Fed's Goolsbee Says Central Bank Will 'Fix' the Economy
Chicago Federal Reserve President Austan Goolsbee stated that the central bank is prepared to address any signs of economic weakness, emphasizing the Fed’s commitment to maximizing employment, stabilizing prices, and maintaining financial stability. He noted that interest rates might currently be too restrictive but did not commit to an emergency rate cut. Goolsbee’s comments came […]
Yen's Volatility Complicates BOJ's Rate Hike Plans, Minutes Show
The Bank of Japan’s June policy meeting minutes reveal a growing hawkish sentiment among board members, with at least two calling for an early interest rate increase. Discussions focused on the yen’s weakness pushing up inflation and the need for close attention to currency movements in monetary policy decisions. These concerns led to the BOJ’s […]
Interviewer Laughs At Pelosi For Saying Biden Should Be On Mount Rushmore
Interviewer Laughs At Pelosi For Saying Biden Should Be On Mount Rushmore Authored by Steve Watson via Modernity.news, Nancy Pelosi has suggested that Joe Biden should be added to Mount Rushmore, despite the fact that she was reportedly the ringleader in a Democratic Party effort to throw him under the bus. Pelosi made the comments […]
Fear Index' Doubles Amid Worldwide Stock Market Rout
The CBOE Volatility Index (VIX), often called the “fear index,” surged to its highest level since March 2020, reflecting intensifying anxieties in global markets. This spike was triggered by a weaker-than-expected U.S. jobs report, which raised concerns about a slowing economy. The VIX climbed 142% to $56.55, nearly doubling its previous 52-week high. This volatility […]
Wharton's Siegel Urges Fed to Slash Rates by 150 Basis Points
Jeremy Siegel, a professor at the Wharton School, is advocating for aggressive interest rate cuts by the Federal Reserve. He suggests an immediate 75 basis point emergency cut, followed by another 75 basis point reduction at the September meeting. Siegel argues that the target federal funds rate should be between 3.5% and 4%, significantly lower […]
Global Equity Slump Forces Gold Selloff, Prices Drop Below $2,425
Gold prices fell by as much as 1.2% in early Asian trading on Monday, driven down by a global stock market selloff that overshadowed concerns about rising tensions in the Middle East. Spot gold dropped towards $2,425 an ounce as Asian shares tumbled, reflecting fears of a deepening U.S. economic slowdown and potential delays in […]
Tech Stocks Lead $1 Trillion Wipeout Amid Global Market Meltdown
Global stock markets experienced a significant sell-off, triggered by concerns about a potential slowdown in the U.S. economy and uncertain global monetary policy. The Nasdaq, S&P 500, and Dow Jones Industrial Average all saw substantial declines, with tech stocks particularly hard hit. This market turmoil followed disappointing U.S. jobs data and an unexpected interest rate […]
Silver Tumbles Over 5% as Investors Flee to Cover Stock Losses
Silver prices plunged more than 5% on Monday, falling below $28.00 per ounce, due to fears of a global economic slowdown. Weaker-than-expected US employment and manufacturing data have heightened concerns about a recession, prompting investors to liquidate silver positions to cover stock market losses. Despite expectations of Federal Reserve rate cuts, which usually support precious […]
Gold Tumbles Amid Global Stock Market Turmoil, but Outlook Remains Positive
Gold prices experienced a significant drop on Monday, falling as much as 3.2%, in response to a major global stock market selloff. The decline is attributed to traders liquidating gold positions to cover margin calls on stock losses. Despite this setback, gold remains up about 15% for the year, supported by factors such as central […]
ISM Services Survey Surged In July…
ISM Services Survey Surged In July… After the shitshow of Soft Survey data on the Manufacturing sector last week, analysts are hoping for some heroics from the Services sector. Amid the collapse in ‘hard’ data, soft survey data remains the last great hope for saving Bidenomics (with all hopes on a big rebound in ISM […]