Mindblown: a blog about philosophy.
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Fed’s Logan (voter) says inflation has been much too high and to assess if we have made enough progress, watching for further, sustained improvement in inflation
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End of day Equity, ETF and Futures report April 20th
Tesla is having a bit of a torrid time as it drop 10.2%!!!!!(at time of writing) after disappointing results yesterday along with unconvincing rhetoric from Elon Musk.
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Fed’s Waller (voter, hawk) says with SVB there was no way to process collateral for Discount Window lending fast enough; need to think about how to assess and process collateral faster
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White House says House Speaker McCarthy’s debt plan would hurt manufacturing jobs
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Russian Foreign Minister Lavrov, when asked about the future of the Black Sea grain deal, says almost nothing has been done to address Moscow’s concerns
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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.
Got any book recommendations?