September 13th, 2020, 4:56 PM
...nothing of consequence from the Federal Reserve when it ends its September meeting on Wednesday, September 16. At least that's the market consensus right now. Which means that if the Fed makes adds a statement on inflation, or interest rates, or about the economy, it could surprise the financial markets. Inflation at the consumer level […]
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August 27th, 2020, 4:57 PM
As anticipated in Wednesday's rally--the Standard & Poor's 500 climbed 1.02% and the NASDAQ Composite was up 1.73%--Federal Reserve Chair Jerome Powell on Thursday announced that going forward the Fed would let inflation rise to above its current target of 2% from time to time in an effort to achieve maximum employment in the U.S. […]
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August 24th, 2020, 12:15 AM
... Wall Street to be hanging on the words of a Thursday, August 27 speech. Not the one that night where Donald Trump accepts the Republican Party nomination for President. That's unlikely to offer any surprises to the stock market. Instead the key speech that day is the one from Federal Reserve chair Jerome Powell […]
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August 21st, 2020, 4:52 PM
In January, the Congressional Budget Office forecast that total U.S. government debt would hit 100% of GDP around 2030. At that point U.S. debt stood at about $17 trillion or roughly 80% of GDP. So much for that forecast. As of the end of June, U.S. government debt had hit $20.53 trillion or 106% of […]
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January 29th, 2020, 10:49 PM
Gold held by ETFs (exchange-traded funds) hit the highest level in seven years on Tuesday as investors and traders piled into the traditional hedge against uncertainty and stock market volatility. Worldwide gold holdings in ETFs rose to 2,561.2 tons as of Tuesday, the highest level since January 2013, according to Bloomberg. Gold holdings at ETFs peaked […]
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January 14th, 2020, 2:10 PM
Two days after the last Federal Reserve meeting on December 11--where they told us again that inflation continues to fall below the Fed's 2% threshold and that, therefore, there's no inflation to worry about--I walked into my favorite New York bagel shop, Absolute Bagel, to discover that the bagel bakery had posted new prices: Bagels would […]
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December 19th, 2019, 4:55 PM
Of course, the Reserve Bank of India didn't mean to issue a warning to all global financial markets. The minutes of the central bank's December 3-5 meeting, released today, focus on the need to hold its benchmark interest rate at 5.15% after delivering 135 basis points of rate cuts so far this year including a […]
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December 11th, 2019, 1:45 PM
Wall Street is counting on the Federal Reserve to stay on the sidelines until September and then resume cutting interest rates. Some big money advisors are even counting on the Fed to cut interest rates again before September. Bloomberg ran an interview this morning with a Wall Street strategist looking for a full percentage point […]
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