Ed. Note: This article first appeared in Bloomberg The scandal involving Wells Fargo that surfaced last year shows the U.S. banking industry still has work to do on improving its culture, Federal Reserve Bank of New York President William Dudley said. “Like mortgage brokers in the early 2000s, it appears that job security depended almost exclusively […]
Even as the central bank amassed trillions of dollars of debt to prop up the economy following the financial crisis, it didn’t hedge its holdings or fret about gains and losses that might keep ordinary investors up at night. This extreme buy-and-hold stance has had an incredible calming effect on the bond market.
There was only one dissent from Wednesday’s rate-raising decision by the Federal Reserve’s monetary policy committee, and it came from Neel Kashkari. The former aerospace engineer and onetime Republican candidate for governor of California is now president of the Federal Reserve Bank of Minneapolis.
Ed. Note: This article first appeared in CNBC Expect the Federal Reserve to lead markets rather than follow them, Mohamed El-Erian, chief economic advisor at Allianz, told CNBC on Thursday, a day after the Fed hiked interest rates for the second time in three months. “There is an ongoing transition in Fed policy. This is […]
Ed. Note: This article first appeared in CNBC While the Federal Reserve is gradually raising interest rates in the U.S., the actions by two other central banks are actually the most important thing to watch right now, bond guru Bill Gross told CNBC on Wednesday. And it is something that could possibly wreak havoc on […]
Ed. Note: This article first appeared in CNBC If you are a borrower, you’re going to pay. If you are a saver, you’re not going to get paid — such is the nature of interest rate hikes. With the Fed set to raise its benchmark rate Wednesday, the effects will be immediate for some, not […]
Ed. Note: This article first appeared in CNBC The next threat to the so-called Trump rally is brewing across the pond, said Samantha Azzarello, global market strategist at JPMorgan Asset Management. While Azzarello believes that United States markets are already looking a bit too optimistic, she sees the upcoming French election as the next “meteorite” […]
Ed. Note: This article first appeared in CNBC The Federal Reserve has manipulated interest rates lower in order to push up stock prices, but it will only take one data point to push the central bank to hike rates, Mohamed El-Erian, chief economic advisor at Allianz, told CNBC on Monday. “They needed to get people […]
Story posted by Jeff Cox at CNBC The next interest rate increase could be closer than it appears. That’s after documents released Wednesday show that Federal Reserve officials spent their meeting three weeks ago consumed with the changes brought on by a new administration in the White House — concluding with a strong indication that […]
Story written at CNBC The Federal Reserve aims to raise U.S. interest rates in the months ahead if the economy continues to grow a bit above its trend and if, as expected, fiscal policies provide stimulus, an influential Fed policymaker said on Wednesday. “We expect to gradually remove further monetary policy accommodation and snug up interest […]