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Search resuls for: "Carl Riccadonna"


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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBNP Paribas forecasting further disinflation in housing market, says Chief U.S. Economist RiccadonnaCarl Riccadonna, chief U.S. economist at BNP Paribas, and CNBC's Steve Liesman join 'The Exchange' to share their reactions to the 2Y Treasury auction, outlooks for housing and inflation, and more.
Persons: Riccadonna Carl Riccadonna, Steve Liesman Organizations: BNP, BNP Paribas, Treasury
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with BNP Paribas' Carl Riccadonna and Dynasty Financial's Ron InsanaCarl Riccadonna, BNP Paribas Markets 360 chief U.S. economist, and Ron Insana, chief market strategist at Dynasty Financial Partners, join 'Power Lunch' to discuss the Fed, August jobs report numbers and what it means for the markets.
Persons: Carl Riccadonna, Ron Insana Carl Riccadonna, Ron Insana Organizations: BNP, Financial Partners
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will prove it's done enough by the November meeting, says BNP's Carl RiccadonnaCarl Riccadonna, BNP Paribas Markets 360 chief U.S. economist, and Ron Insana, chief market strategist at Dynasty Financial Partners, join 'Power Lunch' to discuss the Fed, August jobs report numbers and what it means for the markets.
Persons: BNP's Carl Riccadonna Carl Riccadonna, Ron Insana Organizations: BNP, Financial Partners
Instead, Wall Street analysts and policymakers at the Federal Reserve will scrutinize the “core” inflation measure that strips out food and fuel prices, which can be volatile. When it comes to the monthly change in core inflation, the news could be a lot more encouraging. If that pans out, it would make for the lowest back-to-back core inflation readings since early 2021. Still, the inflation report could be more difficult for the Biden administration to brag about than the last few reports, which showed across-the-board cooling. “Core inflation pressures are cooling down,” she said.
Persons: Biden, , , Laura Rosner, Warburton, ” Carl Riccadonna Organizations: Inflation, Wall Street, Federal Reserve
The Labor Department's closely watched employment report on Friday is still expected to show a tight labor market, with the unemployment rate steady near multi-decade lows, though wage growth probably moderated. Nonfarm payrolls likely increased by 200,000 jobs last month, after rising 209,000 in June, according to a Reuters survey of 80 economists. Still, employment growth would be double the roughly 100,000 jobs per month needed to keep up with the increase in the working age population. Striking Hollywood writers and actors also likely had no impact on employment growth. Though annual wage growth remains too high to be consistent with the Fed's 2% inflation target, it would be the latest indication of wage pressures continuing to subside into the third quarter.
Persons: Elizabeth Frantz, Sam Bullard, Nonfarm, Carl Riccadonna, Sung Won Sohn, Veronica Clark, Lucia Mutikani, Diane Craft Organizations: REUTERS, Federal Reserve, Labor, Fed, BNP, Labor Department's Bureau of Labor Statistics, Institute for Supply, Labor Department, Conference, Finance, Loyola Marymount University, Citigroup, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, Wells, Charlotte , North Carolina, New York, Los Angeles
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDebt default would be 'long lasting scar' for the U.S. economy, says G Squared's Victoria GreeneVictoria Greene, G Squared Private Wealth founding partner, and Carl Riccadonna, BNP Paribas Markets 360 chief U.S. economist, joins 'Closing Bell Overtime' to discuss the debt ceiling talks and what a default could me for markets.
"Investors are clearly continuing to focus on remaining players that are deemed the weakest," wrote UBS banking analyst Erika Najarian on Thursday. The Federal Deposit Insurance Corp. did not respond to a request for comment. Critics say increasing deposit insurance could encourage risk-taking, and note regulators have fewer tools to rescue banks following the 2008 financial crisis. The latest crisis began in March when runs on Silicon Valley Bank and Signature Bank led to their abrupt closures, leading depositors to move their cash to bigger banks. To stem the contagion, regulators took emergency steps to reimburse all customers at the two banks, while the Fed offered lenders additional liquidity.
He described the slow rate of economic growth penciled in by Fed officials next year as still "modest." Only two of 19 Fed officials see the benchmark overnight interest rate staying below 5% next year, a sign of a still broad consensus to lean against inflation. In the U.S. Treasury market, which plays a key role in the transmission of Fed policy decisions into the real economy, yields were little changed to slightly lower. Powell said the speed of coming rate rises is less critical now than earlier in the year when the central bank was "front-loading" rate hikes to catch up with accelerating prices. "Our focus right now is really on moving our policy stance to one that is restrictive enough to ensure a return of inflation to our 2% goal over time, it's not on rate cuts," Powell said.
Jobs report also on tapThe Fed meeting takes place just two days before the nation will get its next report card on the labor market. Another jobs report, from payroll processor ADP, is also due out next week, and this one looks just at Corporate America. The government said in the September jobs report that average hourly earnings rose 5% in the past 12 months. The Fed typically prefers to see wage growth in the 2% to 3% annual range as a sign that inflation is under control. Discovery, Starbucks (SBUX), PayPal (PYPL), Amgen (AMGN) and Block (SQ)Friday: US jobs report; earnings from Cardinal Health (CAH), Duke Energy (DUK) and Hershey (HSY)
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTop market watchers say the data and earnings have yet to catch up with the economic realitiesJohn Stoltzfus of Oppenheimer and Carl Riccadonna of BNP Paribas discuss why they're less bullish on the markets and economy as the Fed continues to try to get inflation in check.
Outside the Fed, however, there is a growing sense that the path to a soft landing is unlikely. Some analysts estimate the unemployment rate, which hit 3.7% in August, may need to rise as high as 7.5%. The new projections, though, will include anonymous estimates from each official for where the policy rate should be at the end of 2022 and the following three years. Reuters GraphicsThe 1.2-percentage-point difference between the two, the so-called "real" or inflation-adjusted federal funds rate, showed the Fed bowing to the need for tighter policy. But inflation eventually will have to move for the Fed to change course.
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