U.S. Treasury Secretary Janet Yellen on Wednesday warned about an "explosion of risk" from digital markets, including the misuse of cryptocurrencies, but said new financial technologies could also help fight crime and reduce inequality.
President Joe Biden is considering nominating Michigan State University economist Lisa Cook to an open seat on the U.S. Federal Reserve Board, Axios reported on Wednesday, citing unidentified people familiar with the matter.
The drive would get Americans back to work after the pandemic, particularly minorities and workers ousted from lower-paying jobs.. Read more at straitstimes.com.
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(Reuters) - Geneva-based Pictet Group’s asset management arm expects the S&P 500 to rise 10% from its current levels, with improving economic growth and easy monetary policy helping to extend its rally.
FILE PHOTO: People walk past the New York Stock Exchange (NYSE) amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., February 3, 2021. REUTERS/Carlo Allegri/Files
The S&P 500 has risen around 21% from its October lows, and closed on Wednesday at 3909.88 points.
“There is a risk of a melt up in a way, in the U.S. especially, and you don’t want to stand against it,” Luca Paolini, chief strategist at Pictet Asset Management, told the Reuters Global Markets Forum on Wednesday.
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(Reuters) - A slower-than-expected vaccine rollout and the rise of coronavirus variants may make attaining herd immunity against COVID-19 difficult, but that should not stop the economy from rebounding, according to a U.S. central banker Thursday.
FILE PHOTO: Federal Reserve Bank of Richmond President Thomas Barkin poses during a break at a Dallas Fed conference on technology in Dallas, Texas, U.S., May 23, 2019. REUTERS/Ann Saphir
“I don’t think the economy requires herd immunity,” Richmond Federal Reserve Bank President Thomas Barkin told Reuters Thursday. “Consumers who get vaccines, who have money in their pockets.are going to be free to spend,” he said.