Podcasts about san francisco fed president mary daly

San Francisco Fed President Mary Daly says that while there isn’t much indication yet that artificial intelligence is fundamentally changing the US economy, policymakers must be open to signs that the new technology will have an impact. Daly also says that it's hard to assess the AI impact on productivity. Mary Daly sat down with Bloomberg's Ed Ludlow at a panel in San Jose State University.See omnystudio.com/listener for privacy information.

P.M. Edition for Nov. 24. In an exclusive interview, San Francisco Fed President Mary Daly says she supports a rate cut at the Fed's next meeting in December. She has rarely been in public opposition with Fed Chair Jerome Powell. Plus, WSJ national security correspondent Michael Gordon discusses the sticking points in negotiations over President Trump's Ukraine peace plan. And, in an unusual diplomatic move, Chinese leader Xi Jinping called President Trump to discuss Taiwan. Alex Ossola hosts. Correction: A new report said the share of movies that included tobacco products last year was 10 percentage points higher than in 2023. An earlier version of this podcast incorrectly said it was 10 percent higher. (Corrected on November 25) Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Andrew and Ben discuss San Francisco Fed President Mary Daly's call for interest rate cuts, trade balance data, and various earnings. Song: Heaven Beside You - Alice In ChainsFor information on how to join the Zoom calls live each morning at 8:30 EST, visit:https://www.narwhal.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhal.com/disclosure

San Francisco Fed President Mary Daly speaks with Bloomberg's Michael McKee at the Rocky Mountain Economic Forum in Victor, Idaho. She discusses her outlook for rate cuts and labor market weakness.See omnystudio.com/listener for privacy information.

San Francisco Fed President Mary Daly and Fed Governor Christoper Waller weighing in on the central bank's next rate move. What they had to say about an interest rate adjustment, and what it will mean for the market this summer. Plus Circle keeps soaring, after the Senate passed its stablecoin bill. What the landmark legislation means for the crypto space. Fast Money Disclaimer

San Francisco Fed President Mary Daly talks inflation, policy, and the path of the economy. Schwab's Kevin Gordon weighs in on this week's market action. Dan Ives of Wedbush breaks down Tesla's Robotaxi momentum and IBM's recent breakout. Meta CTO Andrew Bosworth talks the company's AI push, competition with defense contractors, and joining the U.S. Army Reserve. Our Pippa Stevens reports on the high-stakes competition between states to land data centers—and what it's costing taxpayers.

The consumer may be more stretched than Wall Street thinks, as several companies slash guidance. Mastercard's Steve Sadove dives into the latest SpendingPulse survey. Plus, it's been a turnaround story for much of the Chinese stock market in recent months. Goldman Sachs' Kinger Lau explains. And, San Francisco Fed President Mary Daly is throwing some cold water on renewed rate cut hopes. Liontrust Asset Management's Clare Pleydell-Bouve and Alger's Amy Zhang discuss.

San Francisco Fed President Mary Daly joins us exclusively, on the heels of Fed Chair Powell saying the central bank is “not confident” it has done enough to bring inflation down. Plus, how much will macro headwinds weigh on consumer spending this holiday season? Bank of America's retail analyst gives us her preview. And Tripadvisor's CEO is here with his outlook on the holiday travel season, and the growth the company is seeing in the “experience economy.”

San Francisco Fed President Mary Daly says rates could still rise if the economy re-accelerates. Plus: GM shares fall 2.4% over recall concerns. Mortgage rates reach 7.49%. J.R. Whalen reports. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this Real Estate News Brief for the week ending August 12th, 2023... you'll hear what Fed officials are forecasting for housing inflation, why a New York judge tossed an Airbnb lawsuit, and the top ten cities for build-to-rent single-family homes.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with economic news from this past week that features two reports on inflation. The Labor Department reported that the Consumer Price Index was slightly higher in July than it was in June, although the reported figure for both months was .2%. The slight increase was enough to bring the yearly rate up a tiny bit, from 3% to 3.2%, but as MarketWatch reports, the fluctuation may not be enough to worry the Fed. The core rate, which eliminates prices for food and fuel, was also up .2% with an annual rate that was down slightly from 4.8% to 4.7%.   According to Fed researchers, housing costs account for 90% of the inflation rate. They say that shelter costs were up .4% with a 7.7% year-over-year increase. But that number also represents a slow down the cost of housing. In March, the year-over-year rate was 8.2%. Researchers say: “Various market indicators, including house prices and rents, suggest that the housing market has slowed significantly with the rise in interest rates.” They say: “Our baseline forecast suggests that year-over-year shelter inflation will continue to slow through late 2024 and may even turn negative by mid-2024.”   The Producer Price Index for July also came out this last week and it showed an unexpected increase of .3% in July. That's up from .1% in June. That brings the annual rate up from a minimal .1% in June to .8%. The core rate also rose from .1% in June to .2% in July, for an annual rate of 2.7%. Economists are generally not anticipating another rate increase by the Fed in September, but they also can't rule it out, especially when they see inflation reports that any kind of increase.   Fed officials are also taking a wait-and-see stance. San Francisco Fed President Mary Daly is one of them. She said in a TV interview this last week: “There's still more work to do” and “there's a lot of time between now and September” indicating that incoming data will influence a decision on whether to hike rates another time. Fed officials raised the overnight lending rate a quarter point at their July meeting, to a range of 5.25% to 5.5%.   The number of people applying for unemployment benefits surged a bit last week. There were 21,000 additional claims for a total of 248,000. But the total number of people collecting benefits was down by 8,000 to 1.64 million. The overall trend has been a decline in claims, showing that the job market is still in good shape despite the Fed's effort to bring the economy, and the job market, down a notch or two.   Mortgage Rates   Mortgage rates crept higher for a third straight week, and are just a hair under 7% for your typical loan. Freddie Mac says the average 30-year fixed-rate mortgage was up 6 basis points to 6.96%. The 15-year was up 9 points to 6.34%.   In other news making headlines…   Judge Dismisses Lawsuit by Airbnb, NY Landlords    A New York judge tossed an Airbnb lawsuit against rules that could reduce the overall number of available rentals. The lawsuit was filed by Airbnb and three New York City hosts to challenge a requirement that listings must be registered or face penalties. That will require a registration fee. Hosts must also be present when the units are being rented.    They say the rule will make it nearly impossible to provide short-term rentals in the city's five boroughs and were seeking $85 million in damages. It is also expected to cause problems for landlords with tenants who rent their units illegally. The judge says the rules will probably not be perfect, but will make it possible to enforce a ban on illegal short-term rentals.   Remote Work Also Popular Among Executives   It isn't just the rank-and-file employees who want to work remotely. A report by Deloitte found that two-thirds of the executives that work in the financial services industry would walk off the job if they had to return to the office full-time. And more than half of them say they are feeling pressured to do exactly that.    They also feel they are making a sacrifice to work remotely, with a majority saying that in-office employees are paid more, are chosen more often for promotions, and are given more decision-making powers. They also feel they are missing out on networking opportunities.   Insider reported that a survey by McKinsey shows that many highly paid executives would be willing to take a 20% pay cut to continue working from home.   Where You'll Find the Most Build-to-Rent Homes   The build-to-rent trend is alive and well and very popular in some Sunbelt cities. A RealPage report shows that the three metros with the highest number of build-to-rent homes under construction are in Phoenix, Dallas, and Atlanta. It says that those metros account for 25,000 up-and-coming new units or more than a third of the nation's total number of build-to-rent homes under construction.   Other cities on the list include Fort Worth in fourth place, Houston in fifth, and Charlotte, North Carolina in sixth. Seventh on the list is San Antonio. Austin is eight. Nashville is ninth. The only Midwest metro on the list is Columbus, Ohio, in tenth position.   That's it for today. If you've missed some of our episodes, you can catch up at https://www.newsforinvestors.com. And please remember to hit the subscribe button, and leave a review!   You can also hit the Join for Free button to become a RealWealth member. As a member, you get access to our Investor Portal, where you'll be able to look at property pro-formas and connect with our network of resources. That includes experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and others.   Thanks for listening. I'm Kathy Fettke.   Links:   1 - https://www.marketwatch.com/story/u-s-inflation-rate-creeps-back-up-cpi-shows-feds-fight-not-over-5f213049?mod=economy-politics   2 - https://www.bisnow.com/national/news/economy/rents-now-account-for-90-of-inflation-which-ticked-up-in-july-120172   3 - https://www.marketwatch.com/story/u-s-wholesale-prices-pick-up-in-july-ppi-shows-2a4dbfaf?mod=economy-politics   4 - https://www.marketwatch.com/story/fed-has-more-work-to-do-to-get-inflation-back-down-daly-says-1899e2cf   5 - https://www.marketwatch.com/story/u-s-jobless-claims-rise-to-highest-level-in-a-month-e2ec6929?mod=economy-politics   6 - https://www.freddiemac.com/pmms   7 - https://www.bisnow.com/new-york/news/hotel/airbnbs-lawsuit-challenging-new-yorks-restrictions-dismissed-by-judge-120161   8 - https://www.businessinsider.com/financial-execs-would-quit-if-mandated-back-to-office-2023-8   9 - https://www.globest.com/2023/08/11/here-is-where-the-most-build-to-rent-units-are/

On this episode of The Rate Guys Podcast we dissect San Francisco Fed President Mary Daly's views on inflation and rate hikes. With modest Core CPI increases, is the Fed truly data-driven? Delve into inflation dynamics, housing costs, and global economic markers, like China's CPI. We explore market forecasts and debate the Fed's next steps: will the tightening actually continue to 'improve morale'? For graphs referenced check out the Pensford's newsletter. 

In this Real Estate News Brief for the week ending July 15th, 2023... the best inflation news in a long time, why you might get some money back from BofA, and a ranking of state economies with two of my favorites at the top.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with economic news from this past week, and the big news came from two promising inflation reports. With a tiny .2% increase in June, the Consumer Price Index, or CPI, shows that inflation is slowing down. The June reading is down from a .3% increase in May, and brings the annual rate down from 4% to 3%. It's the lowest rate of inflation we've seen since March of 2021.   The core rate of inflation, which omits food and gas, rose the same .2%, but the annual rate is still on the hot side. It's currently at the 4.8% level. The core rate is considered a better gauge for price growth, and is still well above the 2% target the Fed is aiming for. But things are going in the right direction. (1)   The Bureau of Labor Statistics also reported good news for wholesale inflation. It says the Producer Price Index or PPI rose .1% in June and indicates that wholesale costs may have stopped going up. The annual rate has now slowed from 1.1% in May to just .1% currently, which is VERY close to zero.   The core rate shows the same monthly increase with an annual rate that is now 2.6%. Economists are still predicting that Fed officials will hike rates again at the next meeting despite these great reports, to make sure they've squeezed every last drop of inflation out of the economy. (2)   San Francisco Fed President Mary Daly more or less confirmed that view, saying that “It is really too early to declare victory on inflation.” She says she's still in the wait-and-see mode. (3) Fed Governor Christopher Waller also spoke out after the CPI report saying: “The report warmed my heart, but I have got to think with my head.” He says he's seeing two more 25-basis-point hikes by the end of the year. (4)   The weekly jobless report continues to highlight the strength of the job market. Jobless claims dipped again from a revised 249,000 to 237,000 last week. The decline may have also been impacted by the July 4th holiday, if workers didn't apply for benefits right away. But the big picture shows that the job market is still going strong. (5)   Mortgage Rates   Mortgage rates are not doing what we'd like them to do. Freddie Mac says the 30-year fixed-rate mortgage was up 15 basis points last week, to an average of 6.96%. The 15-year was up 6 points to 6.3%. (6) The Mortgage Bankers Association reports that average rates were up in the 7% range, but decreased slightly after those reports on inflation. (7)   In other news making headlines…   Bank of America Caught Double-Dipping   Bank of America is doing damage control for millions of dollars worth of illegal transactions. The Consumer Financial Protection Bureau says that BofA allowed fees to be repeatedly charged for the same insufficient funds transaction, withheld credit card reward points and cash, and created unauthorized accounts to help meet sales-based incentive goals. (8)   BofA will be paying $100 million to repay customers for illegal fees or unauthorized account charges, and about $90 million in penalties. Customers don't have to apply for this compensation. The bank will either deposit any money owed into customer accounts, or send checks to the account holders.   Lenders Offer Loan Tweaks to Help Commercial Borrowers   The commercial real estate crunch is easing somewhat with the help of banks trying to prevent defaults. Many of those loans are expiring, and refinancing has become a problem because of high interest rates. Real estate analysts say that banks are dealing with the situation by offering loan extensions and modifications, selling derivatives to fix interest costs, and offering subsidized loans to investors to purchase defaulted loans.   Analysts say that lenders are hoping that this will help tide things over until properties become more profitable and refinancing can take place with lower interest rates. And the data reportedly shows that it's working.   As an example, a U.S. News article says that about $2.1 billion in CMBS office loans matured in May. That's almost double the total amount that matured from January through April. A Moody's report says that a little more than a third of those loans were modified or extended.   The default rate is currently at about 4% which is well below the projected 10%. Analysts are however, predicting that it could hit 6% by the end of the year.   Best State Economies List Florida, Texas at the Top!   This last story is about the top 10 U.S. state economies, and the two top ranking states are at the top of my list for investors. According to CNBC's America's Top States for Business study, Florida leads the nation with a score of 340 out of a possible 360 points! GDP growth last year was 4%; job growth was 4.9%; and the debt rating and outlook was AAA according to Moody's.   Texas was in the second position with a score of 324; a 2022 GDP of 3.4%; job growth at 4.8%; and a AAA debt rating and outlook.   That's it for today. If you'd like to know about the other states on the list, check for a link to the article at newsforinvestors.com. You can also join RealWealth, if you haven't already, for more data on various real estate markets, and how you can find rental properties that make sense for your long-term financial independence. And before you go, please remember to subscribe to this podcast, and leave a review!   Thanks for listening. I'm Kathy Fettke.   Links:   1 - https://www.marketwatch.com/story/u-s-inflation-slows-again-cpi-shows-as-fed-weighs-another-rate-hike-3c1628c5?mod=economic-report   2 - https://www.marketwatch.com/story/u-s-wholesale-inflation-slows-to-a-crawl-ppi-shows-83855be2?mod=economic-report   3 - https://www.marketwatch.com/story/feds-daly-says-it-is-too-early-to-declare-victory-on-inflation-ec25249a?mod=federal-reserve   4 - https://www.marketwatch.com/story/feds-waller-unimpressed-by-inflation-data-calls-for-two-more-rate-hikes-this-year-9946b29e?mod=economy-politics   5 - https://www.marketwatch.com/story/jobless-claims-drop-to-237-000-and-point-to-still-strong-u-s-labor-market-f4826b74?mod=economic-report   6 - https://www.freddiemac.com/pmms   7 - https://www.mortgagenewsdaily.com/markets/mortgage-rates-07122023   8 - https://www.consumerfinance.gov/about-us/newsroom/bank-of-america-for-illegally-charging-junk-fees-withholding-credit-card-rewards-opening-fake-accounts/   9 - https://money.usnews.com/investing/news/articles/2023-07-12/analysis-banks-step-up-u-s-property-loan-tweaks-to-limit-defaults   10 - https://www.cnbc.com/2023/07/13/these-10-states-are-running-americas-best-economies-for-residents.html

Wall Street posts its fourth-straight day in the green while Asian equities are on track for the best week of the year after U.S. producer prices come in muted for June. However, San Francisco Fed President Mary Daly tells CNBC the fight against inflation is not over yet. Earnings season is set to kick off in the U.S. with the larger banks are braced for a surge in loan losses as high rates affect borrowers. In crypto news, a U.S. judge rules that a Ripple token does not represent a security which offers a potential supervisory escape route for other altcoins. The FTC's Chair Lina Khan is grilled on Capitol Hill as the regulatory body fails in another attempt to block Microsoft's $69bn takeover of Activision Blizzard. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

San Francisco Fed President Mary Daly says “we don't expect to continue to raise rates every meeting.” Her remarks follow this morning's cooler-than-expected CPI print, which boosted stock prices. CNBC received exclusive reaction to the CPI print and more from legendary investor Warren Buffett. We'll break down his best comments, including the ones you may have missed.Plus, our Buffett “watcher” will reveal which of the Oracle's stock picks he likes best, and where he sees the most opportunity next.

The RenMac team discusses Neil's bourbon trail trip, Trump indictment politics, the Fed's failure to prevent the collapse of SVB, where is San Francisco Fed President Mary Daly, why Powell's next move is still more likely a hike after skipping May, the importance of housing, tech breaking out, why seasonality and sentiment are still trending in the right direction.

On today's episode, NLW looks at the latest communiques from Federal Reserve officials, including comments by Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly, as well as a speech on Tuesday by Federal Reserve Chair Jerome Powell. The message is “higher for longer” even if the markets don't agree.  Enjoying this content?   SUBSCRIBE to the Podcast Apple:  https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M=   Join the discussion: https://discord.gg/VrKRrfKCz8   Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW   - Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit https://consensus.coindesk.com/register/?utm_campaign=thebreakdown&utm_content=c23&utm_medium=marketing&utm_source=podcast&utm_term=organic&utm_id=c23 - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Morrison1977/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Fed Governors Bostic and Daly both affirmed the position in comments this week.On today's episode, NLW looks at the latest communiques from Federal Reserve officials, including comments by Atlanta Fed President Raphael Bostic and San Francisco Fed President Mary Daly, as well as a speech on Tuesday by Federal Reserve Chair Jerome Powell. The message is “higher for longer” even if the markets don't agree. -Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26–28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.-“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Morrison1977/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Comments from US Federal Reserve officials unnerved investors worried that the central bank's campaign to counter inflation would push the US economy into a recession. New York Fed President John Williams said, "we're going to have to do what's necessary" to get inflation back to target. San Francisco Fed President Mary Daly said it is "reasonable" to believe that once the Fed's policy rates reached their peak they could stay there into 2024. The quarterly triple witching expiry of equity derivatives amplified market moves. At the close of trade, the Dow Jones index fell by 282 points or 0.9%. The S&P 500 index lost 1.1%, with the Nasdaq index down by 105 points or 1%. For the week, the Dow lost 1.7%, the S&P fell 2.1% and the Nasdaq shed 2.7%.    Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.

The yield on the 10-year U.S. Treasury note spiked and equity indexes sagged Thursday, as St. Louis Federal Reserve President James Bullard said the Federal Reserve still has a lot of work to do before it brings inflation under control. That follows San Francisco Fed President Mary Daly's remark on Wednesday that a pause in rate hikes was “off the table.” Meanwhile, the United Nations has brokered a deal that will get Ukrainian grain transiting the Black Sea safely, easing pressure on global food prices, and China's COVID policy remains as opaque as ever. Andreas Steno Larsen welcomes Tony Greer, the founder of TG Macro and the editor of the Morning Navigator newsletter, to interpret recent Fedspeak and to talk about what's happening in commodities markets. We also hear from Juliette Declercq about how the Federal Reserve can navigate a soft landing and why she's focused on U.S. equities. Watch the full conversation between Juliette Declercq and Raoul Pal here: https://rvtv.io/3AoHkSt. Learn more about your ad choices. Visit megaphone.fm/adchoices

Carl Quintanilla, Morgan Brennan and Mike Santoli discussed what to make of stock markets pulling back after their biggest two-day gains in more than two years. Energy in the spotlight: A report from on the ground at the OPEC+ meeting in Vienna, Austria as oil ministers discuss cutting output. What are energy CEOs saying about it? Also in focus: The future for Twitter now that Elon Musk has changed course and wants to go forward with the $44 billion takeover deal, San Francisco Fed President Mary Daly on "toxic" inflation, Amazon's hiring freeze, Morgan Stanley's Adam Jonas' note on Ford and General Motors, and what L3 Harris' CEO told Morgan about OPEC+ and its potential impact on the defense industry.

Bloomberg News International Economics and Policy Correspondent Michael McKee discusses his interview with San Francisco Fed President Mary Daly, who sees a high bar for slowing the central bank's 75 basis-point pace of interest-rate increases. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Big Tech Team Leader Sarah Frier share the details of Sarah's story Elon Musk's Twitter Reversal Might Not Be the End of the Story. Bloomberg Technology Executive Editor Tom Giles explains why Musk's Everything App ‘X' sounds a lot like China's WeChat. And we Drive to the Close Aaron Kennon, CEO at Clear Harbor Asset Management.Hosts: Carol Massar and Ed Ludlow. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.

Bloomberg News International Economics and Policy Correspondent Michael McKee discusses his interview with San Francisco Fed President Mary Daly, who sees a high bar for slowing the central bank's 75 basis-point pace of interest-rate increases. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Big Tech Team Leader Sarah Frier share the details of Sarah's story Elon Musk's Twitter Reversal Might Not Be the End of the Story. Bloomberg Technology Executive Editor Tom Giles explains why Musk's Everything App ‘X' sounds a lot like China's WeChat. And we Drive to the Close Aaron Kennon, CEO at Clear Harbor Asset Management.Hosts: Carol Massar and Ed Ludlow. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.

Wall Street closes in the red for a second day running and Treasury yields rise following hawkish comments from San Francisco Fed President Mary Daly, who says that the battle to rein in U.S. inflation is far from over. Tensions are high in East Asia after U.S. House Speaker Nancy Pelosi touches down in Taipei to pledge close support for Taiwan, irking the CCP administration. Pelosi is the highest ranking U.S. official to visit the island in 25 years. We speak to Société Générale CEO, Frédéric Oudéa, who has seen the lender's Q2 revenues surge by 13 per cent. Also, Chinese July PMI storms back expanding at its fastest pace for more than a year as Covid restrictions were finally lifted.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Kia ora,Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the International edition from Interest.co.nz.Today we lead with news we are probably facing new supply-chain stresses as the fallout over the Pelosi visit to Taiwan echoes over coming months.But first, after declining for eight of the past 12 weeks, and four of the past five weeks, American mortgage applications actually rose last week. It wasn't a big rise, but it was unusual, even in the whole 2022 context. The recent yield declines followed through to lower mortgage interest rates, which undoubtedly helped, especially as higher rates are anticipated for the rest of the yearAlso rising, and unexpectedly strongly, was their services sector activity in July. The widely-watched ISM measure was particularly upbeat with strong gains in new orders and activity levels while the price pressure eased noticeably. They also noted that these businesses are struggling to replenish inventories, and that bodes very well for the factory sector in coming months. The internationally benchmarked Markit PSI was however as negative as the ISM one was positive, so there is a good opportunity to reinforce confirmation bias here.Meanwhile, American factory order growth beat forecasts in June to be +15% higher than year-ago levels, and that makes this data elevated for four of the past six months, impressing markets.US carmaker Ford said is North American sales jumped by more than a third in July from a weak year-ago level. This was driven by a huge leap in electric car sales, and a +70% jump in SUV sales.The US logistics management index (LMI) is now reporting that freight prices are falling in July - not by much, but it is the first time that has happened since the start of the pandemic. Other components of the LMI are going in buyers favour as well, although warehouse capacity is still shrinking.In the background, the Fed is almost sure to raise rates by another +50 bps at its next meeting in September. It would be 'reasonable' for the Federal Reserve to raise interest rates by that level if the US economy evolves as expected, San Francisco Fed President Mary Daly said, as she signaled policymakers are united in reducing decades-high inflation. Meanwhile, the cost of borrowing as measured by 3-month LIBOR just hit its highest point since 2008. Fed speakers are making markets into believers, despite some earlier scepticism.In China, the private Caixin Services PMI rose in July from June to a good moderate expansion, pointing to the second straight month of growth. This was a better result than the official version and is the fastest pace of expansion in their service sector in 16 months. It comes after an easing of some lockdown measures with new orders rising the most since October 2021. However, new export orders fell for the seventh straight month, and employment fell modestly again amid a slight decline in the backlog of work.China's car sales are recovering with good sales gains in July.But the Chinese government still finds it necessary to inject ¥320 bln (NZ$75 bln) in public funds into small and midsized banks in a bid to help regional lenders reeling from their economic slowdown (not to mention some well-publicised cases of fraud).The EU reported retail sales volumes for June, and these were sharply negative. Their rise in producer prices extended into June too, but apart from energy cost, there is a sense non0energy costs are losing some upward momentum there.In international trade, June air cargo data basically went sideways, and putting a dampener on earlier optimism. The easing of restrictions in China and reduced disruption in global supply chains is likely to be good news for world trade and air cargo volumes in coming months. However, the impact of high inflation and rising interest rates will work against this expected recovery. In June, Europe was sharply negative, the US sharply positive, and the Asia/Pacific region quite lack-luster.China's attempt to blockage Taiwan in retaliation to the Pelosi visit will also have a severe, even if temporary impact on Asia/Pacific air and sea cargo activity, messing with supply chains again in a significant way that will be felt globally.The UST 10yr yield starts today at 2.73% and unchanged from this time yesterday. The price of gold opens today at US$1763/oz in New York which is down -US$6/oz from this time yesterday.And oil prices start down -US$3 at just over US$91/bbl in the US, while the international Brent price is now just over US$97/bbl.The Kiwi dollar opened today little-changed from this time yesterday to 62.6 USc. Against the Australian dollar we are marginally softer at 90.2 AUc. Against the euro we are unchanged at 61.6 euro cents. That all means our TWI-5 starts today at just under 71.1.The bitcoin price has moved up from this time yesterday, up +1.3% to US$23,484. Volatility over the past 24 hours has been moderate at just over +/-2.0%.You can find links to the articles mentioned today in our show notes.And get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston and we'll do this again tomorrow.

Despite coming off the Fed's second 75 bps rate hike in a row, and just 3 days ahead of the July jobs report, San Francisco Fed President Mary Daly said there's still “a long way to go” in the fight against inflation. We'll explore what she says needs to happen. Plus, with inflation at 40-year highs, consumers are searching for any way to save right now. We'll speak to the CEO of Misfits Market – which offers surplus produce and groceries at a discount – about the trends he's seeing in the marketplace. And, we'll give you the action, the story and the trade in AMD, Starbucks and PayPal ahead of results on deck in Earnings Exchange.

Our anchors begin today's show with CNBC's Steve Liesman covering new data showing inflation pushing up household debt, and our Julia Boorstin breaks down social media platform Pinterest's latest results. Then, Wells Fargo Chairman of Global Internet Investment Banking Bob Peck offers his outlook for the broader markets, and Onsemi CEO Hassane El-Khoury joins after the chipmaker exceeded expectations in Q2. Next, ZoomInfo Founder and CEO Henry Schuck shares his perspective on the software company's recent earnings beat, and our Jon Fortt recaps highlights from his interview with San Francisco Fed President Mary Daly. Later, Global Payments CEO Jeff Sloan discusses his plans to expand the fintech firm's reach with a new acquisition.

In this morning's The Breakfast Brief, we discuss how markets are responding to Fed Governor Lael Brainard and San Francisco Fed President Mary Daly's comments on the central bank's commitment to fighting inflation through higher interest rates, the coordination ofa fresh round of sanctions by the U.S., European Union and Group of Seven on Russia, Shanghai's extension of its restrictions amid a new surge in Covid cases.  See omnystudio.com/listener for privacy information.

The Real Estate News Brief - Week Ending March 26, 2022Fed's Next Rate Hike, Mortgage Rate Surge, Pet Who Sell HomesIn this Real Estate News Brief for the week ending March 26th, 2022... the Fed's next rate hike, the latest surge in mortgage rates, and why pets might help sell homes.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from this past week. The Federal Reserve is ramping up for bigger rate hikes. Fed policymakers are saying that inflation is much too high, and that more aggressive action may be needed, including a 50 basis point rate hike in May. San Francisco Fed President Mary Daly said at an event last week: “With the labor market so strong, inflation, inflation, inflation is at the top of everyone's mind.” Fed Chief Jerome Powell also said the central bank may start reducing its $9 trillion balance sheet in May. The Fed's portfolio mushroomed in size with the purchase of Treasuries and mortgage-backed securities during the pandemic. (1) Unemployment applications have hit their lowest level since 1969. They were 28,000 lower last week than the week before for a total of just 187,000 initial claims. The number of people already getting benefits was also much lower. It was 67,000 lower for a total of 1.35 million claims. As reported by MarketWatch, that's the lowest level since the 1970's. (2)New home sales were down in February, despite higher inventory numbers. They were down 2% to an annual rate of 772,000. If you compare this February to a year ago, sales were down 6% while the supply of new homes increased to 6.3 months. That's the highest since 2008. So what's happening? Prices are getting too high for many first-time buyers. The average sales price for a new home that was sold in February was $511,000 while the median was $400,600. Realtor.com's chief economist Danielle Hale says: “A new home is not an option for many first-time homebuyers even before the impact of higher mortgage rates is considered.” (3) Pending home sales were also down in February. They were down 4.1% according to the National Association of Realtors thanks to lack of affordable inventory and rising mortgage rates. Realtor.com economist researcher, George Ratiu, says: “With mortgage rates moving toward 5%, we are seeing early signs of a shift in housing fundamentals, as many people looking for a home have hit a ceiling on their ability to afford one.” (4)Consumers don't see their economic situation improving much in the next year. The University of Michigan consumer sentiment index fell slightly to 59.4 which is close to an 11-year low. Americans are worried about Inflation and the war in Ukraine, although they are feeling confident about finding a job. (5)Mortgage RatesMortgage rates surged higher this last week. Freddie Mac says the average 30-year fixed-rate mortgage rose 26 basis points, to 4.42%. The 15-year was up 24 basis points to 3.63%. (6)In other news making headlines...Rents Taking Larger Share of PaychecksRenters are spending more of their paychecks on rent. According to the most recent rent report by realtor.com, Americans are generally spending 30% of their paychecks on rent, and in 14 out of 50 metros tracked, they are spending more. Realtor.com's chief economist, Danielle Hale says: “The general rule of thumb is to keep monthly housing costs to less than 30% of your income.” Anything above that, economists considered a debt-burden for households. (7)High rents are motivating some renters to become home-buyers, but high home prices and rising mortgage rates along with a lack of inventory is forcing many to keep renting.Homebuyers On the MoveThe number of people moving from one state to another is hitting a new high. Redfin.com says that 32.3% of its users planned to relocate during the first two months of the year. That's up from 26% in 2019. The data was pulled from a sample of about 2 million Redfin.com users who searched for homes in 111 metros, and looked at a minimum of 10 homes in specific areas. (8)Redfin says there are more people leaving the more expensive coastal areas for more affordable inland areas. The research also shows that people are looking to move to warmer locations. Miami, Phoenix, and Tampa have been attracting the most attention. Pets Help Sellers Sell HomesIf you are selling a home, you don't have to hide your pet. A new study from Quicken Loans shows that buyers are more than open to buying a home that has had pet living there. (9) 79% of the respondents said that seeing signs of a pet won't discourage them. Almost 20% said that it might even increase their desire to buy a particular home, so long as there aren't any visible signs of pet damage. Only about 1 in 10 said they might regret buying a home with a barking dog next door. That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!You can also join RealWealth for free at newsforinvestors.com. As a member, you have access to the Investor Portal where you can view sample property pro-formas and connect with our network of resources, including experienced investment counselors, property teams, lenders, 1031 exchange facilitators, attorneys, CPAs and more. Thanks for listening. I'm Kathy Fettke...Show Notes link: https://www.newsforinvestors.comJoin link: https://join.realwealth.com/?utm_content=Real%20Estate%20News%20Podcast&utm_campaign=Join%20for%20Free&utm_term=Description%20Text%20LinkSubscribe link: https://podcasts.apple.com/us/podcast/real-estate-news-real-estate-investing-podcast/id1079952715 Links:1 - https://www.reuters.com/article/usa-fed-mester/fed-policymakers-march-toward-bigger-rate-hike-in-may-iduskcn2lk1ik2 - https://www.marketwatch.com/story/u-s-jobless-claims-fall-to-lowest-level-since-1969-11648125485?mod=bnbh_mwarticle3 - https://www.marketwatch.com/story/new-home-sales-slide-even-though-the-inventory-of-properties-for-sale-has-hit-the-highest-level-since-2008-11648044987?mod=economy-politics4 - https://www.marketwatch.com/story/pending-home-sales-decline-for-fourth-consecutive-month-underscoring-down-shift-in-housing-market-11648217352?mod=economic-report5 - https://www.marketwatch.com/story/high-u-s-inflation-leaves-consumer-sentiment-stuck-at-almost-11-year-low-11648217381?mod=economy-politics6 - https://www.freddiemac.com/pmms7 - https://magazine.realtor/daily-news/2022/03/23/rents-taking-a-bigger-bite-out-of-pay8 - https://magazine.realtor/daily-news/2022/03/24/buyers-moving-states-in-record-numbers9 - https://magazine.realtor/daily-news/2022/03/23/pets-may-attract-buyers-to-homes

S&P Futures had been trading lower all morning, but have recently turned positive trading indicating a higher opening today. The U.S agrees to a distribution deal with the E.U. for natural gas. Oil futures are lower by more than 2% and the Fed continues to suggest that they will be able to hike interest rates without causing a recession. Data for Friday includes the University of Michigan's gauge of consumer sentiment for March and pending home sales for February, both due at 10 a.m. Also, investors will hear from New York Fed President John Williams, San Francisco Fed President Mary Daly, Richmond Fed President Tom Barkin and Fed Gov. Christopher Waller.

In another sign energy is now a second front in the Eastern European war, President Vladimir Putin has said he wants “unfriendly countries” to pay for Russian oil and gas in rubles. Putin's move follows reports that European Union nations are considering joining the U.S. boycott of Russian oil and in the aftermath of a weekend attack on Saudi production facilities. Brent crude, the European benchmark, has surged again, rising nearly 5% Wednesday to $121. Energy costs will surely have the attention of an inflation-obsessed Federal Reserve. Cleveland Fed President Loretta Meester said she supports front-loading rate hikes, while San Francisco Fed President Mary Daly said she sees room for a 50-basis-point hike at the next Federal Open Market Committee meeting in May. That's despite the fact that market rates are already negatively impacting the housing market, with new home sales down for a second straight month in February and mortgage refinance applications down 14% week over week. Darius Dale, founder and CEO of 42 Macro, joins Maggie Lake to talk about energy, inflation, and the Fed. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/36C4JE6 Learn more about your ad choices. Visit megaphone.fm/adchoices

We're excited to share a special episode in partnership with our colleagues in the San Francisco Fed's Community Development group. Our teams recently collaborated on a special issue of the Community Development Innovation Review in partnership with the Aspen Institute's Financial Security program, which examined the potential ways financial technology can promote racial equity in the financial system. Today's episode is a corollary to our recently concluded Financial Inclusion & Beyond series where we explored what we can learn from efforts around the world to improve financial inclusion and wellbeing. The event included a fireside chat with San Francisco Fed President Mary Daly and Ida Rademacher, Executive Director of the Aspen Institute's Financial Security Program, and a panel discussion with several journal contributors moderated by Rocio Sanchez-Moyano, a senior researcher in the Community Development  group. Some take-aways from the live event include: The current financial system does not serve everyone equally. The inability to access and use financial services impedes people's full participation in the economy. Communities of color and low-income communities are disproportionately left out of the financial system. Fintech provides an opportunity to reach those excluded by the financial system. Fintech shows promise in furthering financial inclusion. Improvements in transaction processing, digital identity, and use of real-time and alternative data for risk assessment could offer significant improvements to individuals currently left out of the financial system. Fintech solutions designed based on a nuanced understanding of lived experiences of those they serve have greater impact. Many consumers come up with work-arounds or adaptations to work with existing services that do not meet their needs. Efforts to increase diversity in the fintech ecosystem (from founders to staff, venture capital, and regulators) and greater prioritization of learning from the experiences and challenges that users from low-income communities and communities of color face can enable the creation of higher impact fintech solutions. Related Content Community Development Innovation Review: Fintech, Racial Equity, and an Inclusive Financial System Aspen Institute Financial Security Program The views expressed are not necessarily those of the Federal Reserve Bank of San Francisco or of the Federal Reserve System.

Mental health professionals have had virtual tools for decades, but the pandemic catalyzed the field to offer more telehealth services. It’s a change that experts say is here to stay and one that makes care more accessible. The shift has also incited an investment boom in mental health startups and apps that topped $1 billion last year. Also on today’s show: Workers can be choosy in the current job market; why this winter’s gas bill might give you sticker shock; and a chat with San Francisco Fed President Mary Daly.

Mental health professionals have had virtual tools for decades, but the pandemic catalyzed the field to offer more telehealth services. It’s a change that experts say is here to stay and one that makes care more accessible. The shift has also incited an investment boom in mental health startups and apps that topped $1 billion last year. Also on today’s show: Workers can be choosy in the current job market; why this winter’s gas bill might give you sticker shock; and a chat with San Francisco Fed President Mary Daly.

Our anchors start off the morning on the battle between fintech and financials in light of bank earnings this week. The Production Board CEO David Friedberg joins to share his take on digital banking and the future of fintech. Then, CNBC's Steve Liesman is here to interview San Francisco Fed President Mary Daly on inflation, Fed policy and much more. Later, Washington Post Tech Reporter Will Oremus joins live outside the courtroom where Elon Musk is defending Tesla's 2016 acquisition of SolarCity. Also, CNBC's Julia Boorstin is here with the story on the Female Founders Fund closing its third fund at $57 million. We also have CNBC's Eamon Javers with details on the Biden Administration's newest cybersecurity team members. Then, Arctic Wolf CEO Brian NeSmith joins to further discuss cyber threats and his cybersecurity company's latest $150 million funding round.

Fed officials move to soothe market concerns ahead of key inflation data this week. San Francisco Fed President Mary Daly tells CNBC to look beyond the short-term metrics. The S&P 500 erases gains to end the day in the red as the market rally stalls, dragged down by weakness in the energy sector. The White House and the Kremlin announce Presidents Biden and Putin will hold face-to-face talks in Geneva in mid-June, as European leaders call for a "Russian reset" after the Belarus flight incident. And US Secretary of State Antony Blinken reiterates America's 'ironclad' commitment to Israeli security, and vows to repair ties with the Palestinians and help rebuild Gaza.