Brazil's real weakened on Monday beyond 4.20 per dollar, on course for its weakest closing level on record, as traders pushed the currency through the key level where the central bank had intervened in August by selling dollars on the spot market.
Brazil's Economy Minister Paulo Guedes said on Monday that the government's primary budget deficit this year should come in at just below 80 billion reais . Speaking at a news conference in Brasilia, Guedes said that the government had resisted increasing pressure to abolish its spending cap, but will be able to reverse all the spending freezes announced earlier in the year so it could meet its...
The following are forecasts for this week's remaining U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Tuesday 0830 Housing Starts Oct 1.30 M 1.256 M-- percent change Oct +3.5% -9.4% 0830 Building Permits Oct 1.38 M 1.387 M-- percent change Oct -0.5% -2.7% Thursday 0830 Jobless Claims Nov 16 217 K 225 K 0830 Phila Fed Mfg Svy Nov 5.0 5.6 1000 Existing Home Sales Oct 5.46 M 5.38 M-- percent change Oct +1.5% -2.2% 1000 Leading Index Oct...
President Donald Trump invited Federal Reserve Board Chair Jerome Powell to meet at the White House with him and Treasury Secretary Steve Mnuchin, with few details released.
Treasury yields and the dollar slumped Monday on news that Federal Reserve Chair Jerome Powell had met with President Donald Trump and Treasury Secretary Steven Mnuchin. Trump has been relentless in his criticism of the central bank's policies, most recently calling on the Fed to emulate the negative-interest-rate policies of European nations and Japan. Those policies, he asserts, puts U.S. businesses at a disadvantage in borrowing costs and by boosting the dollar's...
The current stance of monetary policy is appropriate for the U.S. economy and the Federal Reserve should now wait and see how the economy evolves, Cleveland Fed President Loretta Mester said on Monday.
Fannie Mae (FNMA) on Monday upgraded its forecast for 2020 U.S. economic growth to 1.9% from 1.7%, arguing that consumer spending and the housing market will buoy gross domestic product if a "phase one" trade deal between the United States and China is signed.
Fed says Powell gives no hints or promises about interest rates. Federal Reserve Chairman Jerome Powell met with President Donald Trump at his request to discuss the economy, but the Fed on Monday said Powell gave no hints or promises about what the central bank will do next. Trump has repeatedly and harshly criticized the Fed and Powell for not cutting interest rates fast enough when the economy weakened earlier this year, but he called the face-to-face meeting "good& cordial," in a...
Federal Reserve Chairman Jerome Powell on Monday met with President Trump, a frequent critic, to discuss the economy and interest rates, but his comments were similar to what Powell has already said publicly, the central bank said in a statement. "Chair Powell's comments were consistent with his remarks at his congressional hearings last week. He did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming...
Federal Reserve Chairman Jerome Powell met with President Trump at the White House on Monday to discuss the economy, the central bank said in a statement. Fed officials have cut their short-term rate three times since July, most recently in October to a range between 1.5% and 1.75%. Officials lowered rates to cushion the U.S. economy against the risks of a sharp slowdown due to a slide in business investment and decelerating global growth.
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