Federal Reserve officials at their March meeting expressed concern that inflation wasn’t moving lower quickly enough, though they still expected to cut interest rates at some point this year. At a meeting in which the Federal Open Market Committee again voted to hold short-term borrowing rates steady, policymakers also showed misgivings that inflation, while easing, … Read more
Former Federal Reserve Board Chair Ben Bernanke speaks during a discussion on “Perspectives on Monetary Policy” during the Thomas Laubach Research Conference at the Federal Reserve Board building in Washington, DC, May 19, 2023. Saul Loeb | AFP | Getty Images LONDON — The Bank of England will on Friday publish a long-awaited review by … Read more
Gold prices on Monday extended their record-breaking run, notching another all-time high amid robust U.S. economic data and elevated geopolitical tensions. Spot gold prices rose 0.5% to trade at $2,342 per ounce at around 11:45 a.m. London time, after briefly hitting a fresh record of $2,353 earlier in the session. The yellow metal has repeatedly … Read more
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank’s William McChesney Martin building on March 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on … Read more
Treasury yields climbed on Friday after closely watched nonfarm payrolls data for March surged past expectations. The 10-year Treasury yield jumped 6 basis points to 4.371%. The benchmark note on Wednesday briefly touched a new 2024 high of 4.429%. The 2-year Treasury yield was also higher by 8 basis points at 4.719%. Yields and prices … Read more
Mohamed Aly El-Erian, chief economic advisor for Allianz SE. Bloomberg | Getty Images The U.S. Federal Reserve has become too data dependent and has lost sight of its overall strategy, Mohamed El-Erian, chief economic adviser at Allianz, said Friday. The economist told CNBC that a longer-term, more strategic outlook could see policymakers settle on a … Read more
The 10-year Treasury yield briefly hit a new high for the year on Wednesday, adding to big gains in the previous session as private payroll data surpassed forecasts. The benchmark rate added around 2 basis points to 4.385%. At one point, the yield traded at its highest level back to late November. The 2-year Treasury … Read more
The 10-year Treasury note yield jumped Tuesday, adding to its gains from the previous session, as traders reassessed the possibility of the Federal Reserve cutting rates in June. The benchmark rate was up 2.6 basis points at 4.355%. It previously reached its highest level since Nov. 28, briefly breaking above 4.4%. The 2-year Treasury note yield … Read more
Federal Reserve Bank Chair Jerome Powell speaks during a news conference at the bank’s William McChesney Martin building on March 20, 2024 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images Markets will continue to rally even if the Federal Reserve chooses not to cut interest rates this year, according to Steven … Read more
A pedestrian in the Lagos Island district of Lagos, Nigeria, on Monday, Nov. 14, 2022. Bloomberg | Bloomberg | Getty Images The Central Bank of Nigeria on Tuesday hiked its key interest rate by 200 basis points, as Africa’s largest economy looks to recover from a historic currency crisis and soaring inflation. The CBN announced … Read more
