Former Federal Reserve Bank of St. Louis President James Bullard said he expects the pace of US monetary policy easing to be slow, although the latest inflation print sparks hope for a September interest-rate cut.
The pace of cuts will be slow because there is no sense of urgency in the real economy, Bullard said Friday in virtual remarks at a UBS Group AG event in Singapore. Still, the latest inflation report has brought September back into play, he added.
Although Fed officials’ projections showed only one cut in 2024, the market is pricing in two quarter-point rate reductions this year, in November and December. Bullard recently changed his view to two rate cuts from the three he had envisioned in April as inflation moved toward the central bank’s target and the economy remained resilient.
Bullard, who is currently dean of Purdue University’s business school, said the US growth outlook remains robust, even as he ruled out the chance of a hike later this year.
“If they want hawkish policy, they can keep rates at where they are. They can delay easing,” he said, projecting US 10-year Treasury yields to stay in the mid-4% range through 2025.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
