Powell doesn’t see the Fed ever using negative interest rates, even in times of crisis
Federal Reserve Chairman Jerome Powell shut down the notion that the Fed would use negative rates as a tool to combat future economic weakness. “I do not think we’d be looking at using negative rates, I just don’t think those...
Powell says it’s possible the Fed will have to resume balance sheet growth
Federal Reserve Chairman Jerome Powell said Wednesday that the Fed may have to resume the organic growth of its balance sheet sooner than expected to help ease money markets. “Going forward, we’re going to be very closely monitoring market developments...
Powell says a ‘sequence’ of rate cuts could be needed if economy turns, but doesn’t see that now
Jerome Powell, chairman of the U.S. Federal Reserve, waits for the start of a House Financial Services Committee hearing in Washington, D.C., on Wednesday, July 10, 2019. Andrew Harrer | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell pledged...
Europe’s banks may be at risk of failing if negative rates continue: EIU
Large banking institutions face the risk of failure if interest rates in Europe continue to stay negative, an economist told CNBC after the European Central Bank cut rates last week. “I think there are big questions to banking sector profitability,”...
Fed expected to cut rates and Powell may have hard time appeasing critics inside and outside Fed
The Fed is expected to cut interest rates for the second time in a decade Wednesday, but Fed Chairman Jerome Powell is unlikely to deliver the message markets want to hear on plans for future rate cuts. “He’ll underwhelm everyone...
Fed rate cut is coming, but some market insiders doubt it’s really necessary
Federal Reserve Board Chairman Jerome Powell reacts after the two-day meeting of the Federal Open Market Committee on interest-rate policy on June 13, 2018, when it raised its benchmark rate to 1.75% to 2%. If the Fed cuts this week,...
Homebuilder sentiment surges to highest level of the year, but there are warning signs
Workers install roof trusses on a home under construction in Denver. Steve Nehf | The Denver Post | Getty Images) Confidence among the nation’s homebuilders rose 1 point to 68 in September in the National Association of Home Builders/Wells Fargo...
FX: Last-look acceptance still boils down to caveat emptor
Last look in the FX market is under scrutiny again. In August, six non-bank liquidity providers – Citadel Securities, Flow Traders, HC Tech, Jump Trading, Virtu Financial and XTX Markets – issued statements criticizing the practice. This followed the publication of data...
Chevron CEO says attack on Saudi Arabia’s oil facilities shows that ‘risk is real’
Michael Wirth, CEO of Chevron. Adam Jeffery | CNBC The attack against Saudi Arabia’s oil facilities is a wake-up call to dangers in the oil market, according to Chevron CEO Michael Wirth. “Perhaps the market had grown a little bit...
Expectations suddenly are rising that the Fed might not cut interest rates this week
Surging energy prices Monday helped add to sentiment that the Federal Reserve suddenly might not be in such a hurry to cut interest rates. While markets still see the central bank lowering its benchmark overnight lending rate by a quarter...
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