Premarket stocks: Fed officials crushed investors’ hopes this week

Premarket stocks: Fed officials crushed investors’ hopes this week

New York CNN Business — Investors sleuthing for clues about what the Federal Reserve will decide during its December policy meeting got quite a few this week. But those hints about the future of monetary policy point to an outcome they won’t be very happy about. What’s happening: Federal Reserve officials made a series of … Read more

Unemployment to almost double, recession to end by 2024 – Alfonso Peccatiello

Unemployment to almost double, recession to end by 2024 – Alfonso Peccatiello

The US unemployment rate rose to 3.7 percent in October, and industry data suggests that such job trends will continue, with companies like Twitter, Amazon, and FedEx laying off thousands of workers. This will result in unemployment almost doubling to “six-and-a-half percent,” while the ensuing recession will last until 2024, said Alfonso Peccatiello, Author and … Read more

The Fed committed ‘serious mistake’ and it could push economy into ‘Great Depression’ – Ark’s Cathie Wood

The Fed committed ‘serious mistake’ and it could push economy into ‘Great Depression’ – Ark’s Cathie Wood

(Kitco News) The Federal Reserve is ignoring deflationary signals in the economy. And its heavy-handed rate hikes could be pushing the economy into something similar to the Great Depression, said Ark Invest CEO Cathie Wood. Deflationary signals are already strong, and the setup looks akin to the Roaring Twenties one hundred years ago. “Prior to … Read more

A Little Known But Powerful Recession Indicator Is Flashing Red

A Little Known But Powerful Recession Indicator Is Flashing Red

The latest in a number of recession indicators has just begun flashing red. getty While last week’s consumer inflation (CPI) reading may have cracked open the window for avoiding recession, it might be too little and too late as a little-known but powerful recession indicator began flashing red last week. The 10-year Treasury minus 2-year … Read more

All eyes on the consumer ahead of Black Friday and the holidays

All eyes on the consumer ahead of Black Friday and the holidays

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. New York CNN Business — It has been a tough year for American consumers. Inflation everywhere. Rapidly rising interest rates. A housing market that is starting to cool off. That begs a … Read more

Gold prices have room to run as sentiment turns solidly bullish after best week in two years

Gold prices have room to run as sentiment turns solidly bullish after best week in two years

Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! (Kitco News) -A potential peak in the US dollar because of shifting interest rate expectations is creating broad-based positive sentiment for gold in … Read more

‘Angry’ Powell is on a ‘mission’, but inflation has become ’embedded’ – Jeffrey Tucker

‘Angry’ Powell is on a ‘mission’, but inflation has become ’embedded’ – Jeffrey Tucker

Federal Reserve Chairman Jerome Powell is “angry” about high prices, and is on a “mission” to crush inflation, said Jeffrey Tucker, Founder and President of the Brownstone Institute. “[Powell] believe he’s not going to get inflation under control until he can obtain a positive [real] interest rate… even if that involves bringing about a deep … Read more

Fed will create ‘real pain’ as it ‘breaks’ the economy in 2023 – Lobo Tiggre

Fed will create ‘real pain’ as it ‘breaks’ the economy in 2023 – Lobo Tiggre

The Fed raised its benchmark rate on Wednesday by 75 bps, a move that was accompanied by hawkish rhetoric from Fed Chairman Jerome Powell. As the Fed continues to raise rates and weaken demand, this will “break” markets, said Lobo Tiggre, editor of TheIndependentSpeculator.com. “I’ll be very surprised if we get too far into 2023 … Read more

Powell volatility: Gold price drops as Fed Chair says ‘ultimate level’ of rates will be higher than previously expected

Powell volatility: Gold price drops as Fed Chair says ‘ultimate level’ of rates will be higher than previously expected

(Kitco News) Gold lost all post-Fed statement gains as Chair Jerome Powell signaled that the “ultimate level” of interest rates would likely be higher than previously thought. He also said the window for a soft landing has “narrowed.” The precious metal quickly tumbled during Powell’s press conference, which followed Fed’s decision to raise rates by … Read more