Wall Street seesaws higher after comments by US Fed chief

Consumer credit outstanding

The partisan fight has forced the partial government shutdown which stretched into the 20th day and, with no end in sight, is about to make it the longest in the US history.

Wall Street traders see a 99.5 per cent chance the Fed won't hike at the end of January, according to data compiled by CME Group.

Powell also said he didn't see signs of a recession in the near term, but noted that his "principal worry" was a slowdown in global growth and that while the U.S. economy appears "solid", a slowdown in China "is a concern". There is good momentum going into this year.

"If we find that the ongoing programme of balance sheet normalisation or any other aspect of normalisation no longer promotes the achievement of our dual-mandate goals, we will not hesitate to make changes, " Clarida said.

Powell on Thursday also reiterated that, separate from what happens with interest rates, the Fed would continue allowing its almost $4 trillion portfolio of bonds to shrink each month, to a level "substantially smaller" than it is now. "The principal worry is global growth", he said.

"If we have an extended shutdown, I do think that would show up in the data pretty clearly", Powell stated.

The Punisher season 2 trailer promises even bloodier retribution
The unstoppable force of nature that is Frank Castle , known as the Punisher , is out to deliver another round of vengeance. Its portrayal of veterans as mainly degenerate dickheads looking for any excuse to do violent crimes remains problematic.

Ocasio-Cortez campaign fined for lapse in worker's compensation coverage
Alexandria Ocasio-Cortez (D-N.Y.) tapped into the nerd fanbase motherlode Friday when she quoted Watchmen author Alan Moore . In a comparison that Ocasio-Cortez would surely hate, politicos have pointed out that the NY rep. has "Trumpian" tendencies.

Winter Weather Advisory for 95.3 MNC listening area in Northern Indiana
It will then enter the Quad Cities metro just shortly after midnight and become more steady prior to sunrise Saturday . Whatever falls during the day Saturday should be fairly light and shouldn't provide too much of an impact to the road.

But he noted that the economic data would also be muddied because the shutdown is impacting the Commerce Department, which operates the Bureau of Economic Analysis and the Census Bureau.

"We do not take political factors into consideration in our discussions or decisions at all". Today, the Fed and Trump seem to be the economic situation to assess.

But when Rubenstein asked if he'd be happy to accept an invitation, Powell simply repeated: "I'm not aware of anyone not accepting it".

While those initial comments boosted stocks, they later slipped when Powell said the Fed would shed significantly more assets than it already has. "We're waiting and watching". In contrast, his remarks in his three previous appearances since late November moved stocks an average of 2.4 percent in either direction, and his comments last Friday spurred the largest market reaction yet to any of his 17 public appearances since taking office last February.

Fed officials last month raised their benchmark rate by a quarter percentage point to a range between 2.25% and 2.50% and penciled in two increases this year, assuming the economy would grow about 1.9%, the annual rate they see as likely over the long run. The Fed chief will be in focus again this afternoon as he fields questions at the Economic Club of Washington.

Related News:



Most liked

Bizarre Ear Condition Makes Woman Unable to Hear Men's Voices
It has been linked to genetics and can be triggered by certain diseases (for example, Ménière's disease) and viral infections. Anyone who suffers from low-frequency hearing loss, generally, can't hear noises that have a frequency of 2,000 Hz or below.

Rare coin given to schoolboy as change now worth $2.3m
Lutes's coin, now verified, will remain on auction until January 10, according to Fox News . Heritage Auctions says more than 30 people bid on the rare coin Thursday night.

Healthcare Facility Chief Quits After Woman in Coma Gives Birth
A Phoenix police spokesman said that "the matter is now under investigation" but declined to give any further details of the case. I haven't been able to sleep good at night because of what occurred here", Angela Gomez, a Hacienda patient's mother, said .

Canada grants asylum to Saudi runaway teen fleeing allegedly abusive family
Qunun's case has revived interest in the plight of the footballer, who has been held in detention since his arrival in Thailand. Rahaf Mohammed al-Qunun is flying to Toronto through Seoul, South Korea, said Thai immigration official Surachate Hakparn.

Girl, 17, crashes vehicle while driving blindfolded for Bird Box challenge
The #BirdBoxChallenge started trending when several people started posting their videos of the challenge online. Layton police in Utah responded to a crash Monday because a driver covered her eyes while driving.

Criminal Minds: Ending; Renewed for 15th and Final Season on CBS
In a statement on the show's official Twitter page, it was confirmed: "Hey, #CriminalMinds fans-we've got big news". The final season will consist of 10 episodes, which will be shot at the end of the season 14 episodes.

Senate Republicans' 1st bill on Israel boycotts divides Democrats
One GOP aide said Republicans could still move nominees, which are not subject to a 60-vote threshold to beat a filibuster. Tlaib, a Palestinian-American, tweeted about the bill's supporters that "They forgot what country they represent".

Didn't know about allegations Manafort shared polling
I didn't know anything about that", Trump replied. "Nothing about it", he said in response to a reporter's question. Manafort, who sat in a wheelchair during a court hearing in October, also has severe gout, his lawyers said.

Maurizio Sarri calls Bayern Munich ‘unprofessional’ after Callum Hudson-Odoi pursuit
Maurizio Sarri has criticised Bayern Munich for publicly stating their wish to recruit Callum Hudson-Odoi from Chelsea . Asked where he felt Chelsea needed reinforcements, Sarri said: "As you can understand, I cannot tell you where".

Chinese Huawei employee, Polish former intel officer, arrested in Poland for espionage
Norway's comments come at a time in the country is seeking to stamp out vulnerabilities in its telecoms networks. Last year, Huawei helped Orange Polska to roll out its next-generation 5G mobile networks in the country.

‘He Doesn’t Give A Damn’: Trump Holds Line On Shutdown
Meadows, who speaks frequently with Trump, sees the emergency declaration as the "last tool" the president has. One said the phone calls coming into his office were overwhelmingly in favor of Trump's border wall .

Trump Promises Changes To H1-B Visas, Including Potential Citizenship
Previous changes the administration made in 2018 to the H-1B application process favor applications with advanced degrees. The dispute has led to a partial shutdown of the U.S. government that is now in its 21st day.

Missing Jayme Closs, whose parents were murdered, just found alive
Fitzgerald said authorities in Douglas County, about 112 kilometres north of Barron County, located the girl. Smith told KSTP the family wants justice for her sister and brother-in-law who were murdered.

Jose Mourinho received an absolutely massive pay-off after Man United sacking
Manchester United have said that they are not preventing their Ex-Manager from joining any club. Mourinho has also been spoken of as a possible successor to the axed Rui Vitoria at Benfica .

Lady Gaga apologizes for R. Kelly collaboration, calls sexual assault allegations ‘horrifying'
Kelly in the recent Lifetime documentary series are deeply, deeply disturbing", Foxx told CBS News correspondent Jericka Duncan. He added: 'And I didn't really wanna know what he did to the extent that I might feel the need... to deal with it.