News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Fed on Track to Raise Rates Despite Weak Inflation, Minutes Show

Continue Reading Below

Most Federal Reserve officials believed at their meeting last month that they would likely raise short-term interest rates again this year, though some said their decision would hinge on whether inflation picks up in coming months.

Start Of Fed Balance Sheet Drawdown Going Well, Fed's Bostic Says

Federal Reserve Bank of Atlanta President Raphael Bostic said the start to central bank balance sheet reduction is going well, in part because the economy is in a good place to deal with the shift in monetary policy.

Fed's Fischer Doesn't See Financial-Market Bubble

Departing Federal Reserve Vice Chairman Stanley Fischer told NPR he doesn't think the central bank's policies are fueling a financial-market bubble, even as low interest rates can contribute to rising stock prices.

Continue Reading Below

ECB's Praet Still Sees Insufficient Progress Toward Inflation Goal

A top European Central Bank official warned the bank has made "insufficient progress" toward its inflation target, injecting a note of caution as the ECB prepares to scale down its giant bond-buying program.

Fed's Williams: Gradual Rate Rises Needed for Economy

Federal Reserve Bank of San Francisco President John Williams reiterated his expectation the U.S. central bank will need to press forward with rate increases, although he offered no hints on the timing.

Fed's George: Rate Rises Needed to Ward Off Economic Overheating

Federal Reserve Bank of Kansas City President Esther George shrugged off persistently weak inflation data as a major issue bedeviling policy makers and called for more rate increases to keep the economy from running off the rails.

Trump Touts Tax Plan's Benefits for Households

President Donald Trump said average U.S. households could save $4,000 on their taxes if Congress approves his plan to overhaul the federal tax code, the first such estimate the White House has attached to its proposal.

WSJ Survey: Kevin Warsh Seen as Trump's Most Likely Pick to Lead Fed

Economists see former Fed governor Kevin Warsh as the most likely to be nominated by President Donald Trump to lead the Federal Reserve, followed by Janet Yellen and Jerome Powell, according to a Wall Street Journal survey.

Dollar Falls as Focus Turns to Inflation and the Fed

The dollar declined as minutes from the Federal Reserve's September meeting showed officials are paying close attention to the path of inflation before making a decision about another interest-rate increase this year.

Watch Out As Risky Loans Overtake Junk Bonds

Yield-hungry investors have made borrowing easier than ever for riskier companies. One sign: this year loans have raced ahead of bonds as the preferred form of debt. But when interest rates rise, this preference could mean trouble.

(END) Dow Jones Newswires

October 11, 2017 23:15 ET (03:15 GMT)