Digital dollar backers say privacy, trust give US edge over China
In another example of China driving Congress’ agenda, a House task force will on Tuesday hold its second hearing in two weeks on a U.S. digital dollar, a technology that some lawmakers see as essential if the U.S. is to maintain its global economic dominance. At issue is whether the Federal Reserve should issue a central bank digital currency.
Fed walks tightrope between big jobs gap and rising inflation
Federal Reserve officials meet this week faced with ongoing tension between their two main goals, as inflation rises faster than expected even with millions of Americans still unemployed more than a year after the onset of the coronavirus pandemic. In a new policy statement and economic projections due on Wednesday, the U.S. central bank is expected to point to continued strength in the economy and acknowledge the first conversations among its policymakers about when and how fast to pare back the massive bond-buying program launched in 2020 to help battle the recession triggered by the pandemic.
JGB yields track U.S. Treasury yields higher ahead of Fed meeting
(Reuters) - Japanese government bond (JGB) yields rose on Tuesday, tracking overnight gains in U.S. Treasury yields, while investors sold Japanese debt to adjust their positions ahead of Federal Reserve's policy meeting outcome later in the week. U.S. Treasury yields rose from three-month lows overnight as investors awaited for new indicators on when the U.S. central bank is likely to begin paring back its unprecedented monetary stimulus.
Indian shares hit record highs as Asian peers gain; Fed meeting eyed
(Reuters) - Indian shares rose to all-time highs on Tuesday as gains in broader markets helped investors look past data that showed retail inflation hit a six-month high, with the focus shifting to the outcome of the U.S. Federal Reserve's policy meeting later this week. The blue-chip NSE Nifty 50 index rose 0.39% to 15,873.15 and the benchmark S&P BSE Sensex climbed 0.46% to 52,781.57 by 0347 GMT.
Tech shares lead Nasdaq to record as markets await Fed decision
Major US indices finished at fresh records Monday as global equity markets began the week cautiously ahead of a much-anticipated Federal Reserve meeting. Both the S&P 500 and Nasdaq ended at all-time highs, benefiting from a resurgence in technology shares. The first session of the week reflected the latest pivot after a stretch earlier in the year when tech shares lagged other sectors such as financial companies and manufacturers.
Asian shares rise in early trade, investors eye Fed meeting
HONG KONG (Reuters) - Asian shares rose early on Tuesday, tracking Wall Street higher, though investors looked to a much-anticipated Federal Reserve policy meeting to see if the central bank would signal any change to the U.S. monetary policy outlook. Japan's Nikkei rose 0.89% in early trading and MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.23%.
S&P 500, Nasdaq hit record closing peaks on eve of Fed meeting
The S&P 500 and Nasdaq eked out record high finishes on Monday, despite most traders being focused on this week’s Federal Reserve meeting and not on adding to existing positions. Investors are seeking new cues from the central bank on its inflation outlook, after recent data indicated the U.S. economy is regaining momentum but not overheating.
Delicate task for Fed: When to pull back on low-rate support
WASHINGTON (AP) — With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first steps toward dialing back its ultra-low interest rate policies. It will be a fraught discussion, one likely to occur over several months.
Inflation doves are taking a huge risk with global economy
The Federal Reserve allowed US inflation to get out of control 50 years ago - and it could be making the same mistake once again As humans we are hard-wired to be anxious when things are not what we expect. There’s a good reason for that. I protects us from danger, but it also means we are prone to over-react to information that is less important than it appears.
Why 4 Jefferies Franchise List Stocks Could Be Big Second-Half Winners
It is hard to believe, but in just over two weeks the second quarter will come to a close and many investors will be reviewing their portfolios and making changes for the second half of 2021. One thing is looking increasingly likely. At some point in the second half, the Federal Reserve will start tapering its $120 billion per month in asset purchases.
RPT-GRAPHIC-Take Five: Fed-flation in focus
(Repeats item first published on Friday, no changes to text) Markets will listen closely to what the Federal Reserve will have to say on inflation at the end of their two day meeting on Wednesday, amid concerns that trillions in fiscal stimulus will fuel a rise in consumer prices.
PRECIOUS-Gold prices at 1-1/2-week low on dollar strength as Fed meeting looms
* Fed likely to keep flexibility on tapering at meeting - MS * Dollar firms near one-week peak * Specs reduce gold bullish positions in week ended June 8- CFTC (Recasts, adds comments, and updates prices) By Brijesh Patel June 14 (Reuters) - Gold prices slipped on Monday to their lowest in more than a week, weighed down by a stronger dollar, while investors awaited cues from the Federal Reserve policy meeting this week with recent spikes in U.S. consumer prices seen as a temporary blip.
Dollar little changed as traders seek direction from Fed meeting
TOKYO (Reuters) - The U.S. dollar held steady against major currencies on Monday, after posting its biggest weekly gain in more than a month, as traders closed short positions ahead of a Federal Reserve policy meeting this week. The greenback was trading little changed at $1.21075 against the euro in Asia, after touching an almost one-month top of $1.2093 in the previous session, amid caution ahead of the Fed meeting that runs two days to Wednesday.
The Fed says inflation is transitory, but these 10 companies have already said they'll pass along rising costs to customers
New inflation data showed a 5% jump in consumer prices on a year-over-year basis in May. The increase added to the debate about whether is inflation is actually "transitory," as the Federal Reserve has claimed. Detailed below are 10 companies that have already said they're passing rising costs on to consumers.
Fed explores ‘once in a century’ bid to remake the U.S. dollar
The Federal Reserve is taking what may be the first significant step toward launching its own virtual currency, a move that could shake up banks, give millions of low-income Americans access to the financial system and fortify the dollar's status as the world’s reserve currency.
Inflation scare? Look at this chart before freaking out
THE TELL Video: What's Up With Inflation? Not Inflation. (TheStreet) Inflation is on the rise in America, but if price pressures were likely to persist, contrary to the Federal Reserve’s expectations, the data would be painting a different picture, one economist argued Friday.
U.S. regulators tell financial firms no reason to not move on from Libor
(Reuters) - U.S. financial regulators urged market participants on Friday to accelerate their efforts to detach financial products from Libor interest rate benchmarks, which is set to expire for new products at the end of 2021. Federal Reserve Vice Chair Randal Quarles emphasized there is "no path forward" for Libor, and that firms have no reason to delay moving derivatives and other market contracts to the new Secured Overnight Financing Rate.