Dollar Rises As Fed Minutes Signal More Tightening Ahead

20 Octobre, 2018, 01:45 | Auteur: Auguste Feret
  • Treasury Secretary Steve Mnuchin right says the president respects the central bank's independence

NO: The Fed rate is a principal tool in its toolbox to manage the economy in the event of excessive inflation, bank failure or recession. He said the Fed is moving too fast and did not want the economy to slow. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. Neutral is the level of interest rates judged to be neither accommodative nor punitive to the economy.

But some Fed members warned that instability in emerging economies - many of which are heavily indebted and vulnerable when United States rates rise - could "spread more broadly through the global economy and financial markets".

Despite Trump's criticism, CNN reported that members at the most recent Federal Reserve meeting argued for continuing with the plan of raising the rate once more in December.

"The acceleration in market decline coincided with news that Treasury Secretary Mnuchin is the latest official to pull out of the upcoming Saudi Arabian investment conference", said Ryan Larson, head of US equity trading at RBC Global Asset Management in Chicago.

The discussion, revealed Wednesday in minutes of the Fed's September 25-26 policy meeting, showed that a few participants thought the Fed's key rate would need to "become modestly restrictive for a time" to prevent inflation from climbing too high.

Regardless of actual White House policy, Mr. Trump's public berating of the Fed could perversely be having the opposite effect than the president intends, many economists say.

Australian man admits rape and kidnap of British backpacker
It had been alleged the man first met the British backpacker in Cairns and became involved in a brief relationship with her. Prosecutors dropped 10 other charges - eight of rape, one of serious cruelty to animals, and one of torture, ABC reported.

Massive 16ft alligator called Chubbs spotted wandering across golf course
Does this business involve eating people? It's unclear where he ultimately ended up, but you can imagine the scene now. Golfer Sage Stryczny spotted him on the course and shot video of his encounter, according to FoxNews13.com .

Neymar voudrait retourner au Barça — MD
Le Brésilien se serait également réuni avec certains dirigeants du FC Barcelone pour vanter les avantages de son retour.

But, amid brisk American expansion, some Fed policymakers also warned of looming dangers to the world economy, such as the potential for a strengthening USA dollar and possible contagion from sputtering emerging markets, according to minutes from the Fed's most recent meeting three weeks ago.

Many on Wall Street and in government have decried the president's attacks on the Fed, pointing to the long-term danger of undermining the USA central bank.

Trump, who has openly criticized the Fed since July, doubled down on Tuesday, declaring the Fed his "biggest threat" in an interview on Fox Business. Along with low unemployment, inflation is roughly at the Fed's 2 percent target.

Former National Economic Council director Gary Cohn said on Thursday he doesn't think President Donald Trump should comment on independent agencies, after the President's repeated comments bashing the Federal Reserve. "It has rationalized the (Fed's) path", Bullard said.

Trump has recently been vocal in his displeasure with the pace of the Fed's interest rate hikes.

As for public speeches scheduled for today, ECB Governing Council member Ewald Nowotny will be talking on "the future of financing and currencies" at 0800 GMT, while ECB Executive Board Member Benoit Coeure and ECB President Mario Draghi are due to speak in the Euro Summit which concludes today in Brussels. The Fed believes that regardless of the criticism from the administration, increasing the benchmark rate is still the best policy.

Conseillé:



Populaire

'Supergirl' Recruits Lex Luthor For Season 4 | SuperGirl, Television
For the moment, no casting announcements have been made for the part of Lex Luthor, nor are we aware of when the villain will be making his SUPERGIRL debut.

At least 50 people die after train runs over crowd in India
An eyewitness told ANI that a train travelling at a fast speed ran over several people during Dussehra celebrations. Image: People had gathered near the tracks to watch a burning effigy. "There are more than 50 casualties.

Wish to work with Fawad Khan: Parineeti Chopra
Namaste England box office collection Day 2 LIVE Updates: The much-awaited film Namaste England is finally in theatres now. We clicked Arjun's sisters Janhvi Kapoor, Anshula Kapoor and Khushi Kapoor at the special screening of the film.

Plus de trois cents sportifs signent une lettre ouverte à Emmanuel Macron
Concernant le budget du ministère prévu dans le projet de loi finances 2019, il plafonne à 451 M€, soit 30 M€ de moins sur un an. Insuffisant pour le signataires, qui se disent " très inquiets ".

Trump threatens to close southern United States border over caravan of migrants
Immigration officials later issued a statement levying property damage allegations against Mujica, who holds dual U.S. Trump tweeted, adding that he blamed Democrats for what he called "weak laws!" Trump said in one tweet Thursday.

FA condemns social media abuse of Chelsea and England midfielder Karen Carney
In response to the abuse, Carney, who has 133 global caps, wrote: "Wow some people". The FA called on Instagram and the police to act.

Facebook in fresh video metrics row
In 2016, Facebook admitted to an error in miscalculating video metrics, which of course had major consequences for advertisers. The company long had a policy to not count video views that lasted less than 3 seconds.

Woman: Michigan pharmacist refused to give miscarriage drug based on religion
It was crucial for her to take the medication in a timely manner to avoid having to undergo a more invasive surgical procedure. The pharmacist also refused to let Peterson speak to another pharmacist, or transfer her prescription to another location.

Nikki Haley Roasts Elizabeth Warren For Failing DNA Test
The former SC governor also delivered punchlines about rapper Kanye West and Trump's embattled attorney general, Jeff Sessions. Ambassador to the United Nations, at the United Nations General Assembly at U.N. headquarters, September 24, 2018.

George Lopez brawls with guy at Hooters over Trump 'joke'
The camera soon goes shaky - presumably because George has started jostling the man - and a shot reveals Lopez grabbing his neck. Hello! George wants to fight me!' On a "Late Show" appearance in June 2016 , Lopez said: " Trump says the Mexicans love me".