Fed's Powell puts focus on spreading benefits of a strong economy

Fed Chairman Jerome Powell called the economy “strong” but noted pockets of weakness around the country. He pledged support for the Community Reinvestment Act and regulation that helps banks get funding to rural areas. Federal Reserve Chairman Jerome Powell said the U.S. economy looks strong, but the central bank is continuing to find ways to…

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The fate of the market this year could be in the hands of the 'Powell Put'

The “Powell Put” refers to the point below which Fed Chairman Jerome Powell would not the market fall before stepping in with stimulus. Powell has swung from being aggressive about rate hikes to cautious in the matter of a few months as financial conditions have changed. Traders don’t think the Fed will raise rates at…

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The Powell-Trump meeting 'mostly just politics' but is helping soothe the market

President Donald Trump and Fed Chairman Jerome Powell met for the first time Monday in a dinner to discuss a range of issues. Trump has been sharply critical of the Fed after the central bank hiked interest rates four times in 2018. “I think it’s mostly just politics. I don’t think Powell or anybody else…

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Fetch.AI announces token sale on Binance Launchpad to build intelligent machine-to-machine economy

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Payrolls surge by 304,000, smashing estimates despite government shutdown

Job growth in January shattered expectations, with nonfarm payrolls surging by 304,000, the Labor Department says. Economists surveyed by Dow Jones had expected payrolls to rise by 170,000. There were revisions. December’s big initially reported gain of 312,000 was knocked all the way down to 222,000, while November’s rose from 176,000 to 196,000. The unemployment…

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The Fed may be moving closer to ending its rally-killing balance sheet reduction

Fed officials have been discussing when to curtail the reduction in the bonds it is holding on its balance sheet. Recent indications from central bank leaders indicate that the end of the program is getting nearer, according to a Wall Street Journal report. Markets have attributed the tightening of financial conditions in part to the…

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Manufacturing industry posts biggest annual job gain in 20 years

The manufacturing industry posted net job gains of 284,000 over 2018, capping its best calendar year since 1997. A priority for President Donald Trump, manufacturing saw marked hiring in December with an additional 32,000 jobs. Most of the gains occurred in blue-collar durable goods manufacturing, with growth in fabricated metals and computer and electronic products,…

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Payroll growth slows in November as labor market tightens

Private payrolls grew by 179,000 in November, below Wall Street estimates of 195,000, according to ADP and Moody’s Analytics. The service sector added 163,000, led by professional and business services. Medium-size businesses were the biggest job creators. “This month’s report is free of significant weather effects and suggests slowing underlying job creation,” says Mark Zandi,…

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Fed's Kashkari says rates should not go up when job creation is strong and inflation is tame

At this point, the Fed should pause on interest rate increases, says Minneapolis Fed President Neel Kashkari. Hiking rates too forcefully before necessary could risk causing a recession in the U.S. economy, Kashkari argues. Kashkari believes rates are “close to neutral,” a level hotly debated ever since Fed chief Jerome Powell’s controversial comments last month….

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After Powell comments, traders see just one rate hike next year

Market pros expected to hear dovish comments from Fed Chairman Jerome Powell so when he said the neutral rate is close, many took it to mean the Fed will stop hiking rates sooner than previously indicated. BMO U.S. rates strategist Jon Hill says that after Powell’s comments, the futures market went from pricing in 1.6…

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As US recession chances increase, the Fed may deliver fewer rate hikes: Poll

The Federal Reserve is expected to raise interest rates again next month and three times next year. A strong majority of economists polled by Reuters over the past week say the risk is it will slow that pace down, however. The probability of a U.S. recession in the next two years, while still low, also…

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Gary Cohn: President Trump shouldn't comment on independent agencies like the Fed

Former White House economic advisor Gary Cohn says President Trump shouldn’t be criticizing independent agencies, including the Federal Reserve. Trump has launched attack against the central bank for raising interest rates, which he has said pose the biggest danger to the economy. President Donald Trump shouldn’t be criticizing independent federal agencies like the Federal Reserve,…

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US weekly jobless claims fall, while continuing claims drop to the lowest level since 1973

New applications for U.S. unemployment benefits dropped last week and the number of Americans on jobless rolls fell back to levels last seen in 1973. The data suggested a further tightening in labor market conditions. Initial claims for state unemployment benefits decreased 5,000 to 210,000 for the week ended Oct. 13, the Labor Department said….

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Cryptocurrency is a commodity under our jurisdiction: CFTC Chair

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Larry Kudlow says the Fed is independent and the president is not dictating policy to central bank

A day after President Donald Trump called the Federal Reserve “loco,” his top economic advisor said the White House is not trying to influence monetary policy. Larry Kudlow, director of the National Economic Council, spoke Thursday to CNBC about the current state of the economy and its impact on markets. On Trump’s remarks, he did…

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Governments Are BANKRUPT, PEOPLE Are Waking Up!

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Ripple News! Ripple Will Surpass Bitcoin – Believes a Finance Pundit

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Crypto currency gold Bitcoin BTC bit coins chart on the computer screen bitcoin mining concept

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Bitcoin $1600 Move Incoming? Phore Giveaway! XRP Getting Dumped? Wanchain Will Rise Again!

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Trump doesn't realize the impact trade war could have on his voters, asset manager warns

The prime victim of the sparring of tariffs between the U.S., China and others will be consumers, because prices will likely go up, an AllianceBernstein investment chief said. AllianceBernstein’s Phelps also implied that heightened protectionism could affect the long-term investment decisions of shareholders. The U.S. this week imposed a 10 percent levy on $200 billion…

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