JPM Dimon: US government should get rid of carried interest

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JPM Jamie Dimon:

  • We need to fix a lot of things. We need to fix us.
  • The dollar may not be the reserve currency if we don’t get our act together.
  • US should be taxing carry forward interest
  • Not increase SALT deduction
  • Says we are going to see a crack in the bond market.
  • Don’t know if crisis will be in 6-months or 6-years.
  • The Fed is right to give time to policy.
  • The Fed has to wait and see.
  • In the future I see inflation. I don’t see deflationary stuff
  • Deregulation and permitting would help growth and inflation
  • We should aspire to 3% growth per year.
  • AI may be deflationary but not next year.
  • I would entertain running for public office if I thought I would have a chance to win.

The markets sold off on the comments on a Friday..

  • Dow is down -0.48%
  • S&P is down -0.90%
  • Nasdaq is down -1.42%

This article was written by Greg Michalowski at www.forexlive.com.

US core PCE inflation cools to 2.5%, income surges

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US headline PCE price index rose 0.1% mom in April, in line with expectations, while annual inflation slipped from 2.3% yoy to 2.1% yoy, below the consensus of 2.2%. Core PCE, Fed’s preferred inflation gauge, also rose 0.1% mom and slowed from 2.6% yoy to 2.5% yoy, matching expectations. The data supports the view that […]

The post US core PCE inflation cools to 2.5%, income surges appeared first on Action Forex.

Swiss KOF rises to 98.5, but growth outlook remains subdued

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Switzerland’s KOF Economic Barometer edged up to 98.5 in May from 97.1, marking a modest improvement in economic sentiment. While the uptick is a positive signal, the barometer remains below its long-term average, suggesting that the broader outlook for the Swiss economy “remains subdued”. According to the KOF, the manufacturing sector showed notable strength, contributing […]

The post Swiss KOF rises to 98.5, but growth outlook remains subdued appeared first on Action Forex.

European indices close mostly higher. France’s CAC falls

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The major European stock indices are closing mostly higher. The France’s CAC is the only decliner on the day.

A snapshot of of the closing levels shows:

  • German DAX rose 74.04 points or 0.31% at 24007.28. For the trading week, the index reached a new record high of 24225.97. The index is up 1.6% this week
  • France’s CAC felt -27.82 points are -0.36% at 7751.90. For the trading week, the index rose 0.23%.
  • UK’s FTSE 100 rose 55.91 points or 0.64% at 8772.37. For the trading week, the index rose 0.62%.
  • Spans Ibex rose 35.58 points or 0.25% at 14152.19. For the trading week, the index closed marginally higher by 0.34%.
  • Italy’s FTSE 100 rose 104.41 points or 0.26% at 40087.39. For the trading week, the index rose 1.55%.

For the month:

  • German DAX, +6.71% and represents its best months since January when the index rose 9.16%
  • France’s CAC rose 2.08%
  • UK’s FTSE 100 rose 3.27%.
  • Spains Ibex rose 6.51%. The price high this month reached a new high going back to 2007
  • Italy’s FTSE MIB 100 rose 6.60%. They price high this month reached its highest level since 2007

This article was written by Greg Michalowski at www.forexlive.com.