Powell speech: Policy has not been as accommodative as we thought
12 Juillet, 2019, 12:39 | Auteur: Auguste Feret
Powell indicated during his prepared remarks before Congress Wednesday that a rate cut is impending due to worldwide economic turmoil. "Inflation pressures remain muted".
"Facebook has a couple billion plus users, so I think you have for the first time the possibility of very broad adoption", he said.
"Chairman Powell, thank you for your service, thank you for your work to keep the Federal Reserve independent of both parties and do your job for what it was set up to be", he said.
The dollar index.DXY against a basket of six major currencies stood little changed at 97.081 after retracing much of its losses on Thursday, when it had briefly stooped to a six-day low of 96.795.
Some surveys have suggested the manufacturing sector is creaking under stress from the trade war with China, with US firms contending not only with the cost of President Trump's import tariffs but also a deterioration of the global economy that is threatening domestic and worldwide demand. The yield on the 10-year Treasury note fell slightly 2.046%, and the yield on the 2-year slipped to 2.205%. Meanwhile, interest rate futures appeared to price in greater odds of an aggressive rate cut of half a percentage point in July. We can measure whether a rate cut is being priced-in by examining the difference in borrowing costs for commercial banks over a specific time horizon in the future.
Housing, autos drive USA inflation higher in June
The Federal Office of Statistics (Destatis) confirmed that consumer prices rose by 0.3% on the month and 1.6% on the year in June. The central bank last month downgraded its inflation projection for 2019 to 1.5% from the 1.8% projected in March.
Several policymakers thought rates should be lowered to "cushion the effects" of adverse shocks from events such as U.S. disputes with trading partners and to firm up inflation that is failing to meet the United States central bank's 2 per cent annual target, the minutes showed.
"The Fed has never disappointed a market with such strong expectations of action", Joseph Lavorgna, chief economist for the Americas at Natixis, wrote in a recent analysis. The market also began to price a 58% chance of a 50-basis point cut.
He said the Fed has established a working group to follow the project and is coordinating with other central banks across the globe. May's 2.3% year-over-year increase in PPI, excluding food and energy prices, had been the slowest rate since January 2018.
Though US economic growth remains largely on track, and the jobs report for June showed continued strong hiring, the events of May changed US trade policy from something of a sideshow in the Fed's view to a central concern. "The uncertainties around global growth and trade continue to weigh on the outlook".
This means a July rate cut is nearly certain, by at least 25 basis points, maybe even more, but even James Bullard, the noted dove and St. Louis Federal Reserve President in a speech at the same time as Powell's stated that 50 basis points would be "overdone" and that a 2nd cut later in the year should be enough.
Sport report that Ligue 1 side Bordeaux have offered Koscielny a three-year deal, while Rennes and Lyon are also interested. " We are very disappointed by Laurent's actions , which are against our clear instructions", Arsenal said in a statement.
Djoko, et ses deux autres compères du "Big 3", possèdent cette capacité à hausser considérablement leur niveau de jeu en Majeur. Malgré les coups de butoir sur service de l'Argentin, c'est bien le second nommé qui l'a emportée (7-5, 6-4, 3-6, 6-3).
In court papers, Kelly's team argued that Foxx's handling of the Smollett case show that she could be "influenced and wowed". In addition, a 13 count indictment was given by a federal grand jury in Chicago for receiving and creating child porn.
The 15-time major champion is credited with singlehandedly pushing the limits of what is expected of the modern golfer. This isn't the first time Woods' sleep habits have become a topic of discussion this year.
The names believed to be the most likely to move include Loui Eriksson, Brandon Sutter, Sven Baertschi and Chris Tanev. The Canucks will be pressed up close to the salary cap after they re-sign Brock Boeser, who is a restricted free agent.
Among the other additions include a hitter's ability to now "steal" first base when a catcher doesn't receive the ball on the fly. More often than not when a hitter checks his swing, the pitch will be deemed a ball instead of a strike.
But first Williams must overcome the Czech Republic's Barbora Strycova to set up a showdown with Halep in Saturday's final. The easy manner in which former world number one Halep wrapped up the match had not looked on the cards at the outset.
Charming Charlie's announcement adds to what has been a disastrous year for retail operations in the United States. Charming Charlie plans to close all of its 261 stores in 38 states, according to published reports Thursday.
Algeria have been strong as an attacking unit in the competition, with much of their threat coming from the flanks. Moreover four of Algeria players in the 2019 squad were on the bench in 2015 without taking part in the game.
The health officials in Florida said wild animals around the southwest Orange County are affected by the infection. Raccoons, bats, foxes, skunks, otters, bobcats, and coyotes are all particularly susceptible to rabies as well.
James Dyson s'offre l'appartement le plus cher de Singapour
Il occupe les trois derniers étages de la plus grande tour de la ville (290 mètres) qui en compte 64 dans le quartier d'affaires. L'inventeur britannique a déboursé la somme de 48 millions d'euros pour s'offrir le penthouse le plus cher de Singapour.
Pooja Batra ties the knot with Nawab Shah
He shared a picture and gave a caption, "It took 46 years for my soul to be Ready, and then my mate appeared. The couple is soon expected to register their marriage according to reports by Mumbai Mirror .
Highlights | Round 1 | John Deere 2019
Martin Laird was another stroke back at 65 with Ryan Palmer , Andrew Landry , Vaughn Taylor , Zack Sucher and Ryan Blaum . Twenty-year-old rookie Matthew Wolff, who picked up his first career win at the 3M Open last week, opened with a 67.
India's heavy rocket 'Bahubali' gearing up for Moon
Chandrayaan, which means "moon vehicle" in Sanskrit, exemplifies the resurgence of global interest in space. This includes a terrain mapping camera to map the lunar surface and collect data on the moon's evolution.