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Fed Expected to Raise Rates

“The central bank is due to announce its decision at 2 p.m” writes Min Read for reuters.com. Fresh Fed economic forecasts to be released along with the policy statement may suggest that two rate hikes is more likely, economists say.It would be the fourth rate hike of the year and the ninth since the central bank began its current tightening cycle in December 2015.President Donald Trump has repeatedly attacked the Fed for raising rates this year, saying it was undercutting his efforts to boost the economy. Source: reuters.com Share This:

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Why free-market economists aren’t impressed with Trump’s deregulation efforts

“Along with tax cuts, deregulation is one of the signature policies of the Trump administration” writes Scott Sumner for marketwatch.com. Attorney General Jeff Sessions reversed Obama administration policy and began adopting a stricter stance against marijuana legalization in the states.The Trump administration seems intent on freeing up banks to take greater risks, without first removing the federal policies that already encourage excessive risk taking.While the Trump administration likes to say it is cutting regulations, the truth is that the number of regulations has continued to increase.The Trump administration has not…

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Gold scales over five-month peak, investors await Fed outlook

“Gold prices edged higher to a more than five-month peak on Wednesday as a softer dollar supported the bullion while investors awaited cues on the rate hike trajectory of the U.S. central bank from its two-day policy meeting” reports cnbc.com. “The market is largely in a holding pattern as everyone is focusing on the FOMC (Federal Open Market Committee) meeting …Holdings in SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, rose 1.08 percent to 771.79 tonnes on Tuesday.Lower interest rates reduce the opportunity cost of holding non-yielding bullion and…

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US dollar struggles near one-week low ahead of Fed rates signal

“The dollar index was down 0.25 percent at 96.86, hovering near a one-week low as it extended losses into the second day” reports cnbc.com. Risk sentiment has been soured by weaker-than-expected economic data out of China and the eurozone, while the Sino-U.S. trade dispute and a collapse in oil prices have added to fears the global economy is fast losing momentum.”The positioning going into the FOMC meeting is very defensive and that’s why we are seeing the dollar weakening,” said Michael McCarthy, chief markets strategist at CMC Markets. Source: cnbc.com Share…

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Japan exports slow to crawl on global slowdown, trade tensions

“Japan’s export volume is slow to expand against the backdrop of global economic slowdown,” said Toru Suehiro, senior market economist at Mizuho Securities” writes unknown author for cnbc.com. As such, Japan’s exports will struggle to pick up for the time being.”. The trade data highlights rising external risks for Japan’s export-led economy, and comes as the Bank of Japan reviews policy at a two-day meeting that ends Thursday.Analysts expect exports to be a drag on the economy over the coming quarters as external demand ebbs.In volume terms, exports fell 1.9…

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U.S. reverses policy in move to speed release of migrant children

“(Reuters) – The Trump administration is reversing a controversial policy that required extensive background checks of all adults living with sponsors of migrant children, in a move that could lead to faster release of migrant minors from shelters” writes Midwest Communications Inc for 95kqds.com. The children are then expected to show up to immigration court to fight their deportation cases.Another reason, they say, is that information about potential sponsors is now shared with the Department of Homeland Security, which enforces immigration law. Source: 95kqds.com Share This:

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Here’s how the Fed may ‘feel the market’ — and it may not be to the president’s liking

“Investors are still pricing it over a 70% chance of an interest rate hike Wednesday” writes Senior Economics Reporter for marketwatch.com. In general, economists think the Fed will not be deterred from tightening because of the recent market weakness.President Donald Trump on Tuesday urged the Federal Reserve to “feel the market” and stop raising interest rates. Source: marketwatch.com Share This:

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Gold slips from 1-week high ahead of the Fed’s policy update

“The Fed will be joined by the Bank of Japan and the Bank of England in offering policy updates this week” writes Markets Commodities Reporter for marketwatch.com. Stock weakness can support gold, but gold’s haven popularity has been subdued for the most part so far in December.Gold prices on Tuesday slipped from the roughly one-week high they settled at a day earlier, with a weaker dollar limiting any losses for the precious metal ahead of a monetary policy update this week from the Federal Reserve.Traders also eagerly awaited hints from…

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Trump school safety group goes after Obama civil rights policy, not guns

“The most far-reaching of all the panel’s recommendations was the one to rescind the 2014 school discipline guidance” writes Kimberly Hefling for politico.com. A Trump administration school safety panel hardly touched on the role of guns in deadly school shootings in its wrap-up Tuesday.Civil rights groups and Democrats have fiercely defended the policy and said they’re outraged the administration would connect it with school shootings. Source: politico.com Share This:

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Policy Daily Review December 18, 2018

Policy Daily Review for December 18, 2018 Why Stocks May Not Care If The Government Shuts Down The shutdown, should it occur as threatened this Friday, would certainly aggravate the always-acute tension between Republicans and Democrats but the markets may yawn.   Here’s what happens to Social Security and disability benefits during a government shutdown In the event of a government shutdown at midnight, Social Security and disability checks will still be sent to recipients and beneficiaries.   Labour Party to bring vote of no-confidence against Prime Minister May Labour…

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