NEWSLETTER - NOV 27, 2022
Fed officials see smaller rate hikes coming ‘soon,’ minutes show
Federal Reserve officials expect to switch to smaller interest rate increases “soon,” according to minutes from the November meeting released Wednesday.
Federal Reserve officials expect to switch to smaller interest rate increases “soon,” according to minutes from the November meeting released Wednesday.
Markets have largely expected the Fed to dial down the intensity of its policy tightening, and the minutes helped confirm that.
Sourced from CNBC
Get ready for a prolonged downturn that’s worse than 2000 or 2008, billionaire VC Doug Leone says
Sequoia Capital partner Doug Leone warned today’s economic downturn was “more difficult and more challenging” than recessions in 2000 and 2008.
Tech leaders and investors have been forced to reckon with higher interest rates and deteriorating macroeconomic conditions.
Leone said he doesn’t expect the economy to recover until at least 2024.
Sourced from CNBC
Credit Suisse shareholders greenlight $4.2 billion capital raise
The new share offering will see the Saudi National Bank take a 9.9% stake in Credit Suisse, making it the bank’s largest shareholder.
Credit Suisse on Wednesday projected a 1.5 billion Swiss franc ($1.6 billion) loss for the fourth quarter as it begins its second strategic overhaul in less than a year.
Sourced from CNBC
