Republican lawmakers and the Federal Reserve may be ready to strike a compromise deal on legislation that would give Congress greater scrutiny over the central bank, now that there is no longer the threat of a presidential veto, but it would likely stop short of dictating rules on setting interest rates.
The Federal Reserve inaugurates the Trump era this week with a near-certain interest rate increase and new economic forecasts providing a first glimpse into whether the U.S. election has reshaped the central bank's growth and inflation outlook.
Crude oil prices surged to their highest since mid-2015 and U.S. Treasury yields hit a more than two-year peak on Monday after the world's top crude producers agreed to the first joint output cut since 2001.
The U.S. election of Donald Trump has created "considerable" uncertainty over the policies he will pursue so it is too soon for the Federal Reserve to judge whether its plan for gradual interest rate hikes needs adjusting, one of the most influential Fed policymakers said on Monday.
A centrist Federal Reserve president on Wednesday said he backed an interest rate hike "in the near future," adding to the very high odds that the U.S. central bank will tighten monetary policy next month.
As we wrote this morning, the November FOMC meeting minutes are essentially moot at this point. Against the backdrop of a flurry of Committee members’ comments – including the Chairman herself – suggesting a rate rise was imminent, the market is now pricing in a December hike with 100% certainty.
Buffy may have her way on slaying vampires, but she has nothing on Fed Chair Janet Yellen when it comes to killing commodities. Yellen’s testimony to Congress basically assured us that the Federal Open Market committee will raise rates in December as the economy is making significant progress.
Risk appetite remains strong at the start of the new week, aided by a softening in tone of some of the more controversial campaign promises as Donald Trump, the candidate, continues to morph into President-elect Donald Trump.
Dollar bullish investors stole the show during trading on Monday with the Dollar Index surging to 11-month highs at 100.00 as expectations intensified during the Federal Reserve raising U.S. interest rates in December.