Category: Headlines
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Fed’s Mester, in Q&A, says Fed has come a long way in tightening policy; rates are the active tool of monetary policy, not the balance sheet Fed is aiming for a soft landing in the economy. Economy is on track for very slow growth, wouldn’t take a big shock to generate a recession
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Fed’s Mester (non-voter) reiterates Fed will need to hike policy rate to over 5% and hold there for a while; inflation still too high, Fed has more work to do; Fed is much closer to the end of the rate-hike journey
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U.S. existing-home prices fall nearly 1% in March, the biggest drop in a decade
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SpaceX Starship rocket blows up minutes after launch
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US Treasury Secretary Yellen says the US-China relationship is clearly at a “tense moment” Earlier, Yellen said the US seeks constructive and fair relationship with China; US will not compromise on national security.
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Tesla in the toilet…shares trading down to $165 pre open
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US Philly Fed Business Indx* (Apr) -31.3 vs. Exp. -19.2 (Prev. -23.2)
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Ukrainian First Deputy PM says Black Sea grain deal under threat of halting
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Fed’s Bostic (non-voter) reiterates that he expects one more rate hike; economy still has lots of momentum and inflation is too high – CNBC interview
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Goldman Sachs raises its ECB terminal rate to 3.75% from 3.5% (which has previously been lowered to 3.5% from 3.75%)