Biden picks Jerome Powell to lead the Fed for a second term as the U.S. battles Covid and inflation
Jerome Powell, who guided the Federal Reserve and the nation’s economy through the staggering and sudden Covid-19 recession by implementing unprecedented monetary stimulus, is being nominated for a second term as chairman of the U.S. central bank. President Joe Biden...
Home sales rose in October as investors rushed into the market
Real estate broker Rebecca Van Camp places a “Sold” placard on her sign in front of a home in Meridian, Idaho, on Wednesday, Oct. 21, 2020. Darin Oswald | Tribune News Service | Getty Images Sales of previously owned homes...
Here’s what you need to know about Lael Brainard, Biden’s pick for vice chair at the Fed
U.S. Federal Reserve board member Lael Brainard speaks after she was nominated by U.S. President Joe Biden to serve as vice chair of the Federal Reserve, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in...
Stocks making the biggest moves midday: General Motors, Astra, Activision Blizzard and more
The GM logo is seen on a water tank of the General Motors assembly plant in Ramos Arizpe, in Coahuila state, Mexico February 11, 2021. Daniel Becerril | Reuters Check out the companies making headlines in midday trading. Activision Blizzard...
RBNZ Meeting: Single or Double Rate Hike?
The Reserve Bank of New Zealand (RBNZ) will wrap up its latest meeting at 01:00 GMT Wednesday. A rate increase is definitely on the menu – the real question is how much rates will be raised. There’s no real reason...
Euro Soft But No Fresh Selloff Yet
Euro stays generally soft today even though there is no follow through selling yet. It’s reported that Germany’s acting Chancellor Angela Merkel urged in a CDU meeting tougher restrictions to combat the fourth wave of coronavirus infection. But the news...
US Dollar Index Outlook: Rising Hopes of Early Fed Rate Hhike
US Dollar Index The dollar is holding near the new highest in over 16 months on Monday, maintaining a positive tone on growing hopes that Fed may accelerate tapering stimulus and open way for earlier than expected rate hike, as...
RBNZ To Lift Policy Rate Again after Strong Inflation
The RBNZ is ready to increase the policy rate again this week. The question is whether, in light of the latest strong inflation data, whether the hike is +25 bps or +50 bps. We continue to expect the former. Several...
The ECB Will To Take Action On Inflation Anytime Soon
Markets Rising European corona infections forced governments to take new containment measures last week, triggering a broad risk-off repositioning with Europe evidently in the eye of the storm. Uncertainty on the short-term impact on EMU growth only reinforced doubts whether...
Market Consolidates in Tight Range But Euro Looks Vulnerable
The forex markets are generally staying in tight range in Asian session, digesting last week’s moves. Euro remains generally soft and looks vulnerable to extend the near term decline, in particular against commodity currencies and Yen. Sterling is so far...
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