The heads of two regional Federal Reserve banks backed an interest rate increase ahead of the Fed’s March meeting as an strengthening economy added to sentiment to tighten monetary policy. The heads of the Richmond and Kansas City Fed supported a quarter point lift in the main lending rates for banks "in light of continued improvements in labour market conditions and expectations that inflation would rise," according to minutes of the Fed’s March meeting. Recent signs that US inflation is accelerating lay the groundwork for the US central bank to hike interest rates, Richmond Fed President Jeffrey Lacker said. The Fed should proceed with its earlier plan to raise interest rates four times this year.
Well Fargo was one the shareholders of Cubic Energy Inc, which bankruptcy plan took effect on March 1, the Dallas-based oil and gas company wiped out.
The bank had a nearly 10 percent stake in Cubic Energy at the end of 2015, worth more than $25 million at the company’s peak, through a private equity-style unit called Wells Fargo Energy Capital.
Fed policy makers signalled an interest-rate hike in April is unlikely, minutes of the March policy meeting showed, confirming market’s growing anticipation that the US central bank will act cautiously […]
Ongoing accommodation will be needed to run the economy a little hot and push inflation expectations higher. Whether they read footnote eight or not, market participants seem to have heeded the message.
As expected, the Federal Open Market Committee (Fed) kept official rates at their current levels. Despite inflationary pressure building, the Fed lowered its projections for the pace of future rate […]
The concerns dominating investor attention to start the year – especially about monetary policy, China, and global growth more broadly – have not dissipated, but investors seem to be coming to terms with them, and valuations now account for that uncertainty.
Financial markets are currently discounting a 51% probability of a rate hike in June. But what after that? US central bankers look much more cautious than they were at the beginning of the year.
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