Jerome Powell to Address High Loan Costs in Congress
Category: Economy Total Views: 134By : Kelly Martin Updated: 07-11-2024
Introduction: Powell's Upcoming Testimony Before Congress
This week, Federal Reserve chair Jerome Powell will testify before Congress to answer important concerns regarding excessive borrowing rates. Powell is booked to show before the House Finance Committee on Wednesday and the Senate Banking Committee on Tuesday. He will introduce the last week's Fed semiannual report on monetary policy. Legislators will challenge Powell on the Fed's high interest rate policy meant ... Read More
Fed Considers Rule Change to Save Big Banks Billions
Category: Economy Total Views: 111By : Henry Turner Updated: 07-09-2024
Federal Reserve Considers Rule Change to Save Big Banks Billions
Investigating a rule change that might save the biggest banks in the nation billions of dollars in capital is the U.S. Federal Reserve. This action is directed on the GSIB surcharge, an additional layer of capital applied on globally significant banks. Introduced in 2015 to improve the safety and soundness of the banks, the GSIB surcharge The Fed is debating changing the fixed 2015 values used in this computation. Th... Read More
Mixed Trends in Hiring and Layoffs Across Industries
Category: Economy Total Views: 104By : Logan Wright Updated: 07-02-2024
U.S. Job Openings Rise in May Despite Previous Declines
After notable drop in the previous two months, U.S. job openings rose in May. On last day of May, the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) revealed 8.140 million job openings. From April's revised estimate of 7.919 million, this rise comes to 221,000. The job market appears to be easing despite this rise. The lowest ratio since 2021—1.22 vacancies for every unemployed person in May&m... Read More
Powell Stresses Need for Sustainable Inflation Reduction
Category: Economy Total Views: 90By : Caleb Price Updated: 07-02-2024
Powell emphasizes the need for sustainable inflation reduction.
Before adjusting policy, Jerome Powell underlined the necessity of a sustainable lower of inflation. Speaking in a central banking conference, he underlined the Fed's measured approach. Powell observed that, although not yet definitive, recent inflation numbers are rather positive. The Fed wants a continuous trend toward its 2% target. Moving too fast could endanger the economic comeback. Powell's remarks capt... Read More
Mobius Predicts Stability in Emerging Markets with Trump
Category: Economy Total Views: 154By : Hannah Lewis Updated: 07-02-2024
Mark Mobius: Trump's Potential Impact on Emerging Markets
Globally minded investor Mark Mobius thinks a Trump win will help developing nations. Under Trump, he says these nations would feel more stable. According to Mobius, Trump's leadership could offer the consistency that developing nations so desperately want. He points out that Trump's business-friendly policies could help spur economic development. Furthermore, Trump's approach to deregulation could inspire c... Read More