Tuesday, 26 May 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Fed Makes Second Straight Rate Cut, Splits on Further Action
Thursday, 19 September 2019 01:20 WIB | FISCAL & MONETARY |Federal ReserveThe FedEkonomi AS

Federal Reserve policy makers lowered their main interest rate for a second time this year while splitting over the need for further easing, caught between uncertainty over trade and global growth and a domestic economy that's holding up well.

œ Although household spending has been rising at a strong pace, business fixed investment and exports have weakened,™™ the Federal Open Market Committee said in a statement on Wednesday in Washington. Officials maintained their pledge to œact as appropriate to sustain the expansion. 

Chairman Jerome Powell, under relentless public pressure from President Donald Trump to slash rates, will hold a press conference at 2:30 p.m. New York time.

The benchmark rate was lowered by a quarter percentage point to a range of 1.75% to 2% œin light of the implications of global developments for the economic outlook as well as muted inflation pressures,™™ the committee said. The FOMC continued to characterize the labor market as œstrong with œsolid job gains.

Five officials wanted to keep rates unchanged, while five saw a quarter point as appropriate this year and seven wanted a half point.

The Fed Board also took a separate step to calm this week's strains in money markets and avert harm to the economy, lowering the interest rate on excess reserves to 1.8%. Earlier Wednesday the Fed injected $75 billion of liquidity to ease a crunch, and key rates pulled back from elevated levels.

Source : Bloomberg

RELATED NEWS
RBA's Lowe: Australian financial system is resilient and is well placed to deal with COVID-19...
Thursday, 21 May 2020 09:53 WIB

Reserve Bank of Australia (RBA) Governor Philip Lowe is on the wires now, via Reuters, speaking on a panel at FINSIA's "The Regulators" Webinar. "Australian financial system is resilient and is well ...

Fed Officials Discuss How to Convince Markets That Interest Rates Will Stay Low For a Long Time...
Thursday, 21 May 2020 02:33 WIB

Federal Reserve officials in April discussed the next phase of interest rate policy ”convincing markets that rates will stay low for a long time ” but gave no sense than any changes were imminent....

Mnuchin Defends U.S. Fiscal Response to Pandemic, Seeks Payroll Loan Extension...
Wednesday, 20 May 2020 02:20 WIB

U.S. Treasury Secretary Steven Mnuchin on Tuesday defended the Trump administration™s fiscal response to the coronavirus pandemic and told senators he was willing to consider extending and modifying...

Australia Faces 'Unprecedented' Economic Hit from Coronavirus: RBA Minutes...
Tuesday, 19 May 2020 09:53 WIB

Australia is facing an "unprecedented economic contraction due to the coronavirus pandemic, though massive fiscal and monetary stimulus would help cushion the blow, minutes from the country's centr...

Powell says more policy help may be needed to pull the US out of economic downturn...
Wednesday, 13 May 2020 21:03 WIB

Federal Reserve Chairman Jerome Powell said Wednesday that policymakers may have to use additional weapons to pull the country out of an economic mire that has cost at least 20 million jobs and caused...

LATEST NEWS
Gold eases as equities rally; Hong Kong woes limit losses

Gold edged lower on Tuesday as hopes of economic recovery lifted share markets with many countries easing coronavirus-driven lockdowns, although Sino-U.S. tensions over Hong Kong limited bullion's losses. Spot gold was down 0.3% at $1,724.74 per...

Dow futures surge more than 500 points on hopes of a coronavirus vaccine

Stock futures traded sharply higher early Tuesday to begin a holiday-shortened week, as optimism grew about a potential coronavirus vaccine. Futures on the Dow Jones Industrial Average pointed to an implied opening gain of more than 550 points....

Hong Kong stocks close sharply higher

Hong Kong shares rallied Tuesday as worries over a controversial Chinese security law proposed for the city were overshadowed by hopes for the global economy as governments continue to ease lockdown restrictions. The Hang Seng Index jumped 1.88...

POPULAR NEWS
Gold Falls as Potential Japan Stimulus Boosts Risk Appetite
Monday, 25 May 2020 15:13 WIB

Gold declined on Monday as Japanese equities rose on news of a potential stimulus program that boosted investors™ risk appetite, though fresh...

Gold Down Over Escalating U.S.-China Tensions
Monday, 25 May 2020 13:36 WIB

Gold was down in Asia on Monday morning, with escalating U.S.-China tensions continuing to impact demand for even the safe-haven asset. Gold...

US Marks Memorial Day as Coronavirus Toll Nears 100,000
Monday, 25 May 2020 18:51 WIB

Monday is Memorial Day in the United States “ a day set aside to honor the hundreds of thousands of U.S. servicemen and women who sacrificed their...

Oil Dips as U.S.-China Tensions Add to Nerves on Global Economy
Monday, 25 May 2020 08:31 WIB

Oil edged lower as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in...