Turkish Lira Sinks to Record Low After Erdogan Re-Election
Turkey’s currency, the lira, sank to a record low on Monday as markets reacted to the re-election of President Recep Tayyip Erdogan.
Turkey’s currency, the lira, sank to a record low on Monday as markets reacted to the re-election of President Recep Tayyip Erdogan.
On Friday’s broadcast of CNBC’s “The Exchange,” International Monetary Fund Managing Director Kristalina Georgieva discussed the IMF’s newest report on the U.S. economy and stated that “inflation is stubborn, it is way too high,” which “means that the Fed will have
Kemal Kilicdaroglu, the opposition candidate seeking to dethrone President Recep Tayyip Erdogan in a tense runoff election, which will conclude this weekend, went into the home stretch promising voters he will issue regulations to ease their credit card debts if he wins.
On Monday’s broadcast of CNBC’s “Squawk Box,” Atlanta Federal Reserve President Raphael Bostic said that he won’t be thinking about cutting interest rates “until well into” next year and that he probably wouldn’t cut interest rates if there was a
David Bahnsen, chief investment officer at The Bahnsen Group, discussed House Speaker Kevin McCarthy’s (R-CA) debt ceiling success earlier in the week and said President Joe Biden “will have to” negotiate with Republicans as a result.
The bottom line for next week’s meeting of the Federal Open Market Committee is another 25 basis point hike.
The first-quarter GDP report bears all the signs of stagflation and makes a Fed rate hike all but inevitable, Breitbart Economics Editor John Carney told Fox Business host Larry Kudlow.
Federal Reserve Chairman Jerome Powell could influence the current debt ceiling debate by informing Congress that the Fed will be forced to continue raising interest rates to counter the inflation fueled by government overspending, Breitbart Economics Editor John Carney said.
On Monday’s broadcast of CNBC’s “Squawk Box,” economist and President of Queens’ College Dr. Mohamed El-Erian stated that inflation has now migrated into areas of the economy that are not as sensitive to the Federal Reserve’s interest rate hikes and so
The stock market is still “at loggerheads with the Fed” thinking the central bank will cut interest rates this year, Breitbart Economics Editor John Carney told Fox Business host Larry Kudlow.
The Bank Panic Is Not Getting Worse The banking panic appears to have receded, at least for the time being. The Federal Reserve on Thursday released its weekly balance sheet report, affectionately known as “factors affecting reserve balances” or “H.4.1”
The money supply stayed higher for longer, so inflation and economic growth are likely to stay higher for longer too.
On Saturday’s broadcast of MSNBC’s “Velshi,” House Financial Services Committee Ranking Member Rep. Maxine Waters (D-CA) stated that raising interest rates to lower inflation “has not been working in the way that it should.” And “it doesn’t look good right
On Wednesday’s broadcast of CNN International’s “One World,” CNN host, International Business Correspondent, and CNN Business Editor-at-Large Richard Quest stated that the Federal Reserve’s interest rate hike will make things “worse” for banks because “all the banks are stuffed to
Federal Reserve Chairman Jerome Powell said on Wednesday that inflation remains “too high” and has a “likely bumpy” and “long way” to go until it reaches the intended two percent, where the Fed would like it to be.
The Federal Reserve continued to increase interest rates by quarter of percent (25 basis points) on Wednesday, a decision subject to speculation by financial experts, as the central bank weighed reducing soaring inflation and the stability of the banking system.
During an interview with CBS News on Tuesday, Moody’s Analytics Chief Economist Mark Zandi stated that the problems in the banking industry are the inevitable result of rate hikes by the Federal Reserve where “things are going to start to wobble and break and it’s going to feel uncomfortable.”
It seems very unlikely that the Federal Reserve will end its rate hike cycle.
On Tuesday’s broadcast of CNN International’s “One World,” Harvard University Economics Professor and former International Monetary Fund Chief Economist Ken Rogoff argued that “inflation’s deeply embedded in the rest of the economy.” And the Federal Reserve will have to keep
On Tuesday’s broadcast of CNN International’s “First Move,” Moody’s Analytics Chief Economist Mark Zandi stated that the February inflation report does justify a hike in interest rates because inflation is “still a little on the hot side.” But, given the
On Friday’s broadcast of the Fox News Channel’s “Your World,” House Ways and Means Committee Chairman Rep. Jason Smith (R-MO) reacted to the collapse of Silicon Valley Bank (SVB) by noting that interest rates have been rapidly skyrocketing, arguing President
Chris Whalen, chairman of Whalen Global Advisors, blamed Federal Reserve Chair Jerome Powell for the failure of Silicon Valley Bank (SVP) in a Friday interview on Forward Guidance with host Jack Farley.
The market’s expectations for the rate hike coming out of the March meeting of the Federal Open Market Committee (FOMC) moved violently on Tuesday as the Fed chief testified before the Senate Banking Committee.
Hotter than expected data has forced the Fed to rethink the pace and peak of interest rates.
The Federal Reserve officials may “chicken out” from raising interest rates at their next meeting, Breitbart Economics Editor John Carney told Fox Business’ Larry Kudlow.
Following a week of data showing unexpectedly resurgent inflation, fed funds futures contracts now indicate the Federal Reserve will hike its target rate up by half a percentage point in the coming months.
During an interview aired on Friday’s edition of Bloomberg’s “Wall Street Week,” Harvard Professor, economist, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers stated that he believes the debt-to-GDP
The Federal Reserve is likely to have to keep raising interest rates to a “sufficiently restrictive level” to bring down inflation, Federal Reserve Governor Michelle Bowman said Monday. “I expect that ongoing increases will be appropriate to bring the federal
FRANKFURT, Germany (AP) – The European Central Bank chugged ahead with another outsized interest rate hike Thursday and vowed more to come, underlining its drive to subdue inflation even as the European economy slows and the U.S. Federal Reserve eases its pace of increases.
LONDON (AP) – The Bank of England raised interest rates by half a percentage point Thursday as it sought to tame double-digit inflation that is fueling a cost-of-living crisis, public-sector strikes and fears of recession.
FRANKFURT, Germany (AP) – The European Central Bank is set for another large interest rate increase to fight painfully high inflation even after the U.S. Federal Reserve slowed its pace, a divergence that underlines Europe’s later start and could speed the euro’s rebound from recent lows against the dollar.
On Thursday’s broadcast of CNBC’s “Squawk Box,” Kansas City Federal Reserve President Esther George stated that she believes the federal fund rates will be over 5% “until we get the signals that inflation is really convincingly starting to fall back toward
Fed chair says he is going to stand his ground on the inflation target.
On Friday’s broadcast of “CNN Newsroom,” Labor Secretary Marty Walsh stated that he hasn’t “seen what the impacts” of the Federal Reserve rate hikes are, and “All I know is that every month, we’re seeing more and more jobs added
On Thursday’s broadcast of MSNBC’s “Morning Joe,” Steve Rattner, who served as counselor to the Treasury Secretary in the Obama administration, predicted higher interest rates “for the foreseeable future,” and said that inflation isn’t declining in part due to people still
The poet and essayist Ralph Waldo Emerson is often credited with advising that “life is a journey not a destination.” Federal Reserve Chairman Jerome Powell on Wednesday told us that for the Federal Reserve, it is the destination that matters more than the journey.
Fed officials agreed Wednesday to lift the benchmark federal-funds rate by three-quarters of a percentage point to a range between 3.75 and four percent.
On Monday’s broadcast of CNN’s “The Lead,” Sen. Elizabeth Warren (D-MA) claimed that Republicans are the ones who want the Federal Reserve to engage in interest rate hikes that will “put millions of people out of work.” Warren said, “I
“We need to have a slowdown. There’s no question about that. But I do think that we’re going to do all we can at the Federal Reserve to avoid deep, deep pain,” Bostic said.
Powell looks at trailing inflation figures and finds there’s been little progress, contradicting President Biden’s claims that a lot of progress has been made on inflation.