Bank of England Governor Mark Carney took aim at the U.S. dollar's "destabilising" role in the world economy on Friday and said central banks might need to join together to create their own replacement reserve currency.
The Trump administration is considering ramping up biofuel blending quotas in the coming years to assuage anger in the Farm Belt over its recent broad use of waivers for small refineries, but is not planning to rescind any of the exemptions it has granted so far, four sources familiar with the matter said.
* Trump advises U.S. companies to exit China. * China unveils retaliatory tariffs on U.S. goods. * Powell says will "act as appropriate" to support growth. * Indexes down: Dow 1.87%, S&P 2.00%, Nasdaq 2.53% By Stephen Culp.
U.S. interest rates futures jumped on Friday as Federal Reserve Chair Jerome Powell's hint of more rate cuts and U.S. President Donald Trump's tweets on trade stoked bets on a further decline in key borrowing costs.
* Indexes down: Dow 1.90%, S&P 1.94%, Nasdaq 2.33% * China unveils retaliatory tariffs on U.S. goods. * Powell says will "act as appropriate" to support growth. By Akanksha Rana and Medha Singh.
The U.S. dollar dropped broadly on Friday after President Donald Trump
ordered U.S. companies to start looking for an alternative to China after Beijing imposed more tariffs on
American goods, ...
* Trump says U.S. "far better off without China" * China sets tariffs of 5% or 10% on $75 bln in U.S. goods. * Targeted goods include soybeans, beef, pork, crude oil. * U.S. president meeting with trade team -official. By David Lawder and Se Young Lee.
The Federal Reserve ought to adopt a monetary policy rule to guide its interest-rate-setting decisions in part as a bulwark against a near daily barrage of presidential criticism, a widely respected economist told Fed Chair Jerome Powell and other central bankers on Friday.
* China unveils retaliatory tariffs on U.S. goods. * Trump tells U.S. companies to seek alternatives to China ops. * Powell says will "act as appropriate" to support growth. * Peppa Pig-owner Entertainment One (ENTMF) surges on Hasbro deal. * Kloeckner jumps on report of talks with Thyssenkrupp. By Agamoni Ghosh.
The Federal Reserve will "act as appropriate" to keep the U.S. economy healthy, Fed Chair Jerome Powell said on Friday, remarks that did not say how fast it might cut interest rates, drawing fire from President Donald Trump.
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