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Top related persons:
Michelle Bowman - 2 Jerome Powell - 2 Warren Buffett - 1 Berkshire Hathaway - 1 Buffett - 1 Geico - 1 he's - 1 Huggins - 1
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Wall Silicon Nebraska Palo Alto , California U.S
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Service - 2 Kansas Bankers Association - 2 Berkshire - 1 Apple - 1 Progressive - 1 Allstate - 1 AlphaSense - 1 Nebraska Furniture Mart - 1

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5 mentions found


☆ Warren Buffett turns 93 today. Here are 6 of the investing icon's best birthday stories.
  + stars: | 2023-08-30 | by ( Theron Mohamed | ) www.businessinsider.com   time to read: +6 min
"On August 30, 2030 — my 100th birthday — I plan to announce that Geico has taken over the top spot, " Buffett said in his 2015 shareholder letter. AdvertisementAdvertisementIn his 1999 shareholder letter, Buffett credited Huggins' "fanatical insistence on both product quality and friendly service" for See's generating $857 million in pre-tax income since Berkshire took over. During the party, Dinsdale revealed he had attended a directors' meeting at Kansas Bankers Surety, an insurance firm that Buffett had long admired. "I'm now scheming to get invited to Jane's next party," Buffett joked. He illustrated the point in his 1990 shareholder letter, using a story about his granddaughter Emily's fourth birthday party a few months earlier.
Persons: Warren Buffett, Berkshire Hathaway, Buffett, Geico, he's, Huggins, Law Buffett, Charlie Munger, Chuck Huggins, See's, Charlie, Mrs B, Rose Blumkin, Mrs, Jane Rogers, Roy Dinsdale, Dinsdale, I'm, Jane's, Emily's, Emily, Gee, B's Organizations: Berkshire, Apple, Service, Progressive, Allstate, AlphaSense, Nebraska Furniture Mart, Kansas Bankers Locations: Wall, Silicon, Nebraska
☆ Don't rule out more interest-rate hikes, with the job market still looking strong
  + stars: | 2023-08-07 | by ( George Glover | ) www.businessinsider.com   time to read: +3 min
The central bank will need to see more "signs that labor market conditions are loosening," governor Michelle Bowman said Saturday. But governor Michelle Bowman pushed back on Saturday, saying that additional hikes would probably be needed to bring inflation in line with the central bank's 2% target. Bowman flagged the labor market the same week a fresh batch of jobs data signaled the Fed might have more work to do to stop another flare-up in prices. "The recent jobs data is more or less in agreement with anecdotal evidence that a softening in the labor market is underway," UBS Global Wealth Management CIO Mark Haefele said in a note to clients Monday. "But elements of resilience in the jobs market mean that investors cannot yet take an end to rate hikes for granted," he added.
Persons: Michelle Bowman, Jerome Powell, Powell, Mark Haefele Organizations: Service, Federal Reserve, Kansas Bankers Association, Bowman, UBS Global Wealth Management Locations: Wall, Silicon
☆ Fed's Bowman says more US rate hikes likely will be needed
  + stars: | 2023-08-05 | by ( ) www.reuters.com   time to read: +3 min
REUTES/Ann Saphir/File PhotoAug 5 (Reuters) - The U.S. Federal Reserve will likely need to raise interest rates further to bring down inflation, Governor Michelle Bowman said on Saturday. Bowman said she supported the Fed's quarter-point increase in interest rates last month, given still-high inflation, strong consumer spending, a rebound in the housing market and a labor market that is helping to feed higher prices. In forecasts published in June, most Fed policymakers expected to end the year with the Fed policy rate at 5.6%, one quarter-point hike above the setting established at the Fed's late-July meeting. Bowman's use of the plural "rate increases" in her remarks on Saturday indicates she thinks the Fed will need to go higher than that. "I will also be watching for signs of slowing in consumer spending and signs that labor market conditions are loosening."
Persons: Michelle Bowman, Ann Saphir, Bowman, Jerome Powell, Banks, Tom Hogue Organizations: Federal, Hoover Institution, REUTES, U.S . Federal Reserve, Kansas Bankers Association, Market Committee, Labor, Thomson Locations: Palo Alto , California, U.S
☆ Fed should stick to raising rates while labor market strong, Bullard says
  + stars: | 2023-04-06 | by ( Lindsay Dunsmuir | ) www.reuters.com   time to read: +3 min
April 6 (Reuters) - The Federal Reserve should stick to raising interest rates to lower inflation while the labor market remains strong, given the high probability recent financial stresses will continue to abate and absent a marked tightening of credit conditions, St. Louis Fed President James Bullard said on Thursday. Economic data since the Fed's March 21-22 policy meeting has been mixed, with encouraging signs of a loosening in the labor market and a further abatement in high inflation tempered by both remaining too strong for comfort. The Labor Department's employment report for March is due to be released on Friday. Bullard said this week's better-than-expected report on labor market openings still showed a job market that remained very strong by historical standards. Investors are almost evenly divided as to whether the Fed will keep its policy rate unchanged at its May 2-3 meeting or proceed with a quarter-of-a-percentage-point increase.
☆ The Fed should keep raising rates as overblown credit fears make a recession unlikely, Fed President Bullard says
  + stars: | 2023-04-06 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +3 min
The Fed can keep raising rates as there's little risk of recession caused by recent bank stress, Fed president James Bullard said. The lending facilities extended to banks have been working, offsetting a bigger credit crunch. "It's not clear to me that there will be much of a pullback on lending by these types of banks," Bullard said. Bullard had previously forecast a Fed rate of 5.50%-5.75%, and has been a proponent of the bank's aggressive policy in order to tame high prices. And rate cuts may not be the most effective answer to current credit anxieties, Bank of America explained in a note published Thursday.
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