The White House has ordered U.S. military forces to focus almost entirely on enforcing a Venezuelan oil "quarantine" for at least the next two months, a U.S. official told Reuters, indicating that Washington is currently more interested in using economic rather than military means to pressure Caracas. "While the military option remains on the table, the focus is primarily on using economic pressure by enforcing sanctions to achieve the desired outcome for the White House," the official said on Wednesday, speaking on condition of anonymity. While President Donald Trump has publicly kept his...
Federal Reserve Governor Lisa Cook will file a lawsuit to prevent President Donald Trump from firing her, a lawyer for the embattled central bank official said on Tuesday, kicking off what could be a protracted legal fight over the White House's effort to shape U.S. monetary policy. "His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action," Cook's lawyer, prominent Washington attorney Abbe Lowell, said in a statement. The statement was issued a day after Trump said he would fire Cook, the...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan mused about making key policy adjustments at the Fed on Monday, stressing the need for more effective policy communication.The US has more room to reduce reserves.Responding to banks' increased short-run demand for reserves is a recipe for an ever-expanding central bank balance sheet.As reserve levels drop, preferable for the Fed to seek to meet lower long-run bank demand for reserves rather than the higher short-run demand.Fed balance sheet should hold primarily treasuries in the long run.I was encouraged to see the use of the...
The US economy is slowing, according to a monthly index released Monday, increasing the likelihood that policymakers will cut interest rates next month. The Chicago Fed's National Activity Index fell slightly to minus 0.19 in July from a downwardly revised minus 0.18 in June. A reading below zero indicates slower growth than the long-term average. Employment indicators remained negative on the index, a fresh sign of fragility in the US labor market. This weakness is one of the main reasons for a rate cut at the Fed's policy meeting next month. Central bank Chairman Jerome Powell last week...
Investors cheered Federal Reserve Chair Jerome Powell's Jackson Hole address, which gave a green light to buy risky assets on the hope the central bank is ready to cut rates, but took his dovish message with a note of caution as they see a risk of stagflation ahead and worry markets are over-optimistic. In his final address as Fed chair at the Jackson Hole, Wyoming, economic symposium, Powell hinted at a September interest rate cut but stopped short of committing, striking a careful balance between mounting job-market risks and lingering inflation worries. The speech on Friday came amid...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top White House ally. "I'll fire her if she doesn't resign," Trump told reporters on Friday. The comments intensify Trump's pressure campaign against the US central bank, which he has bashed for months over its decision to hold interest rates steady. He's attacked Fed Chair Jerome Powell over monetary policy decisions as well as cost overruns for a major renovation of the...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
The White House has ordered U.S. military forces to focus almost entirely on enforcing a Venezuelan oil "quarantine" for at least the next two months, a U.S. official told Reuters, indicating that...