News 

Plans to unwind banking regulation ‘very, very dangerous’, says Fed’s Fischer

“Leading Federal Reserve policymaker Stanley Fischer has hit out at plans to unwind banking regulation, brandishing it a “terrible mistake.”” writes Karen Gilchrist for cnbc.com. Fischer has, however, endorsed efforts to ease regulations for small banks, claiming it would help balance the banking system.”But the pressure I fear is coming to ease up on large banks strikes me as very, very dangerous.”. The pressure to ease up on small banks is fine with me.And now after 10 years everybody wants to go back to a status quo before the great…

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Prepare for negative interest rates in the next recession, says top economist

“Negative interest rates will be needed in the next major recession or financial crisis, and central banks should do more to prepare the ground for such policies, according to leading economist Kenneth Rogoff” writes Tim Wallace for telegraph.co.uk. Quantitative easing is not as effective a tonic as cutting rates to below zero, he believes.Central banks around the world turned to money creation in the credit crunch to stimulate the economy when interest rates were already at rock bottom. In a new paper published in the Journal of Economic Perspectives the…

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How to test chargers and power banks to make sure they don’t blow up your expensive smartphone

“I take safety very seriously, and before I recommend any chargers of power banks to my readers I carry out a range of safety and performance tests to ensure that the products that I recommend are of a quality that I’d be happy to leave plugged in at my house, or allow my family and friends to use” reports zdnet.com. Here’s a look at how I test chargers and power banks, and here are some of the tools I use. Source: zdnet.com Share This:

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Markets News 

Biggest banks prefer full Volcker Rule repeal, but a rewrite would do

“The biggest banks have already digested the myriad requirements of the complex 950-page Volcker Rule and have spun off prohibited proprietary trading units, but the industry is still pushing Congress to fully repeal the rule” writes Francine Mckenna for marketwatch.com. And the banks have already been blessed with a pass on Volcker Rule enforcement, for now, on investments in foreign funds.Deutsche Bank was the first and only bank so far to be fined for alleged violations of the Volcker rule.Supporters like SIFMA, Hensarling and the OCC’s Noreika, are addressing their…

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Crypto News 

Overstock expands cryptocurrency acceptance

“However, for Overstock, expanding the types of digital currencies it accepts could be a way overcome this hurdle” writes Ayoub Aouad for businessinsider.com. Merchant acceptance of bitcoin is at an all-time low — out of the leading 500 internet sellers, just three accept bitcoin, down from five last year.Adding more cryptocurrencies could be an advantage for Overstock, as the digital currency market becomes more fragmented — bitcoin’s market share of digital currency has dropped from over 80% to roughly 50%. Source: businessinsider.com Share This:

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Fed’s Dudley says modest wage growth reflects sluggish productivity

“Wage growth in the U.S. economy remains modest in part because of sluggish productivity, said New York Fed President William Dudley on Thursday” writes Senior Economics Reporter for marketwatch.com. As U.S. economic leaders consider how to address income inequality, they should also consider how to improve productivity, because that would help raise the level of household income, Dudley said in brief prepared remarks to reporters at his bank’s headquarters near Wall Street.Dudley, who always has a vote on the Fed’s policy committee, said his bank’s economists project continued moderate growth…

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A big buyer could be leaving Manhattan’s commercial real estate market at the worst possible time

“And this could hit the already wheezing commercial real estate bubble in the US at the worst possible moment” writes Wolf Richter for businessinsider.com. In terms of commercial real estate, the party kicked off seriously in 2013.Commercial real estate prices in the US, after a seven-year boom, peaked last year.In the second quarter in Manhattan, Chinese entities accounted for half of the commercial real estate purchases. Source: businessinsider.com Share This:

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