President Donald Trump unleashed a torrent of criticism towards both the Federal Reserve and its Chairman, Jerome Powell, in an extraordinary interview in which he accused the central bank of pushing U.S. stocks lower and triggering a decision by GM to close plants and fire thousands of workers.
The Federal Reserve's views on the strength of the U.S. economy and the need for future interest rate hikes will be on full display this week as two key policymakers deliver speeches over the next two days and minutes of its November meeting are published Thursday in Washington.
President Donald Trump's tax cuts have increased the national debt, and now the bill is coming due: The U.S. government's interest costs surged 20% during the last fiscal year and are projected to nearly double over the next five years, eclipsing the budget for military spending.
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Bonds have been up. Perhaps the market sees a weakening economy and is getting in front of a potential rate hike pause by the Fed.
Federal Reserve Vice Chairman Richard Clarida said Friday that he is seeing evidence of a slowing global economy and that policymakers will need to account for that when making interest rate decisions over the near term.
Currency markets were active again Friday, following the biggest upheaval for both sterling and the euro in more than two years, as investors continue to grapple with headline risk associated with Britain's looming exit from the European Union and slowing growth and tepid inflation in the Eurozone itself.
The Fed will start a review next year of how it meets its goals of promoting employment and controlling inflation and how well it communicates to the public.
Issuance of junk-grade corporate loans is surging, even as underwriting standards deteriorate, pushing the market toward a danger point, according to the International Monetary Fund.