United States stocks retreat from records ahead of Fed minutes
Feb 23 2017
Many Fed policymakers said it may be appropriate to raise rates again "fairly soon" should jobs and inflation data come in line with expectations, according to the minutes of the Fed's January 31-Feb.
Officials added that gradually increasing the fed funds rate would give the bank "greater flexibility in responding to subsequent changes in economic conditions".
Federal funds futures for March delivery rose modestly on the perceived dovish minutes, implying traders saw a 18 percent chance of a rate increase at the FOMC's March 14-15 meeting, unchanged from late on Tuesday, according to CME Group's FedWatch program.
What it means: As interest rates normalize and the economic expansion matures, the Fed expects to stop reinvesting the proceeds of maturing bonds and mortgage debt, a step that would begin to shrink the huge amount of liquidity the central bank forced into the economy by buying the securities after the 2008 financial crisis. But the transcript also showed a mood of uncertainty over President Donald Trump's fiscal policy plans.
TJX, parent of Marshall's and TJ Maxx stores, rose 0.3 percent after reporting higher fourth-quarter earnings following a three percent rise in comparable store sales.
Those expectations and the prospect of increased government spending have also has helped boost stock prices. But while some members of the committee judged that a tighter labor market could trigger price increases in the future, others argued that inflation remains below the long-run target of 2 percent, and that the threat of rapid inflation was not imminent.
But some of the Fed officials cautioned that these changes "might not materialize".
The major USA indexes are trading around record highs, driven up since President Donald Trump's November 8 election by the promise of lower taxes, reduced regulations and higher infrastructure spending. The personal consumption expenditures price index rose 1.6 percent previous year; excluding food and energy, the index rose 1.7 percent.
A change economic conditions could come with a reversal in the lofty USA equity prices that have policy makers on watch.
Feb 20 2017 Man critically injured by shark on Great Barrier Reef
Mr Ballantyne will be flying to be by his friend's side tomorrow - and to help support his friend's partner Jessie Janssen. The Concord Register reported that Dickson's friends rushed him to the mainland town of Cardwell, which was 30 kms away.
Feb 19 2017 Chicago Bulls vs. Boston Celtics: Instant Analysis, Highlights
His activity around the rim was huge for the Bulls , as he finished with 15 points and eight rebounds with two blocked shots. The Bulls won't play until next Friday when they host the Suns before traveling to Cleveland to face the Cavaliers Saturday.
Feb 18 2017 Spain's Princess Cristina acquitted, husband jailed
King Juan Carlos I abdicated in 2014 under pressure for, among other things, going on an elephant hunting trip to Botswana. She took the stand in her defense in March 2016, saying she "didn't concern herself" with her husband's business affairs.
Feb 17 2017 Intel Community Denies Bombshell WSJ Report
A FURIOUS Donald Trump has accused Russian Federation of "taking" Crimea and rounded on his intelligence agencies amid a deepening scandal over his administration's alleged Moscow links.
Feb 17 2017 Mitsubishi reveals all-new Eclipse Cross SUV
Mitsubishi has a gap to fill between the ASX and Outlander, and this is the SUV that will do it - the Mitsubishi Eclipse Cross . Whether the plug-in hybrid drivetrain of the Mitsubishi Outlander will expand to the Eclipse Cross remains to be seen.
Feb 15 2017 Fake News Firestorm Hits French Presidential Election
He added: "That there is a hysterical anti-[President Vladimir] Putin campaign in certain countries overseas is an obvious fact". Rumours about Macron's private life had grown louder in recent weeks, in tandem with his poll surge.