News Regulators 

Who has Fed Chair Powell’s ear? Lawmakers and bankers

“Powell met international central bankers and other foreign government officials 32 times versus Yellen’s 26” reports businessinsider.com. In contrast, in her first four months on the job, Yellen met with seven lawmakers, six of whom were Democrats.Yellen, who holds a doctorate in economics and was a university professor before joining the Fed, had six meetings with bankers and eight with economics professors. Source: businessinsider.com Share This:

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News Regulators 

Ex-Fed’s Yellen sees meager pick-up from Trump tax cuts

“PARIS (Reuters) – U.S. President Donald Trump’s tax cuts are likely to give only a meager boost to productivity growth in the United States, former Federal Reserve chief Janet Yellen said on Thursday” writes Midwest Communications Inc for 95kqds.com. Asked about the outlook for productivity growth as a driver of corporate earnings, Yellen said that tax cuts should produce some impact on investment spending and in turn productivity.She doubted that the Fed would yield to any potential political pressure to help finance the growing fiscal deficit caused by the tax…

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News Regulators 

The Fed is nearing an inflation goal that has eluded it for years

“The Federal Reserve is nearing a huge milestone as inflation hits 2 percent for just the third time in the past six years” reports washingtonexaminer.com. The central bank targets 2 percent inflation, meaning that it wants to drive inflation that high and then keep it there for the long term.A report Monday from the Commerce Department, though, showed annual inflation right at 2 percent in March, as measured by the index favored by the Fed. Source: washingtonexaminer.com Share This:

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News Regulators 

Reports Williams to lead New York Fed prompts criticism over diversity, Wells Fargo

“The New York Fed president is first-among-equals of the Fed banks” writes Senior Economics Reporter for marketwatch.com. And the New York Fed is the central bank’s operational arm on Wall Street, buying and selling securities.Reports that San Francisco Fed President John Williams has been selected to take over the powerful slot as head of the New York regional bank has been met by anger from the left wing. Source: marketwatch.com Share This:

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News Regulators 

Powell’s Fed to show policy caution, shun political friction

“His reluctance to take unnecessary risks may convince him that any change could confuse the public, do little to improve policy, and draw unnecessary political fire” reports businessinsider.com. But a stronger economy does not necessarily mean the Fed is abandoning its balanced assessment of risks to growth and price stability.Even the dovish Fed Governor Lael Brainard noted recently that the economy’s “headwinds are shifting to tailwinds.”. But the Powell Fed is likely to take extreme care not to over-react to stronger economic data, according to a series of public statements…

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News Regulators 

Does Fed control Trump 2020 destiny?

“Then again, candidate Trump disingenuously blamed the Yellen Fed for creating a “false economy” to help Barack Obama” writes Kimberly Alters for theweek.com. It’s a charge Trump may live to regret if the Powell Fed makes a monetary mistake.Either the Fed raised interest rates too far, too fast or it failed to offset tighter monetary conditions. Source: theweek.com Share This:

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Markets News Regulators Stocks 

Janet Yellen: I thought Greenspan’s ‘irrational exuberance’ speech would put people to sleep

“When Janet Yellen first saw Alan Greenspan’s “irrational exuberance” proclamation about the stock market, she didn’t think it would have much impact, she said Tuesday” writes John Duricka for cnbc.com. The roaring bull market, fueled by the dotcom bubble, would continue for more than three years after Greenspan’s speech.In fact, Greenspan’s observation about the go-go 1990s stock market remains perhaps the most quoted line ever from a Fed chairman. Source: cnbc.com Share This:

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News Regulators 

The Federal Reserve is already looking very different under Jerome Powell than it did under Janet Yellen

“To which Ellison replied: “I’m not asking you about immigration policy, I’m asking about economic impact.”” writes Pedro Nicolaci Da for businessinsider.com. Powell demurred: “We of course don’t do immigration policy at the Fed.”. “My personal outlook for the economy has strengthened since December,” he said, citing the tax cuts, which he said could bolster economic growth for as many as two years. Source: businessinsider.com Share This:

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Markets News Regulators 

Powell says outlook strong, signaling gradual rate hikes

“But various market rates, including home mortgage rates, have begun rising in anticipation of further Fed rate increases” writes The Associated Press for seattletimes.com. The Fed boosted its benchmark rate three times last year and has signaled that it expects to raise rates another three times in 2018. Source: seattletimes.com Share This:

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