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Day: July 19, 2018

Trump lays into the Fed, says he’s ‘not thrilled’ about interest rate hikes

In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central bank could disrupt the economic recovery. Presidents rarely intercede when it comes to the Fed, which sets the benchmark interest rate that flows through to many types of consumer debt. Fed officials, including Chairman Jerome …

Trump lays into the Fed, says he’s ‘not thrilled’ about interest rate hikesRead More

Tallying Up Tariffs: The Effect on Inflation

Executive Summary Trade tensions have been escalating since the spring when President Trump announced tariffs on steel and aluminum imports. Tit-for-tat responses to the initial tariffs levied by the administration earlier this year are beginning to add up. Supply chain managers have been left scrambling to find new sources of materials or face higher costs. …

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Automakers push back on EU tariff plan, saying there’s no evidence imports affect national security

Auto executives pushed back Thursday on the Trump administration’s proposal to dramatically raise tariffs on auto imports from the EU. Industry executives, testifying at the first of a two-day hearing being held by the U.S. Commerce Department, warned against the tariffs. They said new tariffs would hurt U.S. jobs, raise prices for consumers and invite …

Automakers push back on EU tariff plan, saying there’s no evidence imports affect national securityRead More

Copper — a metal with a history of predicting economic trouble — hits 1-year low, nears bear market

Copper prices reached their lowest levels in a year on Thursday amid concerns that a global trade war could strain global supply chains and slow down the global economy. The metal’s futures for September delivery traded as low as $2.6735 per pound, their lowest since July 14, 2017, when it hit $2.663. Copper traded at …

Copper — a metal with a history of predicting economic trouble — hits 1-year low, nears bear marketRead More

Trump trade tactics sabotaging the economy and markets, Stephen Roach warns

Wall Street could be making a costly mistake. According to economist and Yale University senior fellow Stephen Roach, the markets are underestimating the impact from the trade war with China. “The market just thinks this is typical Donald Trump bluster, and based on his performance on a lot of other issues,” he said Wednesday on …

Trump trade tactics sabotaging the economy and markets, Stephen Roach warnsRead More

Fed’s banking supervisor backs new interest rate benchmark

The Federal Reserve’s banking supervisor gave his backing Thursday to a new interest rate benchmark for institutions to use when lending to each other. Fed Governor Randal Quarles, vice chairman for supervision, said banks can use the central bank’s Secured Overnight Financing Rate as an alternative to the London Interbank Offered Rate, or Libor, a …

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Leading indicators up slightly more than expected in June

The Conference Board’s Leading Economic Index increased half a percent in June, beating expectations. The index rose 0.5 percent in June, edging past expectations for a gain of 0.4 percent, according to economists polled by Reuters. This marks the eight straight month of gains for the index. “The U.S. LEI increased in June, pointing to …

Leading indicators up slightly more than expected in JuneRead More

Dollar Surges as Trade War Takes Back the Stage, Pushed Further by Stellar Job Data

Dollar is trading as the strongest one today as trade spat intensifies again. For whatever reasons, the greenback has been supported by intensifying trade tension between US and other countries. Further buying is seen in Dollar in early US session after another set of stellar job data. Meanwhile Japanese Yen is trading as the second …

Dollar Surges as Trade War Takes Back the Stage, Pushed Further by Stellar Job DataRead More

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