Federal Reserve Bank

Watch Live: Janet Yellen Addresses Community Bankers In St.Louis

Since Janet Yellen last spoke (shifting hawkish), the dollar and bond yields have surged (as have the odds of a Dec rate-hike). It is unclear whether today's opening remarks at the fifth annual Community Banking in the 21st Century conference at the Federal Reserve Bank of St. Louis, will offer any new insights on monetary policy direction but given President Trump's 'shortlist', it may well be among her last public appearances as Fed Chair.

Three Straight Weeks Of This Can't Be Ignored

"...potentially as an escalating warning about systemic liquidity, collateral and otherwise...After all, if something unknown is clogging, removing, or just plain disrupting collateral flow it’s not likely to be an isolated case; and certainly not for three weeks running..."

Final Q2 GDP Comes In At 3.1%, Higher Than Expected

With just two days left until the end of the third quarter, what happened in Q2 will hardly provoke a market reaction, which is why when the BEA announced that the final Q2 GDP print was revised from 3.0% to 3.1%, it hardly inspired a move in risk assets, even though it did come in fractionally better than the 3.0% expected.

Government By Goldman

"...now Cohn’s in charge of the economy and talking about eliminating financial reform and basically putting the country back to where it was in 2005, as if 2008 didn’t happen. I’ve started the countdown clock to the next financial crash, which will make the last one look mild."

Goldman Interviews Former Head Of The Plunge Protection Team

"Purchasing a wider set of assets—as do some other central banks—might enable the Fed to have a larger effect on financial conditions and promote faster recoveries. But it would also involve putting more taxpayer money at risk and having an imprint on a wider set of risk premiums in the market."

World's Most Powerful Bank Issues As Major Warning

"Little by little, a few prominent voices in finance have started to express concerns about the state of financial markets...In fairness, no one has a crystal ball, not even the CEO of Goldman Sachs. But if these guys are telling the world that the market is overheated, you can probably imagine they’ve already started selling."

Here's How Much Your Credit Score Is About To Crash If You're In Hurricane Irma's Path

If you count yourself among the unlucky residents of Southern Florida where Hurricane Irma looks likely to make her continental U.S. landfall, you may want to take notice of a new study just published by Kelly Edmiston of the Federal Reserve Bank of Kansas City which details the devastating toll that hurricanes can take on your hard-earned credit score. 

Yes, You Should Be Concerned With Consumer Debt

The mirage of consumer wealth has been a function of surging debt levels. “Wealth” is not borrowed, but “saved,” and this is a lesson that too few individuals have learned. Until the deleveraging cycle is allowed to occur, and household balance sheets return to more sustainable levels, the attainment of stronger, and more importantly, self-sustaining economic growth could be far more elusive than currently imagined.