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5 Hours Ago
New York Fed’s Williams says central bank will stay data dependent
“We have to be driven by the data,” New York Fed President John Williams told Yahoo Finance on Tuesday. “I will say that one thing that we’re paying attention to is credit conditions but also do we really see signs of this underlying inflation coming down?”
Williams’ comments come a day ahead of the release of the latest U.S. inflation figures. Economists polled by Dow Jones expect a 6% year-over-year increase in the consumer price index. Currently, the Fed is expected to raise rates by 25 basis points next month.
— Fred Imbert
10 Hours Ago
IMF says global economy heading for weakest growth since 1990
The International Monetary Fund on Tuesday released its weakest global growth expectations for the medium term in more than 30 years.
The D.C.-based institution said that five years from now, global growth is expected to be around 3% — the lowest medium-term forecast in an IMF World Economic Outlook since 1990.
“The world economy is not currently expected to return over the medium term to the rates of growth that prevailed before the pandemic,” the Fund said in its latest World Economic Outlook.
— Silvia Amaro
9 Hours Ago
Information technology stocks lag
4 Hours Ago
Chicago Fed president is keeping eye on credit conditions
Chicago Fed President Austan Goolsbee said Tuesday he’s keeping an eye on credit conditions ahead of the central bank’s May meeting.
“Foremost thing on my mind before our next meeting in May is trying to get a handle on this question about credit: is it actually credit tightening?” he said at the Economic Club of Chicago. Concerns over credit conditions heightened after the collapse of Silicon Valley Bank and Signature Bank.
— Fred Imbert
7 Hours Ago
Warren Buffett sold Taiwan Semi partly due to geopolitical tensions, Nikkei reports
Warren Buffett revealed in an interview with Nikkei that his decision to dump a significant portion of Taiwan Semiconductor recently stemmed partially from geopolitical tensions.
The “Oracle of Omaha” sold 86% of his stake in the chipmaker in the fourth quarter. He had just bought the stock in the third quarter and made it Berkshire’s 10th biggest holding.
Buffett said geopolitical tensions were “a consideration” in the divestment, the paper said. He called the Taiwanese chip company a well-managed one but said Berkshire had better places to deploy its capital.
— Yun Li
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