EghtesadOnline: President Donald Trump is expected to nominate Federal Reserve Governor Jerome Powell to seize the reins of the central bank when Chair Janet Yellen’s term ends in February 2018, in a move that could alter monetary policy and the direction of America’s economy.
EghtesadOnline: Jerome Powell wasn’t a lock to be President Donald Trump’s pick to lead the Federal Reserve.
EghtesadOnline: Janet Yellen’s only advocate in the White House may be the one person who matters most: President Donald Trump.
EghtesadOnline: Federal Reserve Chair Janet Yellen said gradually raising interest rates is the most appropriate policy approach amid higher uncertainty about inflation, reinforcing the U.S. central bank’s forecast for another hike this year.
EghtesadOnline: The dollar extended gains after Federal Reserve Chair Janet Yellen boosted expectations for an interest-rate rise in December and ahead of the U.S. president laying out his tax-reform plan. U.S. and European equity futures climbed, while most Asian stocks declined.
EghtesadOnline: Asian stocks fluctuated and U.S. equity futures fell as investors weighed the damage from Tropical Storm Harvey on U.S. oil refining centers. The greenback maintained losses after Federal Reserve Chair Janet Yellen failed to provide clues on monetary-policy tightening.
EghtesadOnline: U.S. stocks and Treasuries rose while the dollar sank after Janet Yellen’s speech didn’t take the hawkish tone some expected. Oil gained as Hurricane Harvey churned toward the energy-rich Texas coast.
EghtesadOnline: So much for a quiet Friday in late August. After weeks of relative slumber, gold traders were rudely awoken to a surge in volume and volatility. In a span of one minute, gold futures contracts equaling more than 2 million ounces traded -- about 20 minutes before Federal Reserve Chair Janet Yellen was to address a gathering of policy makers in Jackson Hole, Wyoming.
EghtesadOnline: In the end, it sounded more like a swan song than a job audition. By broadly defending the sweeping financial rules put in place in the past decade, Federal Reserve Chair Janet Yellen distanced herself on Friday from the anti-regulatory rhetoric of the man who will decide whether to replace her, President Donald Trump.
EghtesadOnline: The world’s two most powerful central bankers on Friday delivered back-to-back warnings against dismantling tough post-crisis financial rules that the Trump administration blames for stifling U.S. growth.