Tag: economic policies

Federal Reserve, Other Central Banks Announce Joint Liquidity Measures

March 19, 2023
Asia & PacificBank of JapanBusiness & MarketsCanadaeconomic policieseconomyEuropeMarketsSwiss National BankU.S. Federal ReserveUSWorld
0 Comment

The U.S. Federal Reserve announced on Sunday that it is collaborating with some of the world’s largest central banks to enhance liquidity provision by strengthening the standing of U.S. dollar liquidity swap line arrangements. The central banks will increase the frequency of seven-day maturity operations from weekly to daily to improve the effectiveness of the…

Read More

A 4-Day Work Week Sounds Great, But What’s the Cost?

March 18, 2023
AustraliaBusiness & MarketsCompanieseconomic policiesfour day work weekInternationalOpinionproductivityViewpointsWorld
0 Comment

Commentary There is no such thing as a free lunch. So goes the saying. Someone always has to pay. The question is only—who and when? This is a truism based on our experience as a society over millennia of generations. Similarly, there is no such thing as a four-day week with no diminution in income…

Read More

A Mismanaged Silicon Valley Bank Failure Has Grave Consequences

March 18, 2023
Business & MarketsBusiness ColumnistsChinaChina Business & Economyeconomic policieseconomyFDICFederal ReserveGlobal ExpansionInternational RelationsInvestmentJanet YellenMarketsOpinionrecessionSilicon Valley Bank CollapseSpecial Topicsstocks
0 Comment

Commentary This was undoubtedly the week that was. Silicon Valley Bank’s (SVB) failure sent the markets into the worst turmoil since the 2008 financial crisis. And, as I write this Friday morning, St. Patrick’s Day, there are “little fires everywhere” in regional banks that have unsettled markets. Most of them could have been avoided. What…

Read More

Canadian Governments Spent Over $352 Billion in Business Subsidies Over 13-Year Period: Study

March 18, 2023
BusinessBusiness & MarketsCanadaCompanieseconomic policiesFraser InstitutesubsidiesWorld
0 Comment

A total of $352.1 billion in business subsidies have been paid out by all three levels of government between 2007 and 2019, translating into thousands to tens of thousands of dollars spent by Canadian taxpayers, according to a Fraser Institute study. Tegan Hill and Joel Emes, senior economists at the think tank and co-authors of…

Read More

‘Not QE’ as Fed Trapped Between a ‘Rock and a Hard Place’

March 18, 2023
Business & MarketsBusiness ColumnistsCompanieseconomic policieseconomyFedinflationMarketsOpinionquantitative easingrecessionUSUS News
0 Comment

Commentary “QE” or Quantitative Easing has been the bull’s siren song for the last decade, but will “Not QE” be the same? Last week, amid a rash of bank insolvencies, government agencies took action to stem a potential banking crisis. The Federal Deposit Insurance Corporation (FDIC), the Treasury, and the Fed issued a Bank Term…

Read More

Federal Reserve Pauses Tightening as Emergency Lending Hits $300 Billion

March 17, 2023
Business & Marketseconomic policieseconomyFederal ReservePoliticsquantitative easingquantitative tighteningUS
0 Comment

New data reveal that the Federal Reserve balance sheet has surged to its highest level since November as the central bank attempts to avert the contagion of the banking crisis. The Fed’s balance sheet for the week ending March 15 increased $297 billion, hitting a five-month high of $8.639 trillion. Since climbing to an April…

Read More

Eurozone Labor Costs Jump 5.7 Percent Year on Year in 4th Quarter

March 17, 2023
Business & Marketscostseconomic policieseconomyenergyEuropeeurozoneinflationlaborMarketsrecessionWorld
0 Comment

BRUSSELS—Eurozone labor costs jumped in the last three months of 2022 and third-quarter data was revised up as well, but the rise of the wage component was still roughly half the increase in consumer inflation, data showed on Friday. The European Union’s statistics office Eurostat said labor costs in the 19 countries that shared the…

Read More

Billionaire Investor ‘Extremely Concerned’ About Financial Contagion Risk After First Republic Rescue

March 17, 2023
Business & MarketsCompanieseconomic policieseconomyFirst Republic BankMarketsSilicon Valley Bank CollapseUS
0 Comment

Billionaire investor Bill Ackman said he is “extremely concerned” by the federal government-backed infusion of $30 billion to First Republic Bank by 11 of the top banks, saying the plan will create a “false sense of confidence” and risks the spread of contagion. On Thursday afternoon, 11 banks—including JPMorgan Chase, Wells Fargo, Citibank, and Bank…

Read More

Wall Street Opens Lower as Bank Worries Linger

March 17, 2023
Business & MarketsCompanieseconomic policieseconomyinflationMarketsrecessionstocksUS
0 Comment

Wall Street’s main indexes opened lower on Friday as investors remained wary about a potential banking crisis even as the country’s largest banks came to the rescue of troubled regional lender First Republic Bank. The Dow Jones Industrial Average fell 29.23 points, or 0.09 percent, at the open to 32,217.32. The S&P 500 opened lower…

Read More