March 30, 2023

Putin hedges Trump bet by dumping Treasuries to safeguard assets

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From Newsmax Russian officials are hoping Vladimir Putin’s rapport with Donald Trump will lead to rapprochement with the U.S. But they’re not taking any chances. A U.S. Treasury report this week appears to show Russia liquidating dollar assets at a record pace, selling four-fifths of its cache of U.S. government debt, $81 billion worth, over […]

U.S. Banks’ love of the Cayman Islands shows there’s still room to simplify, Fed says

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By Yalman Onaran From Bloomberg The largest U.S. banks, after a decade of efforts at simplifying their organizational structure, still have hundreds of overseas subsidiaries and a fondness for tax-haven or secrecy-protecting locations such as the Cayman Islands. Those are the findings of a study by the Federal Reserve Bank of New York published on […]

Puerto Rico should rebuild power from scratch: U.S. Fed official

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By Jonathan Spicer From Reuters NEW YORK (Reuters) – Puerto Rico should “start from scratch” rebuilding its already outdated power infrastructure after deadly Hurricane Maria last year devastated it and left citizens marooned, the U.S. central banker overseeing the island territory said on Thursday. New York Fed President William Dudley did not comment on U.S. […]