November 17, 2023
United States:
Powell’s Fed Sticks Together in Fight Against Inflation Despite Differences
For all the tough decisions Federal Reserve officials have made during their 20-month inflation battle, you wouldn’t know it from looking at the policy votes.
Over the past 11 meetings of the Federal Open Market Committee, not a single member voted against the actions led by Chair Jerome Powell, an unusually long stretch of unanimity that belies underlying differences and uncertainty over the direction of monetary policy and the economy.
Europe:
EU Energy Agency Gets Powers to Investigate Manipulation Cases
The European Union’s energy regulators are set to get new powers to enhance the bloc’s protection against market abuse, including the right to carry out investigations in cross-border cases and to impose penalties.
As part of a revision of EU law on market transparency, negotiators agreed to broaden the authority of the Agency for the Cooperation of Energy Regulators, known as ACER. It will also allow for on-site inspections and requests for information.
Asia:
India’s Move on Risky Loans to Hit Banks More Than Economy
India’s central bank is clamping down on risky consumer lending as the economy booms, a move that’s likely to hurt banks but only have a limited impact on growth.
The Reserve Bank of India on Thursday told lenders to set aside more capital for unsecured consumer loans, such as credit cards and small, personal loans.
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