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[Reuters] What’s next as Japan PM Abe quits, potential successors [Reuters] China’s big banks brace for lagging COVID-19 risks as bad loans rise [AP] India records world’s biggest single-day jump in virus cases [Bloomberg] TikTok Assets Can’t Be Sold Without China’s Approval [WSJ] A Flexible Fed Means Higher Inflation [WSJ] Coronavirus Has Left Banks With […]
[Reuters] White House suggests $1.3 trillion coronavirus aid bill; Pelosi says not enough [Reuters] Turkey to hold military exercise off Cyprus amid Mediterranean tensions [Reuters] Xi says China to step up efforts to fight ‘splittism’ in Tibet [Bloomberg] China’s Missile Volley Sparked by Cold-War-Throwback Spy Plane [WSJ] New Covid-19 Layoffs Make Job Reductions Permanent [FT] […]
The Wall Street Journal referred to a “a milestone” – “a major shift in how [the Fed] sets interest rates by dropping its longstanding practice of preemptively lifting them to head off higher inflation.” The New York Times went with “a major shift in how the central bank guides the economy, signaling it will make […]
Here’s the news of the week – and how we see it here at McAlvany Wealth Management: Will Energy Rise from the Ashes? Amidst the so-called summer market doldrums this week, a quiet but substantial reconstruction of the Dow Jones Industrial Average was announced. The Dow is a price-weighted index of 30 stocks that are […]
[CNBC] Stocks rise to end the week as Dow tries to erase losses for 2020 [Reuters] Yen surges as Japan’s Abe quits, stocks mixed after Fed shift [Yahoo/Bloomberg] Gold Rebounds on Weaker Dollar as Investors Weigh Fed’s Approach [Reuters] Dollar buoyed by yields surge jump after Fed’s inflation shift [Reuters] U.S. consumer spending beats expectations […]
Jerome Powell revealed at the virtual Jackson Hole Symposium the Fed’s new approach to inflation moving forward into 2020. Gold and silver saw short term reactions but are still following their longer term trend. We discuss this week the impacts the US 2020 election could have on the metals markets and more. Thanks for listening, […]
[CNBC] Dow rises by 100 points as Fed announces new inflation approach that could keep rates low [Reuters] Rouble slides again as Putin says Belarus asked for help [CNBC] Powell announces new Fed approach to inflation that could keep rates lower for longer [Reuters] Fed to target 2% average inflation, elevates focus on jobs [CNBC] […]
[Yahoo/Bloomberg] Stocks Fluctuate Near Record Highs; Dollar Gains: Markets Wrap [CNBC] U.S. core capital goods orders slow in July from prior month, while durable goods orders surge 11.2% [Reuters] Framework review complete, Fed’s Powell starts hard sell for higher inflation [Yahoo/Bloomberg] Fed’s Top Inflation Hawk Isn’t Opposed to Overshooting 2% Goal [Yahoo/Bloomberg] Fed Seen Holding […]
