Fed’s fault-finding on bank failures could lead to stronger regulations
New banking regulations proposed by federal watchdogs don’t go far enough in countering potential problems, but could help lower bank fees and calm financial markets and nerves, leading to a more stable financial system, according to some economists. The Federal Reserve, FDIC and Government Accountability Office released reports last week blaming mismanagement of risk, including […]
Silicon Valley Bank’s collapse differs from our last financial crisis
After the largest U.S. bank failure in more than a decade, regional bank stocks plunged on Monday as the federal government — with the 2007-2008 financial crisis still a fresh memory for many — rushed to reassure Americans that the U.S. banking system was stable. President Joe Biden told Americans that the risks taken on […]
Powell signals higher interest rates. Here’s why Friday’s jobs report will affect Fed’s decision.
Federal Reserve Chairman Jerome Powell said this week that interest rate increases could be higher and come faster if Friday’s unemployment data shows the nation’s labor market isn’t cooling off. Stock indexes fell after his comments.
Wall Street vet: Why the U.S. economy could well be headed for the hoped for “soft landing” in 2023
Editor’s note: The following commentary is the latest installment in “The Macro” — an ongoing series of posts on the state of the economy by Mecklenburg County small businessman and former Wall Street bond trader, Greg O’Connor. Spoiler alert right off the bat here: 2023 will not be the historically tumultuous year that 2022 […]
4 takeaways on housing in light of Thursday’s inflation report
Housing costs, including rental prices, are on the path to stabilizing but evidence of this won’t show up in inflation measures anytime soon, economists say. The latest Consumer Price Index numbers, which are used to measure inflation, came out Thursday morning and showed a notable easing. But the survey used to measure shelter, a large […]
The Fed raises interest rates again, signals more coming despite pressure to slow the pace
The Federal Reserve announced on Wednesday that in its continuing efforts to tamp down inflation, it would raise interest rates yet again by another three-quarters of a point to a target range of 3.75 to 4%. Federal Reserve Chair Jerome Powell said during a press conference following the announcement that the “historically fast pace” of […]
Veteran Wall Street trader shares some truths about inflation and the economy
In my 36 years of studying financial markets and the economy, there has never been a time quite as chaotic as this one. When you pile on the noise of our fractured political and media spheres, it can be nearly impossible to find genuine apolitical analysis of the economy. With a new series of columns […]
Why is Thom Tillis blocking a Black North Carolinian from the Federal Reserve’s leadership?
Earlier this past month, Senator Thom Tillis tweeted something that no one could disagree with. “During #BlackHistoryMonth, we recognize the experiences and contributions of Black North Carolinians to our state.” Those are easy words. But, the fact is, Senator Tillis blocked the historic appointment of a Black North Carolinian to the powerful Board of Governors of the Federal Reserve System in the same month.
Dems, allies slam Tillis, Republicans for blocking Biden’s Fed nominees
NC state lawmaker joins national party leader in accusing GOP of undermining the national economic recovery Democrats and their allies went on the attack Wednesday, accusing Republicans of playing games with the nation’s economic recovery after Republican members of a key U.S. Senate committee boycotted a vote on President Joe Biden’s nominees to the Federal […]
Fed takes more aggressive posture on economic recovery
In a mostly positive step towards encouraging the nation’s struggling economic recovery, the U.S. Federal Reserve announced a third round of “quantitative easing,” a policy known as QE3designed to expand the availability of credit for business investment and job creation. Specifically, the Fed announced two key moves geared towards spurring new lending: 1) its intent […]