Gold’s price rose another 1.61 percent on 5 April to trade at $2,325.70, giving a 12.77-percent gain so far this year.
Tag: U.S. Federal Reserve
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SWIFT WILL LAUNCH CENTRAL BANK DIGITAL CURRENCY PLATFORM
SWIFT, the messaging network that connects banks worldwide, is developing a system to connect the international financial system to the array of central banks’ digital currencies (CBDCs) expected to come into use over the next few years.
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U.S. CONSUMERS CONTINUE TO SLOW THEIR SPENDING
Inflated prices, emptied savings accounts, and high credit card debt seem to be continuing to persuade U.S. shoppers to curb their free-spending ways.
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CORPORATE DEFAULTS AT HIGHEST SINCE GREAT RECESSION, S&P SAYS
So far this year, 29 corporations have defaulted on their debts, more than in any similar period since 2009 during the Great Recession when 36 corporations failed to pay. Inflation, high interest rates, rising wages, and sluggish consumer demand are to blame, according to S&P.
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JPMORGAN FINED ALMOST $350 MILLION FOR COMPLIANCE FAILURE
Yet again, JPMorgan Chase, America’s biggest bank by assets, has been charged by federal regulators with failing to abide by rules governing oversight of billions of dollars’ worth of trades the bank and its clients have made.
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U.S. INFLATION RAN AT 3.2 PERCENT IN FEBRUARY
In February, consumers paid 3.2 percent more for goods and services than they did a year earlier and 0.4 percent more than in December, the U.S. Bureau of Labor Statistics (BLS) reported last week.
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FED’S FAVORITE INFLATION MEASURE FALLS: WILL INTEREST RATES FALL?
The Personal Consumption Expenditures Index (PCE), the U.S. Federal Reserve’s most closely watched inflation indicator, slowed to an annual rate of 2.4 percent in January, matching analysts’ expectations and within a short reach of the central bank’s 2-percent overall inflation target.
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TOP TREND 2024: BANKS GO BUST
In 2023, $541 billion in loans against commercial real estate came due, data service Trepp reported, the highest amount ever for a single year.
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FED’S INSPECTOR GENERAL SAYS KAPLAN, ROSENGREN DID NOTHING ILLEGAL
The U.S. Federal Reserve’s inspector general (IG) has cleared two former Fed bank presidents of any illegal activities in questionable trades they made in 2020. However, the watchdog office scolded them for tarnishing public confidence in the central bank.
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INFLATION KEEPS RISING
U.S. consumer prices grew by 3.4 percent in December, the Labor Department reported, surpassing November’s 3.1 percent and beating economists’ forecasts of 3.2 percent.
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