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.
Markets Tread Water Ahead of U.S. Bank Earnings
Stocks stalled in Europe but rose in Asia after major U.S. indexes climbed to fresh records. As bank earnings season kicks off, investors will be watching to gauge the health of the U.S. financial system and the outlook from executives for the final quarter of the year.
Global Oil Supply Lifted by Steady U.S. Production, IEA Says
The world's oil supply expanded in September on the back of steady U.S. production growth, even as the global market continued to show signs of rebalancing, the International Energy Agency said.
Continue Reading Below
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.
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.
(END) Dow Jones Newswires
October 12, 2017 05:15 ET (09:15 GMT)