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Everything You Need to Know About Money is Now at your Fingertips
I've created a library of training material to teach you how money works so that you can make more money and protect it.
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News
The Fed Holds the Fed Funds Rate Steady—Because it Doesn't Know What Else To Do
he Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday left the target policy interest rate (the federal funds rate) unchanged at 5.5 percent. This "pause" in the target rate suggests the FOMC believes it has raised the target rate high enough to rein in price inflation which has run well above the Fed's arbitrary two-percent inflation target since mid-2021. Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have slowed in recent months but remain strong, and the unemployment rate has remained low.
U.S. Treasury yields: investors assess state of the economy
The benchmark 10-year Treasury yield rose Wednesday, reaching its highest level in more than 15 years, as traders weighed fears of persistent inflation and tighter monetary policy for longer than expected. The 10-year Treasury yield gained 5 basis points to 4.612%. It had risen as high as 4.566% on Tuesday, its highest level since 2007. The 2-year Treasury yield also added 6 basis points to 5.139%. Yields and prices have an inverted relationship and one basis point equals 0.01%.
JPMorgan ‘Options Whale’ Worries Resurface as Stocks Extend Drop
To Wall Street worrywarts, a large options position owned by a JPMorgan Chase & Co. equity fund has the potential to add fuel to this sweeping US stock selloff. The $16 billion JPMorgan Hedged Equity Fund (JHEQX), a long-stock product that uses derivatives to protect its portfolio from declines and volatility, holds tens of thousands of protective put contracts expiring Friday with a strike price not far below the current level of the S&P 500.
China’s Gold Prices Surge, Hitting a Record Against the World
China’s suddenly full of gold bugs. The market for bullion in China has surged this month, at times commanding a record premium over international prices of more than $100 an ounce, compared with an average over the past decade of less than $6. On Wednesday, an ounce of gold in Shanghai cost $2,007, about 6% higher than the price in London or New York, according to calculations by Bloomberg. It’s a flight to safety familiar to students of economic stress.