economic

Brexit a knockout punch to Fed’s interest rate divergence mantra

By Howard Schneider WASHINGTON (Reuters) – Britain's shock vote to leave the European Union may tie the U.S. Federal Reserve to near zero interest rates for far longer than expected, according to new research indicating the U.S. central bank is now tightly bound to international economic conditions. Over the past 18 months the Fed has blinked more than once, and refrained from…

View post: 
Brexit a knockout punch to Fed’s interest rate divergence mantra

economic

Fed seen holding rates this week with hike still on horizon

By Jonathan Spicer and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) – U.S. Federal Reserve policymakers are expected to hold interest rates steady when they meet this week, but may tweak their description of the economic outlook to reflect more benign conditions, leaving the path open for future rate rises. The Fed raised its policy interest rate last December for the first time in a decade when market volatility finally subsided in the wake of a scare over China's economy. Similarly early …

Read more:
Fed seen holding rates this week with hike still on horizon

economic

IMF cuts global growth outlook again, warns of political risks

By David Lawder WASHINGTON (Reuters) – The International Monetary Fund warned on Tuesday of the risk of political isolationism, notably Britain's possible exit from the European Union, and growing economic inequality as it cut its global growth forecast …

See original here: 
IMF cuts global growth outlook again, warns of political risks

economic

New York’s Plaza Hotel to go on sale next month: Bloomberg

(Reuters) – New York's Plaza Hotel is set to go on sale in an auction next month, Bloomberg reported on Wednesday. David and Simon Reuben hold the mortgage on the five-star hotel and scheduled a foreclosure auction for April 26, Bloomberg said, citing a source. For sale are the Plaza's hotel rooms, its restaurants and retail space.

Here is the original post:
New York’s Plaza Hotel to go on sale next month: Bloomberg

economic

JPMorgan, Citi shareholders to vote on potential breakup plans

Citigroup included the question in a proxy statement it filed on Wednesday for its annual meeting next month, and the shareholder sponsoring that proposal said he has a similar one slated for the upcoming ballot for JPMorgan's annual meeting. The shareholder, Bart Naylor, said he hopes the proposals get more votes…

See the original post:
JPMorgan, Citi shareholders to vote on potential breakup plans

economic

Fed holds steady, eyes two rate hikes this year

The Federal Reserve held interest rates steady on Wednesday and indicated that moderate U.S. economic growth and “strong job gains” would allow it to tighten policy this year, with fresh projections showing policymakers expected two quarter-point hikes by the year's end, half the number seen in December. Inflation picked up in recent months,” the Fed said in a …

Original post: 
Fed holds steady, eyes two rate hikes this year

economic

Janet Yellen: An orthodox economist for unorthodox times

By Jason Lange WASHINGTON (Reuters) – Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and …

Read the original: 
Janet Yellen: An orthodox economist for unorthodox times

economic

Fed begins two-day meeting to decide on interest rate hike

WASHINGTON (Reuters) – Top officials at the Federal Reserve on Tuesday began a two-day policy meeting that is expected to end with the first U.S. interest rate increase since 2006. The meeting began at 1 p.m. EST, a

See more here:
Fed begins two-day meeting to decide on interest rate hike

economic

Fed’s Yellen argues for interest rate caution in exchange with Nader

In a letter to Nader, the Fed chair repeated recent statements that the central bank should only gradually raise interest rates. “An overly aggressive increase in rates … would at undercut the economic expansion, necessitating a lasting return to low interest rates,” Yellen said in the letter. Nader published an open letter to Yellen on Oct. 30 that asked her to consider the “humble savers” with money in banks and money market accounts who were “frustrated by the Fed's low rates and melodramatic debate about when to

Read more from the original source: 
Fed’s Yellen argues for interest rate caution in exchange with Nader

« Previous Page