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Day: June 14, 2021

Paul Tudor Jones rips Fed on inflation, says credibility is at stake

The Federal Reserve is risking its credibility by keeping policy so loose and allowing inflation to grow in a way that may not be temporary, billionaire hedge fund manager Paul Tudor Jones told CNBC on Monday. This week could see “the most important meeting in [Chairman] Jay Powell’s career, certainly the most important Fed meeting …

Paul Tudor Jones rips Fed on inflation, says credibility is at stakeRead More

Bank of America CEO Brian Moynihan says consumer spending is 20% higher this year than 2019

American consumers are spending more freely as the economy opens up further, Bank of America CEO Brian Moynihan said Monday. Transaction volumes on customers’ credit and debit cards and over the Zelle payment network have grown by 20% so far in 2021 compared to this point in 2019, Moynihan told CNBC’s Becky Quick on “Squawk …

Bank of America CEO Brian Moynihan says consumer spending is 20% higher this year than 2019Read More

Loonie Needs Some Help to Return to Gains; Canada CPI on Cards

Canada will announce its inflation data for the month of May at 12:30 GMT on Wednesday. Global economic activity is picking up as COVID-19 incidences decline in many nations and vaccine coverage rises. However, growth is still uneven across the country. Will the loonie move higher again after a couple of days of losses? Annual CPI is forecast to tick higher …

Loonie Needs Some Help to Return to Gains; Canada CPI on CardsRead More

FOMC Preview – Too Early to for Tapering while Surge in Inflation is More Imminent

We do not expect the Fed talk about tapering at this week’s meeting. Policymakers would likely hint more about it at the Jackson Hole symposium in August while a formal announcement would be made at the September FOMC meeting. Rather, we are more interested in its view on the rapid increase in both headline and …

FOMC Preview – Too Early to for Tapering while Surge in Inflation is More ImminentRead More

Bank of America’s Moynihan says the Fed can pull back on policy help

Bank of America CEO Brian Moynihan encouraged the Federal Reserve to ease up on its ultra-easy monetary policy, saying Monday that the urgency for the pandemic-related response is abating. Speaking a day before the central bank begins its June policy meeting, the head of the second-largest U.S. banks by assets told CNBC that inflation-related issues …

Bank of America’s Moynihan says the Fed can pull back on policy helpRead More

US Open: Tech Rises, Bond Yields Fall as Investors Await Fed Decision

Tech stocks are set to outperform, bond yields continue to decline ahead of the FOMC. The Fed is expected to maintain its dovish stance. The rotation into value appears to be unwinding with tech once again back in favour. US futures Dow futures -0.1% at 34430 S&P futures +0.03% at 4246 Nasdaq futures +0.3% at …

US Open: Tech Rises, Bond Yields Fall as Investors Await Fed DecisionRead More