Fed sparks irrational market optimism on possible rate cuts: Sheila Bair

Market optimism over the potential for interest rate cuts next year is dangerously overdone, according to former FDIC Chair Sheila Bair. Bair, who ran the FDIC during the 2008 financial crisis, suggested Federal Reserve Chair Jerome Powell was irresponsibly dovish at last week’s policy meeting by creating “irrational exuberance” among investors. “The focus still needs … Read more

TikTok says it regrets Indonesia’s decision to ban e-commerce sales on social media platforms

JAKARTA, Indonesia — Chinese-owned app TikTok on Thursday said it regretted the Indonesian government’s decision to ban e-commerce transactions on social media platforms and particularly the impact it would have on the millions of sellers who use TikTok Shop. But TikTok Indonesia said in a statement it will respect the regulations and laws that apply … Read more

ASEAN strikes nearer to financial unity with new regional funds system

Indonesian President Joko Widodo makes a speech throughout the Affiliation of Southeast Asian Nations (ASEAN) Overseas Minister’s Assembly in Jakarta, Indonesia on July 14, 2023. Murat Gok | Anadolu Company | Getty Photos A brand new regional cross-border fee system not too long ago applied by Southeast Asian nations might deepen monetary integration amongst members, … Read more