Anna Paulson will be the next president of the Federal Reserve Bank of Philadelphia, replacing Patrick Harker who steps down on June 30.
Paulson, currently head of research at the Chicago Fed, will be the first woman to lead the Philadelphia Fed and will be a voting member on the central bank’s rate-setting committee next year.
Paulson will take office on July 1 and will focus on keeping inflation expectations anchored amidst a unique confluence of conditions that point towards stagflation. Catarina Saraiva, Bloomberg Federal Reserve Reporter reports. (Source: Bloomberg)
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The Dow and S&P 500 might do something that’s never happened before, and it’s all UnitedHealth’s fault. The Dow is down 500 points, or 1.2%, while the S&P 500 is up 0.4%; the S&P has never risen on a day that the Dow has fallen more than 1%, according to Dow Jones Market Data. The Nasdaq Composite was moving in and out of positive territory. The European Central Bank lowered interest rates for the seventh time since last June as trade tensions threaten to derail the region’s economic recovery, as Lizzy Burden reports. (Source: Bloomberg) https://assets.bwbx.io/images/users/iqjWHBFdfxIU/imSM_7BaC3dY/v29/1200x-1.png Volatility intensifies after Powell warns of rising inflation and slowing growth. The ETFs discussed here could be solid bets in the current choppy market. President Donald Trump’s tariff war has hammered stocks and bonds, and shuttered the traditional IPO market. Yet even with risk appetite on hold, the area that could benefit most from the rampant volatility is among the most speculative: The SPAC market. https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iq3ekIpNNLdk/v3/1200x-1.png The uncertainty spawned from President Trump’s tariffs is sinking Federal Reserve surveys on activity in both the manufacturing and services sectors. Optimism is building that a game-changing fund design that will help asset managers shrink clients’ tax bills and grow their ETF businesses will soon be approved by the US securities regulator. https://assets.bwbx.io/images/users/iqjWHBFdfxIU/iHq5_b3NiU5w/v3/1200x-1.png Investing.com – Canada’s main stock indexes enjoyed gains on Thursday, after a day of tech sector selloffs, U.S. Fed Chair Jerome Powell’s comments, and the Bank of Canada’s decision to maintain the key rate. Fitch Ratings upgraded its credit grade on both Bausch + Lomb Corp. and its parent company Bausch Health Cos., but said the eye care unit’s ratings will continue to be under pressure unless the two separate. https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i0Df9ew1zal0/v0/1200x-1.jpg The S&P 500, which tracks the 500 largest U.S. companies on the market, is the stock market’s most important index. Unfortunately, even the S&P 500 isn’t immune to high volatility, as we’ve seen in the days following President Donald Trump’s new tariff plan. Despite the uncertainty in the stock market, the S&P 500 is one of the best investments anyone can make.
Dow’s Divergence from S&P 500 Today Could Be Historic. Blame UnitedHealth.
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Want to Invest in the S&P 500? This ETF Is a Smart Choice With Uncertainty Surrounding the Stock Market and Economy.