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Many people feel “that they’re not getting enough back, that a college education isn’t worth enough,” said Paul Peterson, a professor of education policy and governance at Harvard University. The data says that college education is worth more than ever.”The dissonance shows how higher education has become another slice of the economy where the vibes are worse than the numbers might suggest — and risks exacerbating Democratic losses with working-class voters. Andrew Smith, director, University of New Hampshire Survey CenterThere are many reasons why improving college affordability may not register widely. Given other budget pressures — from child care to car insurance — college expenses simply might not have fallen enough to matter. A polling site in Vienna, Va., on Election Day, which saw working-class voters further embrace Republicans.

Persons: they’re, ”, Paul Peterson, Donald Trump, Kamala Harris, Trump, Andrew Smith, Pew, “ We’ve, Robin Isserles, ” Isserles, “ I’ve, Bill Clark, Ashley Koning, Harris, ” Koning, Sallie Mae Organizations: Harvard University, “, NBC, Pew, University of New Hampshire Survey, grads, National Center for Education Statistics, Dallas Federal Reserve Bank, Manhattan Community College, Trump, Voters, Inc, Getty, Eagleton Center for Public, Rutgers University, Democrats, College Board, Republicans Locations: New York City, Staten Island, Long, Nassau County, Vienna, Va, New Jersey, New Jersey , New Hampshire, Pennsylvania

☆ S&P 500, Nasdaq score longest win streak in 2 years on rates view
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +4 min

Fellow Governor Michelle Bowman said she took the recent Gross Domestic Product number as evidence the economy not only "remained strong," but might have gained speed and requires a higher Fed policy rate. The Dow Jones Industrial Average (.DJI) rose 56.94 points, or 0.17%, to 34,152.8; the S&P 500 (.SPX) gained 12.40 points, or 0.28 %, at 4,378.38 and the Nasdaq Composite (.IXIC) added 121.08 points, or 0.90 %, at 13,639.86. The S&P 500 (.SPX) scored its seventh straight day in the green, with the Nasdaq (.IXIC) recording its eighth straight advance, the longest such streak for each index in two years. The Dow gained for a seventh straight session, its longest since a 13-session run in July. The S&P 500 posted 15 new 52-week highs and three new lows while the Nasdaq recorded 48 new highs and 145 new lows.

Persons: CME's, Christopher Waller, Michelle Bowman, Neel Kashkari, Austan Goolsbee, Jerome Powell, Powell, Ken Polcari, Brendan McDermid, Dow, Lorie Logan, Chuck Mikolajczak, Richard Chang Organizations: Dow, Nasdaq, Treasury, Federal Reserve, Fed, Federal Reserve Bank of Minneapolis, Chicago Fed, Kace Capital Advisors, New York Stock Exchange, REUTERS, Microsoft, Apple, Dow Jones, . Energy, Dallas Federal Reserve Bank, Uber Technologies, NYSE, Thomson Locations: U.S, Boca Raton , Florida, New York City

REUTERS/Ann Saphir/File Photo Acquire Licensing RightsNov 7 (Reuters) - Dallas Federal Reserve Bank President Lorie Logan on Tuesday said she supported leaving the Fed's policy rate on hold last week to assess if financial conditions are sufficiently tight to bring down inflation, while pointing to recent signs the fight was not yet won. "We're going to continue to need to see tight financial conditions in order to bring inflation to 2% in a timely and sustainable way," Logan said. "I'm going to be looking at the data and I'm going to be looking at financial conditions as we get closer to the following meeting." That view was one main reason the Fed opted to keep the policy rate in its current 5.25%-5.50% range last week. "We have seen some retracement in that 10-year yield and financial conditions, and so I'll be watching to see whether that continues and what that means for the implications of policy," Logan said on Tuesday.

Persons: Lorie Logan, Ann Saphir, Logan, Franklin Paul, Andrea Ricci Organizations: Reserve Bank, Dallas, National Association for Business Economics, REUTERS, Dallas Federal Reserve Bank, Fed, Thomson Locations: Dallas , Texas, U.S

☆ Fed's Logan: can skip Sept rate hike, but 'there is work left to do'
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

Federal Reserve Bank of Dallas President Lorie Logan walks to the opening dinner of the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, U.S., August 24, 2023. My base case, though, is that there is work left to do," she said in remarks prepared for delivery to the Dallas Business Club at Southern Methodist University. "After the unacceptably rapid price increases of the past several years, I’m not yet convinced that we’ve extinguished excess inflation." "Another skip could be appropriate when we meet later this month," Logan said, referring to the Fed's upcoming Sept. 19-20 meeting. "In coming months, further evaluation of the data and outlook could confirm that we need to do more to extinguish inflation."

Persons: Lorie Logan, Ann Saphir, I’m, Logan, Diane Craft Organizations: Reserve Bank, Dallas, Kansas City, REUTERS, Dallas Federal Reserve Bank, U.S, Dallas Business Club, Southern Methodist University, Fed, Thomson Locations: Kansas, Jackson Hole , Wyoming, U.S

☆ Wall St Week Ahead Debt ceiling deal may shift investor focus to further Fed action
▼ + stars: | 2023-05-26 | by ( David Randall | ) www.reuters.com time to read: +4 min

Megacap technology and growth stocks, which benefit from lower interest rates, have led the market's advance. A Congressional package raising the debt ceiling, meanwhile, is expected to cap spending on government programs. The debt ceiling impasse had weighed on stocks in recent days, but for the most part investors had been expecting Washington to reach a deal. At the same time, the equity market has only just begun to start pricing in more Fed hikes, she added. "The ongoing effects of monetary policy now are setting us up for this wall of debt that people aren't talking about with enough vigor," he said.

☆ Growing debt ceiling deal hopes send stocks higher
▼ + stars: | 2023-05-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The benchmark S&P 500 index (.SPX) rebounded from early declines on news that top U.S. congressional Republican Kevin McCarthy said a deal to raise or suspend the debt ceiling could potentially be reached in time to hold a House vote next week. On Wednesday, President Joe Biden and McCarthy reiterated their aim to strike a deal soon to raise the $31.4 trillion federal debt ceiling and agreed to talk as soon as Sunday. The debt ceiling has drawn attention away from uncertainty about the Federal Reserve's stance on interest rates. Advancing issues outnumbered decliners on the NYSE by a 1.31-to-1 ratio; on Nasdaq, a 1.14-to-1 ratio favored advancers. The S&P 500 posted 27 new 52-week highs and seven new lows; the Nasdaq Composite recorded 88 new highs and 83 new lows.

U.S. West Texas Intermediate (WTI) crude fell 97 cents, or 1.3%, to settle at $71.86. A stronger dollar can weigh on oil demand by making the fuel more expensive for holders of other currencies. High interest rates boost borrowing costs, which can slow the economy and reduce oil demand. The strength of April U.S. economic data in addition to optimism about the debt ceiling negotiations have strengthened market expectations of a further hike, ANZ Research said in a note on Thursday. Another factor that could reduce oil demand was a fire in Mexico at the Salina Cruz refinery owned by Mexican state oil company Pemex.

☆ Debt ceiling optimism helps lift S&P 500, Nasdaq
▼ + stars: | 2023-05-18 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

The benchmark S&P 500 index (.SPX) rebounded from early declines on news that top U.S. congressional Republican Kevin McCarthy said a deal to raise or suspend the debt ceiling could potentially be reached in time to hold a House vote next week. On Wednesday, President Joe Biden and McCarthy reiterated their aim to strike a deal soon to raise the $31.4 trillion federal debt ceiling and agreed to talk as soon as Sunday. The debt ceiling has drawn attention away from uncertainty about the Federal Reserve's stance on interest rates. Declining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.17-to-1 ratio favored decliners. The S&P 500 posted 23 new 52-week highs and seven new lows; the Nasdaq Composite recorded 77 new highs and 74 new lows.

☆ Fed's hawks make a pitch against a rate-hike pause
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +3 min

On Thursday, rate-futures markets reflected a one-in-three chance of a June rate hike, compared with a one-in-10-chance seen a week ago. The Fed has lifted borrowing costs at each meeting since March 2022, bringing them from near zero to a 5.00-5.25% range as of early this month. Consumer price inflation, for instance, edged down to a 4.9% annual pace in April but is still far above the Fed's 2% goal. However, his embrace of the idea that there is still a lot of policy tightening in the pipeline suggests he could be comfortable with a pause. Dallas Fed's Logan had the opposite presumption.

President Joe Biden and McCarthy reiterated their aim to strike a deal soon on Wednesday to raise the $31.4 trillion federal debt ceiling and agreed to talk as soon as Sunday. Growth stocks led gains, with Nvidia Corp (NVDA.O), Apple Inc (AAPL.O) and Microsoft Corp (MSFT.O) rising between 1% and 4.4%. Bath & Body Works Inc (BBWI.N) gained 9.6% after the beauty and skincare firm raised its annual profit forecast. Declining issues outnumbered advancers for a 1.07-to-1 ratio on the NYSE and for a 1.04-to-1 ratio on the Nasdaq. The S&P index recorded 22 new 52-week highs and four new lows, while the Nasdaq recorded 68 new highs and 50 new lows.

Dow Jones Industrial Average (.DJI) constituent Cisco Systems Inc's (CSCO.O) shares fell 4.3% in premarket trading after it said a large backlog of products weighed on demand for new orders from customers. Shares of Walmart Inc (WMT.N) rose 1.7% after the retailer raised its annual sales and profit targets, befitting from inflation-wary consumers trading down to cheaper groceries. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were up 1.75 points, or 0.04%, and Nasdaq 100 e-minis were up 15 points, or 0.11%. Bath & Body Works Inc (BBWI.N) gained 13% after the beauty and skincare firm raised its annual profit forecast. Japan's Prime Minister Fumio Kishida said he welcomed and expected more investment from global chipmakers in the country.

☆ Fed's Logan: data does not yet show June pause is appropriate
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: 1 min

May 18 (Reuters) - Dallas Federal Reserve Bank President Lorie Logan on Thursday said she's concerned that "much too high" inflation is not cooling fast enough yet to allow the Fed to pause its interest-rate hike campaign in June. "The data in coming weeks could yet show that it is appropriate to skip a meeting," Logan said in remarks prepared for delivery to the Texas Bankers Association in San Antonio, referring to the Fed's twice-quarterly policy-setting meetings, the next of which takes place June 13-14. "As of today, though, we aren’t there yet." Reporting by Ann SaphirOur Standards: The Thomson Reuters Trust Principles.

Dow Jones Industrial Average (.DJI) constituent Cisco Systems Inc (CSCO.O) slipped 1.7% after it said a large backlog of products weighed on demand for new orders from customers. Shares of Walmart Inc (WMT.N) rose 2.8% after the retailer raised its annual sales and profit targets, benefiting from inflation-wary consumers trading down to cheaper groceries. And you got a little follow through from the optimism around getting a (debt ceiling) deal done," said Thomas Hayes, chairman at Great Hill Capital LLC. Bath & Body Works Inc (BBWI.N) gained 8.7% after the beauty and skincare firm raised its annual profit forecast. Declining issues outnumbered advancers for a 2.30-to-1 ratio on the NYSE and for a 1.47-to-1 ratio on the Nasdaq.

☆ Lawmakers are infuriated with Fed's inaction in its insider trading investigation
▼ + stars: | 2023-05-17 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

CNN —Congressional lawmakers grilled Federal Reserve Inspector General Mark Bialek Wednesday over possible insider trading among Fed officials in 2020, accusing the nation’s central bank of inaction. The heads of the Boston and Dallas Federal Reserve banks retired early in 2021 after trades they made before and during the pandemic came to light. Bialek told lawmakers there was no conflict of interest and that he was still able to conduct fair, independent investigations. This is not acceptable.”The Office of Inspector General declined to comment Wednesday night. A separate Fed investigation into SVB’s collapse, not involving Bialek, faulted Fed supervisors.

☆ 'The credit crunch has started': Here's what tighter lending standards mean for American consumers and businesses as banks navigate the SVB wreckage
▼ + stars: | 2023-04-08 | by ( Carla Mozée | ) www.businessinsider.com time to read: +6 min

"Each bank is going to apply those credit standards differently," a source told Insider. Requiring higher minimum credit scores and minimum repayments and curbing credit limits were among tweaks banks were making. Lending to consumers dropped and credit standards and terms "continued to tighten sharply," with marked rises in loan pricing. A "dramatic worsening of firm and consumer access to bank credit," is how a 2014 paper on the Federal Reserve's website describes a credit crunch. Tighter lending standards may have a big impact on floating-rate loans versus fixed loans, CFRA equity analyst Alexander Yokum told Insider.

☆ Fed's Logan supports slower rate hike pace, possibly higher stopping point
▼ + stars: | 2023-01-18 | by ( Ann Saphir | ) www.reuters.com time to read: +2 min

"If you’re on a road trip and you encounter foggy weather or a dangerous highway, it’s a good idea to slow down. "That’s why I supported the (Fed's) decision last month to reduce the pace of rate increases. And the same considerations suggest slowing the pace further at the upcoming meeting." With so much unknown about 2023, she said, the Fed should not "lock in" on a peak policy rate but instead stay flexible by increasing rates in smaller increments. Inflation by the Fed's preferred gauge, the personal consumption expenditures price index, has averaged 5.8% at an annual rate for the past two years.

☆ Exxon orders shale stand-down over rash of oilfield worker injuries
▼ + stars: | 2022-09-28 | by ( Liz Hampton | ) www.reuters.com time to read: +3 min

REUTERS/Nick OxfordCompanies Exxon Mobil Corp FollowSept 28 (Reuters) - Exxon Mobil (XOM.N) issued a temporary "stand-down" across its U.S. shale operations last week following back-to-back worker injuries, including one fatality, according to people familiar with the matter. The stand-down follows two worker accidents within days at production sites run by Exxon's shale unit and comes as Exxon is facing multiple negligence lawsuits. In March, a woman was crushed to death at another West Texas site operated by Exxon. Exxon or its shale subsidiary XTO Energy this year have faced at least six negligence lawsuits resulting from injuries in west Texas, according to complaints filed in Harris County District Court in Houston. It separately reported 15 fires at its New Mexico operations, according to the state's oil regulator.

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