United States Federal Reserve Governor Michelle Bowman said on Friday that: she has yet to find “consistent evidence that inflation is on a downward path” in recent consumer price and job reports. Delivering remarks in Frankfurt, Bowman noted that the Fed may have to continue to tighten policy if inflation stays elevated and the jobs …
Continue reading “Fed’s Bowman: No proof of inflation falling”
Deposit outflows after SVB collapse concentrated among ‘super-regionals’ – NY Fed study Shares of regional lender PacWest Bancorp plummeted more than 20% on Thursday after the bank reported its deposits declined 9.5% last week. The lender stated that most of the drop occurred on May 4 and 5 after reports emerged that it was considering …
Continue reading “The Next Dominio…. PacWest plunges 20% after reporting 9.5% deposits drop”
United States Treasury Secretary Janet Yellen stated on Thursday that the default on the debt ceiling will seriously question US national security worldwide. Speaking at the G7 Finance Ministers and Central Bank Governors Meeting, Yellen warned that a potential default threatens the economic recovery and could trigger a global recession. In that regard, “there is …
Continue reading “Yellen: Default to seriously question US national security”
https://youtu.be/vYoukQpNCJI The annual inflation in the United States clocked in at 4.9% in April, edging down slightly from March’s figure of 5%, the Labor Statistics Bureau announced in its report on Wednesday. Month on month, Consumer Price Index (CPI) was up by 0.4%. Shelter prices were the main contributor to the monthly rise. The energy …
Russian President Vladimir Putin stated on Tuesday that today, civilization is yet again “at a turning point.” Delivering remarks at the Victory Day Parade, the head of state underlined that the Western world has been provoking conflicts and destroying “traditional values,” in order to “further dictate its own rules.” He said that Russia wants to …
Freight rates for supertankers have plunged by 75% in a month since several large OPEC+ producers announced a new round of oil production cuts that will lead to lower volumes shipped between May and December this year. Daily rates on the Middle East to China route for the very large crude carriers (VLCC) capable of …
Continue reading “Supertanker Rates Crash 75% After OPEC+ Cuts Oil Supply To Markets”
Riyadh: Saudi oil giant Aramco posted first-quarter net profit of 119.54 billion riyals ($31.88 billion) on Tuesday, a fall of about 19 per cent from the previous year. It said the drop was mainly driven by lower crude prices, although partially offset by lower taxes and zakat and a rise in finance and other income. …
Continue reading “Aramco’s net income slides 19% to $31.9B in Q1”
(Reuters) -Credit conditions for U.S. business and households continued tightening in the first months of the year, according to a Federal Reserve survey of bank loan officers, but the results seemed to mark the accumulating impact of Fed monetary tightening rather than the cliff-like decline in credit some feared after the March collapse of Silicon …
Continue reading “Fed survey sees banks pushing stricter credit terms”
Brent crude oil was up nearly 2% on Monday, largely driven by the easing of economic slowdown fears in the U.S. At 10:39 a.m. EST on Monday, Brent was trading up 1.62% at $76.52, for a $1.22 gain on the day, while West Texas Intermediate (WTI) was trading up 1.95% at $72.73, for a $1.39 …
Continue reading “Oil Gains Nearly 2% After ‘Overblown’ Selloff…… Oil Shortages Coming”
WASHINGTON, May 7 (Reuters) – U.S. Treasury Secretary Janet Yellen on Sunday issued a stark warning that a failure by Congress to act on the debt ceiling could trigger a “constitutional crisis” that also would call into question the federal government’s creditworthiness. Yellen sounded the alarm over possible financial market consequences if the …
Continue reading “Yellen: Not raising debt ceiling may trigger constitutional crisis”