The Federal Reserve unleashes another big rate hike to try to tame inflation. We have analysis. China reportedly tried to recruit informants in the Federal Reserve. A congressional report says Beijing was trying to build a network of influence. Update on the Twitter-Elon Musk saga: Twitter set the date for a shareholder vote. It’s one of…
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Powell: Fed to Keep Hiking Rates Until It Controls Inflation
WASHINGTON—Chair Jerome Powell on Tuesday underscored the Federal Reserve’s determination to keep raising interest rates until there is clear evidence inflation is steadily falling—a high-stakes effort that carries the risk of causing an eventual recession. The Fed’s increases in its benchmark short-term rate typically lead, in turn, to higher borrowing costs for consumers and businesses,…
Gold Holds Near 10-week Low on Robust Dollar, US Rate Hike Bets
Gold prices hovered near their lowest level in two months on Thursday, as expectations of aggressive U.S. policy tightening boosted the dollar and added pressure on non-yielding bullion. Spot gold fell 0.1 percent to $1,885.06 per ounce by 1:04 p.m. GMT. It hit $1,871.81, its lowest since Feb. 17 earlier in the session. U.S. gold…
Timing of the Next US Recession
Commentary The most threatening thing for the market and economy is no doubt the upcoming rate hike. A rate hike per se is not something scary, but a series of actions can ultimately lead to recession. True, the yield curve is still steep based on the most predictive tenors 30-year or 10-year minus 3-month. Yet…
Wall Street Slumps as Weak Earnings, Rate Hike Clarity Spook Investors
Wall Street tumbled more than 2.5 percent on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors. It was the third straight week of losses for both the S&P 500 and the Nasdaq,…
Dow Suffers Worst Decline Since 2020 as Fed Signals Sharper Rate Hike
New York—The Dow Jones industrial average plummeted more than 900 points on Friday to post its worst daily loss since October 2020. The blue-chip index lost 981 points, or 2.82 percent, to close at 33,811. The S&P 500 dove 121 points, or 2.77 percent, to 4,271. Tech-heavy Nasdaq decreased 335 points, or 2.55 percent, to…
Jobs Report Likely Signals a Likely Half Point Rate Hike at May Fed Meeting
Commentary The March jobs report printed at 431,000 new jobs, below the consensus estimate of 490,000. That’s down from the blockbuster February number, which was revised up to 750,000 new jobs. The seasonally adjusted unemployment rate ticked down to 3.6 percent from 3.8 percent, or 2/10ths of a percentage point—or 20 basis points (bps)—from last…
Fed’s Bostic Sees 6 Rate Hikes This Year, Risks From War
March 21, 2022
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Atlanta Federal Reserve Bank President Raphael Bostic said Monday he has penciled in a total of six interest rate hikes this year and two for 2023, fewer than most of his colleagues as he worries about the effects of Russia’s invasion of Ukraine on the U.S. economy. “Getting the high rates of inflation under control…
After Sizzling Rebound, Investors Weigh Whether Stocks Have More Bounce
NEW YORK—Wall Street stormed back this week after absorbing a long-awaited rate hike from the Federal Reserve, leaving investors to determine whether stocks are set for a sustained rebound or more turbulence. Following a months-long drubbing, the S&P 500 delivered its best weekly gain since November 2020 as investors cheered increased clarity on monetary policy…
Why a Federal Reserve Interest Rate Hike Could Be Closer Than You Think
The Federal Reserve confirmed investor suspicions in December that multiple interest rate hikes are likely coming in 2022. The bond market is now pricing in the potential for the first rate hike to come sooner than many investors may realize. Probability Rising According to CME Group, the bond market is now pricing in a 56.5…
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