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July 9, 2019 The Week: On Monday, the Federal Reserve announced that it was cutting interest rates for the first time since the financial crisis. The cut was seen as a response to the economic slowdown that has been seen in the U.S. and around the world. The Fed also indicated that it may cut rates further if needed. The news sent stocks soaring, and the U.S. dollar fell sharply against other major currencies. On Tuesday, the Federal Reserve released its quarterly economic report, which showed that the U.S. economy is slowing. The report showed that consumer spending, business investment, and exports were all weaker than expected. The report also showed that inflation has been running below the Fed's 2% target. On Wednesday, the Federal Reserve released the minutes from its June meeting, which showed that officials were split on the decision to cut interest rates. Some officials argued for a larger cut, while others felt that a smaller cut was sufficient. The minutes also showed that the Fed was divided on what to do next, with some arguing for further rate cuts, while others were hesitant to do so. On Thursday, the Labor Department released its monthly jobs report, which showed that the U.S.
US Money Markets Now Put Probability of 25 bps Fed Rate Cut in December at Only 50% - Action Forex
US money markets now put the probability of a 25 bps Fed rate cut in December at only 50%. The latest repositioning started last week after Fed Chair Powell said that the economy is not sending any signals that de Fed needs to be in a hurry to lower rates. Boston Fed Collins yesterday suggested that some additional policy easing is needed as policy currently remains at least somewhat restrictive but that the final destination is uncertain. Policy makers should proceed carefully though.
Musk, Ramaswamy will lean on Supreme Court rulings to cut US agencies By Reuters - Forex Trader Hub
(Reuters) -Elon Musk and Vivek Ramaswamy said the government efficiency panel that President-elect Donald Trump has named them to lead will follow recent U.S. Supreme Court rulings that they say can be used to take power away from federal agencies and reduce regulations the two call unnecessary, costly and inefficient. Musk, the billionaire CEO of
Japanese Yen gains positive traction against USD, upside potential seems limited - Forex Trader Hub
The Japanese Yen strengthens against the USD, though it lacks bullish conviction amid BoJ uncertainty. The upbeat market mood and elevated US bond yield might contribute to capping the lower-yielding JPY. Traders look at Thursday's US macro data and the Fed speaks ahead of Japan’s National CPI on Friday. The Japanese Yen (JPY) edges higher
Colleges raking in millions in federal dollars hold their breath as Trump vows to shake up US education | Fox News
President-elect Donald Trump's plan to reshape education in the U.S. raises questions over federal funding as it relates to U.S. institutions, who have amassed billions in U.S. taxpayer dollars.