Search Result for : Us Federal Reserve

The Dollar Business Bureau Jerome Powell will succeed Janet Yellen as the next chairman of the US’ Federal Reserve Bank - the most powerful central bank in the world. The selection of Powell has been confirmed by the US Senate with 84-13 vote with support from both Republicans as well as many Democrats. Powell, a 64-year-old lawyer, was nominated by President Donald Trump in November last year. He has served on the Federal Reserve’s board since 2012, and would take over when Yellen’s term expires on February 3, 2018. Yellen, the present chairman of Federal Reserve, was selected in 2014 by President Barack Obama and has been the first woman to be appointed on the position. Powell was seen as a safe choice by ...

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 Keeping in view the US’ recovering economy and the investors’ positive sentiments around it, the US Federal Reserve Chair Janet Yellen on Friday said the fed will adopt a more aggressive rate path ahead, first by raising interest rates at its next meeting on March 14-15, and possibly make further adjustments after the meeting.   "At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal fund rates would likely be appropriate," Yellen said. “We realise that waiting too long to scale back some of our support could potentially require us to raise rates rapidly sometime down the road, ...

The Dollar Business Bureau The Indian capital market witnessed $3 billion of the so-called “hot money” being taken out by foreign investors in 2016 signifying the worst period for foreign investments in the last eight years. The biggest impact was felt by the debt instruments after being the chosen form of investment for foreign funds in recent years. The equities continued to be a part of the net inflows but could not make up for huge outflows from the bond market. According to experts, India can expect a likely respite from the low foreign investment climate in the second half of 2017. Going by the depositories data, Foreign Portfolio Investors (FPIs) bought stocks to the tune of Rs 20,566 crore in 2016, but sold ...

The Dollar Business Bureau In the environment of continuous political and financial uncertainties globally along with recovery in demand in the local market, the prices of gold are expected to remain stable in the range of Rs.30,500–Rs.33500 per 10 grams in spite of the metal having had a golden run up of around 25 percent since January 2016, said an ASSOCHAM Paper. At present, the prices of yellow metal for 24 carat purity are ruling at Rs.31,000-Rs.31,500 in major cities of India, even as the demand in festive season seems to be picking up. “In addition, the demand in festive season will get a further boost from the wedding season that is the major contributor to consumption of gold in the country. The upward ...

The Dollar Business Bureau Federal Reserve Chair Janet Yellen on Monday stressed that despite a relatively weak GDP growth rate early this year, the US economy looks fundamentally solid.“The economy has registered considerable progress over the past several years toward the Federal Reserve's goals of maximum employment and price stability, and there are good reasons to expect that we will advance further toward those goals,” Yellen said at the World Affairs Council in Philadelphia.Listing out some of the positive facets of the current US economic scenarios, Yellen said the US’s overall labour market seems to be good, with rising household income, increasing customer spending, low energy prices, controlled inflation and signs of faster wage growth.She underscored that the domestic demand continues ...

The Dollar Business Bureau The Defend Trade Secrets Act of 2016 (DTSA) that was passed by the US Congress last month is expected to be signed by President Obama very soon. This act has come mostly because of the congressional concerns over the global economic espionage. According to legal experts, the weak protection of trade secrets within the purview of the World Trade Organization (WTO) is the main reason for the congressional demand for action on this law. Also there is no organisation, international law or treaty to protect the trade secrets. Scott McDonald and Jackie Johnson, attorneys at a law firm Littler Mendelson informed that the US has partly gained support from international jurisdictions in preserving trade secrets. This is mainly because ...

The Dollar Business Bureau Amidst positive global signs and a stable demand from stockists, the prices of gold have surged further and hit the Rs 29,000-mark at the national market on Tuesday. Standard gold (with 99.5 purity) jumped by Rs.175 to close at Rs.29,155 per 10 grams from Rs.28,980 of Monday's level. Pure gold (with 99.9 purity) also increased by the same margin to end at Rs 29,305 per 10 grams from Rs.29,130. In the international market, the metal rose to $1,262.79 an ounce on Tuesday, a 3-week high price, since March 18, as investors scaled back expectations on the increase in interest-rates by the US Federal Reserve, lowering the dollar. Gold for immediate delivery rose by 0.2 percent to $1,259.40 an ounce at ...