Thursday, 24 January, 2019

Fed's Powell again stresses patience as United States economy's 'narrative' unfolds

Dow Jones Industrial Average Last 5 Days Source TradingView Dow Jones Industrial Average Last 5 Days Source TradingView
Russell Knight | 11 January, 2019, 14:25

Why? Powell said recent recessions have been caused by the Fed having to "hit the brakes" to combat high inflation or "asset bubbles".

"We don't see those risks", the Fed leader said.

"We are in a place where we can be patient and flexible and see what does evolve", Powell said.

He also anxious about the lack of key economic statistics during the government shutdown that the Fed uses to take the temperature of the economy.

That prospect has cheered markets, which had grown anxious that the Fed was not taking into account a variety of headwinds that could slow US growth this year. There is good momentum going into this year. The principal worry is global growth, he said in questioning by David Rubenstein, the co-founder of private-equity firm Carlyle Group, where Powell was previously a partner.

"If we find that the ongoing program of balance sheet normalization or any other aspect of normalization no longer promotes the achievement of our dual-mandate goals, we will not hesitate to make changes, " Clarida said.

"It'll be substantially smaller than it is now. but nowhere near where it was before", Powell said of the balance sheet, which began shrinking in October 2017.

In contrast, his remarks in his three previous appearances since late November moved stocks an average of 2.4 per cent in either direction, and his comments last Friday spurred the largest market reaction yet to any of his 17 public appearances since taking office last February.

United States bus driver rescues child found wandering barefoot
By the time firefighters and police officers arrived, the girl, who was less than a year old. had fallen asleep in Ivic's arms. Ivic pulled her bus over, crossed the busy street, picked the infant up, and called for help.

Apple gives Cook a bonus
In his letter to investors, Cook blamed much of the shortfall on China, where the company underestimated a decelerating economy. Apple executives have said in the past that the company's goal is to hit $US50 billion in services revenue by 2021.

Galaxy S10 will have the same battery as the Galaxy Note 9
A lack of new features and bland design choices made the two smartphone looked like minimal upgrades that deserved to be skipped. Are you waiting for the Galaxy S10 launch? Other devices and leaks have come to light from other manufacturers using this design.

Powell also noted that it's a problem that the Commerce Department is mostly shuttered, which means key economic data such as retail sales and growth in gross domestic product won't be released later this month unless the government reopens.

Moving ahead, today's United States economic docket, highlighting the release of the latest U.S. consumer inflation figures, will influence the Dollars price dynamics and produce some meaningful trading opportunities later during the early North-American session. Big picture: "they don't have that much further to go and they don't have to go there fast", said Robert Tipp, chief investment strategist with PGIM Fixed Income in Newark, New Jersey.

"We do not take political factors into consideration in our discussions or decisions at all".

But when Rubenstein asked if he'd be happy to accept an invitation, Powell simply repeated: "I'm not aware of anyone not accepting it".

At the same time, Powell said there are concerns in financial markets about slowing global growth and rising trade tensions.

The Fed last increased its base rate in December, the fourth...

"There are some who seem determined to talk us into a downturn", Thomas J. Donohue, president of the US Chamber, said in a speech Thursday. "We're waiting and watching".

Recommended

After Hardik Pandya, Twitter Attacks Ranveer for ‘Sexist’ Remarks After Hardik Pandya, Twitter Attacks Ranveer for ‘Sexist’ Remarks With suspension pending inquiry, it remains to be seen now if Rahul and Hardik stay with the team or they are sent back home. The episode was aired this Sunday on Star World and was available on Star's OTT platform Hotstar .

New Mercedes-Benz CLA: second-generation model revealed! New Mercedes-Benz CLA: second-generation model revealed! The all-new Mercedes-Benz CLA-Class has just been unveiled at the ongoing 2019 Consumer Electronics Show (CES) in Las Vegas, USA. As for the multimedia system, the 2020 CLA gets the latest version of the Mercedes-Benz User Experience (MBUX) system.

Mourinho free to return to Real Mourinho free to return to Real Manchester United paid Jose Mourinho's £15 million (about R265.5 million) compensation package immediately after he was sacked. The Galacticos were beaten 2-0 by Real Sociedad on Sunday as they slipped 10 points behind leaders Barcelona .

West Ham tell Arnautovic to honour contract West Ham tell Arnautovic to honour contract The Hammers have had a long-term problem with their search for a striker and the latest target may be the man to put an end to it. Arnautovic has been a key performer under Manuel Pellegrini this season, scoring seven times in 15 Premier League appearances.

Jayme Closs found alive! Jayme Closs found alive! They found the victims, but Jayme was not there and no gun was found, the Barron County sheriff said at the time. The Barron County Sheriff's Department confirmed Thursday evening (US time) she was found alive.

AT&T defends misleading "5G" network icons on 4G phones AT&T defends misleading T-Mobile, for example, trolled AT&T with a video clip on Twitter that shows someone placing a "9G" sticker on their smartphone. Donovan said the 5G E icon will be used in 400 markets across the USA where AT&T has deployed advanced LTE technologies.

Michael Cohen To Testify Publicly In Front Of House Oversight Next Month Michael Cohen To Testify Publicly In Front Of House Oversight Next Month They now hold the chairmanship of committees with the power to hold hearings, inviting or forcing witnesses to testify in public. His testimony will be the first major public hearing for Democrats, who have promised greater scrutiny of Mr Trump.

National Enquirer Publishes Alleged Texts Between Jeff Bezos and 'Mistress' National Enquirer Publishes Alleged Texts Between Jeff Bezos and 'Mistress' Sources told the New York Post that Bezos and Sanchez began hooking up in early 2018 after separating from their spouses. However, Bezos' wife, MacKenzie, knew the two were dating, the Post quotes an unnamed person close to Bezos as saying.

How will Matt LaFleur coach Aaron Rodgers? See Ryan, Matt How will Matt LaFleur coach Aaron Rodgers? See Ryan, Matt Murphy said the council talked about a sense of complacency that had settled in among certain players this past season. General manager Brian Gutekunst said once they zeroed in on LaFleur, they had Rodgers reach out to him.

Hubble Takes Gigantic Image Of Triangulum Galaxy Hubble Takes Gigantic Image Of Triangulum Galaxy But just a little farther - okay, 500,000 light-years farther - is another spiral galaxy, the third largest in our local group. The new Hubble image shows two of the four brightest of these regions in the galaxy: NGC 595 and NGC 604.

English model Jasmine Lennard vows to expose Portugal worldwide Cristiano Ronaldo English model Jasmine Lennard vows to expose Portugal worldwide  Cristiano Ronaldo Ronaldo, 33, said rape was "an abominable crime that goes against everything that I am and believe in". A key piece of evidence in the investigation is a dress from the night in question nine years ago.

Bjorn: Ryder Cup captain Harrington ‘highly respected by all’ Bjorn: Ryder Cup captain Harrington ‘highly respected by all’ The 47-year-old was part of Europe's last three Ryder Cups as vice-captain and featured in the tournament six times as a player , finishing on the winning side on four occasions.

Tim Tebow engaged to Demi-Leigh Nel-Peters Tim Tebow engaged to Demi-Leigh Nel-Peters Nel-Peters, 23, also posted some photos for her 1.3 million followers. "I actually wasn't really nervous", Tebow said to People . The Big Lead's PM Sports Roundup, which is now America's most eligible bachelor now that Tim Tebow is off the market.

U.S. acknowledges threat to Turkey from terrorists, Pompeo says U.S.  acknowledges threat to Turkey from terrorists, Pompeo says The trip comes amid confusion over conflicting Trump administration statements about a planned US troop withdrawal from Syria . Secretary of State Mike Pompeo meets with Egyptian President Abdel Fattah al-Sisi in Cairo, Egypt , January 10, 2019.

ExxonMobil and IBM to Advance Energy Sector Application of Quantum Computing ExxonMobil and IBM to Advance Energy Sector Application of Quantum Computing So, it might not be that powerful and more optimizations would be on its way. Bob Sutor, the VP of IBM Q Strategy and Ecosystem.