Wednesday, 22 January 2020
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Powell says the Fed is 'grappling' with whether to cut interest rates
Wednesday, 26 June 2019 00:28 WIB | MONETARY |The Fed

Federal Reserve Chairman Jerome Powell on Tuesday suggested an interest-rate cut in July, widely expected by investors and economists, is not a done deal.

While greater uncertainty about trade and worries about global economy might be starting to show through to economic data, officials don™t know how long this may last and how serious the drag might be, the Fed chairman said.

œThe question my colleagues and I are grappling with is whether these uncertainties will continue to weigh on the outlook and thus call for additional policy accommodation, Powell said, in brief remarks ahead of a moderated discussion at the Council on Foreign Relations in New York.

Powell said that œmany FOMC participants judge that the case for somewhat more accommodative policy has strengthened.

Only 10 of the 17 Fed participants are voters. The committee voted 9-1 to hold rates steady last week.

Since the Fed meeting last week, three Fed officials have publicly made the case for interest rate cuts and one took a wait-and-see approach similar to Powell™s.

Powell said Fed officials are mindful that monetary policy œshould not overreact to any individual data point or short-term swing in sentiment.

Powell said the basic economic outlook of the FOMC œremains favorable. Officials expect inflation to return to 2% over time œbut at a somewhat slower pace than we foresaw earlier in the year, he said. The downside risks to this outlook appear to have grown, he said.

Source : MarketWatch

RELATED NEWS
BOJ Maintains Key Interest Rates and Forward Guidance...
Tuesday, 30 July 2019 10:06 WIB

Bank of Japan maintains 10-year JGB yield target at about zero percent after ending a two-day meeting on Tuesday. Keeps policy balance rate at -0.1%. Central bank leaves forward guidance and asset p...

Draghi's speech: Global trade has faced headwinds in recent years...
Wednesday, 12 June 2019 15:38 WIB

The European Central Bank (ECB) President Mario Draghi, via Reuters, delivering the opening address at the ECB conference on Central, Eastern, and South-Eastern European countries (CESEE), in Frankfur...

Draghi Talks Tough on Stimulus as ECB Discusses More Rate Cuts...
Thursday, 6 June 2019 21:26 WIB

Mario Draghi hardened his language as he said the European Central Bank won™t shy away from action to support the euro-area economy as growth weakens. Policy makers are œdetermined to act...

BOJ Menjaga Kebijakan Tidak Berubah, Mengurangi Perkiraan Inflasi...
Friday, 15 June 2018 10:01 WIB

Bank of Japan meninggalkan kebijakan moneter tidak berubah bahkan ketika menurunkan penilaian inflasi, turun lebih jauh di belakang rekan globalnya pada akhir minggu yang sibuk bagi bank-bank sentral....

LATEST NEWS
HongKong stocks open slightly higher

Hong Kong stocks rose at the start of trade Wednesday following a sharp fall the day before but investors remain on edge over a deadly virus that has now spread to the United States. The Hang Seng Index opened up 0.47 percent, or 131.17 points, to...

Gold Steady Amid Virus Concerns; Palladium Decline

Gold was steady in Asia as markets assessed the likely impact of the spread of China™s coronavirus. Palladium extended its decline. Spot gold -0.1% to $1,556.81/oz at 7:41am in Singapore; -0.2% Tuesday. Bloomberg Dollar...

Asian stocks arrest slide but investors on edge over China virus

Asian share markets steadied on Wednesday as investors took stock of the spread of a new strain of coronavirus from China and weighed the possible consequences of a global pandemic. Fears of contagion, particularly as millions travel for Lunar New...

POPULAR NEWS
Gold Edges Higher After IMF Shaves World Growth Forecast
Monday, 20 January 2020 20:50 WIB

Gold prices drifted fractionally higher on Monday as U.S. markets remained closed for the Martin Luther King holiday while European ones were...

Wall Street, Main Street expect gold price uptrend to continue
Monday, 20 January 2020 10:52 WIB

Wall Street and Main Street alike look for gold to continue the recent bounce this...

Gold Gains on Yemen Attacks, China Lunar New Year Buying
Monday, 20 January 2020 17:44 WIB

Gold prices rose to their highest in more than a week on Monday, after a missile attack in Yemen over the weekend fanned geopolitical concerns and...

Gold Settles Lower as Traders Weigh The Impact of China's Coronavirus on Demand for The Metal
Wednesday, 22 January 2020 01:56 WIB

Gold futures settled modestly lower on Tuesday, with some sources attributing the loss to the possibility that a viral outbreak may cut demand for...