Federal Reserve Board Chairman Jerome Powell speaks at a news conference in Washington on June 19
12 July, 2019, 12:43
On the positive side, buyers followed through to the upside after yesterday's surge was fueled by dovish comments from U.S. Federal Reserve Chairman Jerome Powell. Below are some key takeaways, per Reuters.
At their June policy meeting, Fed officials had signaled those concerns might warrant lower rates, and "since then, based on incoming data and other developments, it appears that uncertainties around trade tensions and concerns about the strength of the global economy continue to weigh on the USA outlook", Powell said.
"The dollar bounced back as the strong U.S. CPI got the market to question the Fed's view on prices and whether inflation was really as weak as projected", said Takuya Kanda, general manager at Gaitame.Com Research Institute.
Asked during the hearing whether his future policy decisions will be influenced by political pressure, Powell adamantly denied that they would, and said he would not step down if asked to do so by the president.
"If last Friday's strong payroll report and a pause in the US-China trade war post-G20 didn't change the Fed's thinking on a July cut, we doubt today's modest upside surprise on core inflation will do the job", says Josh Nye at RBC Capital Markets.
Earlier rounds of U.S. tariffs on trading partners - including China - had been dismissed as of little macroeconomic importance, with the Fed in early May still anticipating its policy rate would remain unchanged for the rest of the year.
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.
On Wednesday, the Fed will conclude its two-day meeting, during which it's widely expected to leave interest rates unchanged as it opens the door for a cut in July.
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Barr won't recuse himself from NY Epstein case Former President Bill Clinton praised his intellect and philanthropic efforts and was a frequent flyer aboard his private jet. Trump said he had a "falling out" with the businessman more than a decade ago.
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.
Although many anticipate rate cuts, certainty wavered last week after the Labor Department reported that the economy added 224,000 jobs to the economy in June, eclipsing forecasts of 165,000.
"Manufacturing, trade and investment are weak all around the world".
Though the threatened tariffs on Mexico never materialised and China and the U.S. 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 United States economics team wrote this week.
"We don't have any evidence for calling this a hot labour market", Powell told lawmakers. "To call something hot we need to see some heat".
The congresswoman, a relentless Trump critic, also stated that "the president doesn't have the authority to fire [Powell], and should he be asked to go he's not going anywhere", she said.
He replied: "What I have said is the law gives me a four-year term and I fully intend to serve it". Furthermore, Powell is set to testify for a second day.
Lower interest rates decrease the opportunity cost of holding nonyielding bullion and weigh on the dollar, making gold cheaper for investors holding other currencies.
The greenback was down 0.5 per cent at 107.960 yen, forced off a six-week high of 108.990 scaled the previous day. Two-year yields dropped two basis points to 1.81% in Asian trading after sliding eight basis points on Wednesday.
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.
Here, Megan Rapinoe smiles as she holds the FIFA Women's World Cup trophy as the team arrives at the Newark International Airport. The winning team were met with a ticket tape parade in New York City, followed by a ceremony outside City Hall.
AT&T says it identifies fraud and spam calls "through data analytics and network blocking, as well as reports from customers". The app allows users to detect suspected spam calls, manage a list of blocked numbers and receive enhanced caller details.
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'.
Just a small glass of juice or soda a day can reportedly increase a person's overall risk for cancer by almost 20 percent. She added: "More research is needed to understand if there is a direct link between sugary drinks and cancer ".
If no team can defend the flag for three seconds, the team with the most health on their players wins a point. The flag will only spawn though if one or both players of each duo are still alive when Overtime starts.
He said that many Fed policymakers "saw that the case for a somewhat more accommodative monetary policy had strengthened". Powell will return to Congress tomorrow to testify before the Senate Banking Committee.
This attraction, which opened in 2012 and receives up to 6,000 visitors a day, is said to be unaffected by the blaze. The studio, which is where the Harry Potter movies were made, is also the home of the Harry Potter studio tour .
- The GPU in the "New" Switch is clocked at higher values than Switch Lite , potentially giving a modest performance boost. Bear in mind that the Joy-Cons of this portable version aren't a thing; the controls are integrated into the system itself.
In an intense interview with Gayle King for CBS This Morning in March, Kelly spoke out on the allegations against him. Kelly has been the subject of abuse allegations for almost two decades, with some reports dating back as far as 1998.
Although, it will be argued that he was dismissed by a sensational catch from James Neesham, he didn't look comfortable out there. The top-order that fetched the major chunk of runs (1347) was too good during the league stage that one major implosion was due.
India set to launch Moon rover and orbiter
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Valve launches Steam Labs, focusing on experimentation
Finally, there's the Automatic Show , which is kind of like a video showcase you'd see at press conferences for events such as E3. They could be tweaked, significantly changed, or outright dropped at any moment based on the whims of Valve and user feedback.
New Zealand stun India to reach Cricket World Cup final
Hours after the heartbreaking exit from the tournament, Rohit Sharma took to Twitter to leave a handsome message for the fans. But Dhoni's dismissal basically blew any chance that India had of reaching the final and it left several fans disappointed.
Pokemon Sword and Shield Version Exclusive Pokemon
Similar to Mega Evolution and Z-Moves, this feature is to be used strategically during dire situations or to keep your advantage. The trailer showed what appeared to be Alcremie or part of its evolutionary line Gigantamaxing into a giant wedding cake.
Jay Powell disagrees with Donald Trump on almost everything
The U.S. went off the gold standard 48 years ago, and most modern economists agree that the idea would wreak havoc on the economy. Last year, the Federal Reserve increased interest rates to prevent inflation, a move Trump has claimed has hurt the USA economy.
‘We do not believe Labour has the will to stop antisemitism’
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.
Kanye West on creating a sustainable design for Yeezy shoes
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.
Chargers' Gordon wants trade if no deal
The Chargers were one of the better teams in football a year ago in large part due to Gordon on the ground and through the air. Though he has battled some knee injuries, he has been one of the most productive backs in the league when healthy.