The Federal Reserve will make no change to its benchmark interest rate, the central bank announced Thursday at the conclusion of its two-day monetary policymaking meeting.
In response to reporters’ questions in a Thursday press conference, Powell praised lawmakers for their initial fiscal response, and again stressed the need for Congress to take further steps.Read more
A split reality is emerging for U.S. shale drillers: Those that primarily pump oil are still struggling to survive, while those that produce natural gas are slowly seeing signs of recovery.
Oil-focused fracking companies are under extreme financial strain, as renewed concerns about the coronavirus pandemic are weighing down crude prices. But gas-focused drillers are getting a long-awaited reprieve. Natural-gas prices are climbing ahead of winter, and are less sensitive to lockdowns that erode demand for transportation fuels.Read more
The close and inconclusive U.S. election has scuppered some short-term trades premised on a clear Joe Biden sweep, but money managers say they are sticking to bets on plentiful stimulus, a Chinese rebound and a green boom, regardless of who triumphs.Read more
The U.S. Commodity Futures Trading Commission (CFTC) issued a report last month on the impact of climate change that landed like a thunderbolt.
The bipartisan report, adopted by a subcommittee of the Commission’s Market Risk Advisory Committee, declared climate change to be a major financial risk to the U.S. economy and recommended a package of actions financial regulators should take to address this risk, including putting a price on carbon.Read more