Tag Archives: Fed

Billionaire hedge fund manager Bill Ackman reiterated recent calls on Twitter Tuesday morning for the Federal Reserve to intervene aggressively to tame inflation. Ackman’s latest tweet comes a day after a key economic report showed U.S. consumers have the most pessimistic economic outlook in nearly a decade. “Consumer confidence is weak because of inflation, not because of the economy. Jobs are plentiful and the economy is strong,” the Pershing Square founder said in a tweet. “The Source link

Americans were sitting on $815.3 billion worth of savings as of April. This may be good news for consumers individually, but bad news for the Federal Reserve, whose efforts to slow inflation could be delayed by this extra pile of cash lying around. “The problem is there is so much cash on household sector balance sheets and corporate sector balance sheets that it’s going to take more rate hikes to slow the economy down, simply because the starting point is a level of cash that is much higher… Source link

‘They’ll chicken out’: Fund legend Rick Rule says the Fed won’t keep hiking rates aggressively to prevent ‘amazing damage.’ Here are 3 spots he likes for your dough The Fed is raising interest rates aggressively in an attempt to tame raging inflation. But according to legendary investor Rick Rule — former president and CEO of investment fund Sprott U.S. Holdings — things may not go as planned for America’s central bank. “I think they’ll chicken out,” he told Stansberry… Source link

This post was originally published on TKer.com. Federal Reserve Chair Jerome Powell reiterated the central bank’s top priority right now: Bringing down inflation. “It’s unconditional, our commitment,” Powell told the House Financial Services Committee on Thursday. He also acknowledged that the Fed’s efforts could come with some economic pain. When asked about the likelihood of the economy falling into recession as a consequence, Powell told the Senate Banking Committee on Wednesday:… Source link

Policymakers at the Federal Reserve are beginning to entertain the possibility of recession, as high inflation pushes the central bank to raise interest rates at the fastest pace in decades. “It’s certainly a possibility,” Fed Chairman Jerome Powell told the Senate Banking Committee on Wednesday when asked about the chance of a recession. Powell clarified: “It’s not our intended outcome.” The Fed chief’s remarks on Wednesday stand in contrast to his commentary from early May, when… Source link

Patrick Harker, President of the Federal Reserve Bank of Philadelphia, joined Yahoo Finance Live on June 22, 2022, to discuss his economic outlook and the Fed’s recent decision to raise interest rates by 0.75%. — BRIAN CHEUNG: President Harker. Good morning. How are you? PATRICK HARKER: Good morning, Brian. Thanks for having me. BRIAN CHEUNG: So a lot to talk about, obviously the big news headline coming from the Fed last week of that 0.75%, 75 basis point, move. It was an interesting kind of… Source link

The U.S. Federal Reserve risks weak economic growth throughout this year due to its backward-looking, “draconian” rate hikes, warned Wall Street’s best-known tech sector bull. ARK Invest founder Cathie Wood, who became famous for her prescient bets on disruptive technologies led by companies such as Tesla, argued the Fed must temper its policy given leading economic indicators were flashing red. These included speculative bets indicating an expectation for rising bankruptcies via… Source link

President Joe Biden.MANDEL NGAN/AFP via Getty Images There’s a 72% chance the Federal Reserve could cause a recession by 2024, Bloomberg Economics says. In February, the same models forecasted nearly zero chance of a downturn by that time. The latest forecast came after the central bank made its largest interest rate hike since 1994 to combat inflation. The odds that the US economy will fall into a recession by early 2024 have soared to nearly three-in-four in just a few months as the Federal… Source link

This post was originally published on TKer.com. It’s a bear market. On Monday, the S&P 500 tumbled 3.9% to close at 3,749.63. That put the index down 21.8% from its January 3 all-time closing high of 4,796.56. This was the first time the S&P closed down by at least 20% from its high, confirming that we’ve been in an official bear market. By the end of the week, the S&P had fallen to 3,674.84, down 23.4% from its high. Historically, bear markets have come with more pain. According to Howard… Source link

Yahoo Finance senior columnist Rick Newman discusses recent economic news including the Federal Reserve’s benchmark interest rate hike, the S&P seeing its worst week since March 2020 and President Joe Biden’s statement that a recession is “not inevitable.” This segment aired on KTLA 5 Weekend Morning News on June 18, 2022. Close Modal Suggest a Correction Suggest a Correction Source link