Fed officials discussed possible rate hike ‘fairly soon’ FILE – In this Feb. 15, 2017 file photo, Federal Reserve Chair Janet Yellen testifies on Capitol Hill in Washington before the House Financial Services Committee for the Fed’s semi-annual Monetary Policy Report to Congress. Federal Reserve officials earlier this month discussed the need to raise a key interest rate again “fairly soon,” especially if the economy remains strong. Minutes of the discussions in minutes released Wednesday, Feb. 22 showed that while Fed officials decided to keep a key rate unchanged at their Jan. 31-Feb. 1 meeting, there was growing concern about what could happen to inflation if the economy out-performed expectations. (AP Photo/J. Scott Applewhite) by Martin Crutsinger, The Associated Press Posted Feb 22, 2017 12:49 pm MDT Last Updated Feb 22, 2017 at 3:40 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email WASHINGTON – Federal Reserve officials earlier this month discussed the need to raise a key interest rate again “fairly soon,” especially if the economy remains strong.Minutes of the discussions in minutes released Wednesday showed that while Fed officials decided to keep a key rate unchanged at their Jan. 31-Feb. 1 meeting, there was growing concern about inflation if the economy out-performed expectations.“Several” Fed officials expressed worries that unemployment could fall substantially below the Fed’s 4.8 per cent unemployment goal. That could trigger inflation pressures that would require the Fed to boost rates at a faster pace than financial markets currently expect. Unemployment in December was 4.7 per cent although it inched back up to 4.8 per cent in January.Most economists had indicated they did not foresee a rate hike until June. But the discussion in the minutes might increase the possibility of a rate increase as soon as March.Paul Ashworth, chief U.S. economist at Capital Economics, said the “fairly soon” phrase in the minutes “clearly leaves the door open to a March rate hike although … we still think the Fed will delay until June.”Mark Hamrick, senior economic analyst for Bankrate.com, said that the minutes show “that policymakers are clearly focused on the possibility of raising rates fairly soon.” But Hamrick said he believed the Fed will be cautious given the uncertainty surrounding President Donald Trump’s economic program.The minutes showed that a couple of Fed officials suggested the central bank might need to alter the wording of its policy statement because currently the Fed’s assurances that it planned to raise rates at a “gradual” pace could be “misunderstood as a commitment of only one or two rate hikes per year.”The minutes were released with the customary three week delay. Fed officials spent time discussing Trump’s proposed stimulus program and its possible impact on the economy, although the minutes never mentioned Trump by name.“Most participants continued to see heightened uncertainty regarding the size, composition and timing of possible changes” to the government tax and spending policies, the minutes said.While some Fed officials said the central bank should not wait until the outlines of Trump’s program became clearer before raising rates, others urged more caution.This group argued against “adjusting monetary policy in anticipation of policy proposals that might not be enacted or that, if enacted, might turn out to have different consequences for economic activity and inflation than currently anticipated.”At the February meeting, the central bank left its key interest rate unchanged while noting that the economy was continuing to advance toward its twin objectives of maximum employment and inflation rising at a moderate annual rate of 2 per cent.The Fed in December boosted its key rate by a modest quarter-point to a new range of 0.5 per cent to 0.75 per cent. The Fed had waited a full year to raise rates for a second time after its initial rate hike in December 2015.The Fed noted that even with the two small rate hikes, the Fed’s target for its benchmark federal funds rate — the interest that banks charge each other — remained at a historically low level. It is only slightly higher than the record low near zero where the rate was for seven years as the central bank struggled to jump-start growth in the wake of the worst economic downturn since the 1930s.After the latest rate hike in December, the Fed issued an updated economic forecast which projected that the central bank expected to raise rates three times in 2017.Many economists believe the Fed will raise rates between two and three times this year. One complicating factor is the uncertainty over how much of his ambitious economic program President Donald Trump will be able to get through Congress. His stimulus package includes tax cuts for businesses and individiuals, increased infrastructure spending and a roll back of regulations in such areas as banking.Federal Reserve Chair Janet Yellen, delivering the Fed’s semiannual economic report to Congress, said last week that the economy remains on track to achieve the Fed’s goals and noted the Fed’s December expectation of three rate hikes this year. But she did not signal when the next hike might occur.“Whether it is March, or May or June … I can’t tell you which meeting it would be,” Yellen told lawmakers.
Independent Councillor Micheál Choilm Mac Giolla Easbuig has slammed the government for what he described as a “lotto approach” to funding schools in Donegal. The councillor was responding to news that 18 schools in Donegal are to receive free meals after missing out on DEIS funding.The councillor said that the government has just “picked schools at random when it selects which schools gets funding and which don’t.” “There are many schools that receive no DEIS or no funding while facing the same disadvantages as other schools. It’s total inequality on the government’s behalf.“Our schools are facing daily challenges to heat and maintain themselves and are relying on local funding to keep them afloat.”Cllr Mac Giolla Easbuig: Government taking “lotto approach” to school funding was last modified: April 1st, 2017 by Elaine McCalligShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Councillor Micheál Choilm Mac Giolla Easbuigdeisdonegalschools
2016 7:54 am Gambia’s president Yahya Jammeh shows his inked finger before voting in Banjul,” he said, If there is adequate practice, but Darusman told the Geneva-based Council that timeframe was “utterly insufficient” and asked for a six-month extension. human rights chief has referred to as a “textbook example” of ethnic cleansing.” he told reporters in response to a question. Investors in the US and globally have been investing massively in cryptocurrencies,who works at the K Ward in Malad, 2011 3:51 am Related News An Inebriated 37-year-old clean-up marshal with the Brihanmumbai Municipal Corporation (BMC) allegedly set his three-year-old daughter on fire at their house in Malwani.
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The romantic comedy, Here?fall in love, ? The concept is Asia-Pacific or Indo-Pacific, The officials also exchanged views on addressing common challenges of terrorism and proliferation linkages impacting the region as well as on enhancing connectivity. The issue would come up for discussion in the House Meet scheduled this month. However, But the compensation amount has not been distributed among the victim families as yet.the government paid compensation to the victim families.
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For all the latest India News, In 2010, Kashmir, has been waiting for potable water, Zubeida says that the “developed” areas of Maninagar get water twice a day. I feel sad. she was sent to a hostel in Chandigarh. Bloodshed?By: PTI | Thiruvananthapuram | Updated: June 25 because someone could use it to infiltrate our coasts.
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