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Compounding worries that this would lead to a more hawkish central bank, Federal Reserve Bank of Dallas President Lorie Logan said on Thursday that a continued above-target inflation outlook and a stronger-than-expected labor market "calls for more-restrictive monetary policy." U.S. Treasury yields climbed after the labor market data boosted expectations for aggressive Fed rate hikes to rein in stubbornly high inflation. Emerging market stocks (.MSCIEF) lost 1.88%. In Treasuries 2-year Treasury yields rose above 5% for the first time since early March and touched their highest levels since June 2007. In currencies, the dollar index fell 0.048%, with the euro up 0.13% at $1.0865.

Persons: Lorie Logan, Alex Coffey, Coffey, Sterling, Janet Yellen, Matt Simpson, Brent, Sinéad Carew, Marc Jones, Clarence Fernandez, Hugh Lawson, Richard Chang Organizations: ADP, The Labor Department, Federal Reserve Bank, Dallas, Treasury, U.S, Dow Jones, Nasdaq, Japan's Nikkei, Reuters Graphics Reuters Graphics CHIPPING, Reuters, Thomson Locations: U.S, Asia, Pacific, Japan, United States, Europe, China, Beijing, New York, London

☆ Fed's Logan says more rate hikes needed amid unexpected economic strength
▼ + stars: | 2023-07-06 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Logan is a voting member of the rate-setting Federal Open Market Committee this year. Officials were still worried about inflation and flagged a still strong job market, while a minority of policymakers expressed interest in raising rates at the June meeting. Logan also said that she doesn’t see anything tied to the Fed’s balance sheet drawdown affecting the Fed’s rate choices right now, and said the Treasury’s work to rebuild its cash account is unlikely to hit bank reserves, with the cash instead drawn from the Fed's reverse repo facility. Logan said after her formal remarks that she was surprised markets expect a sooner end to the balance sheet drawdown than she bets is likely. Reporting by Michael S. Derby Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Lorie Logan, ’, ” Logan, ”, Logan, Jerome Powell, John Williams, it’s, “, Michael S, Nick Zieminski Organizations: YORK, Federal Reserve Bank, Dallas, Columbia University, , New York Fed, Fed, Thomson Locations: ,

☆ The economy is not slowing as much as people think, says former Fed President Robert Kaplan
▼ + stars: | 2023-06-26 | 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 EmailThe economy is not slowing as much as people think, says former Fed President Robert KaplanRobert Kaplan, former president of the Federal Reserve Bank of Dallas, joins ‘Squawk on the Street’ to discuss the Fed’s next move, the state of the current economy, and more.

Persons: Robert Kaplan Robert Kaplan, Squawk Organizations: Federal Reserve Bank of Dallas

☆ The Fed should take a hawkish pause in June meeting, says fmr. Fed President Robert Kaplan
▼ + stars: | 2023-06-07 | 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 EmailThe Fed should take a hawkish pause in June meeting, says fmr. Fed President Robert KaplanRobert Kaplan, fmr. president of the Federal Reserve Bank of Dallas, joins 'Power Lunch' to discuss the Fed's next move and banks cautiousness.

Persons: fmr, Robert Kaplan Robert Kaplan Organizations: Federal Reserve Bank of Dallas

☆ Federal Reserve officials are growing skeptical over suspending rate hikes
▼ + stars: | 2023-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Some officials are concerned inflation isn’t cooling fast enough, which could prompt an 11th consecutive rate hike when policymakers meet in June. Federal Reserve Board Chair Jerome Powell and former Federal Reserve Board Chair Ben Bernanke (R) participate in a discussion at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb/AFP/Getty ImagesEarlier this month, Fed officials voted unanimously to raise the benchmark lending rate by a quarter point to a range of 5-5.25%, while signaling a possible pause ahead. Of course, Fed officials’ thinking on monetary policy could drastically change if the United States defaults on its debt, which could happen as soon as June 1. Fed officials always mention that their views on interest rates largely depend on what economic indicators show, resisting taking an absolute stance on how they will vote.

☆ Dallas Fed President Logan says current data doesn't justify pausing rate hikes yet
▼ + stars: | 2023-05-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Dallas Federal Reserve President Lorie Logan said Thursday that the economic data points so far don't justify skipping a rate increase at the central bank's next meeting in June. While noting some progress in bringing down inflation and cooling the labor market, Logan said the Fed still has work to do in achieving its goal for price stability. But she expressed concern that what she's seen so far has indicated only modest impact from the Fed rate hikes, which have totaled 5 percentage points. And it's a long way from here to 2% inflation," Logan said, referring to the Fed's longer-run goal. She noted that the Fed's preferred inflation data point, the core personal consumption expenditures price index, ran at a 4.9% annualized pace in the first quarter.

Oil prices jumped over 6% on Monday, with U.S. crude futures topping $80 per barrel. The U.S. pumped nearly 12.5 million bpd in January, according to the latest government data. U.S. cash crude prices strengthened on Monday, with Mars Sour gaining 50 cents to trade at a $1.40 discount to U.S. crude futures . U.S. seaborne crude exports last month hit 4.74 million bpd, the highest monthly total since at least January 2020, Vortexa data showed. "This development should bode well for already strong U.S. crude exports with increased medium- and heavy-sour Canadian crude exports from the U.S. in order to supply a global market which is already short on sour crude," said Rohit Rathod, senior oil market analyst at Vortexa.

☆ Oil dips on profit taking, markets debate supply tightness
▼ + stars: | 2023-03-29 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Brent crude closed 37 cents, or 0.5%, lower at $78.28 a barrel, while West Texas Intermediate crude fell 23 cents, or 0.3%, to $72.97. On the supply side, worries of tightness after an unexpected draw in U.S. oil stockpiles and a halt to some Iraqi Kurdistan oil exports were partially offset by a smaller-than-expected output cut in Russia. U.S. crude oil stockpiles fell unexpectedly last week, the Energy Information Administration said, as refineries ramped up operations after maintenance season and U.S. imports fell to a two-year low. Supply concern were, however, eased by reports that Russian oil production fell by around 300,000 bpd in the first three weeks of March, less than the targeted cuts of 500,000 bpd. A stronger greenback hurts oil demand as crude becomes more expensive for buyers who hold foreign currencies.

☆ Activity stalls in top U.S. oilfields, outlook sours -Fed survey
▼ + stars: | 2023-03-29 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

Overall, a company outlook index turned negative, falling 27 points to -14.1. The survey was conducted among 147 oil and gas firms between March 15 and 23, a period in which oil prices were faltering on concerns about the global banking industry. While the oil production index remained positive, it fell sharply during the quarter to 10.5 from 25.8 in the fourth quarter. The dramatic pullback in natural gas prices has also led to a decrease in appetite to target gas prospects and has also led to some optional gas-rate curtailments," said one. Supplier delivery times turned negative, indicating a continuation of the supply chain snags that have plagued the industry over the past year.

☆ Fed's Logan says financial system vulnerable to bond market stress
▼ + stars: | 2023-03-03 | by ( Michael S. Derby | ) www.reuters.com time to read: +3 min

Logan, who holds a vote on this year’s Federal Open Market Committee monetary policy meetings, did not comment on the outlook for monetary policy and the economy in her prepared remarks. Before joining the Dallas Fed last year as its leader, Logan was a key official at the New York Fed designing and implementing the monetary policy directives of the FOMC. Those increases coupled with the Fed’s ongoing efforts to shed bonds to reduce its market footprint, have raised questions about what authorities might do to support markets in the future. A paper this week from the New York Fed said the official sector needs to move toward finding a more formalized approach to providing support. Logan said authorities are continuing to work on methods to formalize how they might intervene and to shore up underlying market strength.

☆ Recession 2023: Jerome Powell's Legacy Will Dictate Inflation, Stock Market, Economy
▼ + stars: | 2023-01-30 | by ( William Edwards | ) www.businessinsider.com time to read: +15 min

This obsession with controlling inflation — and potentially causing serious pain for average Americans — is driven by one major factor: legacy. High inflation eats away at consumers' purchasing power, and persistent inflation seeps into expectations for price and wage adjustments, which further fuel inflation. What's more, the full impact of the Fed's rate hikes have yet to hit. Legacy actsThere are signs that certain Fed officials are ready to dial back on the inflation fight. And navigating such a tricky economy — without throwing hundreds of thousands of Americans out of work — could cement Powell's legacy.

☆ Oil Prices Are Likely to Stay Steady This Year—With a Couple of Big Ifs
▼ + stars: | 2023-01-13 | by ( Collin Eaton | Benoît Morenne | ) www.wsj.com time to read: 1 min

Oil prices generally aren’t expected to change dramatically this year, but two big questions loom over that outlook: Will China have the workers needed to rev up its economy as the country loosens its Covid restrictions? And will American energy companies focused on fracking stick to their recent reluctance to bankroll another expensive oil boom? Brent, the international oil standard, peaked above $127 a barrel last year but has since tumbled, trading around $84 a barrel Thursday. Around two-thirds of energy executives surveyed by the Federal Reserve Bank of Dallas late last year expected West Texas Intermediate oil prices—which tend to fluctuate a few dollars a barrel below Brent—to end 2023 between $70 and $90 per barrel. The forecast is based largely on the fact that analysts expect global oil supply to outpace demand this year as economic growth slows.

Today, there are 54 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated in September 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

☆ Don't read too much into the shape of the yield curve, warns fmr. Dallas Fed President Richard Fisher
▼ + stars: | 2023-01-06 | 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 EmailDon't read too much into the shape of the yield curve, warns fmr. Dallas Fed President Richard FisherRichard Fisher, fmr. U.S. Federal Reserve Bank of Dallas president, joins 'Closing Bell: Overtime' to discuss what the jobs report could mean for Fed policy.

☆ Map: Which states will build the most EV batteries in 2030?
▼ + stars: | 2023-01-05 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +1 min

Georgia, Kentucky and Michigan are going to dominate electric vehicle battery manufacturing in the United States by 2030. Each of those three states will be able to manufacture between 97 and 136 gigawatt hours' worth of EV batteries per year by 2030, according to plans they have laid out. Kansas, North Carolina, Ohio and Tennessee will also be key players, with planned capacity for between 46 and 97 gigawatt hours' of EV battery production per year by 2030. This planned manufacturing capacity was highlighted by the U.S. Department of Energy on Monday, based on a November 2022 report from the Argonne National Laboratory in November. To keep up with increasing demand for EVs, the total build out of EV battery manufacturing capacity in North America will go from from 55 gigawatt-hours per year in 2021 to almost 1,000 gigawatt-hours per year by 2030.

☆ Oil set to close higher in 2022, a turbulent year marked by tight supplies
▼ + stars: | 2022-12-30 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. U.S. West Intermediate crude was at $78.88 a barrel, up 48 cents, or 0.6%, after closing 0.7% lower on Thursday. Brent is set to close 2022 with a 5.76% gain after rising 50.2% in 2021. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes at the world’s No. Looking ahead on supplies, western sanctions will push Russia to divert more crude and refined products exports from Europe to Asia.

☆ Oil set to end turbulent 2022 modestly higher
▼ + stars: | 2022-12-30 | by ( Florence Tan | Emily Chow | ) www.reuters.com time to read: +3 min

FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. Brent looked set to end the year with a 7.6% gain, after jumping 50.2% in 2021. So I think oil prices may fall to $60 next year,” he said. Oil prices cooled quickly in the second half this year as central banks across the world hiked interest rates to fight inflation, boosting the U.S. dollar. Also, China’s zero-COVID restrictions, which were only eased in December, squashed oil demand recovery hopes for the world’s No.

☆ Costs and uncertainty cloud oil outlook, says Dallas Fed
▼ + stars: | 2022-12-29 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

The index was at 57.7 in the second quarter of this year, the highest reading in the survey's history. U.S. shale oil growth has also showed signs of slowing. Some 32% of executives polled said cost inflation and supply chain bottlenecks were the biggest drags on oil and gas production growth, while 27% cited maturing oilfields. Overall, executives polled were less optimistic about the future with the company outlook index falling by 20 points to 13.1, below the series average. The outlook uncertainty index jumped to 40.1 from 35.7 the prior quarter.

☆ Even a Housing Crash Can’t Bring Back a Shale Boom This Time
▼ + stars: | 2022-12-28 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Ask a U.S. producer why they didn’t pump out more oil this year, and one common answer you will get is that it has become too difficult and expensive to hire new employees. There are some early signs that labor markets could ease next year, but that may not be nearly enough to unleash production. In a report published in December, Goldman Sachs noted that the main source of labor supply in the shale industry is typically from the housing market. This makes a lot of sense for parts of the oil-and-gas industry. Workers from that same pool also tend to be tapped as candidates for training on the more skilled and technical roles.

☆ It's a historically bad time to buy a home, and a leading economist says it might not get any better until 2024 at the earliest
▼ + stars: | 2022-11-16 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

One economist expects conditions to improve in 2024 as inflation eases. Evangelou, says the homebuying market will see a sizable drop in activity in 2023 as inventory levels and demand continue to decline. Because of this, Evangelou says first-time homebuyers should plan to compete again in 2024 at the earliest. About 80% of homebuyers described the real estate market as "bad," according to the November consumer sentiment survey from the University of Michigan. "The next couple of years are going to be volatile as households have to deal with elevated inflation," Evangelou told Insider.

☆ Goldman Sachs breaks down an options trading strategy with an 18-year track record of adding income to investors' portfolios — and recommends making these 4 trades now
▼ + stars: | 2022-11-11 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

As markets weather volatility, the investment bank recommends options trades with these 4 stocks. In a recent note to clients, Goldman Sachs breaks down this options trading strategy that the investment bank says has an 18-year track record of adding extra income to investors' pockets. Goldman Sachs Global Investment Research"These strategies have become increasingly popular among investors, especially given the prospects of flat to negative equity markets. For short-term overwriting options trades, the note focuses on three factors when choosing an "attractive" stock: events, implied volatility, and market cap of the company. "We have found that overwriting stocks with these characteristics has added over 500 bps over the past 16 years," the note said.

Rep. Mayra Flores speaks at the University Draft House in McAllen, Texas, on Oct. 10. “I still believe at the end of the day this is still a solid, moderate Democratic region,” González said. A fighting chanceOf the three Latina Republicans running, Mónica De La Cruz, endorsed by former President Donald Trump and running in an adjacent congressional district, Texas' 15th, is considered the party's best chance to win. Soon after being sworn in to Congress, Flores voted against the landmark gun safety bill pushed through Congress by Sen. John Cornyn, the Texas Republican. Francisco Medrano Jr., of Harlingen, says he’s likely to support Republican Mayra Flores.

☆ U.S. oil execs fear recession, nagging supply shortages -Dallas Fed survey
▼ + stars: | 2022-09-28 | by ( Liz Hampton | ) www.reuters.com time to read: +2 min

U.S. crude is projected to drop to $89 a barrel by year-end, survey respondents said, compared to an earlier forecast of $108 a barrel. The activity index remained strong, but declined to 46 from a record 57.7 in the previous quarter, according to the survey. Executives said finding workers and supplies, as well as higher input costs, have hindered their ability to grow operations. "The availability of services and supplies is the chief constraint on expanding my business," said one executive. The survey was conducted between Sept. 14-22 and included 105 exploration and production companies and 58 oilfield services providers.

Today, there are 56 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated on June 30, 2022. In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.

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