Thrilled to announce I’ve joined @nytimes to lead their coverage of the Federal Reserve and write about the US economy. Big thank you to @FT for a wonderful nearly 7 years. You can now reach me at [email protected]
Colby Smith
6,787 posts
Colby Smith
@colbyLsmith
@nytimes correspondent writing about the Federal Reserve and the US economy. Previously @FT, @TheEconomist, @BloombergTV. [email protected]
New York, NY
Joined February 2013
- .@SenWarren to Powell: "You know what’s worse than high inflation and low unemployment? It’s high inflation and a recession with million of people out of work. I hope you will reconsider that before you drive this economy off a cliff"
- New @FT big read with @valentinaromei & Will Crofton on why America’s economy is soaring ahead of its rivals US labour productivity has grown by 30% since the 2008-09 financial crisis, more than three times the pace in the Eurozone and the UK and far outstripping that of other
- First day in a new role at the @FinancialTimes, covering all things US economy, Federal Reserve, IMF and World Bank. Get in touch: [email protected]
- "Democrats have defied history tonight," @BenLaBolt tells @JamesPoliti. "The story of Joe Biden’s political career is that people always count him out and he always defies expectation and these midterms are another example of that" ft.com/content/ddbe05… @FinancialTimes
- Nearly 70 market participants parked $756bn at the Fed via its reverse repurchase programme today, a $235bn increase from Wednesday ft.com/content/f0ec21… @FT
- “Rare, ugly and worrying”. That is how Krishna Guha, vice-chair at Evercore ISI, described the market moves today. In the last 30 yrs he said there are only four other times that the U.S dollar index depreciated more than 1.5% with the yield on 30-yr Treasuries up more than 10bps
- In an interview with @FinancialTimes, @GitaGopinath of @IMFNews says the sanctions imposed on Russia could lead to a more fragmented int'l monetary system w/ small currency blocs emerging based on trade btwn separate groups of countries ft.com/content/3e0760… @Jonthn_Wheatley
- Speaking to reporters on Tuesday, Treasury secretary Janet Yellen said the US is "monitoring developments very closely” in the UK @JamesPolitiBiting criticism from @IMFNews of the UK's fiscal plan comes as international criticism grows ft.com/content/069620… @FinancialTimes
- In Cincinnati, Beth Hammack of @ClevelandFed heard rising angst from businesses but no immediate plans for layoffs. She prefers to "wait and move quickly to play catch-up" on policy moves "I legitimately do not know which way this is going to break"
- Mary Daly of the SF Fed tells @lisaabramowicz1 that the recent surge in US Treasury yields is equivalent to roughly a rate hike, suggesting that if sustained, it could dim the need for another increase by the central bank
- Federal Reserve announces emergency lending facility "to help assure banks have the ability to meet the needs of all their depositors"
- Two people with knowledge of the matter said that a draft of a letter firing Powell was given to the president earlier in the week by William J. Pulte, the director of the Federal Housing Finance Agency @maggieNYTSome advisers to and allies of Trump insist the president is trolling Powell and hoping to torment the Fed chair but won’t actually follow through with trying to fire him But the existence of a draft letter doing so suggests he is engaging in the type of moves that he often does
- APOLLO: Events this past week correspond to a 1.5% increase in the Fed funds rate. In other words, over the past week, monetary conditions have tightened to a degree where the risks of a sharper slowdown in the economy have increased.
