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...President Joe Biden has called for higher taxes on the wealthy and large corporations, taken a tougher approach to antitrust enforcement, sided with labour unions in contract negotiations and criticised...
...On regional banks, I don’t think they’re back in the market lending right now. Instead, they are winding down their books a little bit....
...the chair of the Federal Deposit Insurance Corporation has warned....
...“Some of the biggest risks lie in countries where interest rates have been pulled up by global or regional factors without a corresponding increase in growth,” said Neil Shearing, chief economist at Capital...
...the US regionals....
...Many believe that regional economies that are performing slightly better than feared means a more painful recession can be avoided, while falling inflation will allow central banks to cut interest rates,...
...Twelve months after the failure of Silicon Valley Bank shook the regional banking sector, NYCB’s recent struggles have underscored the continuing fragility at some US lenders....
...But you are in the FOMC [Federal Open Market Committee], sitting around the table, you’re saying inflation has come down from the peak in 2022. That’s great. And went down from 9 per cent to roughly 3....
...Big bancassurers such as France’s Crédit Agricole and KBC of Belgium could capitalise on rule changes....
...start cutting its benchmark deposit rate from its record high level of 4 per cent in June, there is more doubt over the pace and total amount of policy loosening that will follow — especially if the US Federal...
...The market reaction came after the Federal Open Market Committee voted unanimously to leave rates unchanged at a 23-year high of 5.25 per cent to 5.5 per cent....
...One of the lab’s key strengths, note founders and VCs, is its sprawling network comprising industrial groups, such as Airbus and BMW, small and medium-sized enterprises, regional and international universities...
...Just like we saw during the Clinton administration, there will be plenty of growth to generate tax revenue and stabilise the federal deficit and government spending....
...If the Reagan‑Thatcher revolution was about crushing union power, the pendulum seems to be shifting in favour of labour. Unions are changing too....
...China’s “credit impulse” — the change in the flow of credit — was a “headwind for growth for much of the last year” but has now moved back into positive territory, BofA’s analysts said....
...Results at BofA, like its large competitors, were also dragged down by costs tied to last year’s regional banking crisis after the Federal Deposit Insurance Corp imposed another round of fees on the nation...
...But Biden, the president who has overseen this bonanza since defeating Trump in 2020, is getting little credit....
...The divergence between European and US credit spreads has played out primarily at the weakest end of the credit quality spectrum....
...The big market-mover yesterday, to our surprise, was not the Federal Reserve....
...Traditional parties have erected a “firewall” around the party, insisting they will never co-operate or form coalitions with it, either at a federal or regional level....
...The latest fall in NYCB’s stock was not echoed in the wider regional banking sector. The KBW Regional Bank index, which includes NYCB, closed down just 0.4 per cent on Wednesday....
...President Joe Biden’s landmark climate law, the Inflation Reduction Act, included tax credits to help make its expensive development more viable. New gas plants will face these rules starting 2032....
...Those programmes tend to put a bid under bonds, because they favour the use of bonds as collateral against the Fed’s credit,” he said....
...Delinquencies in credit card and commercial real estate loans were on the rise, the FDIC said, and were now at the highest level in almost a decade....
...This is particularly the case for regional banks which have to cope with rising credit losses in CRE portfolios....
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