Chicago Federal Reserve Bank President Charles Evans on Thursday suggested that "extraordinary accommodation" and a period of elevated inflation will be integral to the U.S. central bank's approach to fighting the next severe economic downturn.
A key measure of U.S. business investment rose in January, a sign businesses were more willing to spend in early 2020, despite coronavirus risks that erupted late that month. New orders for nondefense capital goods excluding aircraft-- or what are called core capital goods orders, a closely watched proxy for business investment-- increased 1.1% in January from the previous month, the Commerce Department said Thursday. The rise came during a month when the U.S. and China signed an...
The U.S. economy grew moderately in the fourth quarter, the government confirmed, and is facing a bumpy road in early 2020 amid the fast-spreading coronavirus that has left financial markets fearing a recession. Though other data on Thursday suggested some stabilizing in business investment in January and the labor market remained solid, that failed to calm jittery investors.
Chicago Fed leader Charles Evans said Thursday the U.S. central bank may need to let inflation overshoot its 2% target in the future as part of an effort to ensure price pressures aren't too weak and monetary policy doesn't get stuck at near zero rates. Evans also said as part of a presentation in Mexico City that because the risks of falling to near zero rates are now higher, the Fed must be prepared to use stimulus tools like bond buying and guidance about the future of interest rates...
A Bernie Sanders presidency could begin modestly with a roughly $300 billion federal jobs guarantee before pushing for trillions of dollars in new spending on health care, the environment and infrastructure, says a key adviser to the U.S. Democratic front-runner.
The Brazilian real's relentless decline continued on Thursday, as growing investor fears over the impact of the coronavirus outbreak on Latin America's largest economy pushed it below 4.50 per dollar for the first time ever.
Iran has banned Chinese citizens from entering the country, Iranian state news agency IRNA reported on Thursday, amid the spread of the new coronavirus across the Islamic Republic that had killed 26 Iranians. Iran, which has the highest number of deaths from the virus outside China, said on Thursday that total number of infected people had increased to 245.
The dollar fell on Thursday as Treasury yields continued to plumb new lows and investors bet the Federal Reserve would cut interest rates to offset the impact of the spreading coronavirus, lifting the euro to its highest in more than three weeks. Money markets are now fully pricing in one 25 basis point cut in U.S. interest rates by April and three by March 2021.
Mexico's central bank cautioned against steering monetary policy toward helping the country's stagnant economy, even as tension on its board over how much further interest rates should fall became apparent in a report published on Thursday.
Hudson's Bay Co (HBAYF): * HBC CHAIR RICHARD BAKER WINS SHAREHOLDER BACKING TO TAKE CANADA'S OLDEST RETAILER PRIVATE- GLOBE AND MAIL Source text: https://tgam.ca/3ablMJH Further company coverage:
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