Economy

Stock markets steady as focus turns to Fed rate decision

Stock markets steady as focus turns to Fed rate decision

Indeed, the European Central Bank said on Wednesday the United States would have the most to lose if it started a trade war with other countries, while China would be better off after retaliating.

"We don't see it in the numbers", he said at a press conference in Washington after the meeting. But the gains faded in the last 30 minutes of trading after Fed Chairman Jerome Powell finished speaking at a news conference.

The US economy is humming with unemployment near multi-decade lows, inflation back at target and GDP growth the fastest it's been in years. "We expect the Fed to call time on rate hikes and ultimately begin cutting rates by early 2020".

The central bank boosted the lending rate to 2.0 percent to 2.25 percent, a quarter-point increase in the target range, and more are on the way, with no hint of a pause.

Saudi Arabia's central bank said it was raising its reverse repo rate by 25 bps to 2.25 per cent, and its repo rate by the same margin to 2.75 per cent. Bahrain's central bank raised its interest rate on its one-week deposit facility to 2.5 per cent from 2.25 per cent. Kuwait said it is keeping its key discount rate unchanged at 3 per cent.

Ford on why she decided to take a polygraph test
Asked about reports in which two other men have claimed they, not Kavanaugh, attacked Ford, Guerry said, "It's not possible". Swetnick, a resident of Washington , D.C., said she was a graduate of Gaithersburg High School in Maryland.

"In light of the economy's impressive growth momentum, the upward trends in wage and price inflation, and the limited overall tightening in financial conditions achieved so far, on net we think the risks to the funds rate are tilted to the upside", Goldman Sachs economists Jan Hatzius and others wrote in a preview of this week's Fed meeting.

U.S. gross domestic product grew at an annual pace of more than 4% in the second quarter of this year, and the unemployment rate continues to hover below 4% - near historic lows. The Fed seeks to slow the economy when it reaches full employment to prevent a tight job market from raising inflation too high. The Fed is widely expected to raise rates again in December.

In the statement's only change from the previous one issued August 1, the committee dropped its long-standing description of monetary policy as "accommodative".

The relative calm of the markets' responses to the latest US Federal Reserve Board interest rate hike, its foreshadowing of another later in the year and three more next year points to a level of complacency not borne out by the Fed's economic projections.

"I'm anxious about the fact that they seem to like raising rates", he said.

Trump calls Kavanaugh allegations ‘a big, fat con job’
Trump said he was "OK with that", but again defended Kavanaugh as a "gem" and said that Democrats are treating him unfairly. And he said he may delay their highly anticipated Thursday meeting to avoid distracting from the Kavanaugh hearing.

"We have more room to run in this economic cycle", said Jon Adams, senior investment strategist for BMO Global Asset Management.

By removing that language, the Fed may be signaling its resolve to keep raising rates.

With signs of inflation mounting, albeit gradually, as the economy continues to grow and unemployment is flirting with historic lows, economists say the arrows are all nudging policymakers to stick with their plan of steady rate hikes.

"If you're a saver, higher interest rates are good. We don't consider political factors or things like that", Powell told reporters.

The biggest risk? Cashing out home equity to pay down debt, but then as soon as you are even, digging another financial hole and not having anything left to tap.

Mourinho wants the Manchester United board to back him over Pogba feud
Pogba previously played in the Scottish Premiership with Partick Thistle, in League One with Crawley Town and in Serie B with Pescara.

The rate is seen rising to 3.1 percent in 2019 - the same as the last forecast - which indicates three more moves, as inflation is expected to hold at the Fed's goal of two percent.


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