Tuesday, 17 September 2019
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Powell speech: Weak inflation could be even more persistent than Fed currently anticipates
Wednesday, 10 July 2019 21:00 WIB | FISCAL & MONETARY |Fiskal & Moneter

In his prepared statement to be delivered at his semi-annual testimony to the Congress, Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, reiterated that the Fed will act 'as appropriate' to sustain the U.S. economic growth.

With the initial reaction to Powell's statement, the US Dollar Index turned south and was last down 0.25% on the day at 97.25. Below are some key quotes, per Reuters.

"It appears trade uncertainties and concerns about global economy continue to weigh on u.S. Economic outlook -prepared testimony."

"Baseline outlook is for U.S. economic growth to remain solid, labor markets to stay strong and inflation to move back up to central bank's 2% target."

"There is a risk weak inflation will be even more persistent than Fed currently anticipates."

"U.S. economic growth appears to have moderated in Q2; economic momentum appears to have slowed in some major foreign economies in recent months."

"Business investment growth seems to have slowed notably; may reflect concerns about trade tensions and slower global growth."

"Consumer spending growth was weak in first quarter but data show it has bounced back and is running at a solid pace."

"Economy's long-term challenges include high and rising federal debt and relative stagnation of middle and lower incomes."

Source : FXstreet

RELATED NEWS
RBA Sees Risk of Property-Price Spike as House-Building Dwindles...
Tuesday, 17 September 2019 09:03 WIB

Australia's central bank said there's potential for an upswing in home prices as dwelling construction weakens, while reiterating it's prepared to lower interest rates further. In minutes of its Sept...

ECB Cuts Rates, Restarts QE to Fight Slowdown as Draghi Era Ends...
Thursday, 12 September 2019 19:18 WIB

The European Central Bank cut interest rates further below zero and said it™ll resume bond purchases as President Mario Draghi overcame critics of his stimulus policies to make a...

Powell says August job report is sign of continued strength in labor market, doesn't see a recession...
Saturday, 7 September 2019 01:23 WIB

Federal Reserve Chairman Jerome Powell said Friday afternoon that the most recent monthly gauge of the U.S. labor market fit into an overall picture of a healthy jobs market and economy. In a questio...

Carney speech: Worst-case Brexit scenarios now less severe than 2018...
Wednesday, 4 September 2019 20:51 WIB

While testifying before the Treasury Committee as part of the Bank of England (BOE) inflation report hearings, Governor Mark Carney said that their worst-case Brexit scenario was less severe than last...

RBA broadens its watch -- ANZ...
Tuesday, 3 September 2019 13:45 WIB

David Plank, head of Australian economics at ANZ, explains that as expected by almost all commentators the RBA Board left the cash rate at 1% following its September meeting. Key Quotes œWe think ...

LATEST NEWS
Oil slips as market assesses fallout from Saudi attack

Oil prices declined on Tuesday but the market was on tenterhooks over the threat of retaliation for attacks on Saudi Arabian crude oil facilities that halved the kingdom™s output and prompted a price spike not seen in decades. Saturday™s...

U.S. stocks set to drift lower as oil's surge takes a pause

U.S. stock indexes were on track to drift lower Tuesday morning, a day after an attack on major oil-processing facilities in Saudi Arabia sparked sparked fears over oil supplies, driving domestic crude futures to the sharpest single-session rally...

Gold Holds Gains Near $1,500 Ahead of Fed Meeting

Spot gold clung to Monday's gains, holding close to $1,500 an ounce as investors await critical policy decisions from central banks including the Federal Reserve. Gold rallied at the start of the week as the strike on Saudi Arabia's crude...

POPULAR NEWS
Gold Settles at a More Than a 1-Week High as Historic Oil Outage Rattles investor Nerves
Tuesday, 17 September 2019 01:34 WIB

Gold futures finished solidly higher on Monday, at their highest price in just over a week, after an attack on Saudi Arabian oil production sent oil...

Gold Prices Jump Amid Middle East Tensions; Investors Eye Central Banks Meetings
Monday, 16 September 2019 13:17 WIB

Gold Prices jumped on Monday in Asia after a strike against two Saudi Arabian oil facilities heightened tensions in the Middle East and boosted...

Gold scores a pop from historic oil outage
Monday, 16 September 2019 20:44 WIB

Gold futures headed solidly higher on Monday after an attack on Saudi Arabian oil production sent oil prices skyrocketing and investors turning to...

Gold Rallies on Concern Saudi Attack May Presage Wider Conflict
Monday, 16 September 2019 16:13 WIB

Gold and other precious metals rallied after a strike against Saudi Arabian oil facilities raised the possibility of retaliatory U.S. military...