Business

Speaking in at a conference in Tokyo, the head of the Philly Fed, Patrick Harker said that he has penciled in a further rate hike by the Fed at its December meeting on 12-13 December 2017. However, his use of the word “lightly” suggested that there may be a degree of wavering on his part. According to Reuters.

A Federal Reserve official said on Monday he expects to back an interest rate hike next month despite caution over low-inflation, as U.S. central bank policy needs to be positioned to deal with future economic shocks.

 

The pre-market buyers of last resort, hoping that GE just kitchen-sinked by slashing its dividend by 50%... are in trouble.

Everything was fine until CEO Flannery started speaking...

Authored by Mike Shedlock via www.themaven.net/mishtalk,

Most defined benefit pension plans are nothing but Ponzi schemes. Plans are now unraveling because of demographics. An increasing number of retirees, needing untenable returns, are supported by fewer and fewer people putting money in the system. Democrats sponsored a bailout scheme. Will it pass?

Pension and Investments reports Sen. Sherrod Brown to Unveil Multiemployer Loan Program Legislation.

They finally did it.

Since 2008, Central Banks have been desperately trying to generate inflation.

They know they cannot produce growth (hence why both the Fed and the ECB abandoned this as a goal in their statements back in 2013)… so they have chosen to “target” inflation.

To that end, Central Banks have maintained Zero Interest Rate Policy (ZIRP) as well as Negative Interest Rate Policy (NIRP) for the better part of eight years. They’ve also printed over $14 TRILLION in new capital and funneled it into the financial system.

One months ago, we reported that according to option markets, GE - whose stock prices and operations have been in turmoil recently- was expected to massively slash its dividend, by just over 40%.