Fed's Powell says politics play no role in interest-rate decisions
Fed's Powell says politics play no role in interest-rate decisions
Powell: Fed ‘not forecasting or expecting a recession’
10 September, 2019, 14:33
His comments cemented expectations for another quarter-percentage-point cut in interest rates later this month.
Federal Reserve Chairman Jerome Powell speaks during the "The Economic Outlook and Monetary Policy" panel discussion hosted by the Swiss Institute of International Studies at the University of Zurich in Zurich, Switzerland September 6, 2019. "Trade policy uncertainty is not something that central banks have a lot of practice in dealing with". "We're going to continue to act as appropriate to sustain this expansion".
Powell's remarks reinforced investors' expectations for a quarter percentage-point cut when USA central bankers gather in Washington Sept. 17-18.
Former Fed official Bill Dudley, former head of the Fed's NY regional bank, had made that suggestion in an opinion piece last month.
Federal Reserve Chairman Jerome Powell stressed the importance of independent monetary policy on Friday, hours after President Donald Trump lashed out at the central bank in a series of particularly harsh tweets. But he did not.
Gold traded lower early in the session as Treasury yields rose along with demand for risky assets, and the U.S. Dollar firmed, making the dollar-denominated asset less-appealing.
"The most likely outlook for our economy remains a favourable one with moderate growth, a strong labor market and inflation moving back up close to our 2% goal, " Powell said during a question and answer session.
US stocks remained higher and Treasuries were mixed as Powell spoke, with the S&P 500 adding to a second straight weekly gain.
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Kim Kardashian West feared she had lupus Momager Kris Jenner , and sisters Khloe Kardashian and Kylie Jenner gathered around to comfort a distraught Kim. However, she insists that was a one-time thing and SKIMS is much more comfortable and wearable.
The US Department of Labor on Friday reported that employers added 130,000 new jobs in August, somewhat undershooting economists' estimates and adding to fears of a weakening economy.
Repeating his message from Jackson Hole, Wyo., Powell said there are "significant" downside risks facing the economy and said the Fed is going to monitor all these factors.
Instead, on Friday he turned to a concept, the future path of interest rates which was used in the Fed's July statement, when it announced the first rate cut since 2008.
"We have seen this meme over and over and over and yet tariffs keep marching higher and higher and higher", Michael Every, senior Asia-Pacific strategist at Rabobank, said in a research note.
Powell noted that trade uncertainty has served as a drag on business investment, and promised the Fed would do whatever it could to continue to support the United States economy.
"We serve all Americans regardless of their political party", Powell said. "The idea that we would deviate from that is just simply wrong".
Federal Reserve Chairman Jerome Powell on Facebook's plans for the Libra cryptocurrency. Powell said it could quickly become systemically important because of the huge scale of the social-media giant's network.
However, he cautioned that Libra still had to win over a majority of its critics, with Libra potentially damaging the financial landscape of the industry if it was not held to the highest standards of regulatory and supervisory expectations.
Amon projected that expanding the company's 5G across its product line will make 5G accessible to more than 2 billion users. As for smartphones with Snapdragon 600 series featuring 5G support , we'll have to wait till the second half of 2020.
They put Marcus Smart on Giannis and even though he much smaller, Smart might be the most versatile defender in the world. Thanasis Antetokounmpo , Giannis' brother, fouled Harrison Banes really hard on a breakaway dunk.
The Dolphins are 5-0 against the spread in their last five games played in Week 1 and are 6-2 ATS in their last eight home games. Jackson only rushed the ball for six yards and threw for 324 yards and five touchdowns. "I barely had pressure", Jackson said.
He scored four tries against Western Samoa in the quarter-finals before tasting glory in the final win over New Zealand. Williams played 27 times for the Springboks, making his debut as a winger in 1993.
He said the world "needs to believe that the Chinese people have the ability and wisdom to handle their own matters well ". While Merkel's government has echoed USA complaints, it objects to Trump's tactics, which he has also used against Europe.
But the annual increase in wages is seen dipping to 3.1% from 3.2% in July as last year's surge falls out of the calculation. Friday's jobs report also revised the employment gains in June and July, lowering them to 178,000 and 159,000 respectively.
State and federal officials urge people to people should avoid vaping illicit THC products while the investigation is ongoing. USA health officials say they've identified 450 possible similar illnesses in 33 states.
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And before that he referred to mass shootings in El Paso, Texas, and Dayton, Ohio, as having taken place in Houston and MI . As Patricia Pustell, chairwoman of the Greater Ossipee Democrats, says, it's time for "new blood and new leadership".
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If it can be put off until December, that would give the party a few more weeks to develop a policy that doesn't sound ridiculous. The government has failed for a second time to get MPs to agree to an early general election.