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☆ It's possible the Fed will pause rate hikes this time around, professor says
▼ + stars: | 2023-06-07 | 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 EmailIt's possible the Fed will pause rate hikes this time around, professor saysRaghuram Rajan of the University of Chicago Booth says, however, that "the jury is still out" on how much more the U.S. Federal Reserve needs to do to manage inflation.

Persons: Raghuram Rajan, University of Chicago Booth Organizations: University of Chicago, U.S . Federal Reserve

☆ 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.

☆ Zelenskyy appeared to confirm Ukraine is no longer in control of Bakhmut: 'For today, Bakhmut is only in our hearts.'
▼ + stars: | 2023-05-21 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +2 min

Russian forces have been waging a monthslong battle in Bakhmut, a city in eastern Ukraine. The fighting has reduced the city to rubble and claimed thousands of lives. President Volodymyr Zelenskyy appeared to confirm at the G7 summit that Ukraine is longer in control of Bakhmut. During a meeting with President Joe Biden on Sunday at the G7 summit in Hiroshima, Zelenskyy told reporters that he believes Ukraine has lost control of the city. ... For today, Bakhmut is only in our hearts."

☆ Quantitative tightening: What happens when $2 trillion is sucked out of the global economy
▼ + stars: | 2023-05-19 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

“Quantitative tightening,” or QT, by top central banks will suck $2 trillion in liquidity out of the financial system over the next two years, according to a recent analysis by Fitch Ratings. Investors and banks calibrate their strategies to the amount of money in the financial system, he noted. Then, central banks started withdrawing liquidity from the financial system. Even worse, many banks have large holes on their balance sheets because central banks have simultaneously jacked up interest rates. While government debt levels have skyrocketed in recent years, the cost of servicing that debt has been tamped down by the willingness of central banks to buy large chunks of it.

☆ Ukraine's risky gamble in Bakhmut may be paying off as infighting in Russia's ranks threatens its hopes of capturing the city, experts say
▼ + stars: | 2023-05-05 | by ( Jake Epstein | Sinéad Baker | ) www.businessinsider.com time to read: +8 min

The battle has hurt Russian forces, and Wagner Group mercenaries are threatening to pull out. Wagner's withdrawal, however, suggests that Ukraine's risky decision to stay may be paying off, Russia experts told Insider. Ukrainian army snipers change their position facing Russian troops near Bakhmut, Donetsk region, Ukraine, Tuesday, May 2, 2023. Russian forces, including Wagner mercenaries, steadily surrounded Ukrainian positions, leaving only one road out of the city. Ukrainian army Grad multiple rocket launcher fires rockets at Russian positions in the frontline near Bakhmut, Donetsk region, Ukraine, Wednesday, May 3, 2023.

☆ India's ties with Russia remain steady. But Moscow's tighter embrace of China makes it wary
▼ + stars: | 2023-05-03 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

(PRAKASH SINGH/AFP via Getty Images) Prakash Singh | Afp | Getty ImagesIndia's relationship with Russia remains steadfast as both sides seek to deepen their economic ties. Russia also wants to "intensify" free trade discussions with India, Deputy Prime Minister Denis Manturov said during a visit to Delhi. watch nowIt's becoming "more difficult with every passing day because of the closeness that we are witnessing between Beijing and Moscow," Pant noted. This defense cooperation is vital given India's tensions along the Himalayan border with an increasingly assertive China, said ORF's Pant. Now, the country cannot expect Russia to play "the same strategic role for India as it used to prior to the Ukraine war.

☆ Iran seizes second oil tanker in a week in Gulf, US Navy says
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +3 min

DUBAI, May 3 (Reuters) - Iran has seized a second oil tanker in a week on Wednesday in Gulf waters, the U.S. Navy said, the latest escalation in a series of seizures or attacks on commercial vessels in Gulf waters since 2019. In Iran's first response, Tehran's prosecutor announced the oil tanker was seized on a judicial order following a complaint by a plaintiff, the judiciary's Mizan news agency said. The incident comes after Iran on Thursday seized a Marshall Islands-flagged oil tanker in the Gulf of Oman called the Advantage Sweet. The Niovi oil tanker seized on Wednesday had been travelling from Dubai toward the UAE's Fujairah port when it was forced by IRGCN boats to change course towards Iranian territorial waters, the Navy said. Since 2019, there have been a series of attacks on shipping in the strategic Gulf waters at times of tension between the United States and Iran.

☆ University of Chicago's Raghuram Rajan expects the Fed meeting to be dovish
▼ + stars: | 2023-05-01 | 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 EmailUniversity of Chicago's Raghuram Rajan expects the Fed meeting to be dovishRaghuram Rajan, University of Chicago professor, joins 'Closing Bell: Overtime' to discuss the banking sector and its impact on the economy and the next moves from the Fed.

☆ US confiscates Iran oil cargo on tanker amid Tehran tensions
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +3 min

As oil markets remain jittery, the cargo seizure is the latest escalation between Washington and Tehran after years of sanctions pressure by the U.S. over Iran's nuclear program. Tehran says its nuclear program is for civilian purposes while Washington suspects Iran wants to develop a nuclear bomb. Iran has previously responded tit-for-tat following seizures of Iranian oil cargo." Last year the U.S. tried to confiscate a cargo of Iranian oil near Greece, which prompted Tehran to seize two Greek tankers in the Gulf. In a step likely to exacerbate tensions, 12 U.S. senators on Thursday urged President Joe Biden to remove Treasury Department policy hurdles that have prevented the Department of Homeland Security from seizing Iranian oil shipments for more than a year.

Zelensky, who has long expressed interest in speaking with Xi, said he had “a long and meaningful phone call” with the Chinese leader. Wednesday’s phone call is the first time Xi has spoken to Zelensky since Russia invaded Ukraine in February last year. China’s positioning as a mediator was also viewed critically as Xi visited Moscow but had still yet to speak with Zelensky. “Xi Jinping doesn’t want to put political capital behind an effort that then blows up in his face. In this case, this could mean Putin indicated to Xi that he was willing to talk to Kyiv, Menon added.

☆ Economist who called 2008 crisis says more bank collapses are coming
▼ + stars: | 2023-04-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

More bank failures are coming, according to top economist Raghuram Rajan. Rajan, who called the 2008 crisis, warned of more volatility stemming from the Fed's rate hikes. The bank's failure sparked a steep sell-off in regional bank stocks, leading some commentators to warn of a 1980s-style banking crisis. "This sense that the spillover effects of monetary policy are huge and aren't dealt with by ordinary supervision has just escaped our consciousness over the last so many years," Rajan said of central bank policy. But Fed Chair Powell has denied the possibility of a rate cut this year, warning markets that rates would continue remain restrictive through 2023.

☆ Tapping into the future of finance: 3 experts discuss the ways frictionless payments will revolutionize digital banking within the decade
▼ + stars: | 2023-03-29 | by ( Elizabeth Wood | ) www.businessinsider.com time to read: +5 min

Experts share their insights into how frictionless payments are changing the way people engage with online banking. Carter Johnson, senior finance reporter at Insider, spoke with Douglas and other financial experts about frictionless payment systems. Rajan agreed that building loyalty and trust in banking technology and frictionless payment systems requires due diligence. The future of finance is digitalThe experts agree that in the next decade, digital wallets and frictionless payments will be the banking rule, not the exception. Rajan noted that each person is going have a unique way of engaging with frictionless payment systems.

Economists who obsess about tightly calibrating the quantity of money in the system balk at QE as a tool. Two weeks of turmoil in mid-sized U.S. banks follow just nine months in which the Fed had been winding down its outsize balance sheet that peaked near $9 trillion during the pandemic. "Illiquidity episodes may force central banks to slow the process of reserve withdrawal. Reuters GraphicsILLIQUIDTY EPISODESThis could become a trap that prevents normalisation of the balance sheet longer term, they said. Better-measured and more forward-looking liquidity regulations, incentives for longer-duration deposits during QE bouts and rethinking stress tests were all options, they wrote.

☆ Fed's best option is to hike rates by 25 basis points and watch for a month and a half: Professor
▼ + stars: | 2023-03-17 | 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 EmailFed's best option is to hike rates by 25 basis points and watch for a month and a half: ProfessorRaghuram G Rajan of The University of Chicago Booth School, formerly governor of the Reserve Bank of India, says "doing zero would convey inappropriate signals at this point."

☆ European markets expected to open higher after bank lifelines eased crisis fears
▼ + stars: | 2023-03-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

Former Reserve Bank of India Governor Raghuram Rajan thinks it's still too early to tell whether the U.S. rescue plan to stem bank contagion risks has worked. "I think what's happened so far, in terms of the rescues, is sort of done the first aid. The question is — is there a slow bleed that is still going on," he told CNBC's "Street Signs Asia." Rajan, now a professor of finance at The University of Chicago Booth School of Business, noted questions remain around the collapse of Silicon Valley Bank. "How come a mid-size bank was oblivious of interest rate risk?"

☆ Watch CNBC's full interview with Raghuram Rajan, David Bahnsen and Aaron Klein
▼ + stars: | 2023-03-13 | 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 EmailWatch CNBC's full interview with Raghuram Rajan, David Bahnsen and Aaron KleinAaron Klein, senior fellow in economic studies at The Brookings Institute, Raghuram Rajan, professor of finance at the University of Chicago Booth School of Business, and David Bahnsen, founder and chief investment officer of the Bahnsen Group, join 'The Exchange' to discuss the Fed's response to the SVB fallout, bank market risk, and the contagion effect from SVB.

☆ Silicon Valley Bank: What experts think of US regulators response to the fallout
▼ + stars: | 2023-03-13 | 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 EmailSilicon Valley Bank: What experts think of US regulators response to the falloutAaron Klein, senior fellow in economic studies at The Brookings Institute, Raghuram Rajan, professor of finance at the University of Chicago Booth School of Business, and David Bahnsen, founder and chief investment officer of the Bahnsen Group, join 'The Exchange' to discuss the Fed's response to the SVB fallout, bank market risk, and the contagion effect from SVB.

☆ Tesla owners reveal the best and worst features of their cars, and what they really think of Elon Musk
▼ + stars: | 2023-02-11 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

Insider spoke with more than a dozen Tesla owners to learn what they like most and least about their cars. We talked to more than a dozen Tesla owners to find out what they like most about their cars — and what they think needs improvement. Since electric cars don't experience the same acceleration lag as gas vehicles, Teslas jolt forward the instant you put your foot down. Con: Stiff rideSome Model 3 and Y owners told Insider their cars are too stiff and jittery over bumpy pavement. Tim Levin/InsiderOver and over, Tesla owners praised the company's extensive network of fast chargers, which is exclusive to Tesla owners in the US.

☆ Bank of America downgrades Deutsche Bank as it struggles to improve profitability
▼ + stars: | 2023-02-10 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

It's time to sell shares of Deutsche Bank , according to Bank of America. Analyst Rohith Chandra-Rajan downgraded shares to underperform from neutral, as the European bank deals with challenges around profitability. "We see Deutsche Bank struggling to improve profitability as growth is heavily volume reliant, consuming cost and capital resources. Deutsche Bank shares are outperforming this year. The European bank stock is up more than 8% in 2023, better than the S & P 500's 6% gain.

☆ Bill Gates said he'd rather fund vaccines to 'save lives' than go to Mars, but he thinks someday Elon Musk will be a 'great philanthropist'
▼ + stars: | 2023-02-03 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

Bill Gates told the BBC he does not think traveling to Mars is a good use of money. The Bill & Melinda Gates Foundation, the nonprofit founded by Gates and his ex-wife Melinda French-Gates, has put billions of dollars towards researching, developing, and delivering vaccines to the world's poorest countries. Last year, Musk made a $5.7 billion charitable donation in Tesla shares to the Musk Foundation, which he launched with his brother, Kimball Musk, in 2002. Gates and Musk have publicly disagreed in the past, including on COVID-19, how to address climate change, and space travel. Musk and the Bill & Melinda Gates Foundation did not immediately respond to Insider's request for comment.

☆ Bill Gates says he was surprised at being targeted by COVID-19 conspiracy theorists and 'people were looking for a boogeyman'
▼ + stars: | 2023-02-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Bill Gates told the BBC he was surprised by some COVID-19 conspiracy theories. He said he thinks people were "looking for a boogeyman" around vaccines. Several COVID-19 conspiracy theories have surrounded Gates in recent years. Gates has also joked that he was more often the target of conspiracy theories than Anthony Fauci, former chief medical advisor to the president of the United States, because he's more known internationally. Representatives for the Bill & Melinda Gates Foundation did not reply to Insider's request for comment made outside normal working hours.

☆ Bill Gates says Elon Musk's ambition to colonize Mars is not a good use of money
▼ + stars: | 2023-02-03 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Bill Gates questioned whether Elon Musk's current priorities would make him a good philanthropist, taking issue with his fellow billionaire's ambition to send people to Mars. Gates responded saying he doesn't think Musk is one currently but that this may change in future. Asked by BBC journalist Amol Rajan if going to Mars was a good use of money, Gates said: "Not in my view." In April, Musk said he asked Gates if he was short-selling Tesla — in other words, betting that the price of the electric carmaker's stock would fall. In a Bloomberg interview also in February 2021, Gates said that he wished he had "been more on the long side" of Tesla when asked about Musk's claims.

☆ Davos 2023: Key takeaways from the World Economic Forum
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +6 min

[1/4] NATO Secretary General Jens Stoltenberg, Poland's President Andrzej Duda and Canada's Deputy Prime Minister and Minister of Finance Chrystia Freeland take part in the World Economic Forum session on "Restoring Security and Peace. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 20 (Reuters) - Global leaders and business executives departed a freezing World Economic Forum (WEF) meeting on Friday after a frank exchange of views over how the world will tackle its biggest issues in 2023. Here's what we learned:ECONOMY: Gloom and doom heading into Davos turned into cautious optimism by the end with the global economic outlook for the year ahead looking better than feared. On the inside, political leaders like Kier Starmer railed against new oil investments and Pakistani climate minister Sherry Rehman pushed for loss and damage funding. The lesson I have learned in the last years ... is money, money, money, money, money, money, money."

☆ China's reopening 'good news' for growth — but could be inflationary, economists warn at Davos
▼ + stars: | 2023-01-20 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

China's reopening has been one of the most discussed topics at the World Economic Forum in Davos. DAVOS, Switzerland — China's economic reopening might boost global growth, but the business leaders and policymakers at the World Economic Forum this week are also a little anxious on its potential inflationary impact. China's decision to welcome tourists again as well as to make it easier for those in the country to travel abroad has been one of the most discussed topics at the Davos gathering in the Swiss Alps. On the other hand, however, there are concerns about what this means for inflation and the cost of living. "So China's opening [is] good news overall, but potentially, the inflationary impact — there could be some," he said.

[1/4] People stand in front of the Blockchain Hub Davos 2023 at the Promenade road during the World Economic Forum (WEF) 2023, in the Alpine resort of Davos, Switzerland, January 16, 2023. REUTERS/Arnd WiegmannDAVOS, Switzerland, Jan 19 (Reuters) - In the snow and ice on the main drag in Davos, the impact of the crypto winter is plain for WEF attendees to see. Executives in Davos said they are now all about blockchain technology, proper controls and regulation, and the promise of disruption that it holds for financial services and beyond. Colm Kelleher, chairman of Swiss bank UBS (UBSG.S), told a WEF panel that blockchain technology will help reduce costs for banks. "We kind of dodged a bullet," Kelleher said, noting that the collapse in the value of crypto currencies had not caused systemic problems.

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