The Federal Reserve now needs to be on Trump watch if it wants to engineer the proper dose of monetary policy, according to Bank of America chief Brian Moynihan. "They've got a new administration with a new set of fiscal policies,
President Trump has said he will "demand" lower interest rates, raising questions about his ability to influence the Federal Reserve.
Fed chair Jerome Powell said he has not talked with Trump since the president demanded last week “interest rates drop immediately.”
That’s the prediction of Bank of America economists who think Canada’s central bank will cut 25 basis points on Jan. 29 and then hold its key rate at 3 per cent. “We expect the forward guidance to signal a pause as the BoC waits to see how both domestic activity and U.S. trade policy play out,” said the economists led by Carlos Capistran.
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The Federal Reserve left interest rates unchanged Wednesday as it began a new wait-and-see policy stance amid a cloudy economic outlook and uncertainty over whether some of President Donald Trump’s policies could stymie the fight against inflation.
Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.
The Federal Reserve held interest rates steady at its January meeting following three consecutive rate cuts amid uncertainty over inflation and economic conditions.
The Federal paused rate cuts after its first meeting of the year — here’s what that means for your credit card, mortgage rate, auto loan and savings account.
Consumer Stress Is on the Rise Rising auto repossessions and a growing rate of minimum credit card payments offer signs consumers may be getting stretched. Those figures complicate the notion that the consumer is relatively healthy,
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