Wednesday, June 29, 2022
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New York Fed President John Williams says a U.S. recession is not his base case

New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation."A recession is not my base case right now," Williams told CNBC's Steve Liesman during a live "Squawk Box"

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Indian banks to witness surge in margins in FY23: Moody’s

Indian banks might witness growth in net interest margins (NIMs) in the current financial year (FY23), revealed a report by Moody’s Investor Service on Monday. NIM is the difference between the interest income earned and the interest paid by a bank to its interest-earning assets. The widening of these margins can

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‘Apathetic’ investors will embrace banks: RBC top analyst predicts comeback in year’s second half

Investors who are "apathetic" or negative toward banks will change their stance in the year's second half, according to RBC Capital Markets' top banking analyst.Gerard Cassidy predicts bullishness will make a comeback due to strong revenue growth and optimism surrounding credit."You can really see people coming back to [bank]

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Powell tells Congress the Fed is ‘strongly committed’ to bringing down inflation

Jerome Powell, chairman of the US Federal Reserve, arrives to a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Wednesday, June 22, 2022.Ting Shen | Bloomberg | Getty ImagesFederal Reserve Chairman Jerome Powell told congressional lawmakers Wednesday that the central bank is determined to

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Here are the three things the Fed has done wrong, and what it still isn’t getting right

The exterior of the Marriner S. Eccles Federal Reserve Board Building is seen in Washington, D.C., June 14, 2022.Sarah Silbiger | ReutersAfter years of being a beacon for financial markets, the Federal Reserve suddenly finds itself second-guessed as it tries to navigate the economy through a wicked bout of

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Fed promises ‘unconditional’ approach to taking down inflation in report to Congress

U.S. Federal Reserve Board Chairman Jerome Powell takes questions after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, June

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Powell vows that the Fed is ‘acutely focused’ on bringing down inflation

Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S.,

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A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’

Federal Reserve Chairman Jerome Powell's insistence that the central bank is not deliberately trying to cause a recession and that the economy is on solid footing is exactly what someone in his position would be expected to say.The trouble is, the Fed's likely to get a recession anyway as

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Amid record inflation, 36% of employees earning $100,000 or more say they are living paycheck to paycheck

South_agency | E+ | Getty ImagesMore than a third of high-earning American workers feel strapped for cash — a share that has risen dramatically in recent years.Thirty-six percent of U.S. employees with salaries of $100,000 or more are living paycheck to paycheck — twice as many who said they

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