The US Federal Reserve raised the benchmark lending rate on Wednesday, the second increase of the year, and signaled it will be more aggressive about rate increases this year and next amid “strong” economic growth. The unanimous vote brings the federal funds rate to a range of 1.75 to 2%, but the quarterly economic forecasts show central bankers now expect the rate to end the year at 2.4% rather than the 2.1% projected in March.Add your comment!
Brazil's inflation rate unexpectedly slowed in April and kept far below the official target, suggesting a recent period of currency weakness is unlikely to keep the central bank from cutting interest rates next week.
The United States Federal Reserve Board announced that it has fined The Goldman Sachs Group, Inc., US$ 54.75 million for the firm's unsafe and unsound practices in its foreign exchange (FX) trading business.
The 10-year U.S. Treasury yield has broken through the psychologically important level of 3%, leaving analysts contemplating what it could mean the future of asset markets and, more importantly, the global economy. The yield on the benchmark bond — which helps to set prices for debt instruments all over the world — inched past 3% on Tuesday, a level that many market players deem dangerous for investments and the economy.
United States Federal Reserve officials grew more positive on the economic outlook, citing “substantial underlying economic momentum,” and were increasingly optimistic about achieving their inflation target, according to minutes of last month’s policy meeting.
The U.S. Federal Reserve is likely to continue removing policy accommodation gradually and could hike rates three times this year, Dallas Fed President Robert S. Kaplan told a business conference in Frankfurt on Thursday.
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.
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.
Prices in the United States rose by less than expected last month, as inflation in the economy remained tame. The Labor Department's Consumer Price Index (CPI) inched up 0.1% last month, only a slight improvement on a stagnant June figure. Economists polled by Reuters had expected a 0.2% month-on-month increase.
United States President Donald Trump named two possible candidates to run the Federal Reserve over the next few years: current Fed Chair Janet Yellen and Trump's economic adviser Gary Cohn, according to an interview with The Wall Street Journal.