An aerial view of sea containers stacked at Yangshan Deepwater Port, the world’s largest automated container terminal, in Shanghai, China, May 21, 2021. Video | Visual China Group | Getty Images Recent turmoil surrounding U.S. and European banks has highlighted China as a “relatively safe haven” this year, Citi economists said in a note on … Read more
U.S. Treasury Secretary Janet Yellen testifies at a House subcommittee hearing in Washington, D.C. Alex Wong | Getty Images News | Getty Images The report comes from today’s CNBC Daily Open, our new international markets newsletter. The CNBC Daily Open gives investors a quick overview of everything they need to know, no matter where they … Read more
Federal Reserve Chairman Jerome Powell holds a news conference after the Federal Open Market Committee meeting March 22, 2023 in Washington, DC. Alex Wong | Getty Images News | Getty Images The report comes from today’s CNBC Daily Open, our new international markets newsletter. The CNBC Daily Open gives investors a quick overview of everything … Read more
A major Wall Street firm cited financial instability, not inflation, as the biggest economic risk for the next three months. in subsequent interviews Fed hikes rates by 25 basis pointsMichael Schumacher of Wells Fargo Securities said policymakers were underestimating how quickly tighter credit conditions could hurt the economy. The firm’s head of macro strategy told … Read more
Federal Reserve Building, Washington, DC Lance Nelson | Image Bank | Getty Images The Fed will hike rates one more time in 2023 before the central bank ends its war on inflation, according to the median forecast released Wednesday. The Fed left its “terminal rate,” the rate at which its benchmark federal funds rate will … Read more
The Fed announced a 25 basis point interest rate hike on Wednesday, expressing its cautious attitude towards the recent banking crisis and indicating that the rate hike is nearing completion. In raising interest rates for the ninth time since March 2022, the rate-setting Federal Open Market Committee noted that future hikes are uncertain and will … Read more
What the Fed Funds Rate Means for You “The banking problems probably make a lot of people think twice,” said Diana Furchtgott-Roth, a George Washington University economics professor and former chief economist at the Labor Department. “People are less confident,” she said, referring to the wealth effect, or the fact that people spend less when … Read more
Jerome Powell, Chairman of the Federal Reserve. Bloomberg | Bloomberg | Getty Images The U.S. central bank will wrap up a two-day meeting on Wednesday filled with uncertainty as it works to reduce inflation and stabilize a troubled banking sector. Right now, the two goals appear to be in conflict: lowering inflation requires equally higher … Read more
CNN — All eyes are on the Fed as it prepares to announce another potential rate hike Wednesday afternoon – exactly 10 days after the Biden administration stepped in dramatic emergency action to contain the fallout from the collapse of two banks. Biden White House officials will be watching the highly anticipated interest rate decision … Read more
Treasury Janet Yellen speaks at the American Bankers Association Washington Summit March 21, 2023 in Washington, DC. Drew Angler | Getty Images News | Getty Images The report comes from today’s CNBC Daily Open, our new international markets newsletter. The CNBC Daily Open gives investors a quick overview of everything they need to know, no … Read more