- Story Log
User | Time | Action Performed |
---|---|---|
-
US, China Exploring New Debt Relief Options to Avoid Wave of Emerging-Market Defaults
The US and China are discussing new measures to prevent a wave of emerging market sovereign defaults, according to people familiar with the situation, one of the most significant attempts in years at economic cooperation between the rival superpowers. The talks — including ways to preemptively extend loan periods before countries miss payments — are broadly aimed at both easing the $400 billion-plus annual debt service burden for poor countries and finding an alternative to the high borrowing rates those nations now face in the market. In addition to extending repayment times, other ideas being discussed include ... (full story)
- Comments
- Subscribe
-
- Older Stories
Nvidia rose 16%, bringing AI mania back in focus and pushing broader US indices to all-time highs. US exceptionalism was also boosted further by strong PMIs and lower jobless ...
post: FED'S WALLER: CRE IS PREDICTABLE, MANAGEABLE, SHOULD NOT CAUSE MAJOR CRISIS
Thank you, Dean Dunham and the University of St. Thomas for the opportunity to speak to you today. Given that this event is co-sponsored by the Notre Dame Club of Minnesota, and I taught at Notre Dame for 13 years, I will lead off with this thought: Go Irish! When I last spoke on January 16, the data we had received up to that point was very good—three- and six-month measures of core personal consumption expenditures (PCE) inflation were running right at 2 percent, which is our goal for total inflation, the labor market was cooling but still healthy, and real gross domestic product (GDP) was likewise growing but expected to moderate in the fourth quarter. I argued then that the data was "almost as good as it gets." And I argued that because the economy was doing so well, we could take our time and collect more data to ensure that inflation was on a sustainable 2 percent path. There was no rush to cut rates any time soon. Since then, we received data on fourth quarter GDP as well as January data on job growth and consumer product index (CPI) inflation. All three reports came in hotter than expected. GDP growth came in at 3.3 percent, well above forecasts. Jobs grew by 353,000, well over forecasts of less than 200,000, and monthly core CPI inflation came in at 0.4 percent, which was much higher than it had been for the previous six months. So, the data that we have received since my last speech has reinforced my view that we need to verify that the progress on inflation we saw in the last half of 2023 will continue and this means there is no rush to begin cutting interest rates to normalize monetary policy. Last week's report on consumer prices in January was a reminder that ongoing progress on inflation is not assured. The uptick in inflation in that report was spread widely among goods and services. This one month of data may have been driven by some odd seasonal factors or outsized increases in housing costs, or it may be a signal that inflation is stickier than we thought and will be harder to bring back down to our target. We just don't know yet. While I believe inflation is likely on track to reach 2 percent in a sustainable manner, I am going to need to see more data to sort out whether January's CPI inflation was more noise than signal. This means waiting longer before I have enough confidence that beginning to cut rates will keep us on a path to 2 percent inflation. post: Fed’s Waller: Data Received Since Last Speech on Jan 16 Has Reinforced My View We Need to Verify Inflation Progress From Last Half of 2023 Will Continue Fed’s Waller: This Means There’s No Rush to Begin Cutting Interest Rates post: Fed’s Waller: CPI Report Last Week is a Reminder That Ongoing Progress on Inflation’s Not Assured Waller: Need to See More Data to Know if January CPI Was ‘More Noise Than Signal’ Waller: Latest Data on Job Openings and Quits May Indicate Labor Mkt Moderation May Have Stalled post: Fed’s Waller: Cutting Too Soon Could Squander Inflation Progress and Risk Considerable Harm to Economy Fed’s Waller: Puzzled by Narrative That Delaying Cuts for a Meeting or Two Risks Causing a Recession Fed’s Waller: There Are No Indications of Imminent Recession post: Fed’s Waller: Recent Hotter-Than-Expected Data Validates Chair Powell’s ‘Careful Risk Management Approach’ Fed’s Waller: Still Expect to Ease Policy This Year Fed’s Waller: Several Indicators Suggest Some Slowing in Growth
-
- Newer Stories
The yen sagged to fresh lows on the euro, sterling and other crosses this week and headed for a fourth weekly drop on the dollar as investors chased better yields just about ...
Constrained on all sides, China’s central bank is aiming to squeeze more value out of its policy actions by catching markets unaware with surprise easing aimed at putting a floor ...
China’s stock investors could be excused for feeling like President Xi Jinping is disinterested in their plight as market valuation losses mount. Bond punters seem ascendant, ...
- Story Stats
- Posted: Feb 22, 2024 9:02pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,469