Fed sees no strong case for hiking or cutting rates

BP_Federal

U.S. President Donald Trump is at it again - urging the Federal Reserve to cut interest rates and spur economic growth.

Senator Joni Ernst of Iowa hardened her opposition after the emergence of articles and speeches by Moore over the years, some of which have been criticized as sexist or trafficking in racism. It's not planning to raise interest rates, following its latest policymaking meeting, which is bullish for stocks and might help keep President Trump's blood pressure down.

He gave two interviews published within an hour of Trump's tweet saying he was staying in the race, and that a White House official had encouraged him to remain.

Silver was down 0.1 percent at $14.66 an ounce, holding close to a more than four-month low touched on Wednesday.

Fed Chairman Jerome Powell is scheduled to hold a press conference at 2:30 p.m. EDT (1830 GMT).

However, for now, the Fed chief said that low inflation allows the central bank to be "patient" in deciding on any further changes to its overnight benchmark lending rate, which it left in a range of 2.25 percent to 2.5 percent.

US stocks eased further from recent record highs on Thursday as energy shares dropped along with oil prices and investors continued to digest comments by Federal Reserve Chairman Jerome Powell. It is not the first time that Trump has asked the Federal Reserve for lower interest rates, which makes the cost of borrowing cheaper and tends to encourage consumers and businesses to spend and invest.

Conflicting economic data has complicated the Fed's decision-making.

"We don't see any evidence at all of overheating", Powell said in response to a Yahoo Finance question about whether or not stronger GDP readings in 2019 would point to a hot USA economy.

Warriors v Rockets: Three things that will decide semi-final series
Harden averaged 27.8 points in the first round against the Jazz, but he struggled at times to get going offensively. They're clearly betting on the Warriors getting through or else they'd stick around Houston a little longer.

Markets also are waiting for a reading of the Labor Department's non-farm payrolls data on Friday that is expected to show fewer job additions last month compared with March.

Officials also adjusted one of the tools they use to keep the fed funds rate within its target range, though Powell said the "change does not reflect any shift in the intended stance of monetary policy".

The central bank has faced other episodes of idiosyncratic price drops in recent years, such as one from a price war among cellphone network providers in 2017.

This rate is well below the Fed's 2 percent target.

He said China is boosting its economy by keeping rates low, but "Our Federal Reserve has incessantly lifted interest rates, even though inflation is very low".

Investors had been betting on the Fed to signal an interest rate cut due to the recent bout of weak inflation in the US- but their hopes were dashed by Mr Powell's comments. But Powell dismissed those fears as he has done repeatedly.

Among the factors Fed officials often cite to justify rate decisions, along with economic data, are "financial conditions". Headline gross domestic product growth remains strong, at an annualised 3.2 per cent in the first quarter, and some of the overseas risks that have nagged at policymakers in recent months appear to have diminished, particularly in China.

The latest Federal Open Market Committee (FOMC) meeting struck an arguably neutral tone despite the reaction we have witnessed overnight.

Related News:



Most liked

Sri Lanka To Resume Mass On Sunday: Cardinal
Sri Lanka launched a criminal investigation into the attacks and has already arrested over 100 suspects. However, the Islamic State terror group on Tuesday claimed responsibility for the attacks.

Europa League: Ozil speaks on leaving Arsenal under Unai Emery
Their only chance of securing a champions league place next season is to win the Europa League. The defender will line up against his old club in the Europa League semi finals.

Trump proposing fee for asylum seekers at southern border
Trump also ordered officials to come up with a way for asylum claims to be adjudicated in immigration court in 180 days. The number of people who crossed the border last month-more than 103,000-was at its highest peak in more than a decade.

IS leader appears in first video in five years
Baghdadi is believed to be hiding out in an isolated area of either Iraq or Syria, part of vast desert regions Daesh once held. The same mosque was later destroyed by ISIS militants as they lost control of Mosul in the summer of 2017.

Mueller Frustrated with Barr Over Portrayal of Findings
Barr said he didn't believe a piecemeal release of information was beneficial, and besides, it wasn't Mueller's call to make. Barr "whitewashed the report", Senator Dick Durbin, a member of the Judiciary Committee, told CNN ahead of the hearing.

Former Republican Senator Richard Lugar dies at 87
Richard Lugar was a longtime Republican Senator from IN who was highly regarded for his foreign policy leadership. As a public servant, he was a model of civility and statesmanship. "His service made America safer and stronger".

Crazy First Trailer for 'Sonic the Hedgehog' Live-Action Hybrid Movie
Double take: Many were quick to compare Sonic to another upcoming live-action video game movie: Detective Pikachu . The cast includes Ben Schwartz ( Parks and Recreation ) voicing Sonic , Jim Carrey playing the villainous Dr.

Socialists lead in Spanish election as far-right make gains
Another unpredictable path that Sánchez could consider is to seek the support of secessionists in Catalonia. Following the election, Ciudadanos has already said that it does not want to negotiate with the Socialists.

Green Bay picks TE Sternberger, OL Jenkins on Day 2 of draft
They were one of the final teams in the National Football League to make a Day 3 selection as Green Bay sent both of their fourth-round picks to Seattle to move up n the first round. "Right now, they're looking at me at guard".

Curry, Warriors not panicking as series shifts to LA
The Clippers just took two from them - despite Durant - and nobody else claimed more than one victory in a best-of-seven. Durant warned that the Rockets are going to be a whole new challenge.

Nothing new for everyone to fear me: Universe Boss, Chris Gayle
His opening partner will be Evin Lewis and the talented duo of Shai Hope and Shimron Hetmyer are in the squad . The team takes on South Africa and New Zealand in the warm-up matches before the World Cup on May 26 and 28.

Alex Hales Shouldn’t Be Anywhere Near The WC Squad: Michael Vaughan
England supporters want a nice, smooth approach to this World Cup but we know England cricket and it's unlikely to go that way. England will be playing ODIs against Ireland and Pakistan ahead of the World Cup.

Trump, Japanese leader cap visit with golf outing
After the meeting, Abe, Trump and their families will have dinner, an administration official said. I appreciated President Putin's statement yesterday. "I said, 'Gee I don't know if I can make it.

Canadian capital Ottawa declares state of emergency as waters swell
Image taken from a helicopter shows water flowing over the hydroelectric dam at Bell Falls in Quebec's western Laurentians. Lawrence River and Lake Ontario systems are expected to keep rising rapidly this week.

Is Don McGahn the Biggest Threat to the White House?
President Trump said earlier this week that he would not comply with Congressional attempts to question administration officials. Overall results have a 3.5-percentage-point margin of sampling error for the full sample.