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☆ Inflation: Is the Fed losing the war?
▼ + stars: | 2022-10-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

“This inflation report today was an unmitigated disaster,” wrote Christopher S. Rupkey, chief economist at Fwdbonds, a financial markets research company. Is the Fed losing the fight against inflation? But the effects of rate hikes can take months to be felt in the real economy. But the Fed is “losing the war” when it comes to price hikes for the services sector. Ultimately, some say the problem of pandemic-era inflation is just too complex to be fixed with the Fed’s blunt tools.

☆ The Fed is losing the war against inflation
▼ + stars: | 2022-10-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

☆ Fed officials worried about ending inflation battle prematurely, minutes show
▼ + stars: | 2022-10-12 | by ( ) www.reuters.com time to read: +5 min

The minutes of the Sept. 20-21 meeting showed many U.S. central bank officials "emphasized the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action." At the meeting, many officials said they had raised their assessments of the path of interest rate increases that would likely be needed to achieve the policy-setting committee's goals. At last month's meeting, Fed officials raised interest rates by three-quarters of a percentage point for the third straight time in an effort to drive inflation down from 40-year highs, and Fed Chair Jerome Powell vowed afterward that they would "keep at it until we're confident the job is done." A few of those, the minutes said, noted that risk was heightened by the potential headwinds from tighter monetary policy and weaker growth globally. Fed officials have openly pushed back on that expectation, saying they expect to leave rates elevated for some time after they have finished lifting them.

☆ The Fed only cares about inflation. That's bad news
▼ + stars: | 2022-10-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +5 min

It seems that Powell wants to atone for his mistake of repeatedly calling inflation “transitory” for much of last year. Keep in mind that the Fed’s series of rate hikes are unprecedented in the “modern” era of central banking, i.e. after Alan Greenspan became Fed chair in 1987 and the Fed became far more transparent. Rate hikes raise the costs for companies to pay down their debt, increasing the possibility of corporate bankruptcies and defaults on commercial loans. As long as inflation remains the bigger issue for the economy, the Fed is going to focus more on getting prices under control.

☆ A weed gummy theory for the Fed’s high-stakes interest rate gamble
▼ + stars: | 2022-10-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Here’s the thing: The Fed right now is wearing blinders, and it only cares about bringing down inflation, my colleague Paul R. La Monica writes. The Weed Gummy TheoryThere’s an analogy offered by investment analyst Peter Boockvar last month that I can’t stop thinking about. He compared the Fed to an eager but inexperienced consumer of weed gummies, which, notoriously, take longer than anyone expects to kick in. Bankruptcies: Rate hikes make it more expensive for companies to pay down debt, increasing the risk of corporate bankruptcies and defaults. The so-called PPI, which tracks what suppliers charge other businesses for goods and services, showed prices going up 8.5% from a year ago.

☆ U.S. faces 'larger-than-usual' risks in inflation battle, OECD says
▼ + stars: | 2022-10-12 | by ( Lindsay Dunsmuir | ) www.reuters.com time to read: +3 min

A woman shops for groceries at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. "Inflation may prove surprisingly persistent, prompting more aggressive tightening of monetary policy," the Paris-based intergovernmental organisation said. There is rising concern among investors that the speed of Fed rate increases is stressing the global economy and outrunning the central bank's ability to monitor the effect it is having. The International Monetary Fund on Tuesday cut its global growth forecast for 2023 and forecast that a third of the world economy will likely contract by next year. "Nonetheless, considerable flexibility is warranted and policy deliberations will benefit from careful monitoring of the impact," of the global factors driving up inflation, the OECD said, as well as "the tightening of financial conditions on the economy."

☆ Oil prices inch lower as dollar firms, China COVID worries dent demand
▼ + stars: | 2022-10-11 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

Brent crude futures fell 27 cents, or 0.3%, to $95.92 a barrel by 0342 GMT, after falling $1.73 in the previous session. U.S. West Texas Intermediate crude was at $90.73 a barrel, down 40 cents, or 0.4%, after losing $1.51 in the previous session. A strong greenback reduces demand for oil by making it more expensive for buyers using other currencies. The sustained zero COVID-19 policy in China ahead of the Communist Party Congress is "not helping" demand, the analysts added. EU sanctions on Russian crude and oil products will take effect in December and February, respectively, while the bloc last week gave its final approval for a new batch of sanctions against Russia including a price cap on Russian oil exports.

☆ Gold flat as firm dollar, U.S. rate-hike outlook dent appeal
▼ + stars: | 2022-10-11 | by ( ) www.cnbc.com time to read: +1 min

Gold products are on display in front of a jewellery store at a shopping area in Elazig, Turkiye. Gold prices were flat on Tuesday, pinned near a one-week low hit in the previous session, as a firmer dollar and the prospect of further oversized rate hikes by the U.S. Federal Reserve sapped the zero-yielding asset's appeal. Spot gold was flat at $1,668.29 per ounce, as of 0143 GMT. While gold is considered a hedge against inflation and economic uncertainties, rising interest rates reduce appeal for the asset, which pays no interest. Spot silver fell 0.4% to $19.57 per ounce, platinum dipped 0.1% to $897.50 and palladium rose 0.2% to $2,176.00.

☆ Oil prices slide as dollar strengthens, China Covid-19 woes dampen demand
▼ + stars: | 2022-10-11 | by ( ) www.cnbc.com time to read: +3 min

Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in Covid-19 cases in China increased fears of slowing global demand. Brent crude futures fell 57 cents, or 0.6%, to $95.62 a barrel by 0031 GMT, after falling $1.73 in the previous session. U.S. West Texas Intermediate crude was at $90.58 a barrel, down 55 cents, or 0.6%, after losing $1.51 in the previous session. A strong greenback reduces demand for oil by making it more expensive for buyers using other currencies. The sustained zero Covid-19 policy in China ahead of a Communist Party congress is "not helping" demand, the analysts added.

☆ Oil prices slide as dollar strengthens, China COVID-19 woes dampen demand
▼ + stars: | 2022-10-11 | by ( Isabel Kua | ) www.reuters.com time to read: +3 min

Companies Exxon Mobil Corp FollowSINGAPORE, Oct 11 (Reuters) - Oil prices fell on Tuesday, extending nearly 2% losses in the previous session, as a stronger U.S. dollar and a flare-up in COVID-19 cases in China increased fears of slowing global demand. Brent crude futures fell 57 cents, or 0.6%, to $95.62 a barrel by 0031 GMT, after falling $1.73 in the previous session. U.S. West Texas Intermediate crude was at $90.58 a barrel, down 55 cents, or 0.6%, after losing $1.51 in the previous session. A strong greenback reduces demand for oil by making it more expensive for buyers using other currencies. The sustained zero COVID-19 policy in China ahead of a Communist Party congress is "not helping" demand, the analysts added.

☆ Where stocks are finding some support ahead of Thursday’s inflation report
▼ + stars: | 2022-10-11 | by ( Michael Santoli | ) www.cnbc.com time to read: +3 min

This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. This could simply be a matter of short-term oversold conditions, a pause in the bond-yield surge and general hesitation ahead of a crucial-seeming CPI report Thursday. There's some focus on the S & P 500's 200-week (1,000-day) moving average offering an excuse for some support here, as it did at the end of 2018. Forecasts have come in a lot (S & P 500 consensus down 7 percentage points ex-energy since July), but it's unclear if that's enough. VIX is sticky in the low-30s, a pretty agitated state, and likely will stay inflated into/through Thursday's CPI report.

☆ Nasdaq registers lowest close since July 2020; chips stocks fall
▼ + stars: | 2022-10-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

People are worried about a possible recession," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. Analyst now expect year-over-year earnings for S&P 500 companies to have risen 4.1% in the quarter, compared with an increase of 11.1% expected at the beginning of July, according to IBES data from Refinitiv. S&P 500 technology (.SPLRCT) led sector declines along with energy (.SPNY). Declining issues outnumbered advancing ones on the NYSE by a 2.43-to-1 ratio; on Nasdaq, a 1.79-to-1 ratio favored decliners. The S&P 500 posted 1 new 52-week highs and 73 new lows; the Nasdaq Composite recorded 58 new highs and 461 new lows.

Register now for FREE unlimited access to Reuters.com Register"There is clarity that monetary policy will be restrictive for some time, until there is confidence inflation comes down. The (Federal Open Market) Committee has said policy rates will increase further," Brainard said. But "we also will be learning as we go and that assessment will reflect incoming data and also risks domestically and globally ... The Fed has raised rates rapidly this year, using three-quarter point increments of late to bring the target federal funds rate to a range between 3% and 3.25%. "We're headed for this four and a half percent-ish federal funds rate by March," Evans said, with little time left for data to shift officials' views.

☆ Morning Bid: The song remains the same
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +2 min

Russia's bombing of Kyiv and other Ukrainian cities on Monday darkened what was already a pretty bleak mood across world markets, and investors will be hoping something somewhere eases the selling pressure on Tuesday. Register now for FREE unlimited access to Reuters.com RegisterUnfortunately, nothing obvious jumps out. Asian assets suffered more - the MSCI Asia ex-Japan equity index fell 2%, and several currencies in the region weakened sharply. The Biden administration's proposals include measures to cut off China from certain semiconductors made anywhere in the world with U.S. equipment. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Oil falls by nearly 2% as recession fears outweigh tight supply prospects
▼ + stars: | 2022-10-10 | by ( Laila Kearney | ) www.reuters.com time to read: +4 min

Both benchmarks had risen over the previous week largely on expectations of tightening global supply. Oil prices fell amid comments from U.S. Federal Reserve officials about rising interest rates and their effect on the economy. Oil prices also struggled under a strengthening U.S. dollar , which rose for a fourth session. The prospect of tightening OPEC+ oil supplies limited declines in prices. read moreThe complicated new sanctions package could end up shutting in considerable supplies of Russia crude, analysts have warned.

☆ Wall Street falls with tech shares, investors assess rate outlook
▼ + stars: | 2022-10-10 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

read moreRegister now for FREE unlimited access to Reuters.com Register"People are worried about the economy. People are worried about a possible recession," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. The U.S. third-quarter earnings season is set to kick off on Friday, with results from some of the major banks. The Dow Jones Industrial Average (.DJI) fell 41.55 points, or 0.14%, to 29,255.24, the S&P 500 (.SPX) lost 23.05 points, or 0.63%, to 3,616.61 and the Nasdaq Composite (.IXIC) dropped 95.65 points, or 0.9%, to 10,556.75. Investors also awaited inflation reports through the week, including consumer prices data, which is expected to have likely risen last month.

☆ Fed’s Brainard Says Rate Rises Will Slow Economy Over Time
▼ + stars: | 2022-10-10 | by ( Nick Timiraos | ) www.wsj.com time to read: 1 min

A senior Federal Reserve official cautioned it would take time for the central bank’s rapid rate rises this year to reduce inflation that has reached 40-year highs. “Monetary policy will be restrictive for some time to ensure that inflation moves back” to the central bank’s 2% target, said Fed Vice Chairwoman Lael Brainard in remarks prepared for delivery Monday. “It will take time for the cumulative effect of tighter monetary policy to work through the economy and to bring inflation down,” she said.

CHICAGO, Oct 10 (Reuters) - Tighter U.S. monetary policy has begun to be felt in an economy that may be slowing faster than expected, but the full brunt of Federal Reserve interest rate increases still won't be apparent for months, Fed Vice Chair Lael Brainard said Monday. Still, the Fed vice chair gave no indication that economic weakness was at a point where it would change Fed plans to continue raising interest rates. "Uncertainty remains high, and I am paying close attention to the evolution of the outlook as well as global risks," that could stress financial markets Brainard said. Still "monetary policy will be restrictive for some time to ensure that inflation moves back to target over time," Brainard said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Howard Schneider; Editing by Andrea RicciOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Dollar feeds on stress
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +3 min

And as a fourth 75 basis-point Fed rate hike is now fully priced yet again, the dollar's DXY index climbed again - and traders started to eye year-end trading stress too. read more read moreWith last week's warning from Advanced Micro Devices (AMD.O) and Micron Technology (MU.O) ringing in the ears, the chip sector shivered into the new week. The measures could amount to the biggest shift in U.S. policy on exporting technology to China since the 1990s. Returning after a week of closures, the broad Shanghai stock index was down 1.6%, Hong Kong was down almost 3% and the offshore yuan weakened against the dollar. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Stocks sink after JPMorgan Chase CEO Jamie Dimon warns of recession
▼ + stars: | 2022-10-10 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +2 min

Stocks weren’t doing much Monday morning but took a nasty – albeit brief – turn lower in the afternoon following stark comments from JPMorgan Chase CEO Jamie Dimon, who warned that the United States is likely to enter a recession within the next six to nine months. “You can’t talk about the economy without talking about stuff in the future…and this is serious stuff,” Dimon said in the CNBC interview. He added that he thinks Europe is in a recession already and that the US is probably next. Shares of JPMorgan Chase (JPM), which is one of the 30 stocks in the Dow, were down nearly 1.5%. JPMorgan Chase (JPM) is one of several big banks that will report earnings on Friday.

☆ Morning Bid: China back for dollar thwack
▼ + stars: | 2022-10-09 | by ( ) www.reuters.com time to read: +2 min

Asian trade could be more volatile than usual as China reopens after the Golden Week holiday. Register now for FREE unlimited access to Reuters.com RegisterChina will be very much in focus this week. The Caixin services PMI over the weekend showed that activity contracted in September for the first time since May, and the economic data dump this week includes inflation, trade, and loan growth. Elsewhere in Asia this week the Monetary Authority of Singapore and Bank of Korea are set to raise rates. The BOK has already intervened to support the won, which last week hit a 13-1/2 year low, and the Singapore dollar is also close to a post-2009 low.

☆ Fed's preferred gauge shows inflation accelerated even more than expected in August
▼ + stars: | 2022-09-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

On a year-over-year basis, core PCE increased 4.9%, more than the 4.7% estimate and up from 4.7% the previous month. Including gas and energy, headline PCE increased 0.3% in August, compared with a decline of 0.1% in July. Personal income rose 0.3% in August, the same as July and in line with the estimate. After-tax income increased just 0.1% after rising 0.5% the previous month, while inflation adjusted spending rose 0.1%. Food prices rose 0.8% while energy prices slid 5.5%.

☆ Stock futures are little changed as investors prepare for the S&P 500 to test its June low
▼ + stars: | 2022-09-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on September 06, 2022 in New York City. U.S. equity futures were little changed Sunday evening after surging interest rates and foreign currency turmoil pushed the major averages to near their lows of the year. S&P 500 futures and Nasdaq 100 futures were each lower by 0.1%. The broad-market S&P 500 temporarily broke below its June closing low and ended down 1.7%. On Friday, Goldman Sachs slashed its year-end target for the S&P 500 to 3,600 from 4,300.

☆ Stocks could continue skittish trading until interest rate move calms down
▼ + stars: | 2022-09-23 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

The S & P 500, Dow and Nasdaq were all down sharply for the week. The S & P was down 4.6%, ending the week at 3,693. Fed Vice Chair Lael Brainard , St. Louis Fed President James Bullard , San Francisco Fed President Mary Daly and Fed Governor Michelle Bowman are among the speakers. Other global central banks joined the Fed in raising rates, and interest rates around the world rose in tandem. If those levels break, the S & P could touch 3,385 before the selling is over, he said.

☆ Învestirea lui Joe Biden va avea loc într-un format redus din cauza pandemiei; De obicei, ceremonia atrage mulțimi enorme
▼ + stars: | 2020-11-23 | by ( ) www.jurnal.md time to read: +3 min

Miliardarul încearcă să anuleze rezultatul alegerilor prezidenţiale în mai multe state-cheie, precum Michiganul, unde Biden a obţinut de asemenea o victorie. Joe Biden urmează să devină la 20 ianuarie al 46-lea preşedinte al Statelor Unite. El se gândeşte la alcătuirea Guvernului său şi promite să anunţe marţi ”promele nume”, a anunţat Ron Klain. În privinţa ceremoniei învestirii - care atrage de obicei mulţimi enorme la Washington -, Ron Klain a evocat ”versiuni reduse ale tradiţiilor existente”. Este ceva de sărbătorit”, a declarat Ron Klain.

Persons: Donald Trump, Joe Biden, Miliardarul, Biden, Ron Klain, Statelor Unite . El, Janet Yellen, Sarah Bloom, Atlanta Raphael Bostic, Susan Rice, Antony Blinken, Trump, Cedric Richmond, Biden . Joe Biden Organizations: Casei, Statelor Unite ., Bank, CNN, Albă, NBC News, Colegiul Electoral Locations: corespondenţă, Pennsylvania, Statelor Unite, preşedintă, guvernatoare, Atlanta, Washington, ţară, tranziţie, justiţie, Colegiul

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