The Federal Reserve cut interest rates on Tuesday in response to the spreading coronavirus, and that could bring benefits to one sector of the U.S. economy just in time for spring: real estate. Mortgage rates were already low – and the addition of a rate cut could provide an even more attractive opportunity for prospective […]
Federal Reserve Chair Jerome Powell Statement and Press Conference Following 50 Point Fed Drop…
Earlier this morning the Federal Reserve (Fed) announced a .50 drop in their lending rate in response to the potential for economic impacts from the coronavirus. Following the rate cut Federal Reserve Chair Jerome Powell delivered a statement and held a press conference…
Dow, S&P and Nasdaq Score Biggest Gains Ever as Stocks Make Comeback…
U.S. equity markets surged Monday as Wall Street rebounded from its worst week since the financial crisis and has President Trump and U.S. health officials made more progress in developing a plan to combat the coronavirus. The Dow Jones Industrial Average rose over 1,294 points or 5 percent in what is the biggest point gain […]
Dow Jones Fell More Than 3,500 Points in Its Worst Week Since 2008…Fed Under Pressure to Cut Rates Immediately…
Increasing fears over the spreading coronavirus have investors on edge, and while the White House maintains that the United States is prepared to handle an outbreak, the Federal Reserve has come under scrutiny as the market rapidly loses liquidity. The Dow Jones Industrial Average fell more than 3,500 points in its worst week since the […]
Jobless Claims Hold Largely Steady, Bolstering Fed’s View of Continued Labor Market Strength…
The number of Americans filing for unemployment benefits saw a slight uptick last week and the four-week moving average of the initial jobless claims figure dropped, bolstering the Federal Reserve’s claim that the U.S. labor market “remains strong.” In the official record of the latest meeting of the Federal Open Market Committee (FOMC), the central […]
Fed Slashes 14-Day Repo Loans to $25 Billion; Will Cut Further in March…
Federal Reserve Chairman Jerome Powell sat through two days of grueling hearings before the House Financial Services Committee and Senate Banking Committee last week. At numerous times, the Fed and Powell were portrayed by Congressional members as sugar daddies for Wall Street while aloof to the financial suffering of the average American. (See Fed Chair […]
Another Massively Oversubscribed Term Repo Confirms Persisting Liquidity Woes…
Two days after dealers unexpectedly flooded the first reduced term-repo (from $35BN previously to $30BN) offered by the Fed, the liquidity shortage in the repo market – which was supposed to be temporary and few if any strategists said would continue beyond year-end – persists, and today the Fed announced that in its latest 2-week […]
Fed Repos Have Plowed $6.6 Trillion to Wall Street in Four Months; That’s 34% of Its Feeding Tube During Epic Financial Crash…
According to the data made available on the public website of the New York Fed, since September 17, 2019 it has funneled a cumulative total of $6.6 trillion to some of the 24 trading houses on Wall Street that are known as its “primary dealers.” The giant sum has been sluiced to Wall Street in […]
944 Trillion Reasons Why the Fed Is Quietly Bailing Out Hedge Funds…
On Friday, Minneapolis Fed president Neel Kashkari, who just two months earlier made a stunning proposal when he said that it was time for the Fed to pick up where the USSR left off and start redistributing wealth (at least Kashkari chose the proper entity: since the Fed has launched central planning across US capital […]
Kudlow: Fed’s T-Bill Purchases Are “Basically” QE…
Back in October, when the Fed restarted permanent open market operations in the form of $60BN in T-Bills purchases each month, Powell scrambled to convince the market that his panicked effort to inject reserves into banks (such as JPMorgan which single-handedly triggered the repo crisis) so that trillions in levered hedge fund pair trades did […]
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