Banks Borrow Unsecured Cash at Record Clip While Deposits Flee
MarketsDeposits at U.S. lenders fell in two consecutive quarters last year for the first time in over a decade Source link
Short on Cash, More Americans Tap 401(k) Savings for Emergencies: WSJ
Plan advisers say a rise in hardship withdrawals from retirement accounts is driven by financial strain and looser regulations. Source link
The Fed Fights the Fed: WSJ
Policy makers want to convince investors that smaller rate increases won’t be a prelude to rate cuts. Federal Reserve Chair Jerome Powell said Wednesday the central bank will raise interest rates a quarter-percentage-point. Powell said more increases will likely be needed to continue lowering inflation. Source link
Black Swan Manager Preps for Financial ‘Mega-Tinderbox-Timebomb’
MarketsHeard on the StreetAfter an epic 15-year run, hedge fund Universa’s Mark Spitznagel says the financial system is poised for a crisis—eventually Source link
The U.S. Consumer Is Starting to Freak Out
Listen to article(2 minutes)The engine of the U.S. economy—consumer spending—is starting to sputter.Retail purchases have fallen in three of the past four months. Spending on services, including rent, haircuts and the bulk of bills, was flat in December, after adjusting for inflation, the worst monthly reading in nearly a year. Sales of existing homes in […]
Banks Brace for More Consumers to Fall Behind on Their Loans
Delinquencies are rising, in some cases surpassing prepandemic levels, prompting banks to add to their rainy-day funds. Source link
Fed Debates Whether Wages or Low Unemployment Will Drive Inflation
Fed officials face a fork in the road when forecasting inflation: Focus on moderating wage and price trends or persistently low unemployment? Source link
The Jobless Rate Is at a Half-Century Low. In These States, It’s Even Lower.
EconomyU.S. EconomyUtah and the Dakotas have historically low jobless rates; signs of broader labor-market cooling emerge Source link
What CEOs Are Saying: ‘The Consumer Is Under Pressure’: WSJ
Here’s what leaders from Nasdaq, Microsoft, Tesla and elsewhere said about the economy, inflation and other topics this week. Source link
Corporate Layoffs Spread Beyond High-Growth Tech Giants: WSJ
Dow, IBM and SAP say they will lay off thousands of workers as belt-tightening becomes the new business priority. Source link