Donald Trump rages against the Federal Reserve over interest rates AGAIN

Trump says Fed ‘biggest problem’ for US economy, calls Powell ‘golfer who can’t putt’

The futures markets reflected the shift Thursday. That's down from 98.5% the day before.

Minutes released on Wednesday showed a fractious meeting on many fronts last month when a divided Fed cut interest rates for the first time in a decade. That reduction wasn't almost enough for Trump, who called this week for "a full percentage point reduction and even brought up the idea of more quantitative easing, or asset purchases the Fed made to pull the economy out of the Great Recession", CNBC notes.

The Rand was in retreat Thursday as the Dollar and other majors rose following another inversion of the US bond yield-curve, which comes ahead of a landmark speech from Federal Reserve (Fed) Chairman Jerome Powell that will set the mood for South Africa's currency in the coming weeks.

Wall Street's main markets were set to edge lower on Thursday as the previous session's hints of a skeptical Federal Reserve attitude to a new cycle of interest rate cuts offset a handful of more bullish signs from USA retailers.

The reports come on the heels of solid earnings from Walmart Inc (WMT.N) and strong retail sales data last week that allayed fears of a USA recession.

The government on Thursday said initial claims for jobless benefits fell sharply last week in a show of labor market strength.

Other data have been less encouraging. Then, shortly after the minutes were released, the curve between 2-year and 10-year Treasury notes flattened - and then inverted for the second time in two weeks.

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President Donald Trump, who has repeatedly accused the Fed of undercutting economic growth by keeping rates too high, said on Twitter that the economy "is doing really well", but that the central bank "can easily make it Record Setting". USA gold futures dipped 0.5% to $1,508 an ounce.

The Fed mentioned trade war tariffs as a drag on the economy.

Central bank policymakers are meeting in Jackson Hole, Wyo., at an annual conference, where they are wrestling with how trade tensions between the United States and China could affect the economy.

Strong results for retailers Target, Lowe's and Nordstrom on Wednesday were complemented by better than expected purchasing manager surveys in Europe on Thursday. Its shares slumped after it gave an outlook that fell short of Wall Street's expectations.

The data helped the pan-European STOXX 600 index .STOXX to recover from solid initial losses to trade just 0.1% lower by 0815 GMT, with Italian stocks .FTMIB outperforming with a 0.39% rise.

The Dow Jones Industrial Average rose 283.4 points, or 1.09%, to 26,245.84, the S&P 500 gained 25.97 points, or 0.90%, to 2,926.48 and the Nasdaq Composite added 77.87 points, or 0.98%, to 8,026.43.

USA crude rose 0.16% to $56.22 per barrel and Brent was last at $60.66, up 1.05% on the day. He urged the Fed to drop interest rates below competing countries. Synchronous economic growth in different regions of the world from 2017 to 2018 took place against the backdrop of a 15% decline in the dollar against a basket of major currencies. But Powell's talk at the central bankers' gathering in Jackson Hole, Wyoming is the key event and will be closely pored over for clues about the bank's plans for next month, with experts unable to agree on whether or not he will announce further cuts.

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