Powell says he doesn’t see Fed changing its strategy for shrinking the balance sheet
As the future path of interest hikes gets cloudier, Federal Reserve Chairman Jerome Powell said the balance sheet reduction program will continue to proceed as planned. The Fed currently is allowing $50 billion a month to run off the balance...
Fed now sees just 2 rate hikes in 2019
The Federal Reserve said Wednesday it now expects just two rate hikes in 2019, one less than it had previously forecast in September. In its economic projections, the Fed reduced its forecast for the federal funds rate. It said it...
Fed makes key adjustment in effort to keep rates in line
The Federal Reserve made a technical adjustment Wednesday to help ensure that its benchmark interest rate stays within the range that the central bank wants. For the second time this year, the Fed raised the rate it pays on bank...
Fed hikes rate, lowers 2019 projection to 2 increases
The Federal Reserve on Wednesday raised its benchmark interest rate a quarter-point but lowered its projections for future hikes. As markets had expected, the central bank took the target range for its benchmark funds rate to 2.25 percent to 2.5...
Here’s how Fed rate hike will impact you: By Thursday, banks will have adjusted prime rates higher
With the Federal Reserve’s latest quarter-point interest rate increase (and still more likely to come), few consumers are left unscathed. The decision affects rates on all kinds of borrowing, from home mortgages to credit cards. Despite pressure from President Donald...
Gold Continues to Shine as Fed Decision Looms
As we mentioned the possibility in our week ahead report on Friday, gold has indeed broken further higher. The safe-haven asset has been supported by (1) continued weakness in the dollar and (2) raised volatility in the stock markets, ahead...
My job helped me realize I needed to start saving for retirement in my 20s
“Retirement” wasn’t a word I heard growing up. My mother worked long hours and had a spending problem. My father said the stock market only benefited the rich. I assumed you dealt with retirement when you were old. That all...
Euro Surges as EU Finally Approved Italian Budget, Dollar Mixed Awaiting FOMC Guidance
Euro rises broadly today as Italy finally got its 2019 budget plan approved by the European Commission. Disciplinary actions are now avoided. Italian 10-yield yields tumbles sharply and is pressing September’s low. For now, Yen follows as the second strongest....
Millions would be put at risk in a cashless society, research warns
The risks of moving toward a world without cash have been highlighted in a new report that claims millions of people could suffer. Several richer countries are turning away from hard cash while tech companies such as Apple are making...
Canadian Dollar Steadies, but CPI Could Renew Volatility
USD/CAD has reversed directions on Wednesday and posted slight losses. Currently, the pair is trading at 1.3445, down 0.17% on the day. On the release front, Canada releases inflation indicators, led by CPI. The indicator is expected to decline by...
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