Market optimism over the potential for interest rate cuts next year is dangerously overdone, according to former FDIC Chair Sheila Bair.Bair, who ran the FDIC during the 2008 financial crisis, suggested Federal Reserve Chair Jerome Powell was irresponsibly dovish at last week's policy meeting by creating "irrational exuberance" among investors."The...
Category: Finance
Michael Milken says the Fed won’t move too early and risk massive inflation like the 1970s
Michael Milken attends Prostate Cancer Foundation's Dinner At Daniel on November 19, 2019 at Daniel in New York City.Paul Bruinooge | Patrick McMullan | Getty ImagesFamed investor Michael Milken expects the Federal Reserve will move slowly on monetary policy — if history is any guide.In fact, the Milken Institute founder...
EU agrees to landmark AI rules as governments aim to regulate products like ChatGPT
A photo taken on November 23, 2023 shows the logo of the ChatGPT application developed by US artificial intelligence research organization OpenAI on a smartphone screen (left) and the letters AI on a laptop screen in Frankfurt am Main, western Germany.Kirill Kudryavtsev | Afp | Getty ImagesThe European Union on...
Fed is ‘disconnected’ from reality, must cut rates 5 times next year, portfolio manager says
Chris Wattie | ReutersThe Federal Reserve needs to cut interest rates at least five times next year to avoid tipping the U.S. economy into a recession, according to portfolio manager Paul Gambles.Gambles, co-founder and managing partner at MBMG Group, told CNBC's "Squawk Box Asia" the Fed was behind the curve on...
Zero-day commodity options have now entered the ETF space
Investors can now trade commodities and a Treasury with a popular short-term options strategy.The Nasdaq recently launched five zero-day options-based exchange-traded funds: United States Oil Fund (USO), United States Natural Gas Fund (UNG), SPDR Gold Shares (GLD), iShares Silver Trust (SLV) and iShares 20+ year Treasury Bond ETF (TLT)."Zero-day to...