China to cut banks’ reserve requirements by 50 basis points from Feb. 5 – CNBC
Mr. Pan Gongsheng was appointed Party Secretary of the People's Bank of China on July 1, 2023. Video Visual China Group | Getty Images BEIJING—China has pledged to cut the amount of liquidity banks need to hold in reserves early next month to shore up its struggling economy. The People's Bank of China said it […]
When will the Federal Reserve start to cut interest rates?
Adam Covissi, Editor-in-Chief of the Covissi Letter, discusses his predictions for the market in 2024 after the Dow Jones falls from its all-time high in “Kabuto: Coast to Coast.” The Fed ended 2023 with an unexpected policy shift. In December, central bankers signaled at their last meeting of the year that a nearly two-year battle […]
Federal Reserve Payments to Banks Trigger Largest Ever Operating Loss
The Federal Reserve quietly incurred huge losses in 2023 as the interest it pays banks dwarfs the interest it earns from its bond portfolio, according to data released by the central bank on Friday. The Federal Reserve announced that it will lose about $114.3 billion in 2023, its largest annual loss ever. The losses occurred […]
NHL rookie phenom Connor Bedard suffers fractured jaw, placed on injured reserve
The NHL's best prospect since Sidney Crosby will have to postpone his rookie season. Chicago Blackhawks rookie phenom Connor Bedard, the No. 1 overall pick in the latest NHL Draft, was placed on injured reserve after suffering a broken jaw Friday night. Bedard was hit in the face by Brendan Smith of the New Jersey […]