Larry Summers: 50 percent chance of a US recession by 2020
Former Treasury Secretary Larry Summers has put the chances of a U.S. recession at 50 percent within the next two years. The economist told CNBC’s Joumanna Bercetche on Thursday that a slowdown in growth was a “near certainty” before adding...
Fed set for a broad review on how it conducts policy in 2019
The Federal Reserve in 2019 will launch a broad look at how it conducts policy and conveys what is doing to the public. Central bank officials announced Thursday that they will look at “strategies, tools, and communication practices” the Fed...
Elizabeth Warren says the Fed is making the same mistakes as before the crisis: ‘Deeply worrisome’
Ahead of the financial crisis, a buildup of leverage on bank balance sheets that went largely undetected by regulators helped cause the worst downturn since the Great Depression. Sen. Elizabeth Warren is afraid the same thing is happening again a...
Why Spain’s hostile environment matters even to its global banks
An activist from the Mortgage Victims’ Association takes part in a protest outside the Supreme Court in Madrid in November Public opinion is vital to a bank’s success, wherever it is based, but it is particularly important in Spain. This...
CHFJPY Bearish Risks Alive in Short and Medium Term
CHFJPY lost significant ground after the spectacular rally towards the pair’s highest since February of 118.05, falling as low as 111.54. Even though it attempted to recoup losses early this month, the pair somewhat reentered bearish mode this week, with...
British Pound Plunges as May Under Attack Over Brexit Deal
GBP/USD is down sharply in the Thursday session, as the turmoil over Brexit has weighed heavily on the British pound. In North American trade, the pair is trading at 1.2758, down 1.77% on the day. On the release front, British...
Elliott Wave Analysis: S&P500 and Nasdaq100 Update
S&P500 like Nasdaq found a new low, with an ending diagonal within wave v. We can now see price trading at possible Fibonacci support around 200.0 and 261.8, from where a new bounce and a temporary reversal in three-waves may...
US and China rivalry for supremacy goes way beyond trade, says founder of world’s largest hedge fund
The dispute between the U.S. and China over trade deficits and surpluses is rather trivial compared to the broader philosophical differences between the world’s two biggest economic superpowers, Bridgewater Associates founder Ray Dalio told CNBC on Thursday. “The trade war,...
US: Retail Sales Rebound in October
After disappointing in September, retail sales advanced by 0.8% m/m in October – well ahead of expectations for a 0.5% gain. The weak September print was revised down further to -0.1% from 0.1% gain reported previously. Sales at autos and...
UK in Political Turmoil as No Confidence Vote Waiting on the Line, Pound Tumbles Broadly
Sterling is sold off broadly today as Brexit optimism quickly turned into political turmoil. UK Prime Minister Theresa May appeared to have secured Cabinet support on her Brexit agreement with EU. But in less than 24 hours, four ministers resigned...
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