Wednesday afternoon, after the markets had closed, the Federal Reserve released its latest “Stress Test” on the nation’s major banks. The Fed likes to release major reports after trading for the day is complete. That’s because they’re never quite sure how Wall Street will react. Significant reports, like this Bank Stress Test, can send markets into a tail-spin if the news is perceived as bad. But no worries, this week, both the Fed and Wall Street were on the same page, namely that American Banks are doing just fine, thank you. To use the Fed’s own words: “The Federal Reserve…
Author: Admin
His name is Narendra Modi. And as the 14th Prime Minister of India, he may be the most popular world leader today. Last evening, President Biden feted Mr. Modi to a State Diner, as the United States spared no expense in rolling out the Red Carpet. Earlier in the week, Modi was the chief speaker for the Yoga celebration at the United Nations. Last week, he was the Honored Guest and Keynote Speaker at Russia’s St. Petersburg Economic Forum. And, of course, he is esteemed as a primary supplier of refined petroleum products for Western Europe. How he became so…
Each year the US Federal Reserve Board holds an annual conference in Jackson Hole, Wyoming. The Conference’s aim is to bring together participants from the world of finance, economics, and academia to discuss the future course of monetary policy. This weekend the Bank of Japan is holding an equivalent Conference, also to discuss monetary policy. The Conference is jointly sponsored by the Institute for Monetary and Economic Studies (IMES). In his opening remarks, BOJ Chairman Kazuo Ueda signals a major change in BOJ Policy from a policy that was encouraging inflation to one that will now fight inflation. The BOJ…
Portfolio managers breathed a sigh of relief as the Dow Jones Industrial Average and all the major indexes managed to close higher on the last day of Q2. This will help those performance numbers and boost investment management bonuses. The Dow was up 280 points on Friday, finishing fractionally higher for the Quarter https://tradingeconomics.com/united-states/stock-market
The magnificent Ocean Liner was launched nearly 112 years ago, on May 31, 1911. Eleven months later, she lay at the bottom of the North Atlantic. The Titanic had some of the most luxurious accommodations ever seen at sea. The Titanic was constructed with the highest standards of the shipbuilding industry of the day. She had 16 individual water-tight compartments designed to isolate any breach in her hull. Many considered the Titanic to be unsinkable. And yet, in less than a year, Titanic was gone. Although Titanic was designed to withstand a breach of one or two compartments, the North Atlantic Ice…
The clouds of Scandal are beginning to swirl around the Biden White House. For those who keep up with the latest news reports, suspicions are rising that the President and his son may have received illegal payments from countries as diverse as China and Ukraine. https://www.podbean.com/eas/pb-5hw45-1443e50
Energy prices in Germany fell the most in over ten years, helping German consumers and industry. This was a tremendous relief for the German economy, which is experiencing negative growth. And a real surprise to economists. Could it be that the global energy markets are rebounding from all those EU Sanctions? https://www.destatis.de/DE/Presse/Pressemitteilungen/2023/06/PD23_256_614.html