Yellen remains the driver and the focus in markets
14 July, 2017, 19:09 | Author: Nadine Todd
The dollar eased against the yen on Wednesday, after Federal Reserve Chair Janet Yellen said interest rates hikes would be gradual and that the USA central bank may not be able to raise rates by "all that much".
It's premature to reach the judgment that we're not on the path to 2 percent inflation over the next couple of years.
Federal Reserve Chair Janet Yellen warned Thursday that the Trump administration target of three percent growth will be "quite challenging" to meet.
WALL STREET'S DAY: The Standard & Poor's 500 index gained 0.7 percent to 2,443.25 and the Dow rose 0.6 percent to 21,532.14, a record high.
Asian markets closed mixed: Tokyo's Nikkei slipped 0.5 per cent, Hong Kong's Hang Seng rose 0.6 per cent and China's Shanghai Composite fell 0.2 per cent.
Yellen's remarks this week come as the Fed is picking up the pace of its interest rate hikes, which will eventually impact millions of Americans - from savers to home buyers to investors.
"She said rates won't have to rise much further to get to neutral, I thought that was key".
In her testimony on Capitol Hill on Wednesday, Yellen indicated that the Fed will take a cautious outlook to tightening policy amid an uncertain outlook.
Don't memorize any of what Yellen says, because she and other Fed governors are likely to say something completely contradictory tomorrow.
Facing sometimes tough questions from legislators, Yellen presented the Fed's required semi-annual report to Congress - possibly for the last time if President Donald Trump decides not to reappoint her for a second term at the helm of the USA central bank.
The dollar index was down 0.05% at 95.68 ahead of European trading. Business investment has turned up this year, she said, and stronger economic growth overseas has helped USA manufacturing and exports.
That disconnect has vexed policymakers, but Yellen has said the retreat in price pressures is likely temporary and signaled she is prepared to continue with rate hikes and a plan to start trimming the Fed's $US4.5 trillion ($F9t) balance sheet later this year. Pound/dollar was up 0.20% to last trade at 1.2961. The U.S. dollar rose to 0.9652 Swiss franc from 0.9631 Swiss franc, and it edged down to 1.2720 Canadian dollars from 1.2920 Canadian dollars.
In her testimony, Yellen cited "transitory factors" keeping United States inflation low, but also acknowledged "there could be more going on there".
New Zealand's two-year swap rate rose 1 basis point to 2.26 while the 10-year swaps rose 3 basis points to 3.35 percent.
A senior US official later told Reuters that President Donald Trump is "very likely" to approve the recertification. But that official also said the president has "reservations" and could decide not to.
As for what Season 7 episodes will feature Daenerys Targaryan , there's not an exact answer this early in the game. Things don't look good for Cersei , but that isn't the case for the stupendous show around her.
The series stars Rob Delaney and Sharon Horgan , a couple who get together after a one-night stand in the United Kingdom . In 2008, she was nominated in the guest actress in a comedy series category for her appearance on " 30 Rock ".
The new, unnamed company "will have the right to use Yandex .Taxi and Uber brands in the region", the companies said. After the merger with Yandex in Russia Uber will not make the headquarters of the CIS in Kiev.
Revenue from fixed-income trading slipped 6 percent to $3.215 billion, just $1 million less than at JPMorgan. Citigroup's revenue from investment banking climbed faster than at JPMorgan, where it rose 14 percent.
The coach said Thursday at Southeastern Conference media days that Auburn players "know it's a legitimate competition". SC coach Will Muschamp said finding a young star at quarterback has helped push the Gamecocks' rebuilding plan forward.
The man not only tried to use her name for political gain, but he married her off to someone far worse than Joffrey. We've seen countless women, from Catelyn Stark to Shae to Margaery to Ygritte, all fall in one way or another.
The bench said "if we look look into the history, we can not deny the contribution made by railways to cricket". Limaye sought to be relieved on account of his appointment as managing director of the National Stock Exchange.
Pelosi said that she's concerned about North Korea for many reasons, but one of them is that the North could be a proliferator. Leaders of the Group of 20 major economies agreed last week that North Korea poses a global threat, a top adviser to U.S.
The new pledge will record and track those individual commitments and measure their cumulative effect on reducing emissions. The initiative hopes to present their findings to the United Nations at a Bonn, Germany, climate meeting in November.
Nadat vorige maand de Galaxy J5 (2017 ) uitgebracht werd in ons land is het vandaag de beurt aan de Samsung Galaxy J7 (2017). Het scherm is hiermee 0,1 inch groter dan dat van de Samsung Galaxy S8 +, die voorzien is van een 6,2 inch-scherm.
Attacker swims to Egypt resort, stabs six tourists
A Thomas Cook spokesman said: "Thomas Cook is aware of a knife attack that has taken place on the beach in Hurghada in Egypt ". Investigators believe the attacker arrived by swimming from a public beach, according to the ministry.