Central banks are experiencing a soul-searching moment as they look to strengthen their popularity after the global financial crisis — an exercise that could ultimately change how they operate. The European Central Bank (ECB) is hosting its first “listening event” in Brussels next month. President Christine Lagarde is set to discuss with European citizens the role of the central bank a... read more

When the financial system was about to collapse in 2007-08, central banks were quick to step in and to buy falling assets. This avoided a complete economic meltdown. However, at present on world financial markets, monetary policy is not combating risk but adding to it. Central banks have become major creators of possible economic shocks. Highly accommodative monetary policy can contribute to... read more

The Federal Reserve rushed to inject liquidity into the financial system on Tuesday and Wednesday as it tries to wrestle control over interest rates. Over the past two days, borrowing costs surged as market participants scrambled for funding, pushing the effective federal funds rate to 2.30% as of Tuesday night, above the Fed’s target range of 2.00% to 2.25%. In focus: the repurchase agreeme... read more

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. European Central Bank President Christine Lagarde said a decade of crisis fighting has left policy makers with few options for more monetary stimulus, just as new concerns such as the coronavirus outbreak arise. Lagarde said that while the euro zone’s domestic economy remains �... read more

There are more public-school students than ever who don’t have a home to shelter them every night, and for many, school is their only safety net, advocates say. The number of public-school students who experienced homelessness at some point in the past three school years rose from 1.3 million in the 2015-2016 school year to 1.5 million in the 2017-2018 school year, according to new federal g... read more

Deutsche Bank AG swung to a 5.3 billion euro ($5.8 billion) loss in 2019, highlighting the size of its challenge in making itself leaner and more profitable through a sweeping overhaul. The German bank DB, +1.15% DBK, +3.52% is struggling to make money in a negative-rates environment and under stiff competition from U.S. peers for investment-banking business. Last year, after a failed attem... read more

As we all know, the "unsinkable" Titanic suffered a glancing collision with an iceberg on the night of April 14, 1912. A half-hour after the iceberg had opened six of the ship's 16 watertight compartments, it was not at all apparent that the mighty vessel had been fatally wounded, as there was no evidence of damage topside. Indeed, some eyewitnesses reported that passengers playfully scattered... read more

Gold went on a hot run last year. The price went up 18.83% as investors stressed about the lengthy bull market, trade wars and recessionary fears. Bullion is at it again in 2020, up more than 2% on what one leading gold strategist called a period of “unprecedented uncertainty”. George Milling-Stanley, chief gold strategist at State Street Global Advisors, has more than 40 years in the bu... read more

(Bloomberg) -- Gold jumped as the spread of the coronavirus globally spurred demand for haven assets. Prices rose as much as 1.1% as risk-off sentiment swept markets, with equities and crude oil tumbling. In the latest attempt at containment, China extended the week-long Lunar New Year holiday and banned all outgoing overseas group tours to avoid having travelers contribute to its spread. P... read more

The U.S. dollar’s (DX-Y.NYB) dominance in world financial markets is poised to erode over time as government officials seek to manipulate the strength of the currency for political purposes, according to the head of investment research at the world’s largest hedge fund. “The U.S. dollar has had such a dominant role in the global financial system for so long that it can’t get stronger... read more