Central Bankers Talk Tough on Interest Rates. That Could Change if Markets and Economies Don’t Perk Up.

Central Bankers Talk Tough on Interest Rates.  That Could Change if Markets and Economies Don’t Perk Up.

Text size European Central Bank chief Christine Lagarde doubts that “we are going back to that environment of low inflation” that existed prior to the Covid-19 pandemic. Ronald Wittek/Pool/EPA-EFE/Shutterstock Former Federal Reserve Chairman Ben Bernanke contends that monetary policy is 98% talk. Central bankers are supposed to communicate goals they want the public and markets … Read more

Why China’s Quarantine Easing Won’t Help the Economy

Why China’s Quarantine Easing Won’t Help the Economy

Text size China has reduced the quarantine time for inbound travelers. Here: passengers wait to be taken to quarantine-designated destinations from the Beijing International Airport. Leo Ramirez/AFP/Getty Images The news this week that China has halved its quarantine time for inbound travelers sent local stocks soaring even higher amid their rally and caused a spike … Read more

50 Years of Integrity at the Financial Accounting Foundation

50 Years of Integrity at the Financial Accounting Foundation

About the author: John J. Brennan is chairman emeritus of Vanguard. He is the former chair of the Financial Industry Regulatory Authority and trustee and chair of the Financial Accounting Foundation. Back in the 1990s, I received a phone call from Arthur Levitt, chairman of the SEC. “Jack, I need you to serve your country,” … Read more

China’s Economic Recovery Is Limping Along

China’s Economic Recovery Is Limping Along

China’s economic performance isn’t looking strong, according to Beige Book. Hector Retamal/AFP/Getty Images Text size China’s economic performance in the second quarter isn’t looking strong, according to a strategist’s new report. Results for the three months ending this week will be officially released in July, but an early number-crunching assessment by China Beige Book argues … Read more

China’s Economic Recovery Looks Worse Than Expected, This Strategist Says.

China’s Economic Recovery Is Limping Along

Text size China’s economic performance isn’t looking strong, according to Beige Book. Hector Retamal/AFP/Getty Images China’s economic performance in the second quarter isn’t looking strong, according to a strategist’s new report. Results for the three months ending this week will be officially released in July, but an early number-crunching assessment by China Beige Book argues … Read more

Stock Market Today: Dow Rises, Snowflake Gains, eBay Drops

Stock Market Today: Dow Rises, Snowflake Gains, eBay Drops

Text size Wall Street continues to center on how aggressive the Federal Reserve will be in boosting interest rates. Angela Weiss/AFP via Getty Images US stock indexes opened in the green on Tuesday, extending a string of gains that began last week. Optimists believe that a bottom had been found after a brutal start to … Read more

Best and Worst Spots in the US Housing Market, According to Lennar

Best and Worst Spots in the US Housing Market, According to Lennar

Elias Stein Text size Jersey and Florida are hot. Austin and Seattle are not. On Tuesday, home builder Lennar ‘s co-CEO Richard Beckwitt on an earnings call provided a tour of US housing markets. “So far in June, new orders, traffic, sales incentives, and cancellations have increased in many of our markets due to a … Read more

The Stock Market Rally Is Real. It’s Still a Bear Market.

The Stock Market Rally Is Real.  It’s Still a Bear Market.

Text size Federal Reserve Chairman Jerome Powell. Kevin Dietsch/Getty Images) Even bear markets get bounces. The stock market had a terrific week, and for the first time in a long time, the rally feels like it can last. The Dow Jones Industrial Average rose 5.4%, the S&P 500 gained 6.4%, and the Nasdaq Composite climbed … Read more

Stocks Shoot Higher. Powell Couldn’t Scare the Markets This Time.

Stocks Shoot Higher.  Powell Couldn’t Scare the Markets This Time.

Text size David L. Nemec / New York Stock Exchange The stock market gained Thursday as Federal Reserve Chairman Jerome Powell testified before Congress for a second day. Nothing he has said scared the market—for now. The Dow Jones Industrial Average gained 195 points, or 0.6%, while the S&P 500 rose 1% and the Nasdaq … Read more

Stock Market Today: The Dow Drops After Powell Speaks

Stock Market Today: The Dow Drops After Powell Speaks

Text size People walk along Wall Street, near the New York Stock Exchange in New York. Photo by ED JONES/AFP via Getty Images The stock market couldn’t hold on to gains Wednesday, even after Federal Reserve Chairman Jerome Powell told lawmakers that a slower pace of interest rate hikes is possible. Markets are just too … Read more