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MercoPress, en Español

Montevideo, May 3rd 2024 - 13:20 UTC

Tag: Federal Reserve

  • Wednesday, July 18th 2018 - 07:33 UTC

    Jerome Powell admits trade policy could complicate Fed's forecasts

    Powell said US economy is expected to remain strong, but trade could complicate Fed's forecasts: it is difficult to predict the ultimate outcome of current discussions

    A trade war with China, the European Union and other trading partners is casting some doubts about the U.S. economic future, Federal Reserve Chairman Jerome Powell said on Tuesday. And the longer it goes, the more potential harm it could cause, Powell told the Senate Banking Committee at a hearing about the Fed's monetary policy and the economy.

  • Thursday, May 31st 2018 - 08:12 UTC

    Fed proposes simplifying trading rules for foreign banks and funds

    The Fed alongside other U.S. regulators, proposed rewriting the “Volcker Rule” introduced following the 2007-09 financial crisis

    Foreign banks and funds are set to benefit from a move by U.S. regulators to simplify a trading rule that foreign banks and regulators say has inadvertently complicated firms operating as far afield as Europe and Asia. The Federal Reserve, alongside other U.S. regulators, on Wednesday proposed rewriting the “Volcker Rule” introduced following the 2007-2009 financial crisis in a bid to simplify the regulation and make it easier for banks to comply.

  • Thursday, May 24th 2018 - 07:12 UTC

    May Fed minutes suggest a rate hike would soon be appropriate; next meeting in mid-June

    The minutes of the Fed's May 1-2 meeting released on Wednesday showed that officials were generally upbeat about the prospects for the United States economy. (Pic Bloomberg)

    Federal Reserve officials earlier this month suggested that another rate hike was on the way soon, while also noting several risks facing the economy, ranging from rising wage pressures to potential harm from the Trump administration's trade policies.

  • Wednesday, May 9th 2018 - 07:10 UTC

    Latin American (and global) currencies hit by strong dollar and Trump's policies

    The market’s attention was on President Donald Trump’s decision to withdraw from the international nuclear agreement with Iran, a deal which eased economic

    The dollar hovered near a four-month high on Tuesday, continuing to draw support from higher Treasury yields and upbeat prospects for the U.S. economy, leaving its major rivals such as the Euro struggling and other Latin American currencies including the Argentine peso down sharply.

  • Wednesday, May 2nd 2018 - 20:45 UTC

    Fed leaves rates unchanged, confirms inflation near 2% target; hike expected at June meeting

    Jerome H. Powell chaired the Federal Open Market Committee, which voted unanimously the policy action. Next meeting in June 12/13

    The Federal Reserve on Wednesday left its benchmark interest rate unchanged, confirmed that inflation is near its 2% target, and strangely enough did not mention a word about the looming international trade confrontation. The central bank after a two-day meeting said inflation over the next 12 months should “run near” the 2% target, updating its language from March that indicated inflation would “move up” towards that level.

  • Thursday, March 22nd 2018 - 22:22 UTC

    Bank of England leaves rates unchanged for now, waiting for more Brexit data

    BOE said a majority of officials on its nine-member Monetary Policy Committee agreed to keep the central bank's benchmark interest rate steady at 0.5%

    The Bank of England signaled on Thursday that it remains on course to lift interest rates in Britain this year and next, as figures showed a yearlong squeeze on consumers caused by a steep fall in the pound appears to be coming to an end.

  • Wednesday, March 21st 2018 - 20:25 UTC

    Powell's Fed confirms gradualism: anticipates 5 more modest rate increases in next 21 months

    Jerome Powell said the Fed expects to increase rates twice more this year, and in 2019 from two to three, reflecting on faster growth and lower unemployment.

    The Federal Reserve is raising its benchmark interest rate to reflect a solid U.S. economy and signaling that it's sticking with a gradual approach to rate hikes for 2018 under its new chairman, Jerome Powell. The Fed said it expects to increase rates twice more this year. At the same time, it increased its estimate for rate hikes in 2019 from two to three, reflecting an expectation of faster growth and lower unemployment.

  • Wednesday, February 28th 2018 - 09:53 UTC

    Fed chairman Powell anticipates gradual interest rate increases despite larger government spending

    “FOMC will continue to strike a balance between avoiding an overheating economy and bringing ... price inflation to 2 percent on a sustained basis,” Powell said

    Federal Reserve Chairman Jerome Powell, pledging to “strike a balance” between the risk of an overheating economy and the need to keep growth on track, told U.S. lawmakers on Tuesday that the central bank would stick with gradual interest rate increases despite the added stimulus of tax cuts and government spending.

  • Wednesday, February 7th 2018 - 15:23 UTC

    Powell becomes chairman of the Fed in a turbulent trading day

    President Donald Trump picked Powell after deciding to break with recent tradition by not offering Yellen a second four-year term.

    Jerome Powell was sworn as the 16th chairman of the Federal Reserve on what turned out to be a turbulent day for Wall Street, with the Dow Jones industrial average plunging by more than 1,100 points. Powell, 65, was given the oath of office by Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that took place before stock trading opened on Wall Street.

  • Thursday, December 14th 2017 - 13:54 UTC

    Federal Reserve increases interest rate by a quarter of a point

    The Fed's rate-setting committee said, as it announced the latest decision, that economic growth and job gains had been “solid”

    The US Federal Reserve has increased interest rates by a quarter of a percentage point - the third rate hike this year. It comes as Fed chair Janet Yellen prepares to leave the role
    after Donald Trump decided to replace her.