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A slew of weak economic data has raised concerns that the U.S. is in a recession. Recent reports suggest that the Fed is ready to act.
Bank of America strategist Priya Misra and her team have revised their Fed call and expect that Fed will act when it is “comfortable that the growth slowdown is likely to persist”. Here’s what BofA expects from the Fed: An extension of its forward guidance in a manner that would push rate [...] by ZH To all who thought that the FASB gives leeway only to banks when fudging their numbers, and boosting their equity capital in ways previously unheard of, we have a surprise. The latest entrant in the “accounting gimmickry” club is none other than the Fed. And since the Fed is not auditable by anyone, it gives itself permission to change and bend the rules in [...] by zh The Fed recently announced as part of its January 6 H.4.1 release “an important accounting policy change with the release of its weekly H.4.1 report on January 6 that effectively prevents it from facing a negative capital position even in the event that it incurs substantial losses.” Here is how Bank of America’s Priya Misra explains this curious, and most certainly politically-motivated development: “The [...] |
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