As stimulus talks falter, the U.S. economy faces growth coming to a halt
Senate Minority Leader Chuck Schumer, a Democrat from New York, left, listens as U.S. House Speaker Nancy Pelosi, a Democrat from California, speaks to members of the media following a meeting at the U.S. Capitol in Washington, D.C., on Friday,...
Fed officials worried that lack of help from Congress will threaten recovery, minutes show
Federal Reserve officials worried that a lack of further fiscal stimulus would jeopardize an economy recovery that was moving faster than expected, according to minutes released Wednesday from the central bank’s September meeting. The Federal Open Market Committee on Wednesday...
FOMC Minutes Reveal that Upgrade on Economy Greatly Hinged on More Fiscal Stimulus
The minutes for the September FOMC meeting reveals that the members generally agreed to adopt the new monetary policy framework and change the forward guidance in the way presented in the statement. While the economic projections were upgraded in the...
‘No. 1 catalyst’ for market volatility is virus aid gridlock – not election uncertainty
National Securities’ Art Hogan blames the market’s wild swings on lawmakers’ inability to pass a second round of direct coronavirus relief. According to the firm’s chief market strategist, the gridlock influencing stocks is even more powerful than election uncertainty. “The No....
Mortgage rates set another record low, sparking new strength in refinances
An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio. Ty Wright | Bloomberg | Getty Images Mortgage rates moved even lower last week after setting multiple record lows in recent...
Fed releases minutes from meeting where it held rates steady and outlined inflation strategy
The Federal Open Market Committee on Wednesday released minutes from its Sept. 15-16 meeting. The Fed’s policymaking arm held interest rates steady at the meeting and approved language outlining its new approach to inflation. This is breaking news. Check back...
GBP/USD Outlook: Pound Extends Pullback on Risk Aversion and EU-UK Fishing Problem
Cable extends weakness on Wednesday, following 0.7% drop previous day, after President Trump deflated risk mode by calling off stimulus talks. The pound came under fresh pressure today after Ireland highlighted EU-UK fishing problem, the one of key obstacles in...
USD/CAD Steady, FOMC Minutes Loom
The Canadian dollar has posted slight losses on Wednesday, erasing most of the gains seen on Tuesday. In the North American session, USD/CAD is trading at 1.3272, down 0.32% on the day. Canada Ivey PMI disappoints Canada’s Ivey PMI posted...
Fed’s Kashkari warns that delaying stimulus will have ‘enormous consequences’
Minneapolis Federal Reserve President Neel Kashkari became the latest central banker to warn against not getting more stimulus to the U.S. economy, saying that the cost of doing nothing could be major. As the impasse in Washington intensifies, Kashkari told...
EURGBP Edges Eastbound; Upholds Positive Structure
EURGBP is currently tackling the mid-Bollinger band, preserving a neutral-to-bullish tone after bounces off the 50- and 100-day simple moving averages (SMAs), which followed a retreat from the recent five-and-a-half-month high of 0.9291. The dampened slopes of the 50- and...
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