One of the chief recession indicators plummeted to triple-digit negative territory in the middle of the trading week. The popular spread between the two- and ten-year Treasury yields declined to -108 basis points on Wednesday, the lowest level since September 1981. The two-year yield climbed above five percent, while the ten-year yield was below 3.97 […]
Watch Now: Fed Chair Jerome Powell testifies at House Financial Services Committee hearing
Federal Reserve Chair Jerome Powell delivered his semi-annual Monetary Policy Report in front of the House Financial Services Committee hearing. It will be the same thing as the Tuesday Senate Banking Committee hearing: restoring price stability and achieving maximum employment. Anyway, here is the hearing:
Jerome Powell nukes markets after promising Fed will keep raising interest rates
So, a couple of hours have passed since Federal Reserve Chair Jerome Powell completed his testimony to the Senate Banking Committee. How was it? Perhaps this is the best description: Uncle Jerome Powell just nuked the market 🔥 🔊…🤨 pic.twitter.com/XNmqlyOte3 — Wall Street Silver (@WallStreetSilv) March 7, 2023 Meanwhile, here is Powell’s entire prepared remarks […]
Atlanta Fed Bank GDPNow estimate revised lower to 2% in first quarter
The Federal Reserve Bank of Atlanta’s GDPNow model estimate continues to be lowered. The regional central bank updated the real GDP growth rate to two percent, down from 2.3 percent in the previous projections. Here is what the Atlanta Fed Bank wrote: “The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in […]
Mark it on your calendar! Fed Chair Jerome Powell to appear before Congress this week
If you have time, be sure to mark this on your schedule: Federal Reserve Chair Jerome Powell will be appearing before the Senate Banking Committee on Tuesday at 10 a.m. He will also be making an appearance before the House Financial Services Committee on Wednesday at 10 a.m. Grab the popcorn! It will be fun.