Fed FOMC Meeting Minutes: Investors gauging the likely size of the Federal Reserve’s interest-rate hike in March and plansfor shrinking a balance sheet now at a record $8.9 trillion will get fresh clues on Wednesday.
Global Economic Growth
India Can’t Afford to Go on a Debt Binge
India’s economy has suffered more than most from the pandemic and so have its people. The country has lost more than a year’s worth of growth and perhaps a decade’s progress in its efforts to reduce poverty. The economic contraction — the first in India since the 1970s — has put pressure on its government like so many others to respond.
The Federal Reserve is Expected to Deliver a 25bp Cut at Each of the Next Five Meetings
The Federal Reserve is expected to deliver a 25bp cut at each of the next five meetings; the target range would also be most likely lowered to 0.75-1.00 percent at the March meeting, according to the latest research report from Danske Bank.
ECB Expected – Interest Rate Unchanged at 0% as Expected
“ECB expects interest rates to remain at their present or lower levels at least through the first half of 2020, and in any case for as long as necessary to ensure continued sustained convergence of inflation to its aim over the medium term.”
Chair Jerome H. Powell – Welcoming Remarks & Outlook
Good morning everyone and thank you to President Rosengren and the Boston Fed for hosting this conference. -The Federal Reserve is strongly committed to stress testing as a cornerstone of our bank supervisory and financial stability missions. Stress testing is perhaps the most successful supervisory innovation of the post-crisis era. But if stress tests are to continue to serve their critical function, they will need to evolve in the years ahead to keep pace with the ever-changing financial system, as they have since the first round of tests in 2009.
The Conference Board Consumer Confidence Index Declined in June
The Conference Board Consumer Confidence Index® declined in June, following an increase in May. The Index now stands at 121.5 (1985=100), down from 131.3 in May. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – decreased from 170.7 to 162.6. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – decreased from 105.0 last month to 94.1 this month.
Coming Days Bullion Market Crash Will Set Off The Biggest Gold Panic Buying in History
Gold Silver Reports (GSR) – While the US and global economies have continued as usual since the Fed and central banks stepped in and propped up the collapsing markets in 2008, this was a one-time deal that can’t be used again.
The Federal Reserve’s Interest Rates will be Decided Today in the US
Gold Silver Reports (GSR) – In the US today, the Federal Reserve will decide on interest rates and before that the move of gold has narrowed down to a small extent. The eye of the market rests on the decision of this meeting. Meanwhile, there is news from the United States about the trade war with China. US President Donald Trump has expressed hope of a reconciliation between the two countries.
Gold Trades Steady as Investors Await Fed Decision – Gold Silver Reports
Gold traded almost steady on Wednesday as investors awaited the U.S. Federal Reserve’s monetary policy decision later in the day, while expectations of an improvement in trade relationship between the United States and China dented the metal’s appeal.
U.S. Treasuries Continue to Gain ahead of weekly initial Jobless Claims, 30-year auction
The U.S. Treasuries continued to gain during Thursday’s afternoon session, ahead of the country’s weekly initial jobless claims, scheduled to be released today by 12:30GMT, and the super-long 30-year Note auction, also due later today by 17:00GMT.