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Mark Wilson/Getty Images President Donald Trump reportedly believed former Federal Reserve chairwoman Janet Yellen was too short to be reappointed to lead the Fed. Trump reportedly asked aides whether they thought Yellen was tall enough, at 5-foot-3 inches, to be reappointed. Based on other reports, Trump has commented on the physical appearance of other senior […]
Drew Angerer/Getty Images; Mark Wilson/Getty Images Former White House strategist Steve Bannon wanted former Fed Chair Janet Yellen to stay on for another term. Bannon, in a new preface for the book “Devil’s Bargain: Steve Bannon, Donald Trump, and the Nationalist Uprising,” called Yellen “my girl.” Former Federal Reserve Chair Janet Yellen evidently has a […]
Susan Walsh/AP The Federal Reserve raised its key interest rate 25 basis points to a range between 1.25% and 1.50% at the conclusion of Wednesday’s meeting. At the accompanying press conference, Fed Chair Janet Yellen was asked about bitcoin. Yellen called the cryptocurrency a “highly speculative asset” and said the Fed is not seriously considering […]
Photo by Ethan Miller/Getty Images Bitcoin came into existence in 2009 in part as a response to fears about financial intermediation and banking following the financial crisis of 2008. Aggressive rate cuts from the Federal Reserve and other central banks sparked fears, which proved unfounded, of high inflation that would sharply devalue major currencies. More […]
Thomson Reuters Fed nominee Jerome Powell appears to favor lighter-touch regulation of the financial sector. This probably endearing him to Donald Trump, who ran for president with chants of repealing the post-crisis Dodd-Frank reforms. Powell’s statement that banks are no longer ‘too big to fail’ contradicts the view of many of his own fellow regulators […]
Thomson Reuters Jerome Powell, the current Fed board governor and former private-equity executive, is US President Donald Trump’s pick to replace Janet Yellen as the central bank’s chair. Powell will face key decisions, including honing consensus around whether to continue raising interest rates in a steady-growth but low-inflation environment. He is seen as the safe […]
Carlos Barria/Reuters; Composite by Bob Bryan/Business Insider President Donald Trump has many good reasons to reappoint Janet Yellen to Federal Reserve chair when her first term expires in February of next year. That doesn’t mean he will make the right choice. For one thing, her policy of raising interest rates only gradually is helping to […]
Brian Kersey/Getty Images Fed Chair Janet Yellen sounded very confident about the job market in her press conference this week, suggesting additional Fed action to rein in the economy. But inflation has remained low despite low unemployment, going against a classic economic theory. Wages have been stagnant and inequality has been rising, and premature monetary tightening […]
AP/Kathy Willens Investors in red-hot tech companies are heavily exposed to political risk, and they may not even realize it. After all, one of the main selling points for tech stocks last year was how disconnected they were from macro drivers. Traders shied away from energy because they were puzzled by oil, and stayed away […]
If the equity market truly believed the Federal Reserve’s assertion that the economy is strong enough to withstand higher interest rates, it would be fleeing from stocks offering high yields. It’s doing the opposite. Companies in sectors that serve as bond proxies — telecom, utility, and real estate — were the only ones to see […]
