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Yellen says Trump's plan for new revenue agency won't save money for taxpayers
NEW YORK, Jan 15 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Wednesday U.S. President-elect Donald Trump's plan to set up a new government agency to collect tariffs would duplicate an existing agency and was unlikely to save money.Yellen, taping an appearance on "The Late Show with Step...Reuters
Thu, Jan 16
Fed’s Beige Book: Economic activity increases slightly to moderately at year-end
The Federal Reserve (Fed) commented in its latest Beige Book survey released on Wednesday that economic activity increased “slightly to moderately” across the US in late November and December, supported by strong holiday sales.Fxstreet
Wed, Jan 15
BoE’s Taylor: Central bank should cut rates pre-emptively
The Bank of England (BoE) policymaker Alan Taylor said on Wednesday that the BoE should move quickly to cut interest rates “pre-emptively” as the UK is “in the last half mile on inflation.” Key quotes "Right now, I think it makes sense to cut rates pre-emptively to take out a little insurance against this change in the balance of risks, given that our policy rate is still far above neutral and would still remain very restrictive.” "We are in the last half mile on inflation, but with the economy weakening,Fxstreet
Wed, Jan 15
TREASURIES-US yields sink as Fed rate cuts still on track after CPI data
US core inflation rises 0.2%, as expectedUS 10-year yield has largest daily fall in two monthsUS 2/10 yield curve flattens after inflation dataUS rate futures price in 38 bps of easing in 2025 Adds new comment, updates pricesBy Gertrude Chavez-Dreyfuss NEW YORK, Jan 15 (Reuters) - U.S. Treasury y...Reuters
Wed, Jan 15
UPDATE 1-US businesses wary of Trump policy impacts, Fed survey shows
Adds details from report in paragraphs 4-7By Ann SaphirJan 15 (Reuters) - The U.S. economy ended 2024 with a slight to moderate increase in activity and a tick upward in employment, the Federal Reserve said on Wednesday, but businesses flagged a range of concerns about the potential for policies und...Reuters
Wed, Jan 15
US businesses optimistic but flag concerns, Fed survey shows
Jan 15 (Reuters) - U.S. economic activity increased slightly to moderately in late November and December, the Federal Reserve said on Wednesday, with employment ticking up and prices rising moderately amid concerns about the potential impact of policies under President-elect Donald Trump. The findin...Reuters
Wed, Jan 15
UPDATE 1-Yellen defends pandemic spending, says it saved millions from losing jobs
Adds Yellen comments from full speech, background in paragraphs 3, 7, 12-13, 16-23Biden spending reduced downside risks, Yellen saysResearchers say 9 million to 15 million more people could have lost jobsYellen calls for continued investment in infrastructure, R&D, workforceYellen sees 'dire' conseq...Reuters
Wed, Jan 15
UPDATE 1-Fed's Williams says policy data dependent in very uncertain environment
Fed's Williams says uncertainty limits monetary policy guidanceMonetary policy is currently well positioned, New York Fed chief saysWilliams says doubts rising bond yields reflect rising inflation fearsAdds comments on Treasury yields, Fed's balance sheetBy Michael S. DerbyHARTFORD, Connecticut, Jan...Reuters
Wed, Jan 15
CORRECTED-Yellen defends COVID spending, says it saved millions from losing jobs
Changes day of Yellen's departure from Treasury job to Monday in paragraph 2Biden spending reduced downside risks, Yellen saysResearchers say 9 million-15 million more people could have lost jobsYellen calls for continued investment in infrastructure, R&D, workforceBy Andrea ShalalWASHINGTON, Jan 15...Reuters
Wed, Jan 15
Fed's Williams ties higher long-term yields to term premium shift
By Michael S. DerbyHARTFORD, Connecticut, Jan 15 (Reuters) - Federal Reserve Bank of New York President John Williams said on Wednesday he does not believe the notable rise in U.S. bond yields reflects a big change in the market’s inflation views. When it comes to long-term bond yields, “we haven't ...Reuters
Wed, Jan 15
Fed's Goolsbee sees progress on inflation, optimistic on soft landing
Jan 15 (Reuters) - Chicago Federal Reserve Bank President Austan Goolsbee said Wednesday he still believes inflation is making progress toward the Fed's 2% goal, and is particularly encouraged by recent easing in housing-related inflation and optimistic for a continued economic soft landing in 2025....Reuters
Wed, Jan 15
WRAPUP 1-Fed officials say latest inflation data helpful as they await Trump policies
Easing December core prices help inflation outlookPolicymakers say disinflation appears to continueThere is uncertainty about impact of Trump administration's policiesBy Howard Schneider, Michael S. Derby ANNAPOLIS, Maryland, Jan 15 (Reuters) - Federal Reserve officials said data released on Wedn...Reuters
Wed, Jan 15
FACTBOX-Brokerages scale back predictions for 2025 Fed cuts after payrolls data
Adds BNP viewBy Chuck Mikolajczak Jan 13 (Reuters) - Several major brokerages have tempered their predictions for how much the Federal Reserve will lower interest rates in 2025, if at all, after a surprisingly strong U.S. employment report on Friday pointed to resilient economic growth.At least o...Reuters
Wed, Jan 15
