Despite Trump criticism, Fed sees need for more rate hikes

Screenshot  FOX Business

Screenshot FOX Business

Members of the Federal Open Market Committee, which determines the Fed's monetary policy, didn't bother to discuss comments made by Trump warning against further increases in the central bank's benchmark interest rate, according to minutes of the September 25-27 meeting released Wednesday.

Others said that, to avoid creating asset bubbles or having inflation run above the Fed's 2 per cent target for too long, the central bank would have to raise rates "above their assessments of its longer-run level".

But some Fed members warned that instability in emerging economies - many of which are heavily indebted and vulnerable when U.S. rates rise - could "spread more broadly through the global economy and financial markets". "And it's too independent, so I don't speak to [Trump-appointed Fed Chair Jerome Powell], but I'm not happy with what he's doing, because it's going too fast, because - you looked at the last inflation numbers, they're very low".

Trump made his comments in an interview with Fox Business Network's Trish Regan. Right now, however, inflation rates are unusually low for an economy with such a low unemployment rate. The central bank has raised its key policy rate three times this year and is expected to do so again before year's end.

President Trump has recently renewed criticism of the Fed and its interest rate hikes.

Google Pixel 3's OLED panel is LG-made, teardown reveals
In line with this, Titan M enables Protected Confirmation , a new set of APIs in Android 9.0 Pie that protects critical processes. This prevents malicious software from moving your device back to older, more vulnerable versions during booting.

Kanye West gifts President of Uganda with trainers
We have concepts talking about body shaming and women being looked down upon [because of] how many people they slept with. It said that during the meeting, West "expressed happiness at being in Uganda, describing it as his second home".

Royal Tour: Prince Harry and Meghan Markle visit Melbourne day 3
Not only is he a military veteran, a loving husband and a doting father-to-be, but he can also be counted as a dog whisperer. She said: "The baby will be intelligent, funny, cute as a button and I think really funny and loving between Harry and Meg".

The Dow Jones industrial average on Wednesday fell 91.74 points, to 25,706.68.

In February, Trump tapped Powell, then a member of the Fed's board, to become chairman after he had decided not to offer Yellen a second four-year term.

Fed officials overall expect rates to rise to 3.1 percent next year and 3.4 percent in 2020, just above their 3 percent estimate for the long-run "neutral" rate at which borrowing costs are neither braking nor stimulating economic growth.

But Trump's complaints don't seem to have fazed the honchos at the world's most important central bank.

Furthermore, "some" at the meeting said that risks grew as the United States economy increasingly outpaces its rivals' more sluggish growth "because of the potential for further strengthening of the dollar". But the courts ruled in a case decades ago involving the Federal Trade Commission that this language has to involve more than a policy disagreement between the president and the Fed.

Recommended News

  • Bellinger hitting leadoff vs. Brewers in Game 5

    Bellinger hitting leadoff vs. Brewers in Game 5

    This sets up Wade Miley to start Game 6 in Milwaukee and Jhoulys Chacin Game 7 - instead of Chacin in Game 6 on short rest. Barnes' single not only brought home Taylor, but it made a hard decision an easy one for manager Dave Roberts.
    Sheriff: 400 tips in Jayme Closs case

    Sheriff: 400 tips in Jayme Closs case

    Authorities have not released details about the deaths - including how the parents were killed or how long they had been dead. Jayme Closs is 5 feet tall, weighs 100 pounds and has green eyes and blond or strawberry hair, the sheriff's department said.
    Things That Are Still Illegal in Canada Despite Marijuana Legalization

    Things That Are Still Illegal in Canada Despite Marijuana Legalization

    Canada is a part of marijuana history after becoming only the second country in the world to legalize it recreationally. " We're doing it because we know it's not good for our children". "I'll be happier when we ship more product".
  • Raptors host Cavaliers in matchup of new-look clubs

    Raptors host Cavaliers in matchup of new-look clubs

    Cleveland Cavaliers forward Larry Nance Jr . could miss Wednesday's season opener against the Toronto Raptors . Kevin Love led the team in scoring with an inefficient 21 points on five-of-18 shooting from the field.
    Fed signals more rate hikes despite emerging market 'stress'

    Fed signals more rate hikes despite emerging market 'stress'

    Under Powell, the Fed has been gradually raising rates as the economy has strengthened as a way to prevent a run-up in inflation. Based on current economic forecasts, the Fed expects to boost rates once more in 2018, followed by three rate hikes in 2019.
    Britain records surge in religious hate crime Home Office data

    Britain records surge in religious hate crime Home Office data

    The former police officer chatted to youngsters and outlined his vision for combatting crimes against people based on prejudice. There were 80,393 hate crimes recorded by police in England and Wales in 2016/17, an increase of 29% compared with 2015/16.
  • Cardi B reveals her vagina broke during birth of her daughter

    Cardi B reveals her vagina broke during birth of her daughter

    Cardi also said that her fame is restricting her from doing everything she'd like to as a new mother. I'm not mentally ready - paparazzi be everywhere , like, even in my a--e.
    US airstrike kills 60 al-Shabaab militants in Somalia

    US airstrike kills 60 al-Shabaab militants in Somalia

    Since 2007, the USA military's combat drones have waged war against al-Qaeda's affiliates in Somalia, among them Al-Shabaab. The statement gave no further details about what was targeted, and a U.S. military spokesman said it was not a camp.

    CDC: 'Mystery illness' leaving dozens of children paralyzed

    Some patients diagnosed with AFM recover quickly, while some continue to have paralysis and require ongoing care, Messonnier said. Neurological conditions like it have a variety of causes, such as viruses, environmental toxins and genetic disorders.
  • Hot Holiday 2018 Gift: All-New Waterproof Kindle Paperwhite

    Hot Holiday 2018 Gift: All-New Waterproof Kindle Paperwhite

    It has a flush finish, scratch-resistant display with no raised bezel, and it's now water-resistant, just like its luxury sibling. Improved homepage: which makes way for a new category of sub-menu that provides suggestions based on your reading behavior.
    Theresa May considers longer transition to break Brexit deadlock, sources say

    Theresa May considers longer transition to break Brexit deadlock, sources say

    Britain leaves the European Union on March 29, but a deal must be sealed soon so parliaments have time to give their verdict. It comes after a summit of European Union leaders in Brussels failed to make decisive progress in reaching an agreement.
    The hilarious comment Prince Harry made about an Aussie lifeguard's feet

    The hilarious comment Prince Harry made about an Aussie lifeguard's feet

    Eagle-eyed fans spotted Meghan with her mobile phone out while in Melbourne - in a rare move for a senior royal. The couple had lunch at the social enterprise restaurant Charcoal Lane, prepared by young indigenous chefs.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.