A top Federal Reserve official signaled Wednesday he was ready to open talks on when to begin reducing some of the central bank's emergency support for the economy, even if only to clarify the Fed's plans for doing so as the economy roars ahead and prices rise.
Federal Reserve Bank of Richmond President Thomas Barkin on Tuesday said surging home prices are being driven by a jump in demand and constrained supply but not by excess leverage, reducing the potential risk to the broad financial system should prices fall.
Stock market watch: What to expect from the week ending May 28, 2021
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Last Updated: May 24, 2021, 06:30 AM IST
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After months of rally, metal stocks took a beating in the past week and the trigger was the comment from China that it will strengthen its management of commodity supply and demand to curb any ‘unreasonable increase in prices’.
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The jump in global commodity prices have started reflecting in domestic inflation.
More intra-day volatility likely this week: With new daily cases going below the 3 lakh mark, the stock market got a breather on the covid front. The government’s plans to augment vaccine production and complete 95 crore vaccinations by the end of 2021 also improved market sentiments. Now the speculation is when the second wave-induced restrictions will be lifted. Once that happens, auto and consumer discretionary companies will be the main beneficiaries.
SHANGHAI: Cryptocurrency miners, including HashCow and BTC.TOP, have halted their China operations after Beijing intensified a crackdown on bitcoin mining and trading, hammering digital currencies amid heightened global regulatory scrutiny of them. A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday as part of efforts to fend off financial risks. It was the first time the council has targeted virtual currency mining, a big business in China that accounts for as much as 70 per cent of the world s crypto supply. Cryptocurrency exchange Huobi on Monday suspended both crypto-mining and trading services to mainland Chinese clients, adding it will instead focus on overseas businesses.