Page 23 - Cornerstone Macro News Today

The US Federal Reserve has banned top officials from buying individual stocks and bonds, as well as limit active trading, after an embarrassing scandal that led two officials to resign and clouded Fed Chairman Jerome Powell’s path to renomination. “These tough new rules raise the bar high in order to assure the public we serve that all of our senior officials maintain a single-minded focus on the public mission of the Federal Reserve,” Powell said in a statement on Thursday. The Fed’s ac...

The Federal Reserve will ban top officials from buying individual stocks and bonds as well as limit active trading after an embarrassing scandal that led two officials to resign and clouded Chair Jerome Powell’s path to renomination.

Gov. Randal Quarles is no longer vice chair for supervision, and the Federal Reserve Board will make bank regulatory policy only when multiple members reach consensus. Observers expect inaction until the Biden administration fills key leadership posts.

US job growth in September was the slowest this year, signalling a tempering of the labour market recovery and complicating a potential decision by the Federal Reserve to begin scaling back monetary support before year-end.

Nonfarm payrolls increased 194,000 last month, a report from the US Department of Labor showed Friday.

The unemployment rate fell to 4.8 per cent, partly reflecting a decline in labour force participation among women.

Despite payroll miss.

Wall Street strategists are preparing for what they believe will be the ultimate passage of the bipartisan infrastructure bill before a $3.5 trillion budget resolution. See: 10 Programs in the...

Push to have Powell reappointed as Fed chair Jerome Powell’s term as chair of the US Federal Reserve could be summed up as follows: Never in economic history has so much been given so fast to so few. The trillions of dollars pumped into the financial system by the Fed since March 2020 have sent the stock market to record highs, boosting the wealth of multi-billionaires such as Elon Musk and Jeff Bezos to stratospheric heights, as well as lifting the wealth of a host of lesser lights. Chairman...

Democrats weigh backing Jay Powell as Fed leadership choice looms James Politi and Colby Smith Jul 18, 2021 – 5.12pm Share Washington | Brad Sherman, a California Democrat in the House of Representatives, was saying what many in his party privately believe when he called for President Joe Biden to reappoint Jay Powell for a second term as chair of the Federal Reserve. “I’ve lived through two economic crises in Congress: 2008 and 2020. And 2020 was handled much better,” said Mr Sherman ....