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Weak growth in the U.S. economy in the first quarter will likely be temporary and interest-rate hikes should be able to proceed as planned, Federal Reserve Vice Chairman Stanley Fischer said Friday. “Our tendency is to think this [weakness in the first quarter] is a transitory change and that growth will be around forecasts in
READ MOREThe manufacturing index from the Philadelphia Fed slid in April, but from high levels, suggesting slower growth in the factory sector after a post-election surge. The index fell to 22.0 from 32.8. It had hit a 33-year high of 43.3 in February and has receded every month since then. In a diffusion index, any reading
READ MOREThe U.S. economy expanded at a modest-to-moderate pace between mid-February and the end of March, but inflation pressures remained in check despite more difficulties in attracting and retaining workers. There is still debate within the Fed about just how rapid and sustained the pickup in inflation will be given that it has struggled to reach
READ MOREBritish Prime Minister Theresa May says she is seeking an early election on June 8 to seek a strong mandate as she negotiates the country’s exit from the European Union.
READ MOREOverall U.S. industrial production rose 0.5 percent in March because of an 8.6 percent weather-driven surge in utilities generation, the Federal Reserve said on Tuesday. That was the largest increase in utilities output on record, which resulted from heating demand returning to so-called seasonal norms after being suppressed by unusually warm weather in February, the
READ MOREBuilders broke ground on fewer homes in March, but ramped up applications for permits, as the housing recovery continued to grind forward in fits and starts. Housing starts fell 6.8% to a seasonally adjusted annual rate of 1.22 million, the Commerce Department said Tuesday. That was 9.2% higher than during the same period a year
READ MOREKansas City Fed President Esther George on Tuesday said she supports the continuation of the normalization of interest rates, even as she acknowledges it’s unclear how markets will react to the Fed beginning to reduce its $4.5 trillion balance sheet. “It is difficult to know with a high degree of confidence just how the economy
READ MORETreasury prices rallied on Tuesday, pushing yields lower, as geopolitical concerns draw money flows into U.S. government bonds. Yields for 10-year Treasury notes slipped 3.8 basis points to 2.210% in early Tuesday trading, heading back toward the November lows reached on Monday.
READ MORE“My tentative conclusion from market responses to the limited amount of discussion of the process of reducing the size of our balance sheet that has taken place so far is that we appear less likely to face major market disturbances now than we did in the case of the taper tantrum,” Fischer said. “But, of
READ MOREDisappointments on both inflation and retail sales for March might give reason for Federal Reserve officials to think twice about their plan to ratchet up rates as many as three more times this year. The next policy move from the Fed will likely come in June and will likely be followed by another rate hike
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