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Swiss Franc Enjoys Its Safe-Haven Status
The escalation of the conflict in Eastern Europe has rekindled investor interest in the seemingly forgotten Swiss franc. Taking advantage of its safe-haven status, it strengthened against the US dollar against the backdrop of Russia's revised nuclear doctrine. Fears of war reaching a new level led to a drop in US Treasury yields and forced USDCHF bulls to retreat. The market is riddled with contradictions regarding the seriousness of Russia's intentions. On the one hand, Moscow claims that nuclear weapons are primarily a weapon to prevent nuclear war. On the other hand, the Kremlin is unlikely to hesitate for long if ... (full story)
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Good afternoon. It is a pleasure to join you for today's meeting of the Forum Club of the Palm Beaches. It is truly humbling for me to be invited to speak to your membership, in the company of the many influential leaders, authors, and other public figures this organization has hosted since its founding in 1976. Before turning to the main topic of my remarks today, I want to briefly share with you a bit about my background. I am one of the longest serving members currently on the Board of Governors of the Federal Reserve System (Board), having served as a Board member since November 26, 2018. As a member of the Board, I am a permanent voting member of the Federal Open Market Committee (FOMC) and serve in other capacities—I lead the Board committees on smaller and community banks and on consumer and community affairs and serve as a member on other committees that broadly address supervision and regulation and payments. I also provide input into the full range of matters that come before the Board. I am the first Governor appointed to fill the role created by Congress for someone with demonstrated primary experience working in or supervising community banks, banks with less than $10 billion in assets.2 I have been both a banker, working in the community bank owned and operated by my family since 1882, and a bank supervisor—as the Kansas State Bank Commissioner. Early in my career, I spent almost a decade working in public service in several federal government roles, including setting up the Department of Homeland Security after 9/11 and as a Deputy Assistant Secretary and policy advisor to the first Homeland Security Secretary, Tom Ridge. I also served as a counsel on several U.S. House Committees, and as a staff member for the former U.S. Senator from Kansas, Bob Dole. These experiences have provided me with a post: Fed’s Bowman: Should Pursue Cautious Approach On MonPol - May Be Closer To Neutral Than Policymakers Currently Think, Says Inflation Is A Concern - Says She Sees Neutral Rate ‘Much Higher’ Than Pre-Pandemic - Backed November Cut As It ‘Aligns’ With Her Preference To Gradually… post: FED'S BOWMAN: THE ECONOMY IS STRONG, THE LABOR MARKET IS NEAR FULL EMPLOYMENT, AND INFLATION IS ELEVATED. post:
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- Posted: Nov 20, 2024 1:47pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,868