WSJ Survey: Most Economists Expect Next Fed Rate Rise in December
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Economists surveyed by The Wall Street Journal this month see the Federal Reserve raising interest rates once more in 2017 and three times in 2018, a view that matches the central bank's own projections.
EU Brexit Negotiator: Not Enough Progress to Recommend Next Phase in Talks
The European Union's chief Brexit negotiator said he won't recommend to the bloc's leaders next week that talks with Britain advance to a new stage, saying there was too little progress on divorce issues.
Markets Tread Water as U.S. Banks Kick Off Earnings
U.S. stocks wavered between small gains and losses Thursday, weighed down by declines in bank stocks.The S&P 500 declined less than 0.1%.
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Draghi Says ECB's Negative Rates Have Been a Success
European Central Bank President Mario Draghi said the central bank's negative interest-rate policies haven't hurt bank profitability as critics suggested they would, and he reiterated the ECB's guidance that asset purchases would continue until officials see a sustained improvement in the outlook for inflation.
Economists Split Over GOP Tax Plan's Long-Term Effects on Growth
Economists say the Republican plan to overhaul the U.S. tax code would likely lift economic growth in the short term, but they are split over whether the boost would last longer than a few years.
U.S. Oil Inventories Decline More Than Expected
U.S. inventories of oil fell by 2.7 million barrels for the week ended Oct. 6, more than the 1.7 million barrels expected, as gasoline supplies rose and refinery activity sped up, according to EIA data.
Fed's Fischer: Flexible Inflation Targeting Makes 'Some Sense'
Federal Reserve Vice Chairman Stanley Fischer Thursday said flexible inflation targeting "seems to make some sense," and praised the usefulness of having an inflation range at the Bank of Israel, which he ran from 2005 to 2013.
Bitcoin Surges Above $5,200 on Hopes of Renewed China Trade
Bitcoin set a fresh record above $5,200 as investors bet on China easing trading restrictions and reacted to a prominent hedge fund manager predicting the price of the virtual currency could rise to $10,000 within a year.
Fed's Brainard: Neutral Interest Rate May Pose Risks to Inflation Expectations
Federal Reserve governor Lael Brainard warned Thursday that the persistently low level of the underlying rate of interest that keeps the economy on an even keel, the so-called neutral rate of interest, may pose risks to inflation expectations and even financial stability.
Fed's Powell Strikes Optimistic Tone on Global Economy
Federal Reserve governor Jerome Powell gave an optimistic speech about the state of the global economy Thursday, saying that signs of a sustainable global recovery are materializing and emerging markets appear ready to manage a return to normal economic conditions
(END) Dow Jones Newswires
October 12, 2017 13:15 ET (17:15 GMT)