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"I expect rates may have to stay higher, and for longer, than previous projections had suggested," said Collins. San Francisco Fed President Mary Daly and Minneapolis Fed President Neel Kashkari are scheduled to make remarks later on Friday as the Fed's "blackout" period on post-meeting policy comments lifted. The central bank's decision to hold its benchmark overnight interest rate steady this week was unanimous. Collins does not currently have a vote on rate policy under a Fed system that rotates votes among the 12 reserve bank presidents year by year. New projections issued at the end of a two-day policy meeting on Wednesday showed 12 of 19 Fed officials expect one additional quarter point rate increase this year.

Persons: Dado Ruvic, Michelle Bowman, Susan Collins, Collins, Mary Daly, Neel Kashkari, Bowman, Howard Schneider, Paul Simao, Andrea Ricci Organizations: REUTERS, Rights, . Federal, Independent Community Bankers of, Maine Bankers Association, Boston, Fed, San Francisco Fed, Minneapolis Fed, Thomson Locations: Independent Community Bankers of Colorado

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. "The prospect of rates staying higher for longer has given investors a lingering headache," said Russ Mould, investment director at AJ Bell. "Many had hoped we would approach the end of 2023 with a clearer picture on when rates will start to be cut." ET, Dow e-minis were up 36 points, or 0.1%, S&P 500 e-minis were up 11 points, or 0.25%, and Nasdaq 100 e-minis were up 68.5 points, or 0.46%. Wayfair (W.N) rose 2.6% after Bernstein upgraded the online furniture retailer to "market perform" from "underperform", citing improving revenue growth and margins.

Persons: Brendan McDermid, dampening, Russ Mould, AJ Bell, Neel Kashkari, Lisa Cook, Li Auto, Alibaba, Bernstein, Ankika Biswas, Shristi, Anil D'Silva, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Activision, Microsoft, Dow, Nasdaq, U.S, Treasury, Apple, Nvidia, P Global, PMI, Minneapolis, Detroit, Dow e, PDD Holdings, Baidu, Hong, Thomson Locations: New York City, U.S, Hong Kong, Bengaluru

☆ Morning Bid: Edgy market calm after worst day of 2023
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +5 min

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., U.S., June 14, 2022. World stocks captured by MSCI's all-country index (.MIWD0000PUS) recorded their worst day of the year so far - dropping 1.69%. The yen fell back again but the dollar/yen rate remained below Thursday's 2023 high of 148.45. The pound hit its lowest level since March and 10-year British gilt yields fell to their lowest level since July. Elsewhere, oil prices nudged higher again on Friday as concerns that a Russian ban on fuel exports could tighten global.

Persons: Sarah Silbiger, Mike Dolan Punch, Rupert Murdoch, Lisa Cook, Susan Collins, Neel Kashkari, Mary Daly Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Bank of Japan, Fed, European Central Bank and Bank of England, Treasury, Sterling, of, Activision Blizzard, Markets Authority, Ubisoft, Cisco Systems, Cisco, Fox Corp, News Corp, JPMorgan, Federal Reserve, Boston, Minneapolis Fed, San Francisco Fed, Reuters Graphics Reuters, Reuters, Thomson Locations: Washington ,, U.S, Australia, Britain, United States, India

☆ Swiatek pulls out of Guadalajara
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +1 min

Swiatek had said she needed a reset after her 75-week run as world number one came to an end. "Unfortunately I need to withdraw from the tournament in Guadalajara due to a change of schedule," Swiatek posted on social media platform X. French Open champion Swiatek, who was set to make her debut in the Sept. 17-23 Guadalajara tournament, said she would return to action in Tokyo at the start of next month. U.S. Open champion Coco Gauff, defending Guadalajara champion Jessica Pegula, 2022 runner-up Maria Sakkari and Tunisia's Ons Jabeur have all entered the Mexico event. Reporting by Shrivathsa Sridhar in Bengaluru; editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Iga Swiatek, Slovenia's Kaja Juvan, Brendan Mcdermid, Swiatek, Jelena Ostapenko, Coco Gauff, Jessica Pegula, Maria Sakkari, Shrivathsa Sridhar, Mark Heinrich Our Organizations: Slovenia's Kaja Juvan REUTERS, U.S, Thomson Locations: Flushing Meadows , New York, United States, Guadalajara, Belarus, Tokyo, Mexico, Bengaluru

☆ Swiatek survives Zheng scare to reach Cincinnati quarter-finals
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

Aug 17 (Reuters) - Iga Swiatek used an outfit change to help her reset after a poor start and beat China's Zheng Qinwen 3-6 6-1 6-1 on Thursday and set up a Cincinnati Open quarter-final clash with Wimbledon champion Marketa Vondrousova. "Honestly, it's because of my coach," Swiatek said about her outfit change. "I thought this was a bad (idea) but I tried this time and it worked, so thank you coach." Awaiting Swiatek in the next round will be Vondrousova, who converted four of five break points during a 7-5 6-3 victory over Sloane Stephens. Greek eighth seed Maria Sakkari also advanced with a 3-6 6-2 6-3 win over Czech Karolina Muchova.

Persons: Swiatek, China's Zheng Qinwen, Marketa Vondrousova, Zheng, Sloane Stephens, Elena Rybakina, Jasmine Paolini, Maria Sakkari, Czech Karolina Muchova, Frank Pingue, Ed Osmond Organizations: Cincinnati, Wimbledon, U.S, Czech, Thomson Locations: Toronto

☆ Regional banks slide after Fed's Kashkari advocates 'significantly further' capital regulation
▼ + stars: | 2023-08-15 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Neel Kashkari, President and CEO of the Federal Reserve Bank of Minneapolis, speaks during an interview with Reuters in New York City, New York, May 22, 2023. Minneapolis Federal Reserve President Neel Kashkari favors getting tougher on regional banks, following a crisis earlier this year that he said may not be over. Regional bank shares fell as Kashkari spoke. Those banks holding longer-dated Treasurys faced capital losses as rates went up and bond prices fell. Should the Fed have to keep raising rates, that could affect banks in the same situation.

Persons: Neel Kashkari, Kashkari, Treasurys Organizations: Federal Reserve Bank of Minneapolis, Reuters, Minneapolis Federal, Regional Banking, Troubled Asset Relief, Bank Locations: New York City , New York, Minneapolis

☆ Morning Bid: Dollar swoons in upbeat inflation vigil
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike DolanWorld markets leaned positively into another critical U.S. inflation report later on Wednesday, seeding a dollar (.DXY) slide to two-month lows that's revved-up yen and sterling gains. And June's CPI readout should be a marker if the consensus forecast for almost a full percentage-point drop in the headline inflation rate to two year lows of just 3.1% is borne out. Still, encouraged by a screed of other positive disinflation signals this week, U.S. markets are relatively buoyant going into the release and still feel the end of the Fed rate rise campaign is nigh. UK bank stocks pushed higher on the rates view and a relatively clean bill of health from Wednesday's financial stability report from the BOE. The Reserve Bank of New Zealand paused its long-running rate rise campaign early on Tuesday.

Persons: Mike Dolan, BOE, Thomas Barkin, Raphael Bostic, Neel Kashkari, Loretta Mester, Joe Biden, Nick Macfie Organizations: Federal Reserve, Fed, yearend, Treasury, Bank of Japan, Bank of, recoiling, Reserve Bank of New Zealand, Bank of Canada, Japan's Nikkei, Microsoft, Activision, Richmond Federal, Atlanta Fed, Minneapolis Fed, Cleveland Fed, NATO, . Treasury, Reuters, Reuters Graphics, Thomson Locations: U.S, Asia, Shanghai, Hong Kong, British, Vilnius

☆ In the Market: Amid the calm, the Fed brews the next storm
▼ + stars: | 2023-05-29 | by ( Paritosh Bansal | ) www.reuters.com time to read: +4 min

Earlier this month, Chairman Jay Powell said the Fed's monetary policy and financial stability tools were "working well together," allowing it to support banks and pursue price stability. But several people in the market believe not only is the regional banking sector still under stress, multiple other risks to financial stability also remain. Tighter monetary policy could well cause them to blow up or worsen the impact of other shocks, such as debt ceiling negotiations. "The Fed has no desire to conduct monetary policy through financial crises," said Wendy Edelberg, director of The Hamilton Project at the Brookings Institution. In its most recent financial stability report earlier this month, the Fed listed several areas of concern, including life insurance and some types of bond and loan funds.

☆ 'Close call' on US June rate hike or pause, says Fed's Kashkari-CNBC
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +1 min

May 22 (Reuters) - Minneapolis Federal Reserve President Neel Kashkari said on Monday it was a "close call" on whether he would vote to raise interest rates at the central bank's meeting next month or take a pause and leave rates where they are. Speaking on CNBC, Kashkari also said services inflation remains "pretty darn entrenched" and that "it may be that we have to go north of 6%" to get it back to the Fed's 2% target. The Fed raised interest rates for a 10th straight meeting earlier this month, lifting its benchmark overnight rate to a range of 5% to 5.25%. If SVB and the other banks that recently collapsed had "had significantly more equity capital, their depositors would have been reassured because the banks could have absorbed their market-to-market losses," Kashkari wrote. Reporting By Dan Burns; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Fed's Kashkari open to holding rates steady in June, WSJ reports
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +1 min

"I'm open to the idea that we can move a little bit more slowly from here," the newspaper quoted Kashkari as saying in a Friday interview that was published on Sunday. However Kashkari, a member of the central bank's rate-setting monetary policy committee, cautioned that his mind was not yet made up: "I would object to any kind of declaration that we're done." While inflation has shown signs of moderating since the summer of 2022, it remains well above the Fed's 2% target. The Fed has faced calls to refrain from further tightening to lessen the risk of driving the U.S. economy into recession. Reporting by Juby Babu in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Treasury yields fall as investors weigh Fed rate policy path
▼ + stars: | 2023-05-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Yields and prices move in opposite directions and one basis point is equivalent to 0.01%. U.S. Treasury yields declined on Tuesday as investors assessed what could be next for Federal Reserve interest rates following a slew of comments from central bank officials. Investors looked to comments from Fed officials and economic data as they weighed what could be next for interest rate policy and whether the U.S. economy is likely to contract. That comes after last week's inflation data, which was slightly below expectations, led many investors to hope for rate cuts in the second half of the year. Concerns about elevated rates dragging the U.S. economy into a recession have grown louder in recent weeks.

"And as Washington leaks out increments with rolling disclosure about how the discussions are proceeding ... that probably is bolstering confidence in investors." ET, Dow e-minis were up 51 points, or 0.15%, S&P 500 e-minis were up 7.5 points, or 0.18%, and Nasdaq 100 e-minis were up 20.75 points, or 0.15%. Atlanta Fed President Raphael Bostic said on Monday he does not expect any interest-rate cuts this year as he does not see inflation going down as fast as market participants believe. Chicago Fed President Austan Goolsbee, Minneapolis Fed President Neel Kashkari and Fed Board Governor Lisa Cook are among other Fed officials set to speak later in the day. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Morning Bid: Markets await US banks' take on credit squeeze
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Wayne Cole. In the meantime, everyone is waiting for the Federal Reserve's Senior Loan Officer Opinion Survey, or 'SLOOS', to see just how much lending has tightened given the strife in U.S. regional banks. The last survey out in January showed a combined 44.8% of respondents saw a tightening of standards for large and middle-market firms. It would also be consistent with levels reached before or during the last four recessions - 1990-91, 2001, 2007-09 and early 2020. This week also sees Chinese data on inflation and trade, while G7 finance ministers meet in Niigata, Japan, from Thursday through Saturday.

☆ Oil heads for third straight weekly loss as economic worries persist
▼ + stars: | 2023-05-05 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +2 min

May 5 (Reuters) - Oil prices held steady in early trading on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. For the week, Brent was set to close down 8.7%, while WTI was set to close 10.5% lower. Worries of a U.S. regional banking crisis persisted, worrying markets further, after PacWest Bancorp (PACW.O) said it planned to explore strategic options. Traders are now focused on the release of U.S. employment data for April later in the day, hoping it could help gauge the health of the economy, as well as comments on monetary policy from St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari at the Economic Club of Minnesota. Reporting by Arathy Somasekhar; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Oil ticks up, but set for third week of losses over demand concerns
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose slightly in Asian morning trade on Friday, but were set for a third straight week of losses after markets witnessed dramatic drops on fears of a weakening U.S. economy and slowing Chinese demand. For the week, Brent was set to close down 8.5%, while WTI was set to close 10.3% lower. "It has been a double whammy for oil prices," said Jun Rong Yeap, a market strategist at IG in Singapore. In China, factory activity unexpectedly contracted in April as orders fell and poor domestic demand dragged on the sprawling manufacturing sector. Service activity in China grew through April, though the rate of this expansion has slowed, data showed on Friday.

The path to the pause will roll out in marquee monthly data on the key topics of jobs and prices, but also weekly series tracking emerging concerns about the financial industry. Here's a guide to what's ahead:JOBS: Next release May 5The data calendar will let the Fed receive two monthly jobs reports, covering April and May, before its June 13-14 policy meeting. For the Personal Consumption Expenditures price index, the measure used to set the Fed's 2% inflation target, only the April report will be available. Reuters Graphics Reuters GraphicsReuters GraphicsFEDSPEAK: OngoingThe Fed's internal communications rules set a "blackout" period around each policy meeting. The curtain of silence around the May meeting lifts on Friday, May 5, and Fed officials can speak publicly about their views through Friday, June 2.

☆ Stock futures are little changed as investors come off winning day: Live updates
▼ + stars: | 2023-03-29 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Traders work on the floor of the New York Stock Exchange (NYSE) on February 27, 2023 in New York City. Stock futures were little changed Wednesday night. S&P 500 futures and Nasdaq-100 futures were also near their flatlines. Regional banks, closely followed since Silicon Valley Bank's collapse earlier this month, also finished the session higher, with the SPDR S&P Regional Banking ETF (KRE) adding around 1%. Boston Federal Reserve President Susan Collins, Richmond Fed President Thomas Barkin and Minneapolis Fed President Neel Kashkari are all slated to speak in the afternoon.

Wall Street posted solid gains on Wednesday as volatility slumped to its lowest since the U.S. banking tremors were first felt three weeks ago. While bond yields inched up, bond market volatility also fell and fixed income markets were pretty calm. The rate-sensitive Nasdaq jumped 1.8% for its best day in two weeks, boosted by positive tech company outlooks. The MSCI World financials index is now up three days in a row and the U.S. regional banking index has risen for four straight days, neither of which have been recorded since January. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Fed's Kashkari says stress in banking sector brings the U.S. closer to recession
▼ + stars: | 2023-03-27 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

"What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch, just as you said, would then slow down the economy," Minneapolis Fed President Neel Kashkari said in an interview with CBS' Face The Nation. "What's unclear for us is how much of these banking stresses are leading to a widespread credit crunch. And then that credit crunch, just as you said, would then slow down the economy," he said. "But right now, it's unclear how much of an imprint these banking stresses are going to have on the economy.

☆ The Earth has tilted on its axis differently over the last few decades due to melting ice caps
▼ + stars: | 2023-03-21 | by ( Aylin Woodward | Marianne Guenot | ) www.businessinsider.com time to read: +7 min

Earth's axis — the invisible line around which it spins — is bookended by the north and south poles. But their geographic locations aren't fixed: As the Earth's axis moves, so do the poles. If you average out thousands of years of observation the Earth's axis points in a single direction — toward the North Star, also known as Polaris. The recent change to Earth's axis won't affect our everyday lives, but it could slightly tweak the length of our days. But let's be clear that this would be a tiny, tiny, tiny effect," he said.

☆ Rybakina knocks out defending champion Swiatek to reach Indian Wells final
▼ + stars: | 2023-03-18 | by ( ) www.reuters.com time to read: +3 min

March 17 (Reuters) - Elena Rybakina knocked out defending champion Iga Swiatek with a 6-2 6-2 semi-final victory at Indian Wells on Friday to set up a clash against Aryna Sabalenka in the final. Two months after Rybakina knocked Swiatek out of the Australian Open in the fourth round, the Wimbledon champion once again put in an impressive display against the world number one. Rybakina was in control from the start, breaking early to take a 2-0 lead, before going on to clinch the first set when Swiatek produced a double fault on set point. "I really played well today, it was a really nice atmosphere tonight," Rybakina said in her on-court interview. Rybakina will be out for revenge when she faces Sabalenka, who defeated her in the Australian Open final in January.

☆ Morning Bid: The Powell Put
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Wayne Cole. Wall Street must be hoping Federal Reserve Chair Jerome Powell would speak in public every day. Given a chance to react hawkishly to the bumper January payrolls report, Powell demurred and chose to stay boringly balanced on the rate outlook. Asked if he regretted using "disinflation" 11 times in his media conference last week, he said no, he would do the same again. Hardly earth shattering stuff, but for markets these days if Powell is not all-out in-your-face hawkish, then he's dovish.

Fed Chair Jerome Powell has spoken and luckily for bulls and bears, there was something for everyone, so where Asian markets go on Wednesday is something a coin flip. With an expected interest rate rise in India taking center stage regionally, investors in Asia will be digesting the mixed U.S. picture that saw stocks rise but the dollar and Treasuries ease lower on Tuesday. But he also said "it will take some time" to get the inflation genie back in the 2% bottle. The Reserve Bank of India is likely to raise its key interest rate by 25 basis points to 6.50%, which most economists reckon will be the last of the hiking cycle. With the rupee within a whisker of October's record low, however, traders will be on RBI intervention alert.

"It tells me that so far, we're not seeing much of an imprint ... on the labor market," Kashkari said. Bond yields have rocketed higher and interest rate futures markets now are squarely priced for a federal funds rate reaching at least 5.1%. LABOR MARKET CONCERNSOn Monday, Atlanta Fed President Raphael Bostic was one of those who said the central bank may need to lift borrowing costs higher than previously anticipated given the job gains. "We've seen no progress so far, virtually no progress in core services ex housing, and that's very tied to the labor market." Reporting by Lindsay Dunsmuir; Editing by Andrew Heavens, Chizu Nomiyama, Andrea Ricci and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

☆ Inflation: Fed's Neel Kashkari says prices are still too high
▼ + stars: | 2023-02-07 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

New York CNN —Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, understands that consumers are still struggling to deal with high prices. Kashkari told CNN’s Poppy Harlow Tuesday that he knows first hand how expensive many consumer goods and services are. Job market strength fueling more inflationKashkari acknowledged that inflation pressures are easing, but said the Fed is still not comfortable with how high prices are, particularly for services. He told Harlow he’s penciling in short-term rates as high as 5.4% before pausing. It’s hard to have a recession when the job market is still so robust, he told Harlow.

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