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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with the 'Closing Bell' investment committeeEllen Zentner, Morgan Stanley Wealth Management, Chris Hyzy, Merrill and Bank of America Private Bank, and Liz Young Thomas, SoFi head of investment strategy, join 'Closing Bell' to discuss November's Federal Reserve minutes, current market performance, and more.
Persons: Ellen Zentner, Morgan, Chris Hyzy, Liz Young Thomas, SoFi Organizations: Morgan Stanley Wealth Management, Bank of America Private Bank, November's Locations: Merrill
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed may slow the pace of rate cuts next year, says Morgan Stanley Wealth's Ellen ZentnerEllen Zentner, chief economic strategist at Morgan Stanley Wealth Management, joins CNBC's 'Closing Bell Overtime' to discuss the pause in the post-election market rally, how the economy will respond to the incoming administration, and more.
Persons: Morgan Stanley, Ellen Zentner Ellen Zentner Organizations: Morgan Stanley Wealth Management
The core CPI accelerated 0.3% for the month and was at 3.3% annually, also meeting forecasts. The consumer price index , which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage point from September. Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday. Energy costs, which had been declining in recent months, were flat in October while the food index increased 0.2%.
Persons: Dow Jones, Trump, Ellen Zentner Organizations: Dow, of Labor Statistics, Stock, Federal Reserve, Energy, BLS, White, CPI, Morgan Stanley Wealth Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Trivariate’s Adam Parker and Morgan Stanley’s Ellen ZentnerTrivariate’s Adam Parker and Morgan Stanley’s Ellen Zentner, join 'Closing Bell' to discuss markets, election uncertainty in the market and earnings season.
Persons: Trivariate’s Adam Parker, Morgan Stanley’s Ellen Zentner Trivariate’s Adam Parker, Morgan Stanley’s Ellen Zentner
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere's a frothy cocktail that could move markets higher, says Trivariate’s Adam ParkerTrivariate’s Adam Parker and Morgan Stanley’s Ellen Zentner, join 'Closing Bell' to discuss markets, election uncertainty in the market and earnings season.
Persons: Trivariate’s Adam Parker Trivariate’s Adam Parker, Morgan Stanley’s Ellen Zentner
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSeasonality is still here despite an okay September, says NewEdge's Cameron DawsonNewEdge Wealth's Cameron Dawson, Virtus’ Joe Terranova and Morgan Stanley's Ellen Zentner, join 'Closing Bell' to discuss the Fed, potential for a soft landing and their market outlook.
Persons: NewEdge's Cameron Dawson, Wealth's Cameron Dawson, Virtus ’ Joe Terranova, Morgan Stanley's Ellen Zentner Organizations: Virtus ’
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with NewEdge Wealth's Cameron Dawson, Virtus’ Joe Terranova and Morgan Stanley's Ellen ZentnerNewEdge Wealth's Cameron Dawson, Virtus’ Joe Terranova and Morgan Stanley's Ellen Zentner, join 'Closing Bell' to discuss the Fed, potential for a soft landing and their market outlook.
Persons: NewEdge Wealth's Cameron Dawson, Virtus ’ Joe Terranova, Morgan Stanley's Ellen Zentner NewEdge Wealth's Cameron Dawson, Morgan Stanley's Ellen Zentner Organizations: Virtus ’
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the U.S. central bank should not be interpreted as a sign that future moves will be as aggressive. "If the economy performs as expected, that would mean two more rate cuts this year, a total of 50 [basis points] more." The current federal funds rate stands at 4.75%-5%, with the expected additional 50 basis points in cuts set to take the Fed's benchmark interest rate to 4.25%-4.5% at the end of 2024. In Asia, traders will focus on the Bank of Japan's third quarter Tankan survey, which measures the level of business optimism among large Japanese companies. As such, the member said, "the Bank will not raise its policy interest rate when financial and capital markets are unstable."
Persons: Jerome Powell, Morgan Stanley, Ellen Zentner Organizations: Federal, U.S, Bank of, U.S . Federal Reserve, Liberal Democratic Party, Bank, Reuters Locations: Asia, Pacific, Japan
But we are not on any preset course,” he told the National Association for Business Economics in prepared remarks. A basis point equals 0.01%. “We do not believe that we need to see further cooling in labor market conditions to achieve 2 percent inflation,” Powell added. For his part, Powell expressed confidence in economic strength and sees inflation continuing to cool. Broader economic conditions also set the table for further disinflation.”Following the speech, Powell was scheduled to sit for a question-and-answer session with Morgan Stanley economist Ellen Zentner.
Persons: Jerome Powell, , ” Powell, Powell, , Morgan Stanley, Ellen Zentner Organizations: National Association for Business Economics, Committee, Fed Locations: Nashville
Federal Reserve Chair Jerome Powell is set to speak Monday to the National Association for Business Economists during the organization's annual conference in Nashville. The central bank chair is delivering his assessment on the economy as well as his policy views. Following the speech, Powell will speak in a moderated discussion with Ellen Zentner, global head of thematic and macro investing at Morgan Stanley Wealth Management. The speech comes less than two weeks after the rate-setting Federal Open Market Committee approved a half-percentage-point reduction in its key overnight borrowing rate, the first rate reduction in more than four years. Markets expect the Fed to follow up with additional cuts this year and in 2025 depending on the path of the economic data.
Persons: Jerome Powell, Powell, Ellen Zentner Organizations: National Association for Business Economists, Morgan Stanley Wealth Management, CNBC, YouTube Locations: Nashville
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailZentner: If the economy does better than expected... you have to have yields come up. Ellen Zentner, Chief Economic Strategist and Global Head of Thematic and Macro Investing at Morgan Stanley Wealth Management, discusses the current economic landscape and the implications of potential Federal Reserve rate cuts.
Persons: Ellen Zentner Organizations: Global, Morgan Stanley Wealth Management
Morgan Stanley's Ellen Zentner on Fed: It's okay to cut
  + stars: | 2024-06-13 | 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 EmailMorgan Stanley's Ellen Zentner on Fed: It's okay to cutEllen Zentner, Morgan Stanley chief U.S. economist, joins 'Power Lunch' to discuss her takeaways from the Fed meeting and PPI data.
Persons: Morgan, Ellen Zentner, Morgan Stanley
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley's Zentner: Still have strong conviction that the Fed will cut three times this yearEllen Zentner, Morgan Stanley chief U.S. economist, joins 'Money Movers' to discuss signs Zentner is seeing that reinforce their economic view, the struggle with survey work that takes a long time to work its way through the economy, and more.
Persons: Morgan Stanley's Zentner, Ellen Zentner, Morgan Stanley
Wall Street reacted Thursday to this week's Fed meeting, with forecasts scattered across a range of outcomes for where monetary policy heads next. Most economists for the biggest forecasting firms expect the central bank to lower benchmark interest rates sometime later this year. Goldman left in place its call for two rate cuts this year of a quarter percentage point each, with one in July and the other in November. "If inflation comes in stronger than in our baseline, we would expect the first rate cut to be postponed to December," he wrote. For 2025, we continue to expect four rate cuts."
Persons: Goldman Sachs, David Mericle, Powell, Goldman, Andrew Hollenhorst, Morgan Stanley, Ellen Zentner, Marc Giannoni, Michael Gapen, Michael Bloom Organizations: Fed, Futures, Group, Citigroup, Barclays, Bank of America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will likely end up with a three cut median this week, says Morgan Stanley's Ellen ZentnerEllen Zentner, Morgan Stanley chief U.S. economist, joins 'Squawk Box' to discuss this week's Fed policy meeting, what to expect from Fed Chair Powell, state of the economy, interest rate outlook, and more.
Persons: Morgan Stanley's Ellen Zentner Ellen Zentner, Morgan Stanley, Powell Organizations: Fed
Undocumented immigration has boosted the labor market, helping steer the US away from a recession, some experts say. Morgan Stanley's chief US economist has also recently cited undocumented immigration as a positive labor-market force. AdvertisementHere's a question that's been lurking beneath the stellar economic resilience in the US: how has the labor market stayed so strong? "It has boosted the labor force, it has boosted supply for labor, it has boosted job gains. AdvertisementThe labor market has recorded gains stronger than that, posting an addition of 275,000 jobs in February.
Persons: Morgan Stanley's, , Wendy Edelberg, Tara Watson, Watson, Ellen Zentner, Zentner Organizations: Brookings Institution, Service, Congressional, Office, Bureau of Labor Statistics, Bloomberg, Brookings
Relative to bitcoin , the initial price action following the upgrade is even weaker historically, with ether underperforming 80% of the time in the first 20 days, Saunders added. Saunders warned, however, that the trading environment for crypto is different today than it was during previous Ethereum network upgrades. The scalability problem Dencun follows the "Shapella" upgrade from almost a year ago, which allowed investors to withdraw their staked ether from the network for the first time. This upgrade is focused on the longer-term goal of enhancing Ethereum's ability to handle more activity and transactions as the network grows. "The Dencun upgrade serves as an important step in addressing this congestion, which hurts users and developers alike."
Persons: Alex Saunders, Saunders, Philipp Zentner, bitcoin –, Duncan Ash, Michael Bloom Organizations: BTC, Citi, ETH, Metrics, Securities and Exchange Commission Locations: U.S
Ether on Tuesday continued its march higher as the price of bitcoin took a breath. Bitcoin rose 1% to $68,833.45 and hit a record high above $69,000. "As has often happened in the past, bitcoin approaching record highs has caused a trickledown effect of adoption elsewhere in the ecosystem." With bitcoin up 19% in the past week, meme coins have gained about 175% in the same period, according to CoinGecko. Analysts point to them as evidence that retail investors, who have been absent for much of the recent crypto rally, are starting to return to the crypto market.
Persons: bitcoin, bitcoin's, Philipp Zentner Organizations: Metrics Locations: Bitcoin
Here's a roundup of recent recession warnings from six experts:This story is available exclusively to Business Insider subscribers. Jamie Dimon, JPMorgan Chase CEOAdvertisementThere's a long history of investors being caught off guard by sudden downturns, Dimon told CNBC this week. AdvertisementSteve Hanke, Johns Hopkins professorThe US economy is headed for a recession if history is any indication, Hanke told Business Insider this week. AdvertisementPaul Dietrich, B. Riley Wealth Management's chief investment strategist"We're still on the path to recession," Dietrich told Business Insider in a recent interview. AdvertisementJeffrey Gundlach, DoubleLine Capital CEO"I think recession is closer than most people think," Gundlach said in a recent YouTube video.
Persons: , Jamie Dimon, There's, Dimon, David Solomon, Goldman Sachs, Solomon, Ellen Zentner, Morgan Stanley's, Zentner, Steve Hanke, Johns Hopkins, Hanke, Paul Dietrich, Riley Wealth, We're, Dietrich, Jeffrey Gundlach, Gundlach Organizations: Service, Federal Reserve, Business, JPMorgan, CNBC, UBS, DoubleLine Locations: American, Russia, Ukraine, Israel
The ending is abrupt, but Apple's EV ambitions weren't easily realized. AdvertisementNurPhoto/Getty, Tyler Le/BIApple's departure shows how challenging the once red-hot EV market has become. In the long run, Apple's exit could even be spun as a win for the EV market. Less competition is rarely good, but some of Apple's employees could land at rival EV makers, providing a much-needed boost. OpenAI fires back at The New York Times.
Persons: Donald Trump, Nikki Haley, Tyler Le, Aaron Mok, weren't, Elon Musk, That's, Rivian, Spencer Platt, Mislav Matejka, Morgan Stanley's, Ellen Zentner, Zentner, Jamie Dimon, he's, Slaven, Jenny Chang, Rodriguez, Satya Nadella, It's, Reddit, isn't, Wendy's, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb Organizations: Republican, Apple, Bloomberg, Tesla, EV, Getty, Elon, Google, Microsoft, The New York Times, Times, Paramount, HP Locations: Michigan, China, New York, London
A key recession signal has been flashing for 16 months, but the other half of a downturn is missing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The firm pointed out that the spread between the 10-year and three-month treasury yields has been inverted for 16 months. Advertisement10-year minus 3-month Treasury yields from 1982 Federal Reserve Bank of St. LouisThat said, the inverted curve only accounts for 50% of a solid recession call. Meanwhile, Morgan Stanley's chief economist, Ellen Zentner, warned that a "hard landing" downturn is guaranteed as the impact of Fed rate hikes still hasn't been felt fully throughout the economy.
Persons: , Louis That, Jamie Dimon, Morgan Stanley's, Ellen Zentner Organizations: Service, DataTrek Research, Treasury, Reserve Bank of St, Fed, JPMorgan Locations: downturns, Kuwait
A hard landing is guaranteed for the US Morgan Stanley's chief US economist. That's because the full impacts of Fed tightening haven't been fully felt in the economy. It could take 18 months after the last rate hike to feel the full weight of higher rates, economists say. Zentner is expecting the US to avoid a recession this year, as there's no data to support a soon-to-come downturn. AdvertisementStill, signs point to the Fed keeping interest rates elevated as it keeps an eye on inflation.
Persons: US Morgan Stanley's, Ellen Zentner, Morgan Stanley's, Zentner, Jamie Dimon's Organizations: US, Federal Reserve, CNBC, Analytics, Bank, Investors
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExpect temporary inflation acceleration, says Morgan Stanley's Ellen ZentnerEllen Zentner, Morgan Stanley chief U.S. economist, joins 'The Exchange' to discuss the Fed's rate timeline, the likelihood of a soft landing and more.
Persons: Morgan Stanley's Ellen Zentner Ellen Zentner, Morgan Stanley
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley's Ellen Zentner weighs in on the latest U.S. inflation reportEllen Zentner from Morgan Stanley says the Fed won't cut rates till mid this year given hotter-than-expected inflation data. She adds that spending from wealthy households in the U.S. is still strong because white collar layoffs are not happening yet.
Persons: Morgan, Ellen Zentner, Morgan Stanley Locations: U.S
Traders have moved out the probability of a March easing from around 90% in recent weeks to a coin-flip in the days leading up to this week's Federal Open Market Committee meeting to about a 1-in-3 chance Thursday. That's not to say the market still doesn't think the committee will cut rates sharply this year, but any dialing back now probably won't come quite as soon as expected. For the most part, Wall Street commentary showed an expectation that the Fed will cut at least four times this year, likely beginning in either May or June. "As inflation falls, real rates become more restrictive, and we think gaining consensus to cut will be easier." Most of Wall Street expects the FOMC to skip November, as the meeting falls the same week as the U.S. presidential election.
Persons: Jerome Powell, That's, Matthew Luzzetti, FOMC, Morgan Stanley, Ellen Zentner, Goldman Sachs, Goldman, Powell, David Mericle, Michael Gapen, Marc Giannoni, — CNBC's Michael Bloom Organizations: Traders, Deutsche Bank, Dow Jones, Fed, Wall, U.S, Bank of America, Barclays
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