New Fed vice chair upbeat on USA economy, signals more rate hikes

Drew Angerer  Getty Images President Donald Trump and Federal Reserve Chair Jerome Powell

Trump told the Wall Street Journal on Tuesday that the Federal Reserve Bank was the "biggest risk" to the US economy, and suggested that its Chairman, Jerome Powell, was going on an interest-rate-raising spree because it makes him "happy". Before becoming the president he had complained that the bank is moving very slowly in increasing the interest rates.

U.S. president Donald Trump targeted federal chairman Jerome Powell in his latest tirade against Federal Reserve stating that the organization is the biggest threat to American economy as it is only concerned about raising interest rates that adversely affects borrowing power. "It's turned out that he's not", adding that Powell "almost looks like he's happy" when he raises the rates.

Michelle Smith, a spokeswoman for the Fed, declined to comment on Trump's remarks Tuesday.

President Donald Trump stepped up his attacks on Federal Reserve Chairman Jerome Powell, saying he "maybe" regrets appointing him to the post and demurring when asked under what circumstances he would fire the central bank chief. He had also commented that keeping the interest rates artificially low is affecting the health of the economy.

White man shoots two black customers at Kentucky grocery, police say
Police said there didn't appear to be any connection between Bush and the victims , or any link between Bush and the Kroger store. The tragic shooting at a Kentucky Kroger grocery store has reportedly left two people dead, according to local law enforcement.

Mr Trump said the Fed poses the biggest risk to the USA economy, adding that higher interest rates would slow growth and add to the national debt. Trump blamed the nation's central bank for the latest market turmoil, saying the "Fed has gone insane".

Clarida's speech puts him squarely in the mainstream of Fed thinking, though he did hint that he may favor an earlier stopping point to the current cycle of rate hikes than some of his colleagues who see rates rising to a "restrictive" level of around 3.4 percent sometime in 2020.

"If strong growth and robust employment gains were to continue into 2019 and be accompanied by a material rise in actual and expected inflation", he said, "that circumstance would indicate to me that additional policy normalization might well be required beyond what I now expect".

"I believe some further gradual adjustment in the policy rate range will likely be appropriate", he said.

Son of murdered journalist Khashoggi leaves Saudi Arabia for US
Public Prosecution received the information from the joint Saudi-Turkey team investigating Khashoggi's death . As the investigation into Khashoggi's alleged murder has developed, the USA government has taken some action.

Fed officials raised their benchmark rate by 25 basis points in September. He said that could change if the data move and inflation turns lower.

Perhaps most significantly, President Richard Nixon replaced Martin with Arthur Burns, who caved in to White House pressure for low rates in what is widely regarded as a policy mistake that fed runaway inflation.

Increases in the federal funds rate have a ripple effect on the economy and the stock market. His confirmation helped fill the ranks on the Fed's Board of Governors, which was operating with three out of potential seven members.

Prince Harry lays wreath for veterans in Fiji
The duke spoke of his admiration for the Fijian service personnel at a black tie dinner hosted by the president on Tuesday night. The palace said in a statement, "The Duke and Duchess have chose to cut back The Duchess's schedule slightly".

Related news:

Hot News

isis-killer-beheading-video-story-top Plant City man wins $3 million in Mega Million drawing
Oct 28, 2018 - 06:59
Last month, a drought-stricken farmer in NSW was given some relief after he won $200,000 in the Lucky Lotteries Mega Jackpot draw. Kelley Brooks bought a Mega Millions victor after her husband Larry sent her a reminder text to pick up a ticket.

isis-killer-beheading-video-story-top Netanyahu, Israeli officials make one-day visit to Sultan Qaboos in Oman
Oct 28, 2018 - 05:14
Arab states, including Oman, remain publicly committed to calls for a Palestinian state with east Jerusalem as its capital. Former Prime Minister Yitzhak Rabin made the first visit by an Israeli premier to Oman in 1994.

isis-killer-beheading-video-story-top FBI Used Fingerprints in Mail Bomb Case Arrest
Oct 27, 2018 - 19:15
Most of these explosives are crude pipe bombs coming in a similar kind of yellow packages with a return address of Florida. Officials are trying to determine if the sender or senders was trying to sow fear or actually cause physical destruction.

isis-killer-beheading-video-story-top China and Japan pledge to boost economic cooperation
Oct 27, 2018 - 18:44
Even as China's impression of Japan has recovered from the 2012 crisis, thanks partly to tourism, the Japanese have remained wary. He declined to give details about the leaders' discussions on the territorial dispute, human rights and other sensitive issues.

isis-killer-beheading-video-story-top Dodgers defeat the Red Sox in a marathon World Series Game 3
Oct 27, 2018 - 18:16
Eovaldi said, per the Boston Herald . "After the game was over I started crying", Red Sox starter Rick Porcello said. Neither team got much going in most of the extra innings - no surprise for a game dominated by pitching.

isis-killer-beheading-video-story-top Second Suspicious Package Sent To Fmr. VP Joe Biden
Oct 27, 2018 - 17:45
Cuomo said the two suspicious devices found in New York City shouldn't stop people from going about their business as normal. The common thread among them was obvious: critical words for Donald Trump and frequent, harsher criticism in return.

isis-killer-beheading-video-story-top CIA’s Haspel listened to recording of Saudi writer’s alleged killing
Oct 27, 2018 - 17:21
The CIA's Haspel heard an audio recording of Khashoggi's death during a trip to Turkey this week, sources told Reuters. Representatives of the Central Intelligence Agency declined to comment on Haspel's review of the recording.

isis-killer-beheading-video-story-top My duty is to keep America safe: Trump on bomb threats
Oct 27, 2018 - 15:39
Law enforcement officials say they're increasing security for people or organizations that might be targeted. Debbie Wasserman Schultz was evacuated Wednesday after a suspicious package was mailed there.

isis-killer-beheading-video-story-top Stephens too good for Osaka in WTA finals
Oct 26, 2018 - 06:29
It has been a whirlwind for Osaka since her stunning victory over Serena Williams at Flushing Meadows in September. The 2017 victor defeated the fellow debutant 7-5 4-6 6-1 in two hours and 24 minutes in Singapore .

isis-killer-beheading-video-story-top Modi Govt Affecting CBI's Independence, Ousted Director Alok Verma Tells Supreme Court
Oct 26, 2018 - 04:31
Former prime minister Manmohan Singh and NCP chief Sharad Pawar live near the CBI director's official residence. Verma, along with CBI Special Director Rakesh Asthana , was sent on leave by the government late on Tuesday.

isis-killer-beheading-video-story-top Scientists discover what they say is oldest intact shipweck
Oct 26, 2018 - 00:09
Scientists from the United Kingdom and Bulgaria found on the bottom of the Black sea the ancient ship , discovered to date. Before now, such vessels have only been seen as they were depicted artistically, such as on ancient Greek pottery.

isis-killer-beheading-video-story-top Police investigating suspicious package sent to Robert De Niro in NY
Oct 26, 2018 - 00:05
The police closed off several blocks around the building that houses the film company and De Niro's restaurant Tribecca Grill. The first was addressed to her Washington DC office and intercepted at a congressional mail facility in Maryland, the U.S.

isis-killer-beheading-video-story-top Broncos backup QB Kelly arrested in trespassing case
Oct 24, 2018 - 04:48
The former seventh-round pick has a history of off-field incidents from his time at both Clemson and Ole Miss. A woman was holding her child on the couch inside the home when the man entered uninvited.

isis-killer-beheading-video-story-top Hondurans Continue to Make Harrowing Journey to US
Oct 24, 2018 - 03:04
Even though the goal is to reach the USA border, she said: "We only want to work and if a job turns up in Mexico , I would do it. Maria Teresa Orellana, a resident of the neighborhood of Lorenzo handed out free sandals to the migrants as they passed.

isis-killer-beheading-video-story-top Prince Harry Hopes his Baby With Meghan Markle is a Girl
Oct 24, 2018 - 02:02
What's more, the Duchess's tour style has been well within the bounds of royal protocol - until yesterday, day seven on the tour. The Duchess of Sussex revealed the clearest look yet at her blossoming baby bump as she donned a attractive blue dress in Fiji.