Fund legend Rick Rule says the Fed won’t keep hiking rates aggressively, even to prevent ‘amazing damage.’ Here are 3 spots he likes for your money

‘They’ll chicken out’: Fund legend Rick Rule says the Fed won’t keep hiking rates aggressively, even to prevent ‘amazing damage.’ Here are 3 spots he likes for your money The Fed is raising interest rates aggressively in an attempt to tame raging inflation. But according to legendary investor Rick Rule, former president and CEO of … Read more

Bond market prices in Fed U-turn as recession risks rise

The Federal Reserve has made clear it wants to raise interest rates to lower inflation without triggering large-scale job losses. But a rally in the bond market this week shows investors doubting the Fed’s ability to thread this needle. Friday’s trading session extended a week of falling yields as investors snatched up bonds; yields on … Read more

Gold bound for worst quarter in over a year on hawkish Fed

Breadcrumb Trail Links PMN Business Author of the article: Reuters Ashitha Shivaprasad Article content Gold slipped on Thursday, heading for its worst quarter in five as a hawkish tone from global central banks dimmed appeal for the non-yielding asset. Spot gold fell 0.6% to $1,806.55 per ounce by 2:36 p.m. ET (1836 GMT), on track … Read more

Fed U-turn likely if US enters recession but risk-appetite may rise only gradually

The final estimate for March quarter GDP in the US suggested the world’s largest economy shrank 1.6 per cent in the quarter. But at the same time, Fed Chair Jerome Powell made a do-what-it-takes statement saying Fed would not let the economy slip into a higher inflation regime even if it means raising interest rates … Read more

Fed policymakers embrace more rate hikes, markets a little less By Reuters

© Reuters. FILE PHOTO: People shop in a supermarket as inflation affected consumer prices in Manhattan, New York City, U.S., June 10, 2022. REUTERS/Andrew Kelly/File Photo By Ann Saphir and Lindsay (NYSE:) Dunsmuir (Reuters) -A pair of U.S. central bankers said on Friday they supported further sharp interest rate hikes to stem rapid price rises, … Read more

Bitcoin Crash? It’s A ‘Crypto Ice Age’ — And Fed Rate Hikes Are A Big Reason

Bear markets have grown almost routine for Bitcoin and other cryptocurrency prices. Since its 2009 launch, Bitcoin’s price has tumbled more than 50% six times. X Coinbase (COIN) CEO Brian Armstrong, in a June 14 letter announcing an 18% staff cut, offered assurance despite the latest Bitcoin crash and walloping of other crypto prices. Armstrong … Read more

JPMorgan cuts hundreds of mortgage jobs after Fed rate hike

JPMorgan Chase & Co. is letting hundreds of employees go in its home lending division this week as surging inflation and mortgage rates slam the brakes on the red-hot housing market, according to a Bloomberg News report. A JPMorgan spokesperson cited “cyclical changes in the mortgage market” as the reason behind the cuts. More than … Read more

Powell sees ongoing Fed rate hikes needed to tame hot inflation

Federal Reserve Chair Jerome Powell said the central bank will keep raising interest rates to tame inflation following the steepest hike in almost three decades, though policy makers must be “nimble” as various shocks buffet the world’s largest economy. “We anticipate that ongoing rate increases will be appropriate,” Powell said Wednesday in the text of … Read more

China’s yuan weakens ahead of Fed Chair Powell’s testimony

Breadcrumb Trail Links PMN Business Author of the article: Article content SHANGHAI — China’s yuan weakened on Wednesday ahead of Federal Reserve Chair Jerome Powell’s testimony to Congress later in the day, with traders looking for further clues on how aggressively the Fed will hike rates at its July meeting and beyond. The People’s Bank … Read more