Markets

Ken Griffin says Fed has not done enough, must continue on its path to reset inflation expectations

Ken Griffin, Citadel’s founder and CEO, believes the Federal Reserve has more work to do to bring down inflation even after a series of big rate hikes. “We should continue on the path that we’re on to ensure that we reanchor inflation expectations,” Griffin said at CNBC’s Delivering Alpha Investor Summit in New York City …

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El-Erian says Bank of England’s latest rescue move shows we are still in central bank ‘la-la land’

The Bank of England’s Wednesday reversal where it announced it would start buying bonds to ease market stress shows the bind central banks find themselves in today, and the markets may end up with a rougher landing anyway, Mohamed El-Erian said Wednesday. “The longer you stay in this la-la land of QE (quantitative easing), floored …

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Stanley Druckenmiller sees ‘hard landing’ in 2023 with a possible deeper recession than many expect

Billionaire investor Stanley Druckenmiller believes the Federal Reserve’s attempt to quickly unwind the excesses it helped build up for a decade with easy monetary policy will not end well for the US economy. “Our central case is a hard landing by the end of ’23,” Druckenmiller said at CNBC’s Delivering Alpha Investor Summit in New …

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Morgan Stanley sees dollar surge setting the stage for ‘something to break’

The US dollar’s strength is setting the stage for a crisis, as well as a looming bottom in the stock market, according to Morgan Stanley. With the greenback hitting 20-year highs against its foreign competitors, equity markets that have relied on cheap currency have tumbled. Fears are rising that the moves in the dollar will …

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El-Erian says the Fed has made a ‘policy mistake of historical proportions’

Investors are paying the paying the price for the Federal Reserve’s policy mistakes, according to Allianz economic advisor Mohamed El-Erian. “This is a two-part policy mistake of historical proportions,” the former CEO of bond giant Pimco told CNBC’s “Squawk Box” in a Monday interview. “Part No. 1 was being seduced by ‘transitory’ and doing nothing,” …

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New minimum tax could hit Berkshire Hathaway and Amazon hardest, study shows

Berkshire Hathaway Chairman Warren Buffett seen at the annual Berkshire shareholder shopping day in Omaha, Nebraska, US, May 3, 2019. scott morgan | Reuters Researchers applied the Inflation Reduction Act’s new 15% corporate minimum tax onto 2021 company earnings and found that the burden would only be felt by about 78 companies, with Berkshire Hathaway …

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Britain’s lurch to Reaganomics gets thumbs down from markets

Truss has now put the country on an economic road completely at odds with most, if not all, major global economies. Hannah McKay | Reuters LONDON — New UK Prime Minister Liz Truss may have talked big on “trickle-down economics” during her campaign trail this summer, but no-one could have predicted the swathe of tax …

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Healthcare Learned a Lot From Covid. 12 Ways to Invest Now.

Thanks to vaccines, treatments, and preventive measures, the Covid crisis has eased, even if the pernicious virus persists. The pandemic’s evolution gives healthcare companies a chance to focus on other issues, including drug-patent expirations, pricing pressures, regulatory changes, and deal making. For investors, a bear market in stocks adds another wrinkle—and an opportunity to snap …

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