For banks in 2023, one message is coming through clearly: Scale is good.
Two essential questions are facing the US economy right now: whether the Federal Reserve’s next change in its policy rate will be a cut or an increase, and whether the central bank’s inflation target of 2% needs to change.
Should the US Securities and Exchange Commission approve an exchange-traded fund focused on the spot market for Bitcoin? The question has yet again gained relevance, thanks to the District of Columbia Court of Appeals, which last week reversed the SEC’s decision to reject a Bitcoin ETF proposed by Grayscale Investments.
President Joe Biden and his team insist that “Bidenomics” — a term they’ve embraced — is more than a mere bundle of policy initiatives.
At 1,087 pages, a recent proposal to change capital rules would surely make life more complicated for big US banks. But will it make them safer?
Unpacking the details of last week’s consumer price index report, the news was good: Inflationary pressure continues to slowly subside, while an economic “soft landing” — in which the Federal Reserve is able to stabilize prices without causing a recession — is starting to look more realistic.
The reaction to Fitch Ratings’ recent downgrading of US government debt was more revealing than the announcement itself. Citing concerns about America’s long-term fiscal position and the risk that Washington’s political dysfunction could make matters worse, the company marked US debt down from AAA to AA+.
The Fed needs to resolve this disagreement — by making clear that it’s committed to getting inflation all the way back down to the 2% target.
When New York Governor Kathy Hochul introduced a plan to build 800,000 housing units over the next decade, opponents immediately conjured up worst-case scenarios.
Money is getting faster. Regulators need to adapt.
The ruling is a political defeat for the White House and a disappointment for millions of student-loan borrowers. It has also spared the country from the worst consequences of a misguided policy.
Russian President Vladimir Putin has faced the biggest threat his regime has confronted in more than two decades in power. For now.
The Bank of England surprised financial markets last week by raising its policy rate by half a percentage point instead of the expected quarter. The bigger surprise was that so many investors and analysts were surprised.
Normally, a consensus between Democrats and Republicans in Washington is a heartening sign. Not so when it comes to populist interventions in the banking system.
Politicians of both parties should welcome this trend and build on it — not least, by shifting resources from traditional college pathways and toward work-based alternatives that provide students with real-world skills.
