Daily Money & Banking News Update: 01/27/2016

The unsurprising news is that the Fed decided to stay put on interest rates. Markets didn’t seem to be too happy about that, let’s see how they react the rest of the week. Yellen will be testifying before Congress two weeks from now, so expect a lot of questions about the Fed’s rate stance to be headed her way.

  1. Italy Does Deal with EU on Scheme to Shed Banks’ Bad Loans (CNBC)
  2. Financial Markets Still Don’t Believe the Fed’s Rosy Scenarios (MarketWatch)
  3. Jury Acquits Five of Six Brokers in LIBOR Trial (Financial Times)
  4. FOMC Monetary Policy Statement (Federal Reserve Board)
  5. Federal Reserve Acknowledges Slower Growth, Leaves Interest Rates Unchanged (Washington Post)
  6. China’s Central Bank Makes Massive Cash Infusion (MarketWatch)
  7. This Analyst Expects the Fed to Cut Rates (CNBC)
  8. Cash Is Still King in Europe – Euro Banknote Circulation Reaches Record $1.1 Trillion in 2015 (David Stockman’s Contra Corner)
  9. Fed Meeting: What to Watch For (Financial Times)
  10. Bundesbank Transferred 210 Tonnes of German Gold in 2015 (Financial Times)
  11. Fed Seen Keeping Interest Rates Steady Amid Market Volatility (Reuters)
  12. Bank of America Entering the Cardless ATM Competition (CNBC)
  13. Gold Has Been One of Wall Street’s Best Bets Early in 2016 (MarketWatch)
  14. Swaps Clearinghouses Can Pose Contagion Risks: US Monitor (Reuters)
  15. Irish Banking Crisis Homemade But ECB Made It Worse – Inquiry (Reuters)
  16. Fed Signals Diminished Appetite to Lift Interest Rates (MarketWatch)
  17. Fed Doesn’t Rule Out March Rate Rise Despite Cautious Outlook (Wall Street Journal)
  18. The Fed Is Losing Its Benchmark: Gross (CNBC)
  19. Traders Bet Fed Won’t Raise Rates in First Half of 2016 (Reuters)
  20. US Expects to Collect $1.36 Billion From Swiss Banks That Helped Clients Hide Money (Wall Street Journal)
  21. Why the Fed Has the Stock Market Spooked (Wall Street Journal)
  22. Forget Rate Hike, Fed Could Reverse Course (CNBC)
  23. Low Inflation Just as Big a Concern as Runaway Price Pressure, Fed Says (MarketWatch)
  24. Uncertain Path Seen for Rate Hikes Post-Fed Meeting (CNBC)
  25. Ex-Governor Heller: “Fed Is Afraid of Its Own Shadow” (CNBC)
  26. Europe’s Banking Union Flunks Its First Test (Wall Street Journal)