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Federal Reserve Chairman Jerome Powell stated that the business model of regional banks is under pressure and the Fed does not want to add to that. He emphasized that smaller banks are very important.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 5:01 pm

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Federal Reserve Chairman Jerome Powell has stated that the Fed is working with regulators to address issues in the commercial real estate sector. He acknowledged that there will be losses, but does not see systemic risk from these problems. Powell also emphasized the importance of regional banks and stated that mega banks are in a very good position.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:59 pm

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Federal Reserve Chairman Jerome Powell stated that banks have significantly improved their risk management compared to the past. He also mentioned that the Fed will take public comments on bank rules very seriously. Powell noted that commercial risk is not a significant concern for the biggest banks, but it poses a bigger risk for smaller banks.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:58 pm

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Federal Reserve Chairman Jerome Powell has stated that issues on the banking front have settled down. The Fed has been paying close attention to banks that appeared to have problems, but bank stress has significantly reduced. However, the Fed continues to monitor for potential trouble.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:56 pm

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Enovis has announced a proposed private offering of $400 million of convertible senior notes and issued preliminary Q3 results. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:53 pm

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Federal Reserve Chairman Jerome Powell stated that higher bond yields are leading to tighter financial conditions, which is what the Fed desires. He also mentioned that higher yields at the margin are reducing the pressure on the Fed to increase rates.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:51 pm

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Federal Reserve Chairman Jerome Powell stated that the economy remains strong according to business contacts. However, he noted that the cost of capital could be an issue for small companies. He also mentioned that the Fed's policy is blunt but necessary to tackle inflation.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:48 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the current fiscal situation is unsustainable in the long run, but it does not affect the Fed's near-term policy choices. He also noted that overseas Treasury buying remains robust.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:47 pm

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Federal Reserve Chairman Jerome Powell has suggested that the rise in bond yields may be due to market reactions to deficits and the Fed's balance sheet actions. He also noted that the increase in bond yields is tightening financial conditions.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:43 pm

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Federal Reserve Chairman Jerome Powell stated that the analysis of bond yields requires humility. He noted that the rise in bond yields is driven by term premiums and not by higher expected inflation or monetary policy view. Powell also mentioned that markets are seeing economic resilience and revising views.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 4:41 pm