20:12:43 EST Sat 08 Feb 2025
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or Name
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JPMorgan CDR (CAD Hedged)
Symbol JPM
Shares Issued 3,250,000
Close 2024-12-04 C$ 32.38
Market Cap C$ 105,235,000
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Globe/AP say BofA, rivals hear Fed needs independence

2024-12-05 07:06 ET - In the News

See In the News (C-BOFA) Bank of America CDR (CAD Hedged)

The Globe and Mail reports in its Thursday, Dec. 5, edition that chairman Jerome Powell stated that the Federal Reserve needs to set interest rates without political interference to serve all Americans rather than a specific political party. An Associated Press dispatch to The Globe reports that at the New York Times' DealBook summit, Mr. Powell responded to a question about president-elect Donald Trump's criticisms of the Fed and him. During the campaign, Mr. Trump insisted he should have a say in the Fed's interest-rate policies. In his remarks Wednesday, Mr. Powell said, "We're supposed to achieve maximum employment and price stability for the benefit of all Americans and keep out of politics completely." Despite Mr. Trump's comments, Mr. Powell said he was confident of widespread support in Congress for maintaining the Fed's independence. He said: "I'm not concerned that there's some risk that we would lose our statutory independence. There's very, very broad support for that set of ideas in Congress, in both political parties, on both side of the Hill." Mr. Powell said the Fed can afford to cut its benchmark rate cautiously, because the economy is doing better than the Fed thought it was in September.

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