Tag: Federal Reserve

Big unwind begins: Republicans target crisis financial rules

BY MARCY GORDON WASHINGTON (AP) — Emboldened by a business-friendly president, Republicans in Congress are moving to unwind the stricter regulations that took effect after the 2008 financial crisis and Great Recession. A House committee takes up legislation Wednesday that would defang the tighter rules. While passage by the GOP-controlled House could come in a few months, the Senate – where Republicans have only 52 of 100 seats – poses an obstacle. The 2010 Dodd-Frank law was enacted by Democrats and President Barack Obama to respond to the crisis, putting the stiffest restrictions on banks and Wall Street since...

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Big week for markets: Brexit, Fed and elections to collide

BY PAN PYLAS LONDON (AP) — Investors around the world are bracing for a series of events this week that could potentially cause waves in markets. And, for once, they’re not directly about U.S. President Donald Trump. From the expected launch of Britain’s exit from the European Union to the Federal Reserve’s discussion of another interest rate hike, there’s a lot that could cause volatility and even put a brake on the so-called Trump Bump, the months-long rally in stocks. “This week is most unusual from a macro point of view as there is a heavy concentration of ‘event...

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Higher gas prices push US consumer inflation up 0.4 percent

WASHINGTON (AP) — Rising energy costs pushed consumer prices higher in October, but overall inflation remains tame. The Labor Department said Thursday that its consumer price index rose 0.4 percent last month, the most since April and up from a 0.3 percent increase in September. Over the past year, consumer prices are up 1.6 percent. That’s the most since October 2014 but below the Federal Reserve’s 2 percent annual inflation target. Despite low inflation, the Fed has hinted that it might resume raising U.S. interest rate at its next meeting Dec. 13-14. The Fed raised rates nearly a year...

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US factory activity picked up in September

WASHINGTON (AP) — U.S. manufacturing rebounded in September after contracting in August. New orders and production at factories increased, although employment fell – a sign that manufacturers have yet to fully stabilize after a difficult year. The Institute for Supply Management said Monday that its manufacturing index rose to 51.5 in September from 49.4 in August. Any reading above 50 signals expansion. U.S. factories have faced a brutal slowdown over the past year. The strong dollar made their goods less affordable overseas, hurting exports. Lower oil prices caused energy companies to cut back on orders of equipment and pipeline....

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Strong US Payrolls Give Stock Markets A Boost

  LONDON (AP) — Forecast-busting U.S. jobs data gave stocks a boost Friday, as investors breathed a sigh of relief that a weak reading in May wasn’t a sign that the world’s largest economy was slowing sharply at a time when Britain voted to leave the European Union. KEEPING SCORE: In Europe, the FTSE 100 index of leading British shares was up 0.5 percent at 6,566 while Germany’s DAX rose 1.3 percent to 9,545. The CAC-40 in France was 0.9 percent higher at 4,154. Wall Street was poised for a solid open, with Dow futures and the broader S&P...

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