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There's a good chance Jerome Powell will lose his job as Fed chair due to left-wing pressure, JPMorgan says

Fed chair Jerome Powell is due to speak on Thursday Pool/Getty Images There's a good chance Jerome Powell will not be renominated as Fed chair, JPMorgan said. The bank's chief economist said left-wing Democrats may not want the Republican Powell to stay. He also said that Fed Vice Chair Richard Clarida may not be nominated again for the same reasons. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. There's a significant chance that Jerome Powell will no...
Tags: US, Trends, Joe Biden, Democrats, Ubs, Federal Reserve, Donald Trump, Fed, Jpmorgan, Powell, George H W Bush, Jerome Powell, Lael Brainard, Harry Robertson, Michael Feroli, Richard Clarida


US stocks edge higher on blockbuster tech earnings, while Asian equities dip on concerns of tighter market regulation

TIMOTHY A. CLARY/AFP via Getty Images US stock futures rose as investors focused on strong earnings instead of jobless claims. Strong results from Snap and Twitter appeared to offset fears of stricter tech regulation in China. Asian equities were hurt by Chinese regulators considering heavy penalties on Didi Global. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stock futures rose on Friday as investors focused on strong tech earnings, and shrugged off underw...
Tags: Facebook, Asia, Hong Kong, Japan, London, China, US, Trends, European Central Bank, Frankfurt, Atlantic, Federal Reserve, Nasdaq, Shanghai Composite, France Germany, Timothy A Clary


SEC Chairman signals stablecoins and other tokens could fall under its rules on security-based swaps and says more regulation is coming

Gary Gensler Scott Olson/ Getty Images SEC Chair Gary Gensler spoke at the American Bar Association Derivatives and Futures Law Committee Virtual Mid-Year Program. The SEC said stablecoin issuers will have to register and existing transparency requirements will apply to tokens like stablecoins. Researchers at the Federal Reserve and Yale recently urged regulators in a report to tame "wildcat" stablecoins. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The US Sec...
Tags: US, Trends, Yale, SEC, Federal Reserve, Gensler, Gary Gensler, US Securities and Exchange Commission, Camomile Shumba, Gary Gensler Scott Olson Getty, Genlser


US stocks could tumble 15% in a rough fall - and the bitcoin bubble could deflate further this year, Guggenheim's Scott Minerd says

Guggenheim Investments Global Chief Investment Officer Scott Minerd. Milken Institute US stock prices and bond yields could decline further this fall, Scott Minerd told Bloomberg. Fears that the delta variant will cause the economy to weaken could see US stocks fall 15%, he said. Minerd said "there's still more air to come out" of the bitcoin bubble. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US equities could drop 15% by the end of October, driven lower ...
Tags: US, Trends, Bloomberg, Treasury, Federal Reserve, Dow Jones, Guggenheim, SPAC, Scott Minerd, COVID, Minerd, Shalini Nagarajan, Guggenheim Investments Global, Milken Institute US, Bloomberg Fears, Minerd He


Stock market bubbles: Our evolutionary roots explain why investors follow the herd

Stock market bubbles, or asset bubbles, refer to a situation where stocks are valued far above what they're fundamentally worth.Unique factors contribute to each stock market bubble, but all play out in a generally similar series of stages.Research on the human social brain network offers insight into why investors participate in asset bubbles.In retrospect, there were clear signs that the stock market bubble was about to burst in 2000.The mid 1990s was a time of rapid technological growth and,...
Tags: Psychology, Europe, Japan, Money, Innovation, Reddit, Behavioral Economics, Federal Reserve, Priceline, Platt, Fred, Wharton School of the University of Pennsylvania, Michael Platt, Asch, Hyman Minsky, Solomon Asch


Global shares stabilize after the Dow's worst day of 2021, while cryptocurrencies tumble as risk aversion remains high

Johannes Eisele/AFP via Getty Images US futures rose and global shares stabilized on Tuesday after the biggest daily drop in the Dow in 2021. Rising COVID-19 cases and concerns about delayed economic recovery triggered a global equities sell-off. Cryptocurrencies tumbled off the back of weaker financial markets as investors remained risk averse. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US futures rose and global shares stabilized on Tuesday after a widesp...
Tags: Hong Kong, US, Trends, Opec, Frankfurt, Shanghai, Treasury, Tokyo, Federal Reserve, Nasdaq, Cmc Markets, Michael Hewson, OANDA, Johannes Eisele, Getty Images Us, Edward Moya


Stock Market Plummets Amidst Growing Fears Of COVID’s Delta Variant

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Tags: Business, Japan, News, Southeast Asia, Alabama, Delta, Federal Reserve, Stock Market, Nasdaq, Vermont, Dow Jones, United Airlines, Carnival Cruise Line, Commerce Department, CBS New York, Norm Elrod


Markets plunge as investors dump stocks, buy bonds as virus fears flare again

By Stan Choe, Alex Veiga, Damian J. Troise | The Associated Press Resurgent pandemic worries are knocking stocks lower from Wall Street to Sydney on Monday, fueled by fears that faster-spreading variants of the virus may upend the economy’s strong recovery. The S&P 500 was 2% lower in afternoon trading, after setting a record just a week earlier. In another sign of worry, the yield on the 10-year Treasury touched its lowest level in five months as investors scrambled for safer places to put thei...
Tags: Apple, Business, Indonesia, Wall Street, Southeast Asia, Uncategorized, Opec, Sport, Soccer, United States, Missouri, Arkansas, Sydney, Treasury, World Health Organization, Tokyo


Cryptocurrencies, stablecoins and central-bank digital currencies are all the rage. We break down what they are and what you need to know about them

A bitcoin artwork by Stacey Coon, Anastasia Sultzer, and Nanu Berk at the Bitcoin 2021 convention. Marco Bello/Getty Images Cryptocurrencies and stablecoins have boomed in 2021, sucking in investors. The world's central banks are increasingly looking to create their own digital currencies. Insider cuts out the jargon and explains the key differences and what they're used for. See more stories on Insider's business page. Cryptocurrencies and stablecoins have boomed in 2021. An...
Tags: Japan, New York, China, US, Trends, Markets, Bank Of England, European Central Bank, Paypal, Bitcoin, Mining, Treasury, Federal Reserve, Ethereum, Cryptocurrency, Blockchain


Stablecoins should be regulated like banks and central bank digital currencies could tame these 'wildcat' crypto tokens, according to research from the Fed and Yale

US dollar Sopa images/ Getty images Researchers at the Federal Reserve and Yale University have released a report titled 'Taming the Wildcat Stablecoins.' The report suggested stablecoins should be regulated like banks, and promoted CBDCs. The report preceded the Treasury's working group meeting Monday on stablecoins. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrencies that are pegged to a stable asset - known as "stablecoins" - should be ...
Tags: New York, US, Trends, Yale, Treasury, Janet Yellen, Getty, Federal Reserve, Cnbc, Fed, Yale University, People s Bank of China, Treasury Department, Lael Brainard, Yifei, Camomile Shumba


More than half of experts in a recent crypto survey said bitcoin will replace fiat currency by 2050

A local business in El Salvador that accepts bitcoin payments. Alex Pena/Anadolu Agency via Getty Images 54% of fintech experts surveyed expect bitcoin to overtake currencies issued by central banks in global finance by 2050. The move could also take place by 2035, according to 29% of respondents. The majority of the panel see bitcoin as currently undervalued, and the price rising this year to $66,284. See more stories on Insider's business page. Bitcoin, the world's most traded...
Tags: US, Trends, Markets, Getty Images, Bitcoin, Bank, El Salvador, Federal Reserve, Bank Of International Settlements, Fintech, Btc, Thomson Reuters, Cryptocurrency, Fed, Central Banks, Powell


Lumber prices will fall back to pre-pandemic levels within a year amid considerable volatility, investment chief says

Josef Mohyla/Getty Images The price of lumber futures has fallen to its lowest level since November 2020, erasing this year's dizzying gains. An investment chief says the price of the commodity could reach its pre-pandemic level in the next 12 months. He added, however, that the price trends will vary by geography. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Prices for lumber futures have descended to levels not seen since November 2020, erasing this ye...
Tags: US, Trends, Markets, Federal Reserve, Katz, Lumber, Sunbelt, Lumber Price, Isabelle Lee, MI Exclusive, Lumber futures, Lumber Outlook, Lumber Crisis, Josef Mohyla Getty, Lumber Market, Wood Industry


Some restaurants are temporarily closing because they can't find enough workers. One said diners have gotten ruder amid the labor shortage and even made staff cry.

Some restaurants say the worker shortage is making it harder for them to pay rent. Watchara Phomicinda/MediaNews Group/The Press-Enterprise/Getty Images Some restaurants are temporarily closing or cutting their hours because of the labor shortage. One opened for an hour less each day after staffing fell by nearly 50% compared with normal years. A third of former hospitality workers said in a Joblist poll that they won't return to the industry. See more stories on Insider's business...
Tags: Facebook, US, Trends, Bank Of America, Fox, The Times, The New York Times, Federal Reserve, Harrington, KALAMAZOO MICHIGAN, US Chamber of Commerce, Brewster Massachusetts, Astoria Oregon, Kevin Harrington, Grace Dean, Central City Tap House


US futures rise as investors await earnings and Jerome Powell says the Fed will keep up support

Second-quarter earnings season is in full flow. Ramin Talaie/Corbis via Getty Images US futures climbed on Friday as earnings season rolled on, with European stocks also rising. Investors digested comments from Jerome Powell, who said the Fed was keeping a close eye on inflation. Bond yields rose after slipping on Thursday, while bitcoin continued to slide. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stock futures rose on Friday as investors awaited more e...
Tags: Asia, Hong Kong, Europe, London, Congress, China, US, Trends, Burberry, US Treasury, Federal Reserve, Dow Jones, Fed, Powell, Charles Schwab, Jerome Powell


US stocks end mixed as Fed Chair Powell's continued backing of stimulus raises economic questions

Worried trader Richard Drew/Associated Press US stocks ended mixed on Thursday, pulling back further from record highs notched earlier in the week. Fed chair Jerome Powell acknowledged hot inflation and said the central bank will continue to support the economy's recovery. Weekly jobless claims fell to a pandemic-era low of 360,000. See more stories on Insider's business page. US stocks fell Thursday with investors appearing concerned about Federal Reserve Chairman Jerome Powel...
Tags: New York, Saudi Arabia, US, Trends, Markets, Bloomberg, Economy, Netflix, United Arab Emirates, Inflation, Stocks, US Treasury, Federal Reserve, S&P 500, Dow Jones Industrial Average, Gamestop


Fed Chair Jerome Powell says cryptocurrencies are a 'failed' payment mechanism and stablecoins need to be regulated

Fed chair Jerome Powell is due to speak on Thursday Pool/Getty Images Cryptocurrencies have failed to become a viable payment method Fed chair Jerome Powell told a said Thursday. Powell reiterated that stablecoins - and their lack of regulation - are a key concern for the Fed. Worries about stablecoins abound, including that they could be used to manipulate markets and have dubious pegs to the dollar. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Cryptocurrencie...
Tags: Senate, US, Trends, Markets, Banking, Wyoming, House, Crypto, Federal Reserve, Fed, Powell, House Financial Services Committee, Jerome Powell, Senate Banking Committee, Stablecoins, Sen Cynthia Lummis


US stocks slip as investors weigh jobless claims with Fed chief's messaging on inflation

Xinhua/Wang Ying/Getty Images Stocks fell Thursday before a second day of congressional testimony by Fed Chairman Jerome Powell. Jobless claims declined to a new pandemic-era low. Oil prices and bitcoin were in the red. See more stories on Insider's business page. US stocks fell Thursday as investors considered a batch of mixed economic data ahead of a second day of congressional testimony by Federal Reserve Chairman Jerome Powell who reiterated his message of continued monetary sup...
Tags: New York, Saudi Arabia, US, Trends, Markets, Bloomberg, Economy, Bitcoin, United Arab Emirates, Inflation, Stocks, US Treasury, Federal Reserve, S&P 500, Dow Jones Industrial Average, Fed


The major factor causing inflation to stifle US economy

The Federal Reserve's latest nationwide business survey found that the economy strengthened further in late May and early June, despite supply-chain bottlenecks that led to price hikes.The Fed said Wednesday that seven of its 12... [Author: [email protected]]
Tags: Business, US, Federal Reserve, The Fed


Stocks finish mixed as Fed's Powell says rates will remain low

U.S. equity markets ended mixed after Federal Reserve Chairman Jerome Powell said the central bank expects to keep rates low for the foreseeable future.
Tags: Finance, Article, Federal Reserve, Fed, Powell, FBN, Jerome Powell, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/earnings, Fox-business/markets/us-markets, Fox-business/politics, Fox-business/politics/the-fed, Fox-business/markets/bonds, Jonathan Garber


US stocks trade mixed as Powell reiterates in testimony that inflation will pass

A trader blows bubble gum during the opening bell at the New York Stock Exchange (NYSE) on August 1, 2019, in New York City. Johannes Eisele/AFP via Getty Images US stocks ended higher on Wednesday after Fed Jerome Powell reiterated the view that inflation will pass. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin, lumber, and oil slipped, while gold rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US sto...
Tags: Congress, Saudi Arabia, US, Trends, Bank Of America, United Arab Emirates, Citigroup, Treasury, Bank, Federal Reserve, Nasdaq, Fed, Reuters, Afp, Powell, House Financial Services Committee


Inflation is pretty high right now, but it probably won't be a huge problem in the long term

Used cars were responsible for a third of the inflation spike between May and June. Justin Sullivan/Getty Consumer prices rose 0.9% between May and June, a 13-year high. But a large part of the increase came from items affected by the pandemic and reopening. As the economy returns to normal, these prices should stabilize, keeping inflation in check. See more stories on Insider's business page. The much-expected wave of inflation amid an unprecedented post-pandemic economic reopening is...
Tags: Congress, Trends, Markets, Bloomberg, Economy, Bureau of Labor Statistics, Inflation, Federal Reserve, Fed, Powell, Justin Sullivan Getty, BLS, Jerome Powell, Cox Automotive, Inflation Data, Andy Kiersz


Fed Chair Jerome Powell says cryptocurrencies and stablecoins won't be needed once the US has a digital currency

Jerome Powell said the Fed is looking into how a digital dollar would work. Pool/Getty Images Fed Chair Jerome Powell challenged the need for cryptos if and when plans for a US digital currency comes into fruition. "You wouldn't need cryptocurrencies if you had a digital US currency," the Fed chief said. Powell was responding to a question posed by Rep. Stephen Lynch during the House testimony. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Federal Reserve...
Tags: US, Trends, Markets, House, Crypto, Federal Reserve, Cryptocurrencies, Central Bank, Fed, Powell, House Financial Services Committee, Jerome Powell, Stephen Lynch, CBDC, Stablecoin, Stablecoins


Central banks juggle global housing boom

Surging house prices across much of the globe are emerging as a key test for central banks’ ability to rein in their crisis support. Withdrawing stimulus too slowly risks inflating real estate further and worsening financial stability concerns in the longer term. Pulling back too hard means unsettling markets and sending property prices lower, threatening the economic recovery from the Covid-19 pandemic. With memories of the global financial crisis that was triggered by a housing bust still fres...
Tags: Business, Real Estate, News, Sweden, Housing, Sport, Bank Of England, European Central Bank, Canada, Soccer, Asia Pacific, New Zealand, International Monetary Fund, Ecb, Federal Reserve, Seoul


Meet the typical 40-year-old millennial, who has $128,000 in debt, is not nearly as wealthy as their parents were, and is known as 'geriatric'

The oldest millennials turn 40 this year. Gotham/Getty Images The oldest millennials turn 40 this year. They have less wealth, more debt, and about the same earnings as past generations at their age. They straddle the digital worlds of old PCs and today's social media apps. See more stories on Insider's business page. The oldest millennials enter middle age this year. The generation turns ages 25 to 40 in 2021, per the Pew Research Center's definition. Like everyone, millennial...
Tags: Facebook, Trends, Wealth, Debt, Markets, Bloomberg, Economy, Features, Millennials, Mortgage, Federal Reserve, Brookings Institution, Pew Research Center, Generation, Fed, Dhawan


BlackRock's Larry Fink doesn't believe inflation is going to be transitory - and says bitcoin demand from his clients is very low

Larry Fink. Getty BlackRock's Larry Fink is not on the side of the "inflation is transitory" debate. "I do not believe inflation is going to be transitory," he said, after consumer prices rose at their fastest since 2008. BlackRock clients aren't interested in bitcoin and are more driven by long-term returns, he said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. BlackRock CEO Larry Fink told CNBC on Wednesday he doesn't believe the surge in inflati...
Tags: Asia, Trends, Bloomberg, Federal Reserve, Cnbc, Blackrock, Fed, Squawk Box, Larry Fink, Fink, Shalini Nagarajan, Opening Bell BlackRock, Larry Fink Getty BlackRock


Bitcoin, ether and dogecoin briefly slide to lowest in 3 weeks after inflation data sparks fears of faster Fed tightening

STR/NurPhoto via Getty Images Bitcoin, ether and dogecoin tumbled to their lowest in weeks after US inflation data. Rising inflation has prompted investors to reassess how quickly the Federal Reserve might raise rates. Cryptocurrencies have struggled recently as regulatory scrutiny picked up around the world. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin dogecoin and cardano's ada token hit their lowest in three weeks at one point on Wednesday befo...
Tags: China, US, Trends, Bloomberg, United Kingdom, Federal Reserve, Saxo Bank, Fed, Reuters, Steen Jakobsen, Getty Images Bitcoin, Camomile Shumba


Bubble watch: Can Fed ignore inflation at 13-year high?

“Bubble Watch” digs into trends that may indicate economic and/or housing market troubles ahead. Buzz: Inflation hits a 13-year high nationally and locally — minus two months in 2018 — while mortgage rates remain near record lows. Source: The Consumer Price Index for June. The trend The report reaffirmed what just about everybody (minus the Federal Reserve) knows — the cost-of-living is surging higher. Nationally, inflation rose at a 5.4% annual pace; in Los Angeles and Orange counties, it w...
Tags: Business, Real Estate, News, California, Housing, Los Angeles, Sport, Economy, Soccer, Federal Reserve, Gas Prices, Fed, Southern California News Group, Top Stories LADN, Top Stories OCR, Top Stories PE


US stocks rise as Fed Chair Powell says the US economic recovery still has further to run before tapering

Deutsche Bank said retail investors have been key players in the stock market rally Johannes Eisele/Getty Images US stocks rose Wednesday on comments from Fed chief Jerome Powell that the US recovery still has further to go before the central bank changes course. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin and oil slipped, while gold prices rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks m...
Tags: Saudi Arabia, US, Trends, Bank Of America, United Arab Emirates, Citigroup, Treasury, Deutsche Bank, Bank, Federal Reserve, Nasdaq, Dow Jones, Fed, Reuters, Powell, Jerome Powell


Global stocks fall after US consumer prices post their fastest gain in 13 years, while bitcoin drops to $31,900

Spencer Platt/Getty Images A surprise US inflation jump sent global stocks trading lower on Wednesday. The S&P 500 dipped for the first time in three days as investors weighed up the impact of rising prices. Bitcoin fell 4% to around $31,945, and has fallen 35% in the past three months. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Global stocks edged lower on Wednesday after US consumer prices rose at their fastest monthly rate since 2008, raising fears the Fe...
Tags: Hong Kong, Europe, UK, London, Congress, Amc, US, Trends, Bloomberg, Frankfurt, Bitcoin, Deutsche Bank, Tokyo, Federal Reserve, Nasdaq, Gamestop


Joe Manchin doubles down on refusing to add to the deficit to fund a Democrat-only infrastructure plan

WASHINGTON, DC - JUNE 09: Senator Joe Manchin (D-WV) speaks with Xavier Becerra, Secretary of Health and Human Services (HHS) (L), before a Senate Appropriations Subcommittee hearing on June 9, 2021 at the U.S. Capitol in Washington, D.C. The committee is hearing testimony about the Fiscal Year 2022 budget request for the Department of Health and Human Services. Photo by Al Drago-Pool/Getty Images Manchin doubled down on his insistence to fully finance a Democrat-only infrastructure packag...
Tags: Politics, Republicans, Congress, Washington, Senate, White House, Massachusetts, US, Trends, Joe Biden, Economy, Infrastructure, Democrats, Federal Reserve, Biden, National Debt



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