Edward. Reporter Federal Reserve has left rates unchanged. This is the sixth pause in a row for this. Now with the first line of the statement has a word thats been added to it. It says the Economic Activity continued to expand at a solid pace. Now the statement says that the fed sees job gains remaining strong. The fed also sees inflation easing over the past year but remaining elevated. The Committee Also changed the statement to say that employment and inflation goals have moved into better balance over the past year. The fed leaves one sentence in. Its a very key sentence, saying it needs to gain greater confidence that inflation will move sustainably to 2 . Again a very key phrase in the statement. One big announcement of the fed statement is going to make, the fed is reducing runoff of the Balance Sheet. Starting in june the fed will go from 60 billion of runoff in treasurys, rolling off 25 billion. Going down to 25 billion in treasurys, rolling off starting in june, amount of mo
Th aussie dollar bond market remain unfazed, as the rba keeps rates unchanged, but warns further tightening may be required. In asia, stocks selling off. Bonds under pressure. Cleveland fed president Loretta Mesters has one more hike maybe in the cards this year. Jamie dimon warning the u. S. 10year could go much higher than expected. Can it go to 7 . The answer is yes. Are there factors that would drive it higher than where it is today, yes. Is supply and demand kaput . Yes. Kriti bank of england takes aim at the central bank forecast, predicting permanently higher Interest Rates in the u. K. Lets get right to the data because you will see action coming across futures. The theme of the day around the world seems to be a more hawkish tone for Central Banks. Do the markets believe it is the major question. Take a look at this a lot already underway in the futures market. A lot of this will be impacted by sentiment in asia. Euro stoxx 50 futures down 0. 8 , ftse 100 futures outperforming
With more on this, im joined by nitesh shah. He joined by nitesh shah. Is head of notties. Thank yo being he is head of notties. Thank you for being with us, so, we are flirting with this 95 barrel level, production has been cut. That is why prices are going up. It is fair to say this is opec plus, russia and saudi arabias plans bearing fruit . Yes, so, To Peck Group and in particular russia and saudi arabia have been angling for tightening up the market to push prices to these levels, they have extended recently extended their supply cuts against market expectations, that is what drove it above 90 but we are close to 95 now, that a recent leg in movement in oil prices has been driven by the tight innocence the market n the us Storage Levels are going to record lows and in past months what we are finding, despite to peck saudi arabia, russia particular driving down production, us was making up for that, us production was rising, now that seems to have come to an end, us production is c
Will be talking about oil prices today. They have reached their highest level in almost a year, approaching 95 a barrel for the First Time Since august 2022. Production cuts by russia and saudi arabia are partly to blame. And reserves at an important Storage Facility in the us hit their lowest levels in july last year. Facility in the us hit their lowest levels injuly last year. The price of oil is a factor in the rise in inflation which has been a driving of the cost of living crisis Around The World and the price could go above 100 a barrel again soon. I asked and above 100 a barrel again soon. I asked an ,. Above 100 a barrel again soon. I asked an ~. ,. , above 100 a barrel again soon. I asked an. . ,. Above 100 a barrel again soon. I asked an . ,. Asked and saudi arabia were so much ca aci asked and saudi arabia were so much capacity could asked and saudi arabia were so much capacity could loosen asked and saudi arabia were so much capacity could loosen its asked and saudi arabia
Honor of introducing our event today where were going to discuss not only ganesh, his incredible book, but also the animus that really brings it to life. This is the latest in columbia series on markets where we discuss problems, political economy and how to solve them. I want to start by noting that his book is brilliant, and its brilliant because. It touches on problems that are so implicitly obvious to all of us. Im sure everyone in this room has felt frustration. An airline categorically. It feels like air travel has somehow even worse. Were offered less space and stuffed amidst more seats. Were given less food and charge, more fees. Were extended longer delays and offered less destinations. Everything that should have grown has shrunk and everything that should have shrunk has grown. Our planes have inverted and too often it feels like were flying upside down. And these problems with Civil Aviation emblematic of larger problems with our own country all over our infrastructure feel