Jeff Cox, CNBC.com’s Posts

Source: CNBC
Jeffrey Gundlach

The Federal Reserve has little justification to raise interest rates amid a deflationary global backdrop, bond expert Jeff Gundlach said. “There was a year, 1937, when the Federal Reserve tightened credit conditions prematurely and it led to the second leg of the Great Depression,” said Gundlach, who confessed to being “worried” that the Fed would …

Stan Honda | AFP | Getty Images
Traders work on the floor of the New York Stock Exchange.

Exchange-traded funds are on their way to $5 trillion in assets, a path that will travel around the globe as more nations dive into the increasingly popular investment vehicle, according to a study released Monday. Asset managers responding to a PricewaterhouseCoopers analysis of the industry believe that lofty mark will be attained as soon as …

Brian Snyder | Reuters
Shoppers in the parking lot of a Walmart store in Massachusetts.

A year in which the U.S. economy was supposed to turn the corner and lead the world sure has started out in bumpy fashion. Retail sales, manufacturing and inflation readings sputtered into the end of 2014, according to reports released this week. Meanwhile, weekly jobless claims jumped back above 300,000 and a new study called a …

Adam Jeffery | CNBC
James Bullard, president of the Federal Reserve St. Louis.

While 2014 featured the biggest growth in 15 years, Friday’s jobs report left at least one key constituency unimpressed. The St. Louis branch of the Federal Reserve, in a brief post following the release of the non-farm payrolls count, added to its rolling chart of the monthly gains. However, in a tweet sent out Sunday, …

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A transmission for a Chrysler Ram 1500 truck goes through the assembly line at the Warren Truck Assembly Plant in Warren, Michigan.

Job creation kept the pace in December, with the U.S. economy creating 252,000 jobs to close out the year, while the unemployment rate dropped to 5.6 percent. The U.S. was expected to create 240,000 jobs in December, after adding an unexpectedly strong 353,000 jobs the prior month. The unemployment rate was seen falling to 5.7 percent …

Daniel Acker | Bloomberg | Getty Images
A man walks past a sign at the entrance to a Princeton Area Chamber of Commerce job fair in Princeton, Illinois.

Private-sector job creation popped in December, with companies adding a better-than-expected 241,000 workers, according to payroll processor ADP. The count topped economist estimates, according to Reuters, of 226,000 and helped continue a trend of solid aggregate job numbers. Services led the way, adding 194,000, while goods-producing industries contributed the remaining 46,000, according to the report …

Source: Diebold
A prototype of a Diebold bank branch of the future.

Peek into the future of bank branches and you won’t see many bankers. In the years ahead—sooner rather than later—banks will continue to shutter their satellites and turn to other means to perform the services once done at the branches. Community-level banking, particularly from large institutions, will become more cost efficient and less personal. Where …

Andrew Harrer | Bloomberg | Getty Images
The Marriner S. Eccles Federal Reserve building at sunrise in Washington.

The Fed’s not ready yet. Despite expectations that the Federal Reserve would take its first, albeit tentative, step toward raising interest rates Wednesday, the central bank instead opted to keep a key piece of language in its post-meeting statement. The phrase “considerable period” has been included to assure financial markets that it would be quite …

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Federal Reserve Board Chair Janet Yellen.

Just when market participants started to adjust to the Federal Reserve being on hold even longer than originally expected comes a potential twist. When the central bank’s Open Market Committee meets in a week, it may change a key piece of language in the public statement it releases afterward, according to reports, including one Tuesday …

Brent Lewin | Bloomberg | Getty Images
A man walks past a Pacific Investment Management Company LLC (PIMCO) advertisment which is displayed on a building in Hong Kong, China.

Investors have been withdrawing money aggressively out of bond funds recently, and it’s pretty much all Pimco’s fault. In fact, when excluding flows from the Newport Beach, California-based fixed income behemoth, all other bond funds actually have been taking in money, according to calculations from Morningstar that highlight just how pronounced a reaction investors have …

Lucas Jackson | Reuters
Traders work on the floor of the New York Stock Exchange, Nov. 7, 2014.

A brief pause in the pace of companies buying back their own stock likely will reverse in 2015, with companies expected to crank up the repurchase machine. Buybacks probably will increase 18 percent to $707 billion next year, according to an analysis from Goldman Sachs that also projects only a modest growth in business investment. …

Lucas Jackson | Reuters
Traders on the floor of the New York Stock Exchange.

Friday’s stock surge provides yet another reminder that when it comes to moving the market, there’s nothing like a little old-fashioned money printing. What waits on the other side—asset bubbles, inflation, the prospects for still greater wealth disparity—remains, of course, an issue for another day. The important thing is that the market wants what the …

Sean Gallup | Getty Images

Here’s where a $40 billion trade deficit comes in handy. Because the U.S. has such a sharp imbalance between what it imports and exports, expected global weakness ahead likely won’t have a severe effect on domestic economic growth, according to a report this week from Goldman Sachs economists. In fact, Goldman held firm to its …

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New York Federal Reserve President William Dudley

The mood may have been polite and diplomatic, but the message was not. At an otherwise docile gathering Monday, New York Fed President William Dudley and Fed Gov. Daniel Tarullo delivered a message to high-ranking Wall Street executives that bad behavior won’t be tolerated. Dudley in particular said big financial institutions operate under a cloud …

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Income inequality in the United States is near its highest levels of the past 100 years, Fed Chair Janet Yellen said on Friday. Yellen, in remarks prepared for a speech Friday morning, said she was concerned about both the growing burden of student debt and the decline in new business formation, which she said could …