New York Fed President: 'Seeing signs of inflation slowing,' but it is 'still ve...
source link: https://finance.yahoo.com/video/york-fed-president-seeing-signs-215359840.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
New York Fed President: 'Seeing signs of inflation slowing,' but it is 'still very high'
New York Fed President: 'Seeing signs of inflation slowing,' but it is 'still very high'
In an exclusive interview with Yahoo Finance's Jennifer Schonberger, New York Federal Reserve Bank President John Williams made it clear he is still focused on fighting inflation. "We are seeing signs of inflation slowing, but inflation is still very high." He goes on to say, "some of this core services inflation, excluding housing, that hasn't budged yet" and that the Fed has its "work cut out for us to get inflation back to 2%." Williams also says he is "very much watching for" any continued fallout from the collapse of Silicon Valley Bank and Signature Bank and that the banking system has "really stabilized." Click here to see the full interview with the New York Fed's John Williams. Key video moments: 00:09 "Inflation has started to come down" 00:24 Where the U.S. is seeing inflation come down 00:53 "Inflation is still very high"
-
New York Fed President: 'Seeing signs of inflation slowing,' but it is 'still very high' Yahoo Finance Video
-
NY Fed President Williams' Highlights: Inflation, Jobs, and Interest Rates
-
Tesla is at the top of the mountain, everyone else is trying to catch up: Analyst
-
Twitter to merge with X Corp as next step in ‘everything app’ push
-
Breaking down the Consumer Price Index (CPI)
-
Chipotle pilots new sustainability program, on-location EV charging stations
-
Twitter has ’an undercurrent of chaos’ and unpredictability under Musk's leadership: Reporter
-
Tuesday’s top stories: NY Fed President interview, bitcoin surges, YouTube’s NFL Sunday Ticket
-
Homeowners are having to give up their 2.5-3% mortgage rates just ‘to get a buyout’: Realtor
-
Rent the Runway to report earnings on Wednesday, expands customer offerings
-
Ford invests $1.3 billion in Canadian EV manufacturing hub; Lucid unveils first model
-
FBI warns against using public phone charging stations
-
‘I expect to see either benefit stability or cuts to benefits’ in Medicare advantage plans: SCAN CEO
In an exclusive interview with Yahoo Finance's Jennifer Schonberger, New York Federal Reserve Bank President John Williams made it clear he is still focused on fighting inflation.
"We are seeing signs of inflation slowing, but inflation is still very high." He goes on to say, "some of this core services inflation, excluding housing, that hasn't budged yet" and that the Fed has its "work cut out for us to get inflation back to 2%."
Williams also says he is "very much watching for" any continued fallout from the collapse of Silicon Valley Bank and Signature Bank and that the banking system has "really stabilized."
Click here to see the full interview with the New York Fed's John Williams.
Key video moments:
00:09 "Inflation has started to come down"
00:24 Where the U.S. is seeing inflation come down
00:53 "Inflation is still very high"
Video Transcript
JENNIFER SCHONBERGER: So then given your assessment of the job market and new developments we've seen with OPEC cutting back on oil production, how does that inform your outlook for inflation.
JOHN WILLIAMS: Well, you know, inflation has started to come down. It peaked for the-- last year, around 7% on the personal consumptions, expenditure, price index that we follow at the Fed. It's down to about 5%, still way above our 2% goal. We're seeing inflation come down mostly now in the commodities and the goods prices. And I think that does reflect some of the pandemic effects, you know, fading.
We're seeing supply chains opening up much more globally. So those things are all good to bring down those factors of inflation. We're also seeing some signs that demand for housing is slowing. We're seeing then in the housing data. We're also seeing that in the rent data for the new, you know, rents that people are signing new lease, you know, their new leases on.
So we're seeing signs of inflation slowing, but inflation is still very high. And I would just mention that, you know, some of this core services inflation, excluding housing, that hasn't budged yet. So still got our work cut out for us to get inflation back to 2%
- Investor's Business Daily
10 Banks' Profit Is About To Completely Fall Apart, Analysts Warn
Just when you thought the banking crisis was over — you'd better brace for an onslaught of big drops in bank profit.
18h ago - Yahoo Finance
Fed's Williams: The Fed has its 'work cut out' bringing down inflation
NY Fed president John Williams told Yahoo Finance on Tuesday inflation remains "very high," a challenge for the central bank that is working to ensure prices rise at a 2% annual rate.
11h ago - Benzinga
Why Virgin Orbit Stock Is Plunging Today
Virgin Orbit Holding, Inc (NASDAQ: VORB) shares are down 31% today after receiving a delisting notice. As a result of the commencement of voluntary proceedings under Chapter 11 of the United States Bankruptcy Code, Virgin Orbit Holding has been notified by the Listing Qualifications Department of NASDAQ to commence proceedings to delist its common stock and warrants to purchase common stock. Nasdaq also asserted that VORB is in violation of Listing Rule 5250(c)(1) because it has yet to file its
11h ago - TipRanks
Billionaire Paul Singer Says Recession Is Likely, but Stays Heavily Invested in These 2 Stocks
While markets have seen sound gains year-to-date, with the S&P up more than 7% and the NASDAQ an even better 15%, plenty of indicators are sending out contrary signals. Inflation remains high, but there’s doubt that the Fed could keep boosting interest rates without sparking another banking crisis, and there’s real worry that the combination of high inflation, high rates, and an unstable banking sector may bring about a recession in the near term. Watching current conditions, billionaire hedge m
12h ago - TipRanks
‘Too Cheap to Ignore’: Cathie Wood Snaps Up These 2 Stocks Under $5
In the aftermath of last month’s failure of Silicon Valley Bank and the resulting banking crisis, economists and market experts are now turning their attention to the bigger picture, and unfortunately, the outlook is bleak. Cathie Wood, founder and head of ARK Investment, has pointed out that the velocity of money is slowing, and the odds of a ‘hard landing’ are rising. In her view, we’re more likely to see the economy take sharp downturn in the near future, caused by a confluence of high intere
1d ago - Fortune
Warren Buffett has his eyes on this one country when it comes to his future investments—and he already owns 6% of its top 5 companies
Buffet has long been a fan of overseas investment and is looking to forge closer ties to Japan.
18h ago - Reuters
U.S. House to vote on bill to address potential Huawei, ZTE threats
The House of Representatives is set to vote next week on a bill to crack down on Chinese telecommunications companies Huawei and ZTE Corp that have been deemed security threats by the U.S. government. The House said on Tuesday it will take up a bipartisan bill called the Countering Untrusted Telecommunications Abroad Act that would require the State Department to report on U.S. NATO allies and others using telecommunication equipment or services in their 5G networks from companies like Huawei and ZTE. "We need to redouble our efforts to protect our national security and interests, help our allies take vital measures for their own security, and stand firmly in defense of fundamental rights," said Representative Susan Wild, the Democratic sponsor of the measure.
8h ago - Reuters
Marketmind: Nervy markets wait on inflation report, Fed cues
Today marks what has become a monthly routine when investors hold their collective breath for the U.S inflation report, to gauge just how sticky prices are likely to be and the path the Fed will take to tackle inflation. Also due later in the day are minutes of the Fed's last meeting in March, when the central bank raised rates by 25 basis points and hinted that it may just be at the end of its hiking cycle. Investors will parse through the commentary to better understand the Fed's thinking about the turmoil in the banking sector, which had stoked expectations that the Fed may need to cut rates.
1h ago - Reuters
New Florida board seeks power over Walt Disney World cities
Florida Governor Ron DeSantis's newly formed oversight board is seeking to assert control over development in two cities where Walt Disney World Resort is located, the latest twist in a battle for authority over the company's Florida theme parks. A resolution, seen on Tuesday by Reuters, would give the Central Florida Tourism Oversight District board the power to review and evaluate development in the 25,000-square acres of property in and around Walt Disney Co's theme parks. The district would hold "superior authority and control" over planning, zoning and other land use in the cities of Bay Lake and Lake Buena Vista, under a Florida law that formed the state-appointed oversight board.
6h ago - The Wall Street Journal
Houston Apartment Owner Loses 3,200 Units to Foreclosure as Multifamily Feels the Heat
The U.S. multifamily housing sector is feeling the heat as interest rates rise and rent growth slows.
16h ago - Yahoo Finance
Coming to a Chipotle near you? EV charging stations and rooftop solar panels.
Chipotle (CMG) is out with a new, all-electric restaurant design. It's all part of the burrito chain's goal to reduce direct and indirect greenhouse gas emissions 50% by 2030, compared to 2019.
16h ago - Fortune
Jeremy Grantham says Warren Buffett’s favorite corporate tactic facilitates ‘stock manipulation’ and hurts the economy
Warren Buffett called critics of stock buybacks "illiterate" in his annual shareholder letter. But now he's facing a new critic who is anything but: hedge funder Jeremy Grantham.
8h ago - Reuters
Buffett says geopolitics a factor in Berkshire sale of TSMC stake
Berkshire had bought more than $4.1 billion of Taiwan Semiconductor Manufacturing Co's shares between July and September 2022, but in February said it had sold 86% of its stake by year-end. The size of the investment suggested that Buffett, rather than one of his Berkshire portfolio managers, had bought the shares for Berkshire, and the sale was unexpected given the billionaire's preference to invest for the long-term.
16h ago - Zacks
Nvidia (NVDA) Stock Moves -1.49%: What You Should Know
Nvidia (NVDA) closed the most recent trading day at $271.69, moving -1.49% from the previous trading session.
8h ago - Fortune
Gen Z and millennials are so broke they’re ruining their parents’ retirements
A majority of U.S. parents have made financial sacrifices to help their adult children, but it could backfire.
11h ago - Fortune
Billionaire investor Barry Sternlicht says inflation is going to ‘drop hard’—just look at rents
Starwood Capital CEO Barry Sternlicht says that rents tell us inflation is about to plummet.
2d ago - TipRanks
Goldman Sachs Says Buy These 2 High-Yield Dividend Stocks — Including One With 9% Yield
Market indicators have been sending conflicting signals lately, creating uncertainty among investors. While year-to-date gains are certainly better than last year’s bear, and volatility, while a concern, has run lower than last year, plenty of risk factors still remain, both in the broader economy and in the stock market. Taking a wider view of the markets, Christian Mueller-Glissman, head of asset allocation research for Goldman Sachs, gives investors a nudge toward a more defensive posture. Ex
2d ago - SmartAsset
Take Note: Charles Schwab Says to Add This Asset to Your Retirement Portfolio
The first quarter of 2022 has been difficult for retirement savers and retirees alike, and according to investment firm Charles Schwab, it was one of the worst quarters for fixed-income in decades. However, the rising yields and changed Federal Reserve … Continue reading → The post Charles Schwab Says Now Is the Time to Add This Asset to Your Retirement Portfolio appeared first on SmartAsset Blog.
17h ago - Bloomberg
Bank of America Clients Withdraw $2.3 Billion From US Stocks of All Sizes
(Bloomberg) -- Bank of America Corp. clients sold US equities of all sizes last week, pulling roughly $2.3 billion despite the relative quiet in the stock market.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XTumbling Money Supply Alarms Economists Who Foresaw InflationRich Chinese Splashing Out on Luxury Have Yet to Invest Big in SingaporeTha
14h ago - Investor's Business Daily
Dow Jones Up As Apple Crumbles; Could Elon Musk Cut Prices After This Tesla Stock Call?
The Dow Jones gained despite rising fears. Elon Musk may have to cut prices again, according to a Tesla stock analyst. Apple stock fell.
1d ago - Bloomberg
Wells Fargo’s Harvey Warns S&P 500 Is Set for a 10% Correction
(Bloomberg) -- The resilience of US equities this year will be short-lived, with a worsening economic picture likely sending the market down in the coming months, according to Chris Harvey at Wells Fargo & Co.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTumbling Money Supply Alarms Economists Who Foresaw InflationRich Chinese Splashing Out o
12h ago - The Wall Street Journal
Bed Bath & Beyond’s Stock-Sale Deluge Lures Retail Investors
Retail investors have kept trading volumes in Bed Bath & Beyond stock robust as the company floods the market with hundreds of millions of shares even while warning about a potential bankruptcy.
9h ago - Business Insider
Housing is so unaffordable that banks are losing money for each mortgage they finance for the first time ever
New data shows mortgage financiers lost an average of $301 a home loan last year, the first time negative profits were recorded.
1d ago - SmartAsset
This Tax Loophole Can Save Your Heirs Big. Here's How T. Rowe Price Says to Use It
Deciding which accounts you'll withdraw money from – and when you'll take it – is an important decision in retirement. However, you may want to consider preserving assets held in a taxable brokerage account and passing them down to heirs. … Continue reading → The post This Tax Loophole Can Save Your Heirs Big. Here's How T. Rowe Price Says to Use It appeared first on SmartAsset Blog.
15h ago - SmartAsset
Are CDs Back? Where Advisors Are Telling Clients to Stash Cash as Rates Rise
With the Federal Reserve raising its benchmark interest rate month after month, rates on lending products have climbed as well. Certificates of deposit (CDs) are no different. The average rate on a six-month CD has ticked back up to just … Continue reading → The post Are CDs Back? Where Advisors Are Telling Clients to Stash Cash as Rates Rise appeared first on SmartAsset Blog.
1d ago - Yahoo Finance
Why Amazon stock is underperforming Meta stock despite similarities
Amazon's stock continues to lag. Blame AWS.
18h ago - Barrons.com
Nvidia and AMD Stock Have Upside on AI Opportunity, Analyst Says
KeyBanc Capital Markets analyst John Vinh raised his price targets on Nvidia and AMD stock, and reaffirmed Overweight ratings. He sees growing demand for artificial-intelligence applications.
14h ago - Barrons.com
Boeing Deliveries Beat Street Estimates. Earnings Are Up Next for the Stock.
The company delivered 130 jets overall in the first quarter, outpacing the 95 jets delivered in the year-ago quarter.
15h ago - Bloomberg
Big Banks That Shored Up First Republic Pushed to Boost Reserves
(Bloomberg) -- The biggest US banks are planning to bolster reserves in a move tied to their unusual effort to shore up ailing lender First Republic Bank last month.Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTumbling Money Supply Alarms Economists Who Foresaw InflationInflation Data Will Shatter the Stock Market Calm, Goldman Partner Warns
6h ago - Zacks
Intel (INTC) Stock Moves -0.49%: What You Should Know
Intel (INTC) closed at $32.36 in the latest trading session, marking a -0.49% move from the prior day.
8h ago - Yahoo Finance
Stocks mixed, tech slumps as all eyes turn to inflation data: Stock market news today
U.S. stocks wavered Tuesday, with the Tech sector taking a nosedive as key inflation data and the start of earnings season loomed on the week's calendar.
10h ago - Zacks
Can Delta or United Airlines Stock Takeoff This Earnings Season?
Post-pandemic leaders in the airline industry should start to emerge this earnings season and Wall Street will be seeing if Delta Air Lines (DAL) or United Airlines (UAL) will be at the forefront.
8h ago - Bloomberg
Blackstone Raises More Than $30 Billion for Giant Real Estate Fund
(Bloomberg) -- Blackstone Inc. has closed on its largest global property drawdown fund, targeting opportunistic deals across sectors such as rental housing, hospitality and data centers. Most Read from BloombergKatie Cotton, Guardian of the Apple Brand for 18 Years, DiesTwitter Company ‘No Longer Exists,’ Is Now Part of Musk’s XElizabeth Holmes Will Have to Wait Out Her Appeal in PrisonTumbling Money Supply Alarms Economists Who Foresaw InflationInflation Data Will Shatter the Stock Market Calm,
12h ago - CoinDesk
Ethereum’s Shanghai Upgrade Will Permanently Alter ETH Economics
In time the “Shanghai” upgrade may be remembered as a uniquely bullish event for ether (ETH), the world’s second-largest cryptocurrency by market value. In the short term, however, a number of the world’s leading Ethereum quant traders who historically have outperformed ETH staking yield believe price action will be neutral to potentially bearish due to the expected large increase in circulating supply of ETH after investors are finally able to withdraw their stakes. Over a longer time horizon Ethereum’s total switch to proof-of-stake is likely to only benefit the network and ETH’s price – enough so to possibly dethrone bitcoin (BTC) as the world’s largest cryptocurrency by market cap.
14h ago - Zacks
Lockheed Martin (LMT) Stock Moves -1.79%: What You Should Know
In the latest trading session, Lockheed Martin (LMT) closed at $487.84, marking a -1.79% move from the previous day.
8h ago - Yahoo Finance
Meta is ‘giving the market what it wants,’ analyst says
Meta's cost-cutting measures are working and should have a positive effect on the company's bottom-line, Argus Research Senior Securities Analyst Joseph Bonner told Yahoo Finance Live.
11h ago - Reuters
Oil steady as market awaits key US inflation data
(Reuters) -Oil prices were mostly steady on Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve's policy on future interest rate hikes. Prices had risen about 2% on Tuesday amid optimism that the U.S. Federal Reserve is getting closer to ending its cycle of interest rate hikes, making dollar-priced oil cheaper for buyers holding other currencies. Philadelphia Federal Reserve Bank President Patrick Harker said on Tuesday that he feels the U.S. central bank may soon be done raising interest rates, while Minneapolis Federal Reserve Bank President Neel Kashkari said he believes inflation, now at a rate of 5% by the Fed's preferred measure, will get to "the mid-threes" by the end of this year.
4h ago - SmartAsset
If You Have This Much Money, A Financial Advisor Can Make You Happier
Money can't buy you happiness, but what about working with a financial advisor?
17h ago - Zacks
OrganiGram (OGI) Reports Q2 Loss, Misses Revenue Estimates
OrganiGram (OGI) delivered earnings and revenue surprises of -100% and 9.74%, respectively, for the quarter ended February 2023. Do the numbers hold clues to what lies ahead for the stock?
5h ago - Barrons.com
3M and 5 Other Stocks That Could Be Spinoff Plays
As the three-ring circus of rising interest rates, inflation, and bank failures plays out, consider corporate spinoffs and separations.
8h ago
Recommend
-
1
Market jitters over Zoom’s slowing growth, but positive signs remain for long term Read later
-
4
Consumer demand for goods shows signs of slowing
-
3
12:23...
-
3
President Biden signs Inflation Reduction Act to limit climate changeIgor Bonifacic·Weekend Editor
-
6
Proper sleep — 20-year-old Linux workaround is still slowing down AMD systems A little fix for CPUs that didn't properly sleep had decades-long consequences....
-
3
TechNew York governor signs first-of-its-kind law cracking down on bitcoin mining —...
-
4
Home ...
-
3
the fix is in — New York governor signs modified right-to-repair bill at the last minute Bill passed the state legislature with overwhelming majorities over the summer.
-
0
-
3
Tech Firms Are Slowing Layoffs But Still N...
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK