Within hours of the imposition of President Trump’s sweeping tariffs against the world, the impact was felt by autoworkers in North America, with the announcement of thousands of layoffs by Stellantis at plants in the United States, Canada and Mexico.
Tag: S&P 500
The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation
By Pam Martens and Russ Martens, July 15, 2022
Yesterday afternoon, Mark Bialek, the Inspector General of the Federal Reserve, released a memorandum clearing Fed Chair Jerome Powell and former Fed Vice Chair Richard Clarida of wrongdoing in the trading scandal that has engulfed multiple officials of the Federal Reserve.
The Fed’s Inspector General Clears Jerome Powell of Wrongdoing in the Trading Scandal, One Day After Five Senators Accuse Him of Hampering the Investigation
Related:
Why sanctions against Russia may not work
The unprecedented U.S.-led Western sanctions against Russia have been likened to economic weapons of mass destruction (WMDs) that would ultimately destroy the Russian economy. In reality, the sanctions are like a double-edged sword — they inflict pain on Russia but also impose costs on their imposers.
Why sanctions against Russia may not work
Larry Summers Shares the Blame for Inflation
“The Cut Was Front Run”: Some Traders Suspect Fed-Rate Tip-off
Marc Cohodes, a well-known market short seller, tweeted Tuesday that “The Cut”—the Fed’s 50-basis-point rate cut— “was front run”—meaning that some people seemed to be trading with advanced knowledge that it was coming—“late Friday and all day yesterday.” A longtime CME trader wondered who might have known in advance about Powell’s surprise Friday afternoon statement when the market was down 1,000 points. “Who told Powell to make a positive spin today[?]” he wrote me. “Did Powell just come up with idea when market was down 1000 points?… If someone knew that late in the day [about] a positive announcement, that person or group would buy when others were selling…. If you KNEW that POWELL was going to announce something positive and you wanted him to tell the world late in the day, then wouldn’t you start buying earlier in the day? Of course.”
— Read on www.vanityfair.com/news/2020/03/some-traders-suspect-fed-rate-tip-off
Ms. Cat’s Chronicles 