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☆ Sen. Warren calls on Yellen, FSOC to do more to shore up regional banks
▼ + stars: | 2023-09-14 | by ( Emily Wilkins | ) www.cnbc.com time to read: +3 min

WASHINGTON — Sen. Elizabeth Warren is sounding alarm bells about the future of regional banks in a new letter Thursday to Treasury Secretary Janet Yellen and a top advisory group for bank regulators. In the letter to Yellen, obtained exclusively by CNBC, Warren addresses the secretary in her capacity as chair of the Financial Stability Oversight Council, and asks her and the council to investigate several looming threats to banks. "I urge you to take strong action to address the alarming fallout from high interest rates and protect the safety of our financial system," Warren writes. The request follows an August announcement by Moody's that it was downgrading 10 regional banks, and putting another 17 banks either under review or changing their outlooks from stable to negative. The Massachusetts senator has been an outspoken critic of the increases, warning Federal Reserve Chairman Jay Powell and others that higher interest rates will ultimately hurt working Americans, even if they appear to exert downward pressure on inflation.

Persons: Sen, Elizabeth Warren, Janet Yellen, WASHINGTON — Sen, Yellen, Warren, Jay Powell, Wells Organizations: Banking, Housing, Urban Affairs Committee, WASHINGTON, CNBC, Consumer Financial, Biden White, Biden Locations: Washington, Washington , DC, Massachusetts, Wells Fargo, Warren

☆ BoE's Broadbent: Rates may have to stay high 'for some time yet'
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +3 min

The Bank of England's Deputy Governor, Monetary Policy, Ben Broadbent speaks at a press conference at the Bank of England, London, Britain, May 11, 2023. The BoE said earlier this month that borrowing costs were likely to stay high for some time as it raised rates for the 14th time in a row. Investors expect another increase in the BoE's Bank Rate to 5.5% from its current level of 5.25% on Sept. 21, after the next scheduled meeting of the Monetary Policy Committee. Broadbent said the BoE's stance on interest rates would respond to "the evidence on spare capacity, and to indicators of domestic inflation, as and when it comes through." The chair of the Federal Reserve, Jay Powell, told the Jackson Hole gathering of central bankers on Friday that the Fed may need to interest rates further.

Persons: Ben Broadbent, Henry Nicholls, JACKSON, Broadbent, BoE, Jay Powell, Jackson, William Schomberg, Paul Sandle, Christina Fincher Organizations: of England's, Monetary, Bank of England, REUTERS, Federal Reserve, Thomson Locations: London, Britain, , Wyoming, United States, Ukraine, BoE's, Russia

☆ A soft-ish landing seems more likely than not, says Roger Ferguson
▼ + stars: | 2023-08-25 | 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 EmailA soft-ish landing seems more likely than not, says Roger FergusonRoger Ferguson, former Federal Reserve vice chairman, joins 'Squawk Box' to preview Fed Chair Jay Powell's remarks from the Jackson Hole Economic Symposium, the impact on the Fed's inflation right, and more.

Persons: Roger Ferguson Roger Ferguson, Jay Powell's Organizations: Federal Reserve, Jackson

☆ Pay closer attention to Powell's tone in Jackson Hole today, rather than his comments, says NYT
▼ + stars: | 2023-08-25 | 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 EmailPay closer attention to Powell's tone in Jackson Hole today, rather than his comments, says NYTJeanna Smialek, Federal Reserve and Economy Reporter at The New York Times, discusses what she expects from Jay Powell in Jackson Hole today.

Persons: Jackson, Smialek, Jay Powell Organizations: Federal Reserve, The New York Times Locations: Jackson

☆ Now's the time to get more into fixed income, says Komal Sri-Kumar
▼ + stars: | 2023-08-25 | 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 EmailNow's the time to get more into fixed income, says Komal Sri-KumarKomal Sri-Kumar, president of Sri-Kumar Global Strategies, joins 'Squawk Box' to preview Fed Chair Jay Powell's speech at the annual Jackson Hole conference, why he believes Powell will be relatively dovish this year and could potentially push the yield on the 10-year note down further, and more.

Persons: Komal, Kumar Komal, Kumar, Jay Powell's, Jackson, Powell Organizations: Sri, Kumar

☆ Major indexes fall 1%, focus shifts to upcoming Powell speech
▼ + stars: | 2023-08-24 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. Shares of Nvidia (NVDA.O) ended barely higher after they hit a record high early in the session. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors (.SOX) dropped 3.4%. Reuters GraphicsAmong the day's decliners, Dollar Tree (DLTR.O) shares dropped 12.9% after the retailer forecast annual profit largely below estimates. The S&P 500 posted 10 new 52-week highs and 13 new lows; the Nasdaq Composite recorded 35 new highs and 220 new lows.

Persons: Robert Galbraith, Jerome Powell's, Powell's, it's, Jay Powell, Jake Dollarhide, Patrick Harker, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Ganguli, Deepa Babington Organizations: Nvidia, REUTERS, Dow, Nasdaq, Federal, Longbow, Management, Dow Jones, Treasury, Philadelphia Fed, CNBC, Reuters Graphics, NYSE, Thomson Locations: Santa Clara , California, Jackson Hole , Wyoming, Tulsa , Oklahoma, Bengaluru

☆ Wall St ends down sharply, focus shifts to upcoming Powell speech
▼ + stars: | 2023-08-24 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The logo of technology company Nvidia is seen at its headquarters in Santa Clara, California February 11, 2015. All of the major S&P 500 sectors were down on the day, however, and an index of semiconductors (.SOX) also dropped. "As much as investors want to focus on Nvidia and want to focus on tech - and it's been a good year so far - this is still a market that is Fed obsessed. The market had gained along with Nvidia this week ahead of the company's report on hopes that its forecast could extend this year's artificial intelligence tech stock rally. Reuters GraphicsAmong the day's decliners, Dollar Tree (DLTR.O) shares dropped after the retailer forecast annual profit largely below estimates.

Persons: Robert Galbraith, Jerome Powell's, Powell's, it's, Jay Powell, Jake Dollarhide, Patrick Harker, Amruta Khandekar, Shreyashi Sanyal, Shristi, Savio D'Souza, Shinjini Ganguli, Deepa Babington Organizations: Nvidia, REUTERS, Nasdaq, Federal, Dow Jones, Longbow, Management, Treasury, Philadelphia Fed, CNBC, Reuters Graphics, Thomson Locations: Santa Clara , California, Jackson Hole , Wyoming, Tulsa , Oklahoma, Bengaluru

☆ PIMCO's Jerome Schneider explains why now's the 'perfect condition' to be in fixed income
▼ + stars: | 2023-08-24 | 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 EmailPIMCO's Jerome Schneider explains why now's the 'perfect condition' to be in fixed incomeLouise Sheiner, Brookings Institution senior fellow and policy director for The Hutchins Center on Fiscal and Monetary Policy, and Jerome Schneider, PIMCO managing director, join 'Squawk Box' to discuss the state of the economy, latest market trends, what investors should expect from Fed Chair Jay Powell in Jackson Hole tomorrow, and more.

Persons: PIMCO's Jerome Schneider, Louise Sheiner, Jerome Schneider, PIMCO, Jay Powell Organizations: Brookings Institution, The Hutchins, Monetary Locations: Jackson

☆ Cramer lists 5 stocks that might be worth buying into during 'any bout of weakness'
▼ + stars: | 2023-08-24 | by ( Julie Coleman | ) www.cnbc.com time to read: 1 min

CNBC's Jim Cramer said he knows it's been a "brutal month" for the market, but on Thursday he listed five stocks he thinks investors could consider buying during "any bout of weakness." "Whenever the market gets hit, you know what, there are almost always buying opportunities," Cramer said. "Even if you think that we're looking at more downside once we hear from Fed chief Jay Powell tomorrow at Jackson Hole, you can use that to buy the best beaten-down stocks at even lower levels," he continued, referring to Federal Reserve chair Jerome Powell's Friday speech where he is expected to signal whether interest rates will remain high. Here are the five stocks that Cramer has in mind:

Persons: CNBC's Jim Cramer, it's, Cramer, Jay Powell, Jerome Powell's Organizations: Fed, Federal Locations: Jackson

☆ Cramer says these stocks do well in an economic slowdown
▼ + stars: | 2023-08-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer said he's not sure whether the economy is headed for a slowdown, but on Tuesday he gave investors stocks to look into in case it is. "I don't know if we're headed for a slowdown, but I do know it makes sense to dip your toe into the consumer packaged goods stocks, true recession stocks, if only so that you'll have all your bases covered, and because they've gotten cheap," Cramer said. He added that during a slowdown, the consumer "retrenches," going back to the store to buy goods and make "the dollar stretch a little further." Cramer in particular highlighted consumer packaged goods stocks like Pepsico and Mondelez . "None of these recession stocks work if the economy stays white hot, but they make good protection in case Jay Powell says something really harsh on Friday that makes us terrified of a slowdown," Cramer said, referring to the Federal Reserve Chairman's upcoming speech at the central bank symposium.

Persons: CNBC's Jim Cramer, he's, we're, Cramer, Procter, Jay Powell, you've Organizations: Pepsico, Mondelez, Gamble, Hershey, Federal Reserve

☆ There's an underlying trend that's making the Fed's job easier, Wharton's Jeremy Siegel says
▼ + stars: | 2023-08-21 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

The U.S. economy could bring down inflation while avoiding a growth slowdown — thanks to a rise in productivity, according to Jeremy Siegel, professor of finance at the Wharton School of Business. "The last quarter was, outside of the few months around the pandemic, the best quarter for productivity in over six years," Siegel told CNBC's "Squawk Box" on Monday. Data from the U.S. Department of Labor showed that nonfarm business sector labor productivity rose 3.7% during the prior quarter, as output gained 2.4% and hours worked fell 1.3%. The Atlanta Federal Reserve's GDPNow tracker of incoming data is suggesting growth of 5.8% in the period of July through September. "That's how you can have strong GDP growth without pressure on the labor market, and really without pressure on inflation.

Persons: Jeremy Siegel, Siegel, CNBC's, Jay Powell, Jerome Powell Organizations: Wharton School of Business, U.S . Department of Labor, Atlanta Federal Locations: U.S

☆ Stocks are still much better than bonds for generating long-term wealth, Wharton professor Jeremy Siegel says
▼ + stars: | 2023-08-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

There's "no way" bonds are better than stocks for long-term investors, Wharton professor Jeremy Siegel said. By the time investors have doubled their money in bonds, they've quintupled their money in stocks, he estimated. Siegel has turned more bullish on stocks and the US economy over the past year amid inflation's decline. Meanwhile, the S&P 500 is currently trading with price-to-earnings ratio of about 20, which means stocks have around a 5% yield. "By the time you've doubled your money in bonds, you've multiplied your money by five times in stocks," Siegel said in an interview with CNBC on Monday.

Persons: Wharton, Jeremy Siegel, they've, Siegel, Jay Powell Organizations: Service, Treasury, Securities, Federal Reserve, CNBC Locations: Wall, Silicon

☆ Wharton professor Jeremy Siegel says the US won't spiral into a new bout of inflation even as economy stays hot
▼ + stars: | 2023-08-18 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

The US won't see a resurgence in inflation, according to Jeremy Siegel. That was a reflection of poor productivity in the economy, Siegel said – a trend that has since turned around:"It was the worst productivity performance in over 70 years. This year we are hiring at less than half the pace and we have two to three times the level of GDP growth. That's why we can have this tremendous GDP growth and still have the disinflationary trend." And inflation won't reaccelerate as improving productivity justifies higher wages and drives more economic output, Siegel explained.

Persons: Jeremy Siegel, Wharton, Siegel, Jay Powell, Stocks Organizations: CNBC, Service, Atlanta Fed Locations: Wall, Silicon, BlackRock

☆ Wharton's Jeremy Siegel: The best news conference I've heard from Jay Powell in over a year
▼ + stars: | 2023-07-27 | 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 EmailWharton's Jeremy Siegel: The best news conference I've heard from Jay Powell in over a yearJeremy Siegel, University of Pennsylvania’s Wharton School professor of finance, joins 'Squawk Box' to discuss the Fed's latest 25 basis point hike, the market's longest winning streak in decades, and more.

Persons: Jeremy Siegel, I've, Jay Powell Organizations: University of Pennsylvania’s Wharton School

☆ Inflation fever is finally breaking. The Fed’s soft landing may be in sight
▼ + stars: | 2023-07-13 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But I can’t help imagine him quietly fist-pumping the moment he got wind of the latest inflation data. For context, a year ago the CPI peaked at 9.1% — the worst inflation in more than 40 years. After a punishing stretch of rising prices, “the fever is breaking,” wrote Bill Adams, chief economist for Comerica Bank. In other words, the Fed may actually pull off the “soft landing” — lowering inflation without tanking the economy — that few believed was doable even six months ago. “The odds of achieving a soft landing just went up drastically,” Dan Alpert, managing director of Westwood Capital, told me.

Persons: CNN Business ’, Jerome Powell, he’d, Jay won’t, ”, Bill Adams, Jay Powell, “ We’ve, Lael Brainard, Joe Biden’s, “, Brainard, hadn’t, ” Dan Alpert, “ I’m, Jamie Dimon, you’ll Organizations: CNN Business, New York CNN, Consumer, Comerica Bank, Fed, Westwood Capital, JPMorgan Chase Locations: New York

☆ Jim Cramer says don't get distracted by 'nonsense' and watch the June jobs report
▼ + stars: | 2023-07-06 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer told investors on Thursday not to get distracted by "nonsense" this week and focus on Friday's June labor report. Instead, Cramer suggested investors keep their eyes on the June labor report, which will be released on Friday. The report is expected to show a red-hot job market, and Cramer said it is likely the market will get "clobbered" and the Federal Reserve will then raise rates "with abandon." "So much of what passes for wisdom on Wall Street is totally meaningless," Cramer said. He also recommended that investors raise cash and ring the register on stocks that have tallied solid gains.

Persons: CNBC's Jim Cramer, Cramer, Janet Yellen's, Yellen's, Jerome, Jay Powell Organizations: Federal Reserve, CNBC Locations: China, OPEC, Russia, Ukraine

☆ US banks gird for dose of post-stress-test trauma
▼ + stars: | 2023-06-29 | by ( John Foley | ) www.reuters.com time to read: +8 min

NEW YORK, June 29 (Reuters Breakingviews) - For the biggest U.S. banks, the nerves this year come after the exam. Fed stress tests subject banks to a theoretical market shock and incorporate elements of operational risk, and then spit out a “stress capital buffer” requirement tailored to each firm. The risk for banks is that new rules get piled on top of existing regulations in a process known as gold-plating. U.S. banks are awaiting a proposal from their regulators to revamp capital rules, expected in July. Gruenberg said regulators were considering expanding the reach of a stricter set of capital rules to include banks with over $100 billion in assets.

Persons: Goldman Sachs, Michael Barr, Jamie Dimon, Banks, Morgan Stanley, Jay Powell, PwC, watchdogs, Michelle Bowman, Martin Gruenberg, It’s, Gruenberg, Peter Thal Larsen, Streisand Neto Organizations: YORK, Reuters, Federal Reserve, JPMorgan, Citigroup, Banking Supervision, Basel III, America, State Street, Bank of New York Mellon, Big, Bank, U.S ., Reuters Graphics Reuters, Signature Bank, First, Fed, Federal Deposit Insurance, FDIC, Credit Suisse, Committee, “, “ Basel IV, Federal, Thomson Locations: U.S, Basel, Goldman, Big U.S, Swiss, “ Basel

☆ Timiraos: It will take a lot for the Fed to not raise interest rates next month
▼ + stars: | 2023-06-22 | 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 EmailTimiraos: It will take a lot for the Fed to not raise interest rates next monthNick Timiraos, Chief Economics Correspondent at the Wall Street Journal, discusses Fed Chair Jay Powell's testimony before Congress.

Persons: Nick Timiraos, Jay Powell's Organizations: Fed, Wall Street

☆ With more than $1 billion in deals in the works, Wall Street is poised to get back into the home buying game
▼ + stars: | 2023-06-21 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Wall Street landlords raised $110 billion to buy homes but have had a quiet year. One large transaction, and one large listing, could signal that investors are ready to start buying. The single-family rental market, a popular playground of Wall Street landlords in 2020 and 2021, has been in a deep-freeze for the last year. Rising borrowing costs and a shakier housing market halted most transactions, leaving idle much of the $110 billion raised to buy homes. The company, which was valued at nearly $2 billion last year, says it has facilitated more than $5 billion in deals.

Persons: dealmaking, Goldman Sachs, Don Mullen, DR, Barry Sternlicht's, redemptions, Gary Beasley, Roofstock, Allison Arest, Topping, Beasley, Morgan Stanley's, Ellen Zentner, Jay Powell, LeMaistre, everybody's Organizations: Bloomberg, Barry Sternlicht's Starwood Group, Fed Locations: Beach

☆ Bitcoin gets a sliver of optimism to cap an otherwise dismal week for crypto
▼ + stars: | 2023-06-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m. A moment of relief Bitcoin climbed about 4% Friday, but the rest of the week wasn't as sunny. Price action was tepid to start the week and on Wednesday bitcoin briefly fell to a March low. … It's a doubting Thomas market for the next buyer of bitcoin right now. Miner profitability Bitcoin's recent declines may not be entirely on macro and regulatory headwinds, said Yuya Hasegawa, crypto market analyst at Japanese bitcoin exchange Bitbank.

Persons: Bitcoin, Price, Gustavo Schwenkler, it's, bitcoin, Mark Connors, we've, Thomas, Jay Powell, Connors, Yuya Hasegawa, Hasegawa Organizations: BlackRock, SEC, Leavey School of Business, Santa Clara University, Federal, Coinbase

☆ Morning Bid: US Stocks fight the Fed as markets still not listening
▼ + stars: | 2023-06-16 | by ( Naomi Rovnick | ) www.reuters.com time to read: +3 min

LONDON, June 16 (Reuters) - If you looked at red-hot stock markets without following central banks, you could well assume interest rates are being cut. The European Central Bank hiked again on Thursday and the Bank of England is widely predicted to follow suit next week. But while central bankers remain as worried about inflation as they have been since late 2021, markets seem to be worrying about nothing at all. Rather than hearing this cue, markets are listening selectively, focusing on the growth narrative while continuing to push back against hawkish guidance. The market rally is also feeding on itself, pulling off the sidelines investors who were underweight equities previously.

Persons: Jay Powell, Naomi Rovnick, Toby Chopra Organizations: U.S . Federal Reserve, European Central Bank, Bank of England, Treasury, Equity, Bank of America, University of Michigan, Thomson, Reuters Locations: U.S

The Fed looks poised to pauseS&P 500 futures are up on Wednesday as investors bet that the Fed will not change its prime lending rate, thanks to an array of unexpectedly positive economic data. If the central bank moves as expected, it would break a streak of 10 consecutive rate increases, back to March of 2022 — the Fed’s most aggressive pace since the 1980s. That said, many expect the decision on Wednesday to represent a pause, not a reversal, of a hawkish anti-inflation policy. The central bank’s chair, Jay Powell, is expected to suggest at his post-meeting news conference on Wednesday that he isn’t done raising rates. Mr. Patterson believes that the Fed is planning at least one more rate increase this year.

Persons: Jay Powell, Powell, ” Andrew Patterson, DealBook, Patterson Organizations: Vanguard

☆ DoubleLine’s Gundlach says the Fed will break something if it sticks to its rate-hiking path
▼ + stars: | 2023-06-14 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

DoubleLine Capital CEO Jeffrey Gundlach said Wednesday that the Federal Reserve could tip the economy into a recession if the central bank follows through on its rate-hiking path this year. "I think that if the Fed follows the path that they're talking about, ... they are going to break something," Gundlach said on CNBC's " Closing Bell." The Fed paused its hiking campaign in June, but forecast it will raise interest rates as high as 5.6% before 2023 is over. The so-called dot-plot released Wednesday projected two more increases left in 2023, if the central bank keeps its rate-hiking pace at quarter-point increments. Gundlach said he doesn't think the Fed is going to be raising interest rates again as data are expected to deteriorate.

Persons: Jeffrey Gundlach, Gundlach, Jay Powell, we're, Jerome Powell, Powell, hasn't Organizations: DoubleLine, Federal, Fed

☆ Oil prices are facing a 'battle royale' between Saudi Arabia and the Federal Reserve, Bank of America says
▼ + stars: | 2023-06-13 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Oil prices will remain under pressure until the Fed eases up on monetary tightening, Bank of America said. Meanwhile, Saudi Arabia is trying to boost oil prices by cutting production. Energy markets are facing a "battle royale" between the top oil exporter and the Federal Reserve. In a note last week, BofA commodities strategist Francisco Blanch pointed to the downward trend in oil prices compared to last summer, when oil hit triple digits. Earlier this month, Saudi Arabia announced a production cut of 1 million barrels per day starting in July, piling onto prior cuts from earlier this year.

Persons: —, Francisco Blanch, Prince Abdulaziz bin Salman, Jay Powell, Blanch, Brent Organizations: Bank of America, Energy, Federal Reserve, Service, Privacy Policy, Fed, US Federal Reserve Locations: Saudi Arabia, Privacy Policy Saudi Arabia, China

☆ Cramer says don't be complacent ahead of Fed meeting: 'I do not trust a benign market like this one'
▼ + stars: | 2023-06-09 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

"No surprise to regular viewers, I do not trust a benign market like this one," Cramer said. On Monday, Cramer will be watching out for software company Oracle 's report, which is expected after market's close. Cramer asked, "Because they don't want to lose those low mortgages they got over the last five years." Wednesday will bring news from the Fed, and Cramer isn't convinced Chairman Jay Powell has completely lost his hawkish streak. Friday will hopefully bring investors more clearly into the minds of consumers, Cramer said, with the release of the University of Michigan Consumer Sentiment index.

Persons: CNBC's Jim Cramer, Cramer, market's, Cramer isn't, Jay Powell, Lina Khan, we've, —, Wall Organizations: Oracle, Kroger, Albertsons, Federal Trade, University of Michigan, Fed Locations: Florida

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