Fed’s Mester says Trump criticism doesn’t affect policy decisions

Fed’s Mester says Trump criticism doesn’t affect policy decisions
By Senior economics reporter Cleveland Fed President Loretta Mester said Wednesday that President Donald Trump’s criticism doesn’t affect the central bank’s policy decisions, according to news reports. In a speech in New York, Mester also said the recent drop is stocks had not impacted her upbeat outlook for the economy. Prolonged market weakness may damage the economy and change her... Read More

Eurozone Private Sector Expands At Weakest Pace In 25 Months

Eurozone Private Sector Expands At Weakest Pace In 25 Months
Eurozone private sector activity grew at the slowest rate for over two years in October as an export-led slowdown continued to broaden-out to the service sector amid weak manufacturing performance. The composite output index declined more-than-expected to 52.7 from 54.1 in September, flash data from the IHS Markit’s purchasing managers’ survey showed on Wednesday. The expected score was 53.9, which... Read More

Sandra Day O’Connor says retiring from public life due to health concerns

Sandra Day O’Connor says retiring from public life due to health concerns
By Senior economics reporter Former Supreme Court Justice Sandra Day O’Connor announced Tuesday she’s retiring from public life. In a statement, O’Connor said her doctors have diagnosed her with the beginning stages of dementia, probably Alzheimer’s disease. O’Connor said it was time for new leaders to continue her work to advance civic learning and engagement. She left the court in... Read More

Cohn says Trump shouldn’t comment on Fed or other independent agencies

Cohn says Trump shouldn’t comment on Fed or other independent agencies
By Senior economics reporter Gary Cohn, former senior executive of Goldman Sachs and a former top adviser to President Donald Trump, said Thursday he didn’t think the president should comment on Federal Reserve policy. “I don’t think he should be making comments on any independent agencies,” Cohn said, in an interview on CNBC. Trump has said the Fed is “crazy”... Read More

Majority on Fed believe interest-rate policy will have to become restrictive

Majority on Fed believe interest-rate policy will have to become restrictive
By Senior economics reporter A majority of senior Federal Reserve officials believe that interest rates will have to continue to rise until policy becomes restrictive, according to minutes of the central bank’s September meeting released on Wednesday. A “few” officials thought policy would have to remain “modestly restrictive for a time” while an additional “number” thought policy would need to... Read More

UK Inflation Eases More-Than-Expected On Food Prices

UK Inflation Eases More-Than-Expected On Food Prices
UK inflation slowed more-than-expected in September on falling food prices, giving space for the Bank of England to wait-and-watch for the outcome of Brexit negotiations. Consumer price inflation eased to 2.4 percent from 2.7 percent in August, figures from the Office for National Statistics showed Wednesday. The rate was also below the expected 2.6 percent. Despite a bigger-than-expected fall, inflation... Read More