Warsh Takes Hawkish Turn With Rate Rise and Hints of More to Come
Economists said the Fed chairman's view that policy isn't restraining the economy, and his emphasis on the energy shock, argue for a longer tightening campaign.
----
Fed Policy Outlook Weighs on Yen Ahead of Bank of Japan Decision
The yen has been weakening this week as the Federal Reserve's hawkish policy stance overshadowed expectations of an imminent rate increase from the Bank of Japan. That trend could continue.
----
House Passes Bill to Punish Top Importers of Russian Oil and Gas
President Trump is expected to sign the legislation that gives him new authority to level tariffs.
----
Trump Says Allowing Canada to Become Associate Member of EU Could Be 'Hostile Act'
The president threatened to either cut off trade or impose more tariffs on European countries.
----
U.S. Markets Sell Off After Fed's Warsh Says Inflation Is Still 'Too High'
All three major U.S. stock indexes closed lower for the seventh time in the past eight sessions after the Fed chairman made it clear inflation is still a problem.
----
Higher Interest Rates Lead to More Inflation, Says This Economist. Take That, Central Bankers.
John Cochrane, a senior fellow at the Hoover Institution, says that rate cuts will lower inflation only in the short term so long as fiscal policy favors borrowing and spending.
----
French Bond Yields Are Surging, Too. Will the ECB Step In?
France is running a 5%-of-gross-domestic-product budget deficit, with prospects of consolidation faint at least until presidential elections next April.
----
Diesel Price Hits Record High. An Export Ban Is on the Table.
Record diesel prices are hurting the profits of U.S. farmers and weighing on trucking stocks.
----
Brazil's Central Bank Lowers For Fifth Straight Meeting as Inflation Cools
The bank's monetary committee cut the Selic benchmark rate to 13.75% from 14%, as expected.
----
Bank of Canada Flags Need for Rate Boost Should High Fuel Costs Spill Over, Minutes Say
Senior Bank of Canada policymakers agreed that inflation risks had intensified and rate hikes could be required should evidence emerge of higher fuel costs spilling over to prices of other goods and services.
----
U.S. Crude Oil Stockpiles Post Moderate Draw
U.S. crude oil inventories fell for a third consecutive week while gasoline and distillate stocks saw increases.
----
Canada Housing Starts Edge Down in August
Housing starts across Canada came in at a seasonally adjusted annualized rate in August of 229,046 units, a 0.1% dip from the month before, and under the 240,000 residential projects expected.
----
U.S. Retail Sales Rebound in Show of Consumer Strength
Retailers' sales rose by 1.2% last month, versus the 0.5% decrease recorded in July. The August reading was higher than the 0.8% increase economists expected.