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...“It feels like a problem we’ll be working on for years,” Powell said about the exposure of regional banks to commercial real estate, particularly offices, that are less valuable than they were before the...
...“Having the tax business connected to assurance and advisory is critical, but structurally I don’t need those businesses to be smashed together for that to happen.”...
...Bets of just one cut rose after Powell’s remarks....
...“When we do get that confidence, and we’re not far from it, it will be appropriate to dial back the level of restriction so that we don’t drive the economy into recession.”...
...Powell said in San Francisco. “Our position is we don’t know. We’ll tell you what we’ll do if inflation does come down. That’s the base case, that’s what we expect.”...
...So I think it’s a bit shallow and a bit desperate, and I don’t think it’s gonna work. Lucy Fisher Stephen, who are you buying or selling?...
...I don’t think that’s the base case,” Powell said in comments that prompted traders to slash their bets on a cut this spring and sent stocks sharply lower....
...Last week, Fed chair Jay Powell told a Senate hearing that commercial real estate does pose a risk to a number of small and mid-sized banks. “There will be more failures,” Powell said....
...Still, the committee would avoid “dismissing data that we don’t like”, he said. Powell also downplayed the risks that the US’s persistently hot labour market would hinder the inflation fight....
...“And when we do get that confidence, and we’re not far from it, it will be appropriate to dial back the level of restriction so that we don’t drive the economy into recession.”...
...But Powell’s stern sounds yesterday could easily turn serene tomorrow....
...To mark this moment while it doesn’t yet feel like a mistake, we’ve added a festive Jerome Powell-themed design to our Redbubble store: — Jerome Powell, Christmas Saviour (black text)— Jerome Powell, Christmas...
...“I don’t have a stance on that,” Powell said. “It’s not something I’m focused on . . ....
...So I don’t think it’s apolitical. I just think, you know, people wanted . . . a lot of dissenters wanted a very different movie. Stephen Bush Yeah, I think that’s exactly it....
...Don’t we advise companies on this?”...
...Other notable Goldman Sachs female executives who have left the firm or have announced departure plans include Beth Hammack, a top investment banker; Katie Koch, now head of money manager TCW, and Dina Powell...
...There’s also a link there to Stephen Bush’s award-winning Inside Politics newsletter. You get 30 days free. And don’t forget to subscribe to the show....
...Don Hankey, a Los Angeles-based subprime auto loan billionaire, has said two of his biggest early-career mistakes were to only do business with honest people and to trust his gut to pick those people out...
...So although YouGov’s latest MRP shows us nothing the polls don’t already, it will still create anxiety among Tory MPs....
...“Plans for Model 2 will likely get most attention but don’t expect a satisfying answer,” Levy said. The company’s quarterly results are also expected to be underwhelming....
...(Even the major parties don’t stand in every single council ward across Great Britain.)...
...For coming up to a decade now, a series of reports by McKinsey have found that diverse leadership teams get better returns than those that don’t....
...Now, of course, only a negligible number of people who write to their MPs to say that Enoch Powell was right or that they are an enemy of Islam will ever make the transition from mad messages to terror attacks...
...Just don’t think that means new cuts are imminent....
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