DAILY DOSE: May 12, 2021
Posted on 05/12/2021
1. U.S. GASOLINE OUTAGES, 11 AM EST.
Percent of all stations without gasoline
NC 28.2%
72% of Raleigh/Durham, stations with no gasoline
71% of Charlotte, stations with no gasoline
69% of Greenville/New Bern/Washington, stations with no gasoline
65% of Norfolk/Portsmouth/Newport, stations with no gasoline
2. U.S. Federal Reserve Vice Chairman Richard Clarida, “We were SURPRISED by higher than expected inflation data.” This quote came after the jobs report. New York Federal Reserve report shows total household debt increased by US$ 85 billion to US$ 14.64 trillion in the first quarter of 2021.
3. Block.one is a blockchain software company whose long-time backers include billionaires Peter Thiel, Alan Howard, and Louis Bacon. Block.one is launching a crypto exchange called Bullish. Bullish seeks to merge attributes of traditional bourses with the benefits of decentralized finance (defi). Bullish is being capitalized by Block.on
May 3, 2021 22:11 GMTFXStreet News
New York Federal Reserve Bank President John Williams said on Monday that the Fed has the tools it needs to control short-term interest rates at a time when reserves are abundant and rates are drifting lower, as reported by Reuters.
”The Fed can lift the interest rate it pays on excess reserves, known as IOER, or the rate it pays on reverse repurchase agreements, which give financial firms a place to temporarily park cash, Williams told reporters.
Those adjustments would not be viewed as a change in monetary policy, he said.”
Key notes
New York Federal Reserve Williams says the economy is on a very good trajectory but we still have a long ways to go.