the race for a gop presidential nominee. for the first time since the invasion of ukraine began, russian officials could be facing war crimes charges. reuters and new york times reporting the international criminal court is planning to open two cases and issue arrest warrants for a number of people. something that ukraine has been asking for for some time. in just moments labor department will release a key inflation report revealing just how much consumer prices rose last month. biggest thing to watch for is what the federal reserve is going to do. are they worried about the fragility of the banking system and being able to handle more rate hikes. good morning, everyone. welcome in to cnn this morning. banks across america struggling with the fallout from the largest bank failure since the 2008 financial crisis. stocks of more than two dozen regional banks plummeted yesterday, even after president biden took emergency action to ease panic. we re keeping a
deposit runs and do something that protects them all. you said this weekend to my colleague matt egan that the fed should pause raising interest rates, meaning they should not raise rates at all. right. next week. what happens if the fed does raise even 25 bases points next week? right. well, 25 bases points would probably be less bad. i do think they should hit pause. i said that last december. look, i m an inflation hawk. i ve been arguing for normalizing interest rates since 2010. i have not liked this extended period of loose money, of cheap money. but, you know, if you look at where they started, they ve raised rates by 6,000 percent. they started at .08 and now 4.5. they need to hit pause and see what the impact of this will be on the financial system and the overall economy. so, yes, i do think that would be prudent. they can tighten later, but now they need to stop f they need to. now they need to stop and
Monday Market Mania â Kaplan Speaks!
There are 12 Fed speeches this week.
Author:
There are 12 Fed speeches this week.
6 of them are by Robert Kaplan, who is the President of the Federal Reserve Bank of Dallas and was a Vice-Chairman at Goldman Sachs (GS) with a 23-year carrer there before being sent off to the Fed. Kaplan is the Fed s Inflation Hawk and that means, most likely, he s here to cool off the markets so make sure you have your hedges up to date (see Friday s PSW Report) as it s not only time for retail earnings (which could be rough) but also options expire on Friday – so strap yourselves in.
decentury and also wall street s lead the nikkei with the decent session. more on that in a moment. one stock that s doing well is rand gold, forecast to be boosting the production so people are buying that stock. let s get a look at currencies. here s how the euro is doing. up just over one third of one percent against the dollar. ecb governoring council member who is widely regarded as an inflation hawk will speak about the single currency on monday in estonia and he s certainly a man that people are listening to more and more, andrew. charles, you mentioned about the nikkei, certainly the nikkei having a pretty good start to the week and in general markets across the region higher courtesy really of wl wall s