, whether he thought rates were high enough to bring inflation fully under control, he twice tiptoed around the question.

Persons: Jerome H, Powell, Mr, ” Organizations: Federal Reserve

☆ The Fed's big miss on inflation has doomed the US to recession this year, top economist says
▼ + stars: | 2024-01-22 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "Monetary policy now is as tight as it has ever been on the precipice of a recession," he said, barring an exception in 1984. The problem is that the Fed badly misread how long high inflation would linger, prompting it to raise rates much more aggressively than needed. In December, the core inflation print notched an annual 3.2% increase. "In 2019 when they missed by a mere 30 basis points it was enough to get a 75-basis-point mid-cycle adjustment."

Persons: —, Brevan Howard, Sully, Jason Cummins, Bloomberg's, Cummins, They've Organizations: Service, Business, Fed

☆ Dollar struggles to retain gains even as March rate cut odds recede
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +3 min

Japan's yen was the notable mover in otherwise quiet trading, as it tiptoed away from Friday's one-month low of 148.80. San Francisco Federal Reserve Bank President Mary Daly on Friday said she believes the U.S. economy and monetary policy are in a "good place" and it is premature to think rate cuts are imminent. Short-term interest rate futures market show traders are betting interest rate cuts will start in May, with the probability of a March cut dropping below 50%, down from near 80% in the first weeks of January, according to CME Group data. "The USD holds a fair relationship with the evolving implied pricing for a March Fed cut, where rate cut probability falls the USD rallies, and vice versa," he wrote. Much of the gains have come from investor bets on Fed rate cuts.

Persons: dovish, Mary Daly, Chris Weston, Pepperstone Organizations: U.S, of Japan's, Federal Reserve, San Francisco Federal Reserve Bank, Group, NatWest Markets, European Central Bank, ECB Locations: Japan, Europe, U.S

Image A watch party for Mr. Trump in Des Moines on Monday night. Credit... Haiyun Jiang for The New York TimesInstead, if Mr. Trump wins next week’s New Hampshire primary, a march to a third nomination is all but certain. Some in the news media were reluctant to direct their audiences to Mr. Trump, especially shortly after he left office, for fear that it would only amplify his lies about his election loss. Since 2016, both Republican and Democratic leaders have often agreed that it helps Democrats to have Mr. Trump at the political fore. Mr. Biden has signaled his plans to highlight Mr. Trump’s efforts to subvert his loss in the 2020 election, invoking the attack on the Capitol and Mr. Trump’s revisionist history of what happened.

Persons: Donald J, Trump, codifying, —, he’d, Haiyun Jiang, ”, David Axelrod, Barack Obama, “, victimhood, Mr, Trump’s, Axelrod, Biden, Maansi Srivastava, Liam Donovan Organizations: Fox News, Republican, Trump, Republican Party, The New York, Democratic, Republicans, New, New York Times Democrats, Capitol, Washington Post, University of Maryland Locations: New York, Iowa, Florida, Des Moines, Hampshire, Clive , Iowa, New Hampshire, Washington, mattering

ARLINGTON, Texas (AP) — Quinn Ewers and the Texas Longhorns are leaving the Big 12 with bookend championships and still hoping for a chance at the College Football Playoff. Longhorns fans heartily booed and chanted “S-E-C!, S-E-C!” while Big 12 Commissioner Brett Yormark addressed the crowd before presenting the championship trophy to Ewers. It was the fourth Big 12 title for the Longhorns (12-1, No. 18 CFP) had won seven of eight games to get to its second Big 12 title game in three years. Murphy and Manning both took snaps on the final drive for Texas over the final 6 1/2 minutes against Oklahoma State.

Persons: — Quinn Ewers, “, Brett Yormark, Ewers, T’Vondre, Everybody’s, Steve Sarkisian, Sarkisian, ” Yormark, Keilan Robinson, it’s, Ollie Gordon II, CJ Baxter's, Alan Bowman, Rashod Owens, Gordon, Adonai Mitchell, Ja'Tavion Sanders, Mitchell, Sanders, Maalik Murphy, Arch Manning, Murphy, Manning, Bert Auburn's Big, ___ Organizations: Texas Longhorns, Big, College Football, Texas, Oklahoma State, Longhorns, Texas Tech, SEC, CFP, Alabama, Cowboys, Outland, WWE, T, Dallas Cowboys, AP Locations: ARLINGTON , Texas, Texas, Yormark, Oklahoma, Michigan, Ewers

☆ Here’s how much you need to make to afford a home in America
▼ + stars: | 2023-11-13 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

“First-time buyers tiptoed back into the market this year with less competition and fewer multiple-offer scenarios,” said Lautz. The age of the typical repeat buyer also dropped slightly to 58 from an all-time high of 59 last year. In comparison, the typical downpayment for repeat buyers was 19%, which is the highest share since 2005, when the typical downpayment was 21%. First-time buyers increased their reliance on financial assets this year, which grew to 24% from 20% last year. Of recent homebuyers, 7% were Latino, 7% were Black, 6% were Asian or Pacific Islander and 6% identified as some other race.

Persons: ”, Jessica Lautz, today’s, homebuyers, downpayment, Homebuyers, “ Organizations: DC CNN, National Association of Realtors, Census Locations: Washington, United, United States

☆ Hong Kong finance summit tiptoes around China
▼ + stars: | 2023-11-09 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +7 min

HONG KONG, Nov 9 (Reuters Breakingviews) - Hong Kong in November enjoys a pleasant climate that some local managers dub “chairman weather”. Hong Kong is hardly a hot destination for financiers right now. Companies raised just $2.7 billion from initial public offerings in Hong Kong in the quarter, a fraction of previous years. Hong Kong officials including John Lee, the territory’s chief executive, have been sanctioned by the U.S.. Follow @peter_tl on XCONTEXT NEWSThe Global Financial Leaders’ Summit was held in Hong Kong from Nov. 6 to Nov. 8.

Persons: Marc Rowan, Colm Kelleher, Morgan Stanley, Goldman Sachs, David Solomon, Jane Fraser, Ken Griffin, Hong, John Lee, Eddie Yue, Kung, Zhang Qingsong, Bob Prince, Mark Wiedman, Apollo’s Rowan, UBS’s Kelleher, Joseph Yam, Una Galani, Thomas Shum Organizations: Reuters, Apollo Global Management, UBS, Monetary Fund, Companies, Citigroup, Citadel, Hong Kong Monetary Authority, Hong Kong’s HK, Exchange, People’s Bank of China, Bridgewater Associates, BlackRock, Goldman, Bank for International, Global, ’, Thomson Locations: HONG KONG, Hong Kong, Europe, U.S, China . Hong Kong, China, People’s Republic, Hong, British, Singapore, BLK.N, ”

The U.S. State Department considers Tamaulipas, where the two cities are located, to be the most dangerous state along the U.S.-Mexico border. Tens of thousands of people a day are competing for 1,450 slots, according to U.S. Customs and Border Protection (CBP). U.S. authorities temporarily suspended CBP One appointments in June in another Tamaulipas border city, Nuevo Laredo, due to "extortion and kidnapping concerns," the official said. Juan Rodriguez, head of the Tamaulipas migrant services agency, said the agency was "attentive" to the issue. Additional reporting by Jackie Botts in Mexico City, Daniel Becerril in Reynosa and Matamoros, and Kristina Cooke in San Francisco.

Persons: Wong, Luis Miranda, Joe Biden's, Biden, Bertha Bermúdez Tapia, Miranda, Olivia Lemus, Lemus, Juan Rodriguez, Laura Gottesdiener, Ted Hesson, Mica Rosenberg, Beth Solomon, Jackie Botts, Daniel Becerril, Kristina Cooke, Mary Milliken, Suzanne Goldenberg Organizations: REUTERS, Reuters, U.S . Department of Homeland Security, U.S . State Department, New Mexico State University, Gulf Cartel, Northeast, U.S . Customs, Border Protection, CBP, DHS, Biden, The U.S . State Department, Carolina, Thomson Locations: U.S, Mexico, New Jersey, REYNOSA, Mexican, Reynosa, Venezuela, Carolina, Matamoros, Tamaulipas, United States, Washington, Nuevo Laredo, Central, Northern Mexico, Chicago, The, Honduran, Venezuelan, New York City, Mexico City, San Francisco

☆ Dollar at 10-month top as US yields spike; yen slides
▼ + stars: | 2023-09-26 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

U.S. Dollar banknote is seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSINGAPORE, Sept 26 (Reuters) - The dollar stood by 10-month highs against a basket of major currencies on Tuesday, supported by U.S. bond yields scaling 16-year peaks, while the yen tiptoed deeper into the intervention danger zone. "Few currencies will resist the bullish dollar macro resiliency theme and the euro and Chinese yuan look more vulnerable than most." The yen has slowly but inexorably slid toward the 150-per-dollar mark as policymakers stuck with ultra-easy settings. The yen hit 148.97 to the dollar on Monday and last traded at 148.72.

Persons: Dado Ruvic, Sterling, Jane Foley, Tom Westbrook, Jamie Freed Organizations: REUTERS, Rights, Treasury, U.S, Australia's Westpac, Swiss, Traders, Bank of Japan, Thomson Locations: Rights SINGAPORE, Europe, Asia, U.S, Tokyo

☆ Dollar at 10-month top as U.S. yields spike, yen slides
▼ + stars: | 2023-09-26 | by ( ) www.cnbc.com time to read: +3 min

The dollar stood by 10-month highs against a basket of major currencies on Tuesday, supported by U.S. bond yields scaling 16-year peaks, while the yen tiptoed deeper into the intervention danger zone. "Few currencies will resist the bullish dollar macro resiliency theme and the euro and Chinese yuan look more vulnerable than most." The yen has slowly but inexorably slid toward the 150-per-dollar mark as policymakers stuck with ultra-easy settings. The yen hit 148.97 to the dollar on Monday and last traded at 148.72. "We remain of the view that the dollar is unlikely to weaken significantly until Fed rate cuts are firmly on the horizon," she said.

Persons: Sterling, Jane Foley Organizations: Treasury, U.S, Australia's Westpac, Swiss, Traders, Bank of Japan Locations: Europe, Asia, U.S

☆ When John Roberts wants things done, he acts. What that means for ethics rules
▼ + stars: | 2023-09-01 | by ( Joan Biskupic | ) edition.cnn.com time to read: +6 min

Before he became a US appeals court judge in 2003 and a Supreme Court justice in 2005, he was a star appellate advocate at the high court. There may also be limits to the personal capital Roberts wants to put toward a dilemma that lies beyond the consideration of cases. Unlike with judicial pay, which naturally generated support among black-robed colleagues, the ethics issue has defied consensus in Roberts’ ranks. No provision in the Constitution gives them the authority to regulate the Supreme Court – period.”Last month in Portland, Oregon, Kagan also referred to internal differences. “It’s not a secret for me to say that we have been discussing it,” she said, referring to a formal set of ethics rules.

Persons: CNN —, John Roberts, Roberts, George W, Bush, ” Roberts, Clarence Thomas, Harlan Crow, Thomas, Crow, Thomas ’, Samuel Alito, “, Brett Kavanaugh, Elena Kagan, ”, Roberts ’, Alito, Kagan, It’s Organizations: CNN, White House, ”, Dallas, Democratic, Senate, Republicans Locations: United States, Texas, Adirondacks, Savannah , Georgia, America, Washington , DC, Portland , Oregon

☆ Knives out for Vivek as the newcomer steals the show from DeSantis in Trump's absence: 5 takeaways from the first Republican presidential debate
▼ + stars: | 2023-08-24 | by ( Madison Hall | Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

Donald Trump's absence led to a night of barbs between the remaining GOP presidential hopefuls. The first presidential debate of this cycle was dominated by attacks on Vivek Ramaswamy. Despite getting attacked on all sides by his fellow candidates, Ramaswamy largely held his own on stage Wednesday, drawing large rounds of applause from the crowd throughout the night. Former President Donald Trump said he felt no need to attend a debate while he holds a double-digit national lead. Namely, DeSantis refused to say if he'd support a federal 6-week abortion policy, simply saying ""I'm gonna stand on the side of life."

Persons: Donald Trump's, Vivek Ramaswamy, Ron DeSantis, Donald Trump, DeSantis, Ramaswamy, Chris Christie, I've, Christie, Christie wasn't, Pence, Haley, Trump, he's, Mike Pence, Asa Hutchinson, Bret Baier, who's, Roe, Wade, enshrine Roe, Nikki —, Martha MacCallum, MacCallum, Baier Organizations: Florida Gov, Service, New Jersey Gov, Trump, Republican, Fox News, GOP, Republicans, Roe Republicans, UN Locations: Florida, Wall, Silicon, America, New Jersey, Arkansas, Hawaii, midterms, Ohio

☆ 'Real' meat maker Cargill may emerge big winner in plant-based food as buzzy startup boom fades
▼ + stars: | 2023-06-17 | by ( Bob Woods | ) www.cnbc.com time to read: +12 min

Additionally, Cargill began marketing several plant-based protein ingredients, made from soy, pea and wheat, to food and beverage manufacturers worldwide. What to expect for plant-based meat in next decade Cargill's calculated approach to plant-based meats coincides with the nascent industry's trajectory. And then there's the consumer's appetite to pay a premium price for plant-based meat. So Cargill's biggest competition will be the established plant-based meat companies, like Beyond and Impossible, he said. The future of plant-based meat might be analogous to the ongoing transition to electric vehicles.

Persons: Florian Schattenmann, Cargill Cargill, Cargill, Schattenmann, it's, John Baumgartner, Baumgartner, Caroline Bushnell, Bushnell, that's, Seth Goldstein, Goldstein, Tyson's Organizations: Cargill, Foods, Tyson Foods, Hormel Foods, Smithfield Foods, Cargill Inc, The, Bloomberg, Getty, Foods Cargill, Mizuho Securities USA, Good Food Institute, Cubiq Foods, FDA, North, Food and Drug Administration, Morningstar Research Services, Nielsen, annualized Nielsen, Nestle, Tesla, tiptoed, Ford, GM, Hyundai, Volkswagen Locations: U.S, Minneapolis, Montreal, Quebec, Canada, Spanish, Berkeley , California, Puris, North American, Netherlands, Bflike, Belgian, North America

☆ PacWest rallies on dividend cut to bolster capital
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +3 min

May 8 (Reuters) - Shares of PacWest Bancorp (PACW.O) jumped 39% in premarket trading on Monday and led a recovery in the battered U.S. banking sector after the lender sharply cut its quarterly dividend to shore up its finances. "Given the extreme volatility in the stock recently ... we believe this dividend reduction makes sense and can help the pace of capital building," RBC Capital Markets analysts wrote in a note. PacWest shares, which soared nearly 82% in their last trading session, were currently trading at $7.96. U.S. federal and state officials are assessing whether "market manipulation" caused the recent volatility in banking shares, Reuters reported on Thursday, citing a source familiar with the matter. Billionaire Warren Buffett, whose views are closely watched by investors, said on Saturday his conglomerate Berkshire Hathaway (BRKa.N) was cautious around the banking sector.

☆ Crypto exchange Coinbase posts smaller first-quarter loss
▼ + stars: | 2023-05-04 | by ( ) www.reuters.com time to read: +1 min

May 4 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) posted a smaller-than-expected first-quarter loss on Thursday after investors tiptoed back to the strained asset class to hedge their bets against a worsening economic backdrop. The San Francisco-based company's net loss narrowed to $78.9 million in the three months ended March, from $429.7 million in the year-ago quarter. On a per share basis, the company reported a loss of 34 cents a share, while analysts estimated a loss of $1.35 a share, sending its shares up nearly 7% in extended trading. Coinbase's shares, which lost 85% in 2022, rose nearly 40% this year up to Thursday's close as cryptocurrencies gain some ground. "This is the fourth crypto cycle that Coinbase has been through and we've emerged stronger after each one," Chief Executive Officer Brian Armstrong said.

☆ From black to green: How an oil-and-gas company pivoted to embrace wind energy — and is now raking in billions
▼ + stars: | 2023-04-13 | by ( Freya Graham | ) www.businessinsider.com time to read: +11 min

Like Sykes, it made a transition from black to green — and in doing so, it demonstrated it's possible for big energy companies to pivot to clean energy. To limit the influence of climate change, those emissions need to rapidly decrease — which means that big energy companies need to change their operations. A 2022 study found that 51% of the world's biggest publicly listed energy companies had not set out a strategy to reduce their emissions. Shell, for example, says it has about 50 gigawatts of renewable energy in operation, under construction, or in development. "If we could do the energy transition without them, I wouldn't be doing this," van Baal added.

☆ Dollar languishes as bank crisis fears ebb on Credit Suisse rescue
▼ + stars: | 2023-03-21 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, March 21 (Reuters) - The dollar regained some ground on Tuesday but was pinned near a five-week low as traders tiptoed back into riskier assets after UBS' state-backed takeover of Credit Suisse allayed some fears of a widespread, systemic banking crisis. "There has been pretty modest demand for U.S. dollars at the Fed swap lines, so that is a positive sign in and of itself," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (CBA). The dollar slipped 0.12% to 131.15 against the Japanese yen , while the U.S. dollar index , which measures the greenback against a basket of currencies, fell 0.04% to 103.30. Lower U.S. rate expectations also added to downward pressure on the dollar ahead of the Fed's two-day policy meeting commencing later on Tuesday. The Reserve Bank of New Zealand said on Tuesday it saw no immediate need to request the reinstatement of a U.S. dollar swap line that expired in 2021.

Gretchen Whitmer defeated Republican challenger Tudor Dixon on Tuesday, securing her bid for re-election and keeping a Democrat atop the critical swing state, NBC News projects. But Whitmer held on, boosted by tens of millions of dollars in ad spending that Dixon, a former right-wing commentator endorsed by former President Donald Trump, never matched. Whitmer and Lt. Gov. Whitmer, who made the shortlist as Joe Biden searched for a running mate in 2020, has been the subject of future White House speculation. Despite Michigan's swing-state status, Republicans were slow to invest there and never caught up with the other side's spending.

☆ COP27 climate summit: Here's what to watch
▼ + stars: | 2022-11-06 | by ( Ella Nilsen | ) edition.cnn.com time to read: +9 min

Given countries’ current promises, Earth’s temperature will climb to between 2.1 and 2.9 degrees Celsius by 2100. “No country has a right to be delinquent,” US Climate Envoy John Kerry told reporters in October. It is likely loss and damage will have space on the official COP27 agenda this year. And US officials often stress they want to also unlock private investments to help countries transition to renewables and deal with climate effects. Getty ImagesCOP27 is intended to hold countries’ feet to the fire on fossil fuel emissions and gin up new ambition on the climate crisis.

☆ Democratic divide in Florida: DeSantis challenger to rally with Biden, but Senate candidate won't
▼ + stars: | 2022-09-22 | by ( Marc Caputo | Natasha Korecki | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +6 min

MIAMI — President Joe Biden is coming to Florida next week to campaign with Charlie Crist as he tries to unseat Gov. But Democratic Senate candidate Val Demings won’t be there Tuesday to meet the president in her hometown, Orlando. In Florida, Crist has a tougher race on his hands than Demings. A Suffolk University poll, conducted for USA Today and released Wednesday, drove home the differences between the two Florida Democrats. President Biden knows that, which is why he is coming and why I’m proud to welcome him.”NBC News has asked the White House for comment.

By not following my friends' advice, I avoided a lot of losses on things like meme coins. I did a lot of research firstA lot of my friends rushed to buy meme coins — like dogecoin or shiba inu — when they went viral in both the news and on crypto forums in 2020. Since I'm new to this, I couldn't justify the risk of buying these meme coins since I didn't know much about them or what their purpose was. If I listened to my friends, I'd only be able to make gains from buying cryptocurrency. Some of my friends have been buying crypto for more than five years, and others have been buying coins since early 2020.

☆ Trump tells Proud Boys to 'stand by' after being asked to condemn white supremacists in presidential debate
▼ + stars: | 2020-09-30 | by ( Oma Seddiq | Jake Lahut | ) www.businessinsider.com time to read: +2 min

President Donald Trump hesitated to condemn white supremacists during the first presidential debate. "Proud Boys, stand back and stand by," Trump said on Tuesday evening after being pressed by former Vice President Joe Biden. During a segment dedicated to race, Chris Wallace, the moderator, asked Trump, "Are you willing, tonight, to condemn white supremacists and militia groups and to say that they need to stand down?" Trump asked. "Proud Boys, stand back and stand by," Trump responded.

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