Category: Headlines
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Fed’s Kashkari (voter, hawkish) says we have very high inflation, but it’s not being driven by wages; have to bring down inflation Once Fed gets inflation down, can get back to pre-COVID economy with low inflation, low unemployment, and decent wage growth.
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Fed’s Barkin (non-voter) says deposit flows among US banks are “relatively stable”, and is “encouraged” by evidence of resilience
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Fed’s Collins (non-voter) says likely need to hike rates more with more work needed to be done on inflation; Fed’s SEP of one more hike seems reasonable
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US Jobless claims rise to 3-week high of 198,000
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US Rep. Hern (R) says Fed Chair Powell, in a meeting, indicated one more interest rate hike this year Powell told House GOP that supply chain inflation has been mostly mitigated.
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US Pending Sales Change MM (Feb) 0.8% vs. Exp. -2.3% (Prev. 8.1%)
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French prosecutors raid banks over dividend tax evasion allegations
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FBN’s Gasparino, citing sources, tweets, “Even as shares of FirstRepublic (FRC) rebound mood inside the bank remains grim as the hole in its balance sheet is estimated at as high as USD 12bln”
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US Monthly Home Price Index* (Jan) 393.2 (Prev. 392.1, Rev. 392.4)
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US Wholesale Inventories Adv * (Feb) 0.2% (Prev. -0.4%, Rev. -0.5%)