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3.9M views
Trump issues a threat to impose a 25% tariff on all imports from Canada and Mexico on the day he takes office.
2.9M views
NEW:
*Signature Bank has been closed
*All depositors of Silicon Valley Bank and Signature Bank will be fully protected
*Shareholders and certain unsecured debtholders will not be protected
*New Fed 13(3) facility announced with $25 billion from ESF to backstop bank deposits
2.1M views
How should the government treat uninsured depositors after a bank run?
It's a question Jay Powell faced as an assistant Treasury secretary in January 1991, and it's recounted in my book (which is worth reading if you're interested in how Powell operates) https://t.co/zYOlqHwoSK
2.1M views
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Trump issues a threat to impose a 25% tariff on all imports from Canada and Mexico on the day he takes office.
One year ago (almost to the day), Scott Bessent wrote to his investors: “Tariffs are inflationary and would strengthen the dollar—hardly a good starting point for a US industrial renaissance.”
“The tariff gun will always be loaded and on …
The Federal Reserve cut rates by 50 bps.
The median projection has two more 25 bps rate cuts in 2024, for a total of 100 bps this year.
Fed governor Miki Bowman dissented in favor of a smaller 25 bps cut. It's the first dissent by a *gov…
The Powell pivot is complete.
Powell is dovish across the board—from the same stage where he two years ago signaled the Fed would accept a recession as the price of restoring inflation:
“The cooling in labor market conditions is unmistakab…
Photo
NEW:
*Signature Bank has been closed
*All depositors of Silicon Valley Bank and Signature Bank will be fully protected
*Shareholders and certain unsecured debtholders will not be protected
*New Fed 13(3) facility announced with $25 bil…
How should the government treat uninsured depositors after a bank run?
It's a question Jay Powell faced as an assistant Treasury secretary in January 1991, and it's recounted in my book (which is worth reading if you're interested in how …
Sen. Elizabeth Warren (D., Mass.) asks Powell what he would say to 2 million people losing their jobs if he keeps raising rates?
A testy exchange leads to this Powell redirect: "Will working people be better off if we just walk away from …
Fed governor Christopher Waller on the October CPI report:
"The market seemed to get waaaa-aaaay out in front.... I just cannot stress this is one data point."
"We've still got a ways to go."
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