Jamie Dimon, the CEO of JPMorgan Chase & Co., proposed a plan to end the turmoil in the banking industry, one that would involve government intervention. Still, the banker expressed concerns that policymakers will take away the wrong lessons from the current upheaval. “I think it’s going to get worse for banks—more regulations, more rules,…
JPMorgan CEO Proposes Solution to Ongoing Banking Crisis
Jamie Dimon, the CEO of JPMorgan Chase & Co., proposed a plan to end the turmoil in the banking industry, one that would involve government intervention. Still, the banker expressed concerns that policymakers will take away the wrong lessons from the current upheaval. “I think it’s going to get worse for banks—more regulations, more rules,…
Regulators Will Need to Intervene in Banking Crisis, JPMorgan CEO Says
JPMorgan Chase CEO Jamie Dimon has proposed a plan to end the turmoil in the banking industry, one that would involve government intervention. Still, the banker expressed concerns that policymakers will take away the wrong lessons from the current upheaval. “I think it’s going to get worse for banks—more regulations, more rules, and more requirements,’’…
Inflation Will Not Return to Fed’s Target, Precious Metals Investor Warns
In recent years, inflation has soared to heights not seen since the early 1980s, but Brien Lundin, a precious metals investor who has been closely monitoring the situation, believes the current levels of inflation may be here to stay and that the Federal Reserve’s target of 2 percent inflation is unrealistic. He is concerned that…
Fed’s Williams: Inflation Still ‘Too High,’ Fed Will Act to Lower It
NEW YORK—Federal Reserve Bank of New York President John Williams said Wednesday that inflation is still at problematic levels and the U.S. central bank will act to lower it, in comments that noted recent stress in the banking sector will likely weigh on economic activity. “Inflation is still too high, and we will use our…
Is a Digital Dollar Coming?
April 14, 2023
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Commentary A hullabaloo over a digital dollar first emerged in 2019 when the People’s Bank of China (PBOC) launched its digital yuan. Speculation arose that unless the United States responded in kind, China’s yuan would soon surpass the dollar as the world’s premier reserve currency. The speculation was pointless. There is much more to a…
Head of German Central Bank Sees No Recession on Horizon for Europe
Deutsche Bundesbank President Joachim Nagel said he does not believe the European Union will experience a recession in 2023, arguing that the latter half of the year is showing promising signs of recovery. Speaking at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group on Thursday, the central banker highlighted…
Fed’s Kashkari ‘Not Ready to Declare All Clear’ on Banking Sector Turmoil
Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, has said it is too early to declare that there are no risks to the banking sector following the collapse of Silicon Valley Bank (SVB) and regional lender Signature Bank last month, but that there are “hopeful” signs the turmoil may be over. “I’m not ready…
Fed’s Williams Doubts Monetary Policy Spiked Banking Sector Stress
April 11, 2023
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NEW YORK—Federal Reserve Bank of New York President John Williams said on Monday that financial system troubles that drove the central bank to provide large amounts of credit to banks is not collateral damage from the Fed’s aggressive effort to lower inflation. “I personally don’t think the pace of rate increases was behind the issues…
LIVE 10:30 AM ET: Countries Begin Dropping the Dollar; Fed Launches First Stage of Digital Currency
April 11, 2023
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A slew of nations recently announced they will begin moving away from the U.S. dollar when trading key products, and some are openly promoting a new movement to ditch the dollar for the Chinese yuan. The new movement in “de-dollarization” could deeply impact America’s role as the world leader, and damage its ability to sanction…
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