FED English news | FED, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

The US President took aim at the Fed in a series of tweets, the Efe news reported."The EU and China will further lower interest rates and pump money into their systems, making it much easier for their manufacturers to sell product," he said."In the meantime, and with very low inflation, our Fed does nothing - and probably will do very little by comparison. Too bad!"He said the Fed had "raised" too early and that it had missed potential wealth creation.For this reason, the US had been "easy pickens (sic)" for the EU and China.The Federal Open Market Committee, which sets the country's monetary policy, is due to meet at the end of the month amid predictions it could slash the interest rates by a quarter-percentage point.It would be the first time that borrowing rates are cut since the economic crisis a decade ago.For months Trump has criticised Fed Chair Jerome Powell for his monetary policies and has called for a drop in interest rates, which currently sit between 2.25-2.50 per cent.Last week the government reported that the US economy had slowed to 2.1 per cent in the second quarter, down from 3.1 per cent in the first.Although it shows a decrease, the latest figure, which is measured by gross domestic product, was better than some analysts had predicted, a rate of 1.9 per cent.Consumer spending, which accounts for two-thirds of US economic activity, jumped to 4.3 per cent compared to 1.1 per cent registered in the first quarter, while business fixed investment fell to 0.8 per cent, its worse return in three years.Trump arrived at the White House with a campaign pledge to keep the US economic growth above an annual average of 3 per cent, a promise he was yet to keep.In a bid to achieve this, he approved a multimillion-dollar fiscal reform package which entailed notable reductions in taxes for businesses and high-earners and, albeit more moderate, for workers.In recent months, the US economy has been given off mixed signals about its health.The labour market remains sturdy, with an unemployment rate below 4 per cent, levels not seen in half a century, while inflation remains contained and below the annual 2 per cent threshold set by the Fed.( With inputs from IANS )

FedFOLLOW

Fed, Latest News

and has become too much of a convention... ", RBI Governor Shaktikanta Das angry explanation on cutting the repo rate by 35 bps instead of following the tradition of cutting it in multiple of 25 bps. ...

US President Donald Trump has accused China of engaging in "currency manipulation" after the yuan broke below the level of seven yuan per dollar, a situation that has not occurred since 2008, and he urged the Federal Reserve to take measures to count ...

The Indian rupee fell to a five-month low while the gold lost sheen after a surprise hakwish tone of the US central bank on Thursday. ...

Indian investors woke up to another surprise on Thursday as the US Federal Reserve went for a rate cut on the dotted lines but gave a hawkish note on future policy rates amid a marked slowdown in global economic activity. ...

policy, ultimately aim to influence domestic financial conditions which in turn affect economic variables like growth and inflation. Interest rates are only one component of aggregate financial conditions, but probably one that central banks influenc ...

The US Federal Reserve on Wednesday cut its benchmark interest rate by a quarter-percentage point to a target range of between 2-2.25 per cent. ...

US stocks traded higher on Wednesday, as the market was buoyed by Apple's strong quarterly earnings, and investors anticipated the US Federal Reserve to deliver its latest monetary policy, which could possibly lead to the first interest rate cut in m ...

Donald Trump has on Monday urged the Federal Reserve to maintain competitively with the likes of the European Union and China by cutting US interest rates. ...