Search Result for : Federal Reserve

The Dollar Business Bureau Estimating a positive economic prospect for the US, Janet L Yellen, Chairwoman, Federal Reserve System Board has told the American lawmakers that the world growth is likely to boost the US exports. “I expect that, with further gradual adjustments in the stance of monetary policy, the economy will continue to expand at a moderate pace over the next couple of years, with the job market strengthening somewhat further and inflation rising to 2%,” she told House Finance Services Committee members during a Congressional hearing. “This judgement shows our view that the monetary policy continue to be accommodative. The present job gains would continue supporting the growth in incomes, thereby consumer spending. The world economic growth should further support US ...

The Dollar Business Bureau The Finance ministry led Public Debt Management Agency (PDMA) is likely to replace the Reserve Bank of India (RBI) as the national debt-manager by Q4 2018, according to news reports. The new agency will consolidate major debt-management functions of the government’s borrowing and debt programs, and more importantly eliminate the ‘conflict of interest issues’ arising from RBI’s (the current manager) regulatory tasks such setting up of monetary policies and interest rates. Among its major responsibilities, the PDMA would manage the Union and State’ governments and market borrowings, and involve in the issuance of sovereign gold bonds. The agency would also maintain a database of cash balances, forecast cash and foster liquidity and an efficient market for government securities ...

The Dollar Business Bureau  The two-day Federal Reserve meeting concluded with an unchanged rate of interest with the policy-makers hinting at an expected surge in the month of December. This was the last decision by the reserve before the US elections slated for November 8. The policymakers also observed that inflation was moving towards their expected target of 2%. The Federal Reserve said that the US economy is becoming better, thus allowing interest rates to rise soon and lead to a strengthening case of more expensive loans. This was apparently not good news for some investors who sold off stocks after the release of the statement. Though the labor market witnessed a modest pace of growth in the first half of 2016, the ...

The Dollar Business Bureau The country’s economy would perform better in the second half of the financial year, said the recent ASSOCHAM Bizcon Survey. The survey said that the trend seems to have started from the quarter beginning October, with 66.7% respondents expecting an upward trend in sales, capacity utilisation, but the positive sentiments on fresh investment are tentative.    The increased spending on infrastructure development, mainly in the government, appears as the major driver for the turnaround in the economic growth outlook for the given quarter and the last quarter period of this fiscal.    The other best drivers for the positive economic outlook are effective policy reforms and stable rates of foreign exchange of Indian currency in spite of global head ...

The Dollar Business Bureau Finance Minister Arun Jaitley on Wednesday said that the government will continue with the tax reforms, repair the banking structure and to get moving stalled infrastructure projects to drive growth. However, it is not still ready to sell off its state-run banks.   On the top of economic policy priorities, Jaitley said that he was firm on sticking to a ‘very stiff’ timetable that foresees passing crucial enabling legislations for the new goods and services tax (GST) this season.   He said that once implemented, the new GST would have a ‘transformational’ effect by developing a common marketplace for the first time in the country, whereas also serving as a transfer mechanism that would support the poorer federal states.  The aim of ...

The Dollar Business Bureau Crude oil prices fell more than 1% on Monday as investors accumulated profits after three weeks of gains. Early Monday, Brent crude was trading at $44.61/ barrel, down 1.1%, or 50 cents. The International Energy Agency (IEA) predicts crude oil prices to gradually pick up in 2018, but only after oil output in China, Colombia, Mexico, Russia and the US reset the global supply and demand prospects. The IEA forecasts oil demand growth to be around 1.2 million barrels in 2016, a rise in more than 33% slump from over 1.8 million-barrels-a-day expansion in 2015. "Fundamentals remain bearish and are set to deteriorate further, especially if prices move higher," Morgan Stanley said in a statement. "Still-elevated inventory levels, the return of ...

The Federal Reserve cut its outlook for the US economy and kept its interest rate policy unchanged today, citing the impact of the global slowdown and turmoil in world markets Source: PTI Fed Chair Janet Yellen said gains in prices relate to "categories that tend to be quite volatile, without very much significance for inflation over time.   The Federal Reserve cut its outlook for the US economy and kept its interest rate policy unchanged today, citing the impact of the global slowdown and turmoil in world markets. Giving a picture of the US economy that was less bullish than many had expected, the Fed still forecast continuing hikes to the benchmark federal funds rate this year, but at a slower pace than foreseen ...