Energy prices bump key US inflation index up in November

Rising prices for energy and other goods nudged a closely watched measure of US inflation a little higher in November, according to new data published Thursday. The modest uptick could offer comfort to Federal Reserve policymakers who raised the benchmark interest rate this month for the third time in 2017 despite a long streak of weak… Please follow and like us:

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2017: The year the bitcoin craze reached Wall Street

Bitcoin burst out of the shadows in 2017, seducing Wall Street and individual investors alike even though many still struggle to understand precisely what it is. The cryptocurrency’s rise is also pushing regulators to consider taking action after years of simply urging caution. Bitcoin started the year at $1,000 per unit in January but by mid-December… Please follow and like us:

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Fed hikes key interest rate again, boosts next year’s economic growth forecast

WASHINGTON — Federal Reserve monetary policymakers on Wednesday nudged up their key interest rate again and increased their forecast for the economy’s performance in 2018 as Congress neared passage of a large tax-cut package. Fed officials forecast 2.5 percent growth next year with an increase in consumer spending and business investment expected from the lower taxes,… Please follow and like us:

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The Fed Boiling Frog Strategy

With the US Federal Reserve set to meet Tuesday and Wednesday, and interest rates expected to rise as a result, what will the rate hike path look like in 2018? To Bank of America Merrill Lynch’s Global Economist Ethan Harris, understanding the Fed and their future actions requires taking a long view that goes beyond one… Please follow and like us:

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Asian traders extend global rally after US jobs data, eyes on Fed

Most Asian markets rose Monday, tracking fresh records on Wall Street following forecast-busting US jobs data, as investors eyed the Federal Reserve’s latest policy meeting later this week. US data on Friday showed 228,000 jobs were created last month and unemployment held at a 17-year low, reinforcing the view that the world’s number one economy is… Please follow and like us:

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Senate panel approves Trump pick for Fed chairman

WASHINGTON — A Senate committee has approved Jerome Powell’s nomination to replace Janet Yellen as head of the Federal Reserve. Tuesday’s 22-1 vote by the Senate Banking Committee clears the way for full Senate approval in the coming weeks before Yellen’s term ends Feb. 3. The only “no” vote came from Sen. Elizabeth Warren, D-Mass. Powell,… Please follow and like us:

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US Economic Growth Speeds Up Slightly

The world’s largest economy shook off the impact of several hurricanes and grew a bit faster than first thought in July, August, and September. On Wednesday, U.S. government experts said the economy expanded at a 3.3 percent annual rate in the third quarter, which is three-tenths of a percent faster than their first estimate. Officials routinely… Please follow and like us:

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US Fed nominee Powell: Case for raising rates in Dec ‘coming together’

President Donald Trump’s pick to lead the US Federal Reserve said Tuesday there is a strong case for raising the benchmark interest rate at the central bank’s December policy meeting. In an unusually direct comment for normally-reticent central bankers, Fed governor Jerome Powell told the Senate Banking Committee, “I think that the case for raising interest… Please follow and like us:

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‘Many’ Fed members favor near-term rate hike: minutes

A majority of US central bankers favor raising benchmark interest rates in the near term, signalling the Federal Reserve is likely to tighten monetary policy next month, minutes from their last meeting revealed Wednesday. But sharp disagreements persist among policymakers over the dangers of inflation and the need to raise rates, according to the minutes of… Please follow and like us:

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Yellen to step down from Fed board when her successor as chair is sworn in

WASHINGTON — Federal Reserve Chairwoman Janet L. Yellen submitted her resignation Monday, effective when her successor is sworn in, providing President Donald Trump another seat to fill on the central bank’s board. Trump decided not to renominate Yellen, 71, to lead the Fed, opting this month to tap Fed Gov. Jerome H. Powell instead. Yellen’s four-year… Please follow and like us:

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The Drug Of Central Stimulus Will Ware Off Markets: Inflation Is Coming

Albert Edwards has peered into the future, and he sees the whites of inflation’s eyes. How can the head of the Societe Generale’s global strategy “team” tell? The very individualist Edwards notices that Americans are set to take more holidays than at any point in history. He then correlates union / worker power with inflation as… Please follow and like us:

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Capital Economics Says Gold Is Going To Fall

As the US Federal Reserve prepares for a transition on multiple levels – withdrawing addictive quantitative stimulus while engaging in wide-ranging personal shifts at the top – trends are starting to break out. While industrial metals were higher in October, precious metals were lower — and they may have further to go, particularly with regard to… Please follow and like us:

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Jerome H. Powell Nominated As Fed Chair – Analysts React

Yesterday, Jerome H. Powell was nominated by President Trump to take the place of Fed Chair, Janet Yellen. All the pundits are wondering what this means for Federal Reserve policy in particular for potential rate hikes and balance sheet unwinding. Below are snippets from what analysts are saying about how Jay Powell would change (or not)… Please follow and like us:

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US Fed chief: a central banker who can make markets tremble

The head of the US central bank, due to be named Thursday afternoon by Donald Trump, holds vast sway over the global economy, and can make markets tremble with the slightest comment. Trump is expected to name current Fed Governor Jerome Powell, who has the advantage of being a Republican like the president, to replace Janet… Please follow and like us:

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US Central Bank Keeps Benchmark Rate Unchanged as Focus Shifts to Next Fed Leader

Officials of the U.S. central bank decided to keep the key U.S. interest rates steady at a relatively low 1-1.25 percent level Wednesday. In a statement, Federal Reserve officials left open the possibility of raising rates in December because of a “strong” labor market and “solid” economic activity. During the recession, the Fed cut the interest… Please follow and like us:

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