Fed's Williams says case for a U.S. rate cut is stronger
Fed's Williams says case for a U.S. rate cut is stronger
Fed’s Bostic: H1 growth stronger than expected
12 July, 2019, 10:26
Federal Reserve Bank of Atlanta President Raphael Bostic told reporters after a speech in Atlanta he's skeptical of the need to cut rates, adding "I am not seeing the storm clouds generating a storm yet".
Powell's statement Wednesday boosted the USA stock market as it confirmed for many investors their expectations that the Fed will cut short-term rates for the first time in a decade at its next meeting in late July.
He said that many Fed policymakers "saw that the case for a somewhat more accommodative monetary policy had strengthened".
At least a couple regional Fed bank presidents do support a rate cut, including St. Louis Fed Bank President James Bullard, and Minneapolis Fed President Neel Kashkari who on Thursday said he is advocating the "stronger medicine" of a half-percent rate cut.
Though the threatened tariffs on Mexico never materialized and China and the United States have agreed to resume talks to reach a trade deal, that "did little to alleviate the uncertainty that Fed officials believe is contributing to cooling momentum in global trade and domestic capex plans", Deutsche Bank's USA economics team wrote this week.
His about-face coincides with heightened trade tensions between the United States and China, and what can only be described as social media bullying by Mr Trump, pushing the central bank to cut rates. "But they are cautious.They haven't stopped, they've just slowed".
The U.S. economy did not change much in the days that followed Trump's May 30 comments on Twitter threatening to impose tariffs on Mexico unless the country met his demands for tougher controls on immigrants crossing its northern border.
CBA customers complain of Eftpos outages The spokesperson also said the cause of the problem is not internal but due to "one of [its] telecommunication providers". Commonwealth Bank of Australia said some services are back to normal and it thanked customers for their patience.
The Fed, which hiked rates four times past year, has kept its current benchmark overnight interest rate in a range of between 2.25% and 2.50% since December.
Powell will return to Congress tomorrow to testify before the Senate Banking Committee.
Investors expect that cut with near 100% certainty.
In prepared remarks released before the hearing, Powell contrasted the Fed's "baseline outlook" of continued US growth against a considerable set of risks - including persistently weak inflation, a slowdown in other major economies, and a downturn in business investment driven by trade risks.
But he added that his analysis of inflation expectations, based on surveys of professional forecasters and business executives, left him unconvinced that expectations are slipping.
With the Fed's current preferred measure of inflation running at 1.6%, below the 2% target, some policymakers argue the central bank needs to do more or risk losing public trust that it takes the target seriously. Bostic said he is going to go into the July Federal Open Market Committee meeting with an open mind. "We have issues around inflation expectations being soft, and obviously inflation data continuing to run below 2%".
In one of those cases, Labour claims the program deceptively edited the content of an email sent by Milne to change the meaning. Dan Hogan, who was an investigator in the disputes team, raised issues about Ms Formby - the most senior employee in the party.
One of the more impressive parts of the line, however, is the agreement West struck in 2013 to move Yeezy from Nike to Adidas. West also mentioned that he ultimately aims for the buildings to become affordable housing - potentially for the homeless.
Flight AC33 departed Vancouver International Airport late Wednesday night bound for Sydney with 269 passengers and crew onboard. The turbulence happened at 36,000 feet (10,973 meters) about 600 miles (966 kilometers) southwest of Honolulu, said U.S.
It was the Queen's long-time aide Paul Whybrew - still employed by the Queen to this day - who came to the rescue. A man reportedly climbed over the front gates of the palace, banging down the doors of the royal residence.
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The mission now is targeted to launch in April 2021 on a Falcon 9 rocket from Launch Complex 39A in Florida , NASA said. The estimated cost of the launch is $50.3 million, making it a relatively cheap project by NASA standards.
The new range of iPhones are expected to feature OLED displays with varying screen sizes of 5.4-inches, 6.1-inches and 6.7-inches. Apple changed how phones were designed when it released the iPhone X in 2017 and introduced the world to the notched displays.
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This was supposed to be taking the club forward and I never got that chance - and that still rankles with me". The next season they spent £100million [with his successor Marco Silva in charge] and finished eighth'.
This was a complete display by England, who were magnificent with the ball, sharp in the field and dominant with the bat. The hosts will have the chance to lift the trophy for the first time when they meet New Zealand at Lord's on Sunday.
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