An employee of the Consumer Financial Protection Bureau (CFPB) made unauthorized transfers of confidential data relating to 256,000 consumers to a personal email account, the bureau has revealed. The CFPB found personally identifiable information relating to customers of seven institutions that had been forwarded by a staffer—who is no longer employed at the CFPB. The…
CFPB Employee Sent Data on 256,000 Consumers to Personal Email
April 20, 2023
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Bill HuizengaBusiness & MarketsConsumer Financial Protection BureauDodd FrankeconomyExecutive BranchMick MulvaneySen. Sherrod BrownSen. Tim ScottThe Federal ReserveUSUS News
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Bank Failures Highlight Risks of Using ESG in Americans’ Pension Funds
March 22, 2023
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Business & MarketsCredit Suisseeconomic policiesenergyERISAESGinflationInvestmentpersonal financeprivate pensionsretirement fundsSan Francisco Federal Reserve BankSVB CollapseThe Federal ReserveUSUS interest rates
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President Joe Biden used his veto power on Monday to block a bipartisan action from Congress that would have prevented pension fund managers from investing retirees’ money according to environmental and social-justice criteria. “There is extensive evidence showing that environmental, social, and governance factors can have a material impact on markets, industries, and businesses,” Biden…
Policy Phase Lag Can Lead to Over Tightening
Commentary Since the previous Federal Open Market Committee (FOMC) meeting, where the Federal Reserve (Fed) reiterated a longer-than-expected rate hike and a later-than-expected rate cut, the shorter market rates then edged up. Yet, Fed funds futures show the terminal rate stayed at around five percent and moved within a small range of plus or minus…
Central Banks Were ‘Too Complacent’ About Inflation Last Year: Singapore Prime Minister
May 23, 2022
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Asia & PacificBusiness & Economycentral bankseconomic policieseconomyinflationLee Hsien LoongSingaporeThe Federal ReserveUSWorld
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The central banks took a relaxed approach toward inflation last year and must now take “drastic measures” to deal with the current high inflation, Singapore’s Prime Minister Lee Hsien Loong said on Sunday. Lee said in an interview with Nikkei Asia that the global economy had recovered from the COVID-19 pandemic faster than projected, in…
Janet Yellen: Biden’s Spending ‘Did Feed’ Inflation
May 5, 2022
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Business & EconomyeconomyExecutive BranchFedinflationJanet YellenPoliticsThe Federal ReserveUSUS Features
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President Joe Biden’s $1.9 trillion American Rescue Plan did contributed to inflation, Treasury Secretary Janet Yellen conceded on Wednesday. Speaking in an interview with Matt Murray, editor-in-chief of The Wall Street Journal, the former head of the Federal Reserve admitted that the White House’s enormous spending had played a role in today’s inflationary environment, adding…
Fed Paying Banks Not to Lend Has Cost $1.5 Billion in 4 Weeks
The Federal Reserve’s paying interest on bank reserves as well as selling to banks treasuries overnight, which in practice means paying banks so they lend less, is becoming more expensive with the Fed’s recently initiated series of interest rates hikes. Over the past four weeks, the central bank dished out nearly $1.5 billion to financial…
Government’s Sinister Gold Agenda
Sponsored Content There’s this misguided notion often parroted in the sound money community that the government hates gold. If you’re a gold investor, you’ve probably heard it. But have you ever stopped to question it? If you did, you would soon realize that the thesis is a bit too simplistic to the point of being…
Adopting Opposite Way, Beijing Pushes Monetary Easing Ahead of US Interest Rate Hike
As the U.S. Federal Reserve (the Fed) quickens its pace of tightening, the Chinese Communist Party (CCP) authorities unleashed a barrage of easing policies this month to stimulate China’s economy, with the two countries’ monetary policies apparently pointed in opposite directions. Some analysts believe that the early release of an easing policy by the People’s…
Beijing Pushes Monetary Easing Ahead of US Interest Rate Hike
As the U.S. Federal Reserve (the Fed) quickens its pace of tightening, the Chinese Communist Party (CCP) authorities unleashed a barrage of easing policies this month to stimulate China’s economy, with the two countries’ monetary policies apparently pointed in opposite directions. Some analysts believe that the early release of an easing policy by the People’s…
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‘Stay Defensive’: Chief Investment Officer on How to Position Your Portfolio
All eyes are on the Federal Reserve ahead of their closely-watched interest rate decision on March 22. Fed Chair Jerome Powell and company will have to balance fears of more damage to the banking sector with their original mission—to defeat inflation. Markets have priced in an overwhelming likelihood of a 25 basis-point rate hike. How…