Saturday, 15 December, 2018

Fed's Kaplan sees three or four more rate hikes, then a pause

Fed's Kaplan sees three or four more rate hikes, then a pause Few thrills ahead for Trump from a Fed on a mission of its own
Kelvin Reese | 22 August, 2018, 13:52

In an interview with American Public Media's "Marketplace" radio show in July, Powell said he was "deeply committed" to maintaining the Fed's tradition of preserving its independence from political concerns.

"I'm not thrilled with his raising of interest rates, no, I'm not thrilled", he said.

The Fed has raised interest rates seven times since 2015 after slashing them during the 2008 recession as the USA experiences record low unemployment and stable inflation.

But Kohn said it does put more pressure on Powell and other Fed officials to explain their actions and their perspectives. "And I think the euro is being manipulated also", Trump said.

Past presidents from both parties have sought to insulate the central bank from political pressure, anxious it could taint the Fed's decision-making and erode its credibility with the public.

While many USA presidents have chafed at the Fed's inclination to increase rates and curb inflation, few if any have been as outspoken as Trump in their criticisms of the US central bank.

Akshay Kumar becomes first Bollywood actor to cross 20 million Instagram followers
Gold has done "well" on Sunday (Day 5) and has witnessed an estimated growth of about 30-35%, Box Office India report stated. On Monday, the movie is estimated to have earned Rs 3.75 crore, taking the total India business to Rs 74.25 crore.

Muslims across the world celebrate Qurban Bayram
The festival, which is also known as the Festival of Sacrifice or Big Eid, follows Eid al-Fitr, which marks the end of Ramadan. The Islamic calendar is based on the lunar cycle, so the date changes every year as it depends on the sighting of the moon.

Nvidia unveils GeForce RTX 20 series GPUs with ray-tracing power
Nvidia GeForce RTX 2080 Ti is a whopper of a graphics card that's finally able to push 60fps 4K gaming with a single GPU. This card is based upon the TU104 Turing GPU with 2944 CUDA cores plus with 8GB GDDR6 memory and a 256-bit bus it says.

In an interview with Reuters published on Monday, the president said he was "not thrilled" with the rate rises under new Fed boss Jerome Powell, repeating comments made last month about the bank's tightening measures. It followed reports earlier in the day that Trump had criticised Powell at a private GOP fundraiser.

"It would appear that Mr. Trump would like to keep the USA dollar a little on the weak side in order to remain competitive", said CMC Markets chief markets analyst David Madden. Trump has departed from this past practice and said he would not shy from future criticism should the Fed keep lifting rates. But Trump has repeatedly lashed out at Fed Chairman Jerome Powell.

So, for investors who wish to decide whether to take a position in the yellow metal in the wake of declining prices, the ongoing US Federal Reserve will be of paramount importance as the fate of interest rates in the US will hence decide the price trajectory of the metal.

Wall Street's major indexes rose on Monday on optimism over trade talks between the United States and China, though they fell from session highs after Trump's comments. The president does choose members of the policy-setting Fed Board, and in addition to Powell, he has appointed one Fed governor and nominated three others.

Asked if he believed in the Fed's independence, Trump said: "I believe in the Fed doing what's good for the country".

"Am I happy with my choice?" Trump told Reuters, referencing Powell. Presidents have not commented on Federal Reserve policy in over twenty years after Bill Clinton chose to stay mum on the central bank's choices. "I'll let you know in seven years".

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