European quantitative easing: Reality bites
On June 14 Mario Draghi announced that quantitative easing in Europe would continue until December this year, with monthly purchases reduced to €15 billion a month from €30 billion in the interim. The ECB president indicated, however, that interest rates...
Bitcoin hasn’t bottomed yet, says BitMEX co-founder
Bitcoin is rallying. The digital tokens were priced around $7,400 on Thursday at 5:30 p.m. ET — an increase of more than 10 percent from a month ago, according to Coinbase. But Arthur Hayes, the bitcoin bull who predicted the...
Fed being ‘very aggressive’ on rates and ignoring things they shouldn’t: Ex-Dallas Fed VP
President Donald Trump has a point — the Federal Reserve is being “very aggressive” about raising interest rates, former Dallas Fed Vice President Jerry O’Driscoll told CNBC on Thursday. “They’re ignoring things they should be paying attention to like the...
After-hours buzz: SKX, COF & more
Check out the companies making headlines after the bell: Shares of Skechers plummeted more than 20 percent in extended-hours trading. The shoe company missed analysts’ earnings expectations for its second quarter, posting only 29 cents per share compared with the...
White House: Trump is not interfering with Fed policy decisions
The White House clarified statements made by President Donald Trump to CNBC about the Federal Reserve and its decision to raise interest rates this year. In a statement to CNBC, the White House said: “Of course the President respects the...
Trump lays into the Fed, says he’s ‘not thrilled’ about interest rate hikes
In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central bank could disrupt the economic recovery. Presidents rarely intercede when it comes to the Fed, which sets the benchmark interest...
Tallying Up Tariffs: The Effect on Inflation
Executive Summary Trade tensions have been escalating since the spring when President Trump announced tariffs on steel and aluminum imports. Tit-for-tat responses to the initial tariffs levied by the administration earlier this year are beginning to add up. Supply chain...
Gold Slide Resumes as Jobless Claims Slide
Gold has resumed its losing ways in the Thursday session, after showing little change on Wednesday. In North American trade, the spot price for one ounce of gold is $1217.53, down 0.83% on the day. On the release front, manufacturing...
Automakers push back on EU tariff plan, saying there’s no evidence imports affect national security
Auto executives pushed back Thursday on the Trump administration’s proposal to dramatically raise tariffs on auto imports from the EU. Industry executives, testifying at the first of a two-day hearing being held by the U.S. Commerce Department, warned against the...
Copper — a metal with a history of predicting economic trouble — hits 1-year low, nears bear market
Copper prices reached their lowest levels in a year on Thursday amid concerns that a global trade war could strain global supply chains and slow down the global economy. The metal’s futures for September delivery traded as low as $2.6735...
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