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...Central banks take centre stage this week, Benjamin Netanyahu defies western allies over his strategy in Gaza, and the US National Labor Relations Board is facing challenges from some major companies....
...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...The flipside to higher interest rates is people also want more for their savings....
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...US inflation unexpectedly increased to 3.2 per cent last month, highlighting the challenge faced by the Federal Reserve in the “last mile” of its fight against rising prices....
...But banks are finally having to pass on higher savings rates to depositors, according to JPMorgan and Wells Fargo, which also reported earnings....
...You see the same thing when you look at savings — the amount of money people have in checking and savings accounts across the income distribution. Look at people who make less than $25,000 a year....
...Federal Reserve chair Jay Powell has said he still expects inflation to fall towards the US central bank’s 2 per cent goal, as new data highlighted the bumpy road ahead for officials as they debate when...
...Some expect the Federal Open Market Committee to upgrade its 1.4 per cent GDP growth estimate for this year then too....
...Banks are unlikely to offer the same high yield on their savings accounts due to costs of intermediation. Direct debt sales to retail investors will therefore suck out funds from bank accounts....
...banks....
...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...From the bank: When can we expect sagging S&L tax revenues to moderate consumption and gross investment growth?...
...The Federal Reserve is “not far” from having the confidence to start cutting interest rates, its chair Jay Powell has said, bolstering hopes that the central bank will lower borrowing costs in the coming...
...savings accounts have moved from .06 per cent in 2022 to a lordly .46 per cent today)....
...Growth and employment remain strong — so strong, in fact, that expectations for Federal Reserve interest rate cuts are being pushed further into the future....
...They have been able to charge more for loans because of the interest rates being increased by the Federal Reserve, but they haven’t been passing on these higher savings rates to depositors at the same rate...
...— Argentina recently had a big win in court thanks to a “magic bullet” in its GDP warrants, via Friends of Alphaville Mitu Gulati and Mark Weidemaier (Clauses & Controversies) — Banks seem . . . not uniformly...
...The fact that the rises are small and that this is not the Federal Reserve’s preferred measure of inflation is not enough to negate the signal, especially combined with this week’s gangbusters US retail...
...England, European Central Bank and the Federal Reserve....
...It is increasingly infiltrating the likes of the Federal Reserve Board, the European Central Bank and the Bank of England. And it is one of the few acronyms for which economists deserve forgiveness....
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