Tag Archives: Powell

Federal Reserve Chairman Jerome Powell told Congress this week that he would like to see a corner of digital currencies more tightly regulated. “If [stablecoins] are going to be a significant part of the payments universe — which we don’t think crypto assets will be, but stablecoins might be — then we need an appropriate regulatory framework, which frankly we don’t have,” Powell told the House Financial Services Committee on Wednesday. To get around the stigma of cryptocurrencies being… Source link

TipRanks 2 “Strong Buy” Penny Stocks That Could Deliver Massive Returns The long-term upward trend in the markets is marked; the S&P 500 is up 51% over the last 12 months, even taking into account some recent slips. For investors, this makes the present a propitious time to seek out low-cost market segments with high return potential. Or in other words, to take the old time advice and buy low to sell high. Jefferies equity strategist Steven DeSanctis, in a recent note on small-cap market… Source link

Bloomberg Oil Sands Give OPEC a Boost With Half-Million-Barrel Output Cut (Bloomberg) — Major oil sands producers in Western Canada will idle almost half a million barrels a day of production next month, helping tighten global supplies as oil prices surge.Canadian Natural Resources Ltd.’s plans to conduct 30 days of maintenance at its Horizon oil sands upgrader in April will curtail roughly 250,000 barrels a day of light synthetic crude output, company President Tim McKay said in an… Source link

(Bloomberg) — Stocks and bonds sold off after Federal Reserve Chairman Jerome Powell underwhelmed markets by refraining from pushing back more forcefully against the recent spike in Treasury yields. The S&P 500 pared losses after briefly erasing its advance for 2021, but the gauge still headed toward its lowest close in about five weeks. Benchmark 10-year bond rates topped 1.5% as the dollar climbed. The tech-heavy Nasdaq 100 extended its decline from a February peak to almost 10%, and the… Source link

(Bloomberg) — Treasury Secretary Janet Yellen is giving Federal Reserve Chairman Jerome Powell a bit of a headache when it comes to managing the money markets. Already low short-term interest rates are set to sink further, potentially below zero, after the Treasury announced plans earlier this month to reduce the stockpile of cash it amassed at the Fed over the last year to fight the pandemic and the deep recession it caused. The move, which aims to return its cash position at the central… Source link

MMA Weekly UFC Vegas 17 Bonuses: Stephen Thompson earns an extra $50,000 for main event win Four fighters who competed on Saturday’s UFC Vegas 17 fight card earned Performance of the Night bonuses worth an extra $50,0000. Stephen Thompson, Rob Font, Marcin Tybura, and Jimmy Flick were awarded the incentives announced the fight promotion following the event. For Thompson, it was the seventh time in his UFC tenure that he’s taken home a bonus. “Wonderboy” faced No. 11 ranked welterweight… Source link