Trump renews Fed attack over rates

Embedded Image

On Monday Trump vented in a CNBC interview that the USA central bank doesn't "listen" to him and contrasted its lack of obedience with the control that Chinese President Xi Jinping wields over the People's Bank of China.

US inflation was 1.5% in April, according to the Fed's preferred gauge, and has been under its 2% target for most of the last seven years.

The Federal Reserve's Federal Open Market Committee, charged with setting key USA interest rates, could decide to cut rates in coming months given recent weak job and inflation data. The cut will also be the first time the Fed has slashed rates since the financial crisis.

FedWatch tool CME stated that around 65 % of the market expects interest rate cuts at July meeting of Federal Bank.

Fed Chair Jerome Powell and other officials insist they can only consider what is happening in the economy and the appropriate policy response, and not try to second guess what the administration does or might do.

Last week, Powell helped fuel a rally in the stock market by holding out the possibility that the Fed will soon cut rates to protect the economic recovery from any damage resulting from Trump's trade wars. It tends to run slightly below the Labor Department's CPI.

The dollar fell on Wednesday as rising trade tensions between Washington and Beijing and growing bets on a US interest rate cut sapped investor demand for the currency.

Fourth American reported dead at Dominican Republic resort in past two months
David Harrison , a Maryland resident, also died past year at the Hard Rock Hotel & Casino resort, the New York Post reported. Dominican authorities also ruled his death was due to pulmonary edema and a heart attack.

Square Enix Assembles AVENGERS Cast Of Non-Actionable Likenesses
Over time, we'll see new heroes join the Avengers roster as well, with Ant-Man teased as the first add-on hero. The new game is being developed by Tomb Raider team Crystal Dynamics, in conjunction with Eidos Montreal.

HTC U19e with Snapdragon 710 SoC & Desire 19+ Smartphones Launched in Taiwan
While there is no 3.5mm audio jack, the device comes with HTC BoomSound Hi-Fi dual speakers with stereo surround sound effect. Today, they announced the HTC U19e , a mid-range phone with decent specs that likely won't show up on USA soil any time soon.

The personal consumption expenditures (PCE) price index, which is the Fed's preferred measure of inflation, reached a 2019 high back in April when the index came in at 1.5% and 1.6% after food and energy items are excluded.

Housing costs have been rising steadily as rents have increased 3.7 percent in the latest 12 months, while the rent equivalent for homeowners in up 3.3 percent, according to the data.

Healthcare costs increased 0.3%, matching April's rise. But the prices for prescription medication fell 0.2 per cent.

The dollar slipped as much as 0.2% against the pound, taking its losses to almost 1% so far this month. Food prices rebounded 0.3 per cent in May after dipping 0.1 per cent in the prior month.

The index for used cars and trucks slumped 1.4% in May, the fourth straight decline.

The so-called core CPI was held down by a sharp decline in the prices of used motor vehicles and trucks as well as medical care products. Household furnishings are likely to trend higher in the coming months because of U.S. President Donald Trump's decision in early May to slap additional tariffs of up to 25 per cent on $200 billion of Chinese goods.

Related:

  • Musk touting Tesla with over 650km range in the near future

    Musk touting Tesla with over 650km range in the near future

    Tesla's current quarterly records came during the final three months of previous year when it manufactured more than 85,500 vehicles and delivered 90,700.
    American Airlines cancels flights past Labor Day

    American Airlines cancels flights past Labor Day

    The FAA's acting chief, Dan Elwell, told reporters last month he does not have a specific timetable to unground the 737 MAX. American and Dallas-based Southwest Airlines are the USA carriers with the most Max planes in their fleets.
    You can see Jupiter’s moons with your binoculars today

    You can see Jupiter’s moons with your binoculars today

    If you own a telescope, you may also be able to make out individual cloud bands and Jupiter's characteristic Great Red Spot. As an added treat, stargazers can catch four of Jupiter's brightest moons armed with only a pair of binoculars.
  • United Kingdom  and S Korea signal preliminary substitute deal

    United Kingdom and S Korea signal preliminary substitute deal

    Worldwide trade secretary, Liam Fox , agreed the deal with South Korean trade minister , Yoo Myung-hee, in Seoul, on Monday. The agreement is roughly in line with the terms of the existing Korea-EU FTA.
    Ottis Gibson irked by De Villiers storm

    Ottis Gibson irked by De Villiers storm

    South Africa has failed to leave a mark at World Cup 2019 as they have lost three consecutive matches. The money will come today or tomorrow but you heed the call of making money and ignore the World Cup.
    Chelsea Have Started Talks With Rafa Benitez For Next Manager

    Chelsea Have Started Talks With Rafa Benitez For Next Manager

    I don't think he would go in there and be phased by big personalities in that changing room". He trained the younger kids at the club.
  • Samoa bans Elton John movie 'Rocketman' due to homosexuality

    Samoa bans Elton John movie 'Rocketman' due to homosexuality

    The censor furthermore added: 'It's a good story, in that it's about an individual trying to move on in life'. Apollo Cinemas Samoa over the weekend announced it would not be screening the film due to "censoring issues".
    Viewers think Danny is being fake towards Yewande — ITV Love Island

    Viewers think Danny is being fake towards Yewande — ITV Love Island

    Viewers have been voting for who they'd like her to date, and she meets the victor of the public vote in the hideaway. I think it's good that I make it clear where my head's at and that I'd prefer not to be broken up in my couple".
    Theresa May: a legacy sunk by Brexit

    Theresa May: a legacy sunk by Brexit

    Once two candidates are remaining, some 160,000 Conservative Party members across the United Kingdom will vote between the two. Hardline Brexiteers view it as a mechanism to prevent MPs voting to block a no-deal Brexit on October 31.
  • Alabama OKs Chemical Castration for Some Sex Offenders

    Alabama OKs Chemical Castration for Some Sex Offenders

    MI used to have a law mandating chemical castration as a parole condition, but an appeals court in 1984 ruled it unlawful. The parolee is required to pay for the treatment unless it's determined he can not .
    Senators hope to force vote on US arms sales to Saudi Arabia

    Senators hope to force vote on US arms sales to Saudi Arabia

    "The fact that Lindsey is leading the resolution tells you that things are shifting inside the Republican caucus", said Sen. But lawmakers have never tried to pass a resolution of disapproval after a president has invoked the emergency provision.

    Mark Murphy on Recent Tourist Deaths in Dominican Republic

    Dominican authorities also ruled his death was due to pulmonary edema and a heart attack. "He was fine", Arnold said. A fourth tourist has died under mysterious circumstances after falling ill at a resort in the Dominican Republic .

Comments

Latest news

Facebook launching app that pays users for data on app usage
Messenger is chock-full of features, and in recent months, the app's received a visual refresh to make it much easier on the eyes. Mark Zuckerberg's company just launched 'Study from Facebook' for Android smartphone users to see what the competition is up to.

California OKs healthcare for some adult immigrants
This follows the agreement made between legislative leaders on Sunday, June 9, which is part of Democratic Gov. State officials estimate that group will be about 90,000 people at a cost of $ 98 million per year.

Cyclone Vayu turns 'very severe', will remain strong even after landfall
Gujarat is also home to large refineries and sea ports near the storm's path. MHA is in continuous touch with the State Govts/UT and Central Agencies.

The acquisition of Tableau by Salesforce: industry insights
The company has grown rapidly, reporting fiscal 2018 (ended December 31, 2018) revenue of $1.16 billion, up 18 percent from 2017. With Tableau, Salesforce will be able to help companies tap into data they have, make smarter decisions and boost innovation.

Stock skyrockets after shareholder bid to take retailer private
Sears Chairman Edward Lampert also orchestrated deals to keep the retailer alive, before it filed for bankruptcy past year . Proceeds from its Signa deal will be used to reduce Hudson's Bay's debt, making a take-private deal more easy to finance .

Award winning goalkeeper wants Manchester United move should David de Gea leave
But, the Slovenian worldwide is now intent on securing an exit after he feels let down by the club's transfer planning. Manchester United were believed to be looking at Lille goalkeeper Mike Maignan as a possible replacement for de Gea .

'Stop judging these women' - Wambach defends USA's excessive celebrations during Thailand thumping
After watching Sweden take a lead in group play with a 2-0 win over Chile, the USA women responded by dismantling Thailand. Thailand´s deflated coach Nuengruethai Sathongwien said she had no excuses, adding: "We accept that they are better".

Gwyneth Paltrow reveals she and her husband don't always live together
Friends: Speaking about the Coldplay rocker's new girlfriend, Gwyneth gushed to the publication: "I adore her". Paltrow, 46, told The Sunday Times that she only lives with her 48-year-old husband four days a week .

Opera launches Opera GX, world's first gaming browser
Overall, Opera GX includes all the features present in Opera's main desktop browser, now used by over 65 million users. Opera teased the world's first gaming browser a few days back with a promise of bringing it soon to the market.

Houthi Attack on Saudi Arabia's Abha Airport Injures 26
Houthi-backed Al Masirah TV made the announcement and claimed the rebels had targeted the airport with a cruise missile. Flights out of the airport resumed around four hours after the incident, although an EgyptAir flight was cancelled.

Rain postpones Cup race to Monday
The race never began Sunday, and the postponement was announced after a delay of about 2½ hours from the scheduled start time. Joe Gibbs Racing already has nine victories this season, but Gibbs has only one win in the past 14 races at MI .

Pilot who crashed helicopter in NYC radioed he was lost
McCormack was the only fatality reported from the crash on top of the 750-foot AXA Equitable building in Midtown Manhattan . McCormack was "a highly seasoned" and "very well regarded" pilot, Linden airport director Paul Dudley said.

Audi Recalls 1644 e-Tron SUVs Globally
The Problem: This Tesla Model X-competitor is under recall for a potential issue involving the regenerative braking system. A total of 1,644 E-Trons have been shipped to the USA , and the remainder will be fixed before being handed to customers.

Sherif Lanre leaves Love Island after 'breaking rules'
What did Sherif Lanre do on Love Island? However, The Mirror claims these are some of the house rules for this season. Sherif then released a statement via MailOnline about the matter but it's predictably vague on the details.

Mi Band 4 with colour OLED display announced
There's now a colored AMOLED display, AI assistant integration, and improved exercise tracking baked into the Mi Band 4 . The device is 5 ATM rated water proof and tracks swimming strokes like breaststroke, backstroke, butterfly and others.

Other news