News Regulators 

Fed’s Quarles recuses himself from Wells Fargo matters

“Quarles noted that he had severed all financial ties he and his immediate family had with the bank, including selling off his stock in the banking giant” reports foxbusiness.com. He said he was taking the step in light of the history his extended family members had with Wells Fargo which involved the sale of their interest in a bank. Quarles joined the Fed board in October after being nominated by President Donald Trump to fill the Fed’s key bank regulatory job. Source: foxbusiness.com Share This:

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Crypto News Regulators 

We talked to Nobel Prize-winning economist Paul Krugman about tax reform, Trump, and bitcoin

“Even that Tax Policy Center analysis that we were discussing, they assume that about 20% of the corporate tax is ultimately borne by workers” writes Graham Rapier for businessinsider.com. Also, about a third, we think, of the corporate tax cut benefit to after-tax corporate profits will actually go to foreigners.If you ask what happens in the first year from a corporate tax cut, none of it goes to workers. Source: businessinsider.com Share This:

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Fed’s Evans says he voted against raising interest rates because inflation is too low

“The Fed on Wednesday voted 7-2 to raise a key U.S. interest rate to a range of 1.25% to 1.5%” writes Jeffry Bartash for marketwatch.com. Chicago Federal Reserve President Charles Evans said he voted against the U.S. central bank’s decision to lift interest rates this week because inflation was too low to justify an increase in the cost of borrowing money.In a statement Friday, Evans said he’s worried inflation could remain unusually low and he wanted to wait for more information before acting.He repeatedly stress concerns about low inflation before…

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News Regulators 

Gold ends slightly higher, marks first weekly rise in a month

“Seasonally, January is generally a good month to own precious metals, particularly gold,” he said” writes Markets Commodities Reporter for marketwatch.com. Prices got a boost after the Federal Reserve announced its decision this week to raise interest rates, as expected, and didn’t change its forecast for inflation and interest rates in 2018.Gold ended with a modest climb Friday, logging a gain for the week following three-straight weeks of declines.”The outlook for gold is good. February gold GCG8, +0.06% rose 40 cents to settle at $1,257.50 an ounce. Source: marketwatch.com Share This:

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Crypto News Regulators 

Bitcoin buyers: ‘Be ready to lose all your money,’ UK regulator says

“You can’t go somewhere and look up the record of who owns bitcoin,” Bailey said” writes Jade Scipioni for foxbusiness.com. Bailey said that relatively little was known about what drives the price of bitcoin, adding that another red flag is the fact the bitcoin buyers and sellers are anonymous, something that has caused concerns that it could be used to launder money.I’m going to put my pension into bitcoin’ – I would be very concerned but we don’t see that at the moment.”. Federal Reserve chair Janet Yellen also weighed…

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Policy Daily Review December 15, 2017

Policy Daily Review for December 15, 2017 Post FOMC, ECB, BoE Price Action Setups The Dollar crumbled yesterday after testing a key zone of resistance, and this keeps the Greenback in a bearish state as we look towards year-end.   EUR/USD Rebound Unravels as ECB Buys Time; November-Low on the Radar The reaction to the ECB interest rate decision raises the risk for further losses in EUR/USD as the central bank keeps the door open to   DailyFX US AM Digest: Euro and Pound Ease off after ECB and BOE…

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News Regulators 

Yield curve flattens further on growing expectation for Fed to raise rates

“The 10-year German bond yield TMBMKDE-10Y, -0.60% was barely changed at 0.310%” writes Sunny Oh for marketwatch.com. The 10-year French bond yield TMBMKFR-10Y, -1.49% edged higher a basis point to 0.644%.The 30-year bond yield TMUBMUSD30Y, -0.63%  added 2.8 basis points to 2.710%.Holders of U.S. government paper watch European interest rates closely as they tend to move in lockstep with U.S. rates, with some analysts saying that low European yields have kept a lid on Treasury rates.The 2-year note yield TMUBMUSD02Y, +2.07%  rose 2.4 basis points to 1.811%. Source: marketwatch.com Share This:

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Crypto News Regulators 

Bitcoin is a “Highly Speculative Asset”, Says Federal Reserve’s Yellen

“Speaking at the Federal Reserve Annual Meeting this year, a three-day event attended by representatives from over 90 central banks, Yellen encouraged her counterparts to study blockchain technology” writes unknown author for cryptocoinsnews.com. In her final press conference as Fed Reserve Chair, Janet Yellen called bitcoin “a highly speculative asset” that “doesn’t constitute legal tender.” Yellen was speaking to reporters in her final presser on Wednesday (her term comes to an end in February) when the subject of bitcoin came up.As reported by CCN in early 2014, Yellen underlined bitcoin…

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News Regulators 

The Latest: ECB did not discuss sudden end to stimulus

“The purchases will be cut to 30 billion euros ($35 billion) from 60 billion euros in January and extended through September, and longer if needed” reports foxbusiness.com. Draghi spoke after the ECB kept its key interest rates and stimulus programs on hold.The bank decided in October to reduce the purchases to 30 billion euros ($35 billion) a month from 60 billion euros and to extend them at least until September, or longer if necessary.European Central Bank President Mario Draghi says the bank is “closely monitoring” financial stability risks that could…

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Policy Daily Review December 14, 2017

Policy Daily Review for December 14, 2017 ECB To Boost Growth Outlook As Stellar Year Comes To A Close The European Central Bank is set to raise its growth forecasts on Thursday as the single currency economy gained momentum in a remarkably uneventful year, boosting policymakers’ confidence as they gear up to trim asset purchases in January.   FTSE Flat Ahead Of Crucial Monetary Policy Statements The U.K. stock market is seeing lackluster moves Wednesday morning, with investors now showing any keen interest in building up positions ahead of the…

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