Today: 18.06.2018
News
Opinion
Business
Living
Metro
Tech
Sport

Last News

15:59
Today
15:31
Today
15:22
Today
15:12
Today
15:10
Today
14:49
Today
14:44
Today
14:43
Today
14:25
Today
14:09
Today
13:53
Today
13:46
Today
13:24
Today
13:18
Today
12:25
Today
12:19
Today
12:05
Today
11:51
Today
11:45
Today
11:37
Today
11:11
Today
11:00
Today
10:42
Today
10:38
Today
10:12
Today
10:03
Today
09:44
Today
09:42
Today
08:20
Today
08:17
Today

Wall Street looks for clues from tight-lipped new Fed chair.

The biggest riddle on Wall Street is about the man in the middle of it. Investors on Friday scrambled to interpret the first major report issued by Jerome Powell, the new head of the Federal Reserve — and how high the central bank honcho will hike the cost of borrowing money. Specifically, investors want to...
Time: 23:03     Date: 23.02.2018
Last US Business News: Wall Street looks for clues from tight-lipped new Fed chair. NY Post 24 - US News

Investors on Friday scrambled to interpret the first major report issued by Jerome Powell, the new head of the Federal Reserve — and how high the central bank honcho will hike the cost of borrowing money.

Specifically, investors want to know if Powell — who lately has unsettled some investors with his silence amid recent violent market swings — will stay the easy-money course or take a hawkish stance and raise interest rates by a full 1 percent this year — a pace not seen since 2004.

That speculation ramped up on Friday when the Fed released a semi-annual monetary report to Congress that was about as inscrutable as Powell himself.

The report painted a picture of good economic news, with the job market at or near full employment, solid growth and expectations that inflation will hit the 2 percent target by the end of the year — but didn’t give any hints about how much the Fed would hike rates this year.

San Francisco Fed President John Williams was more explicit at a town hall in California on Friday, saying that the economy hadn’t changed enough to raise rates by more than 0.75 percent in three rounds of hiking.

Wall Street took that as good news. The Dow Jones industrial average ended 347 points higher on Friday, at 25,309.99.

But investors worry that when Powell goes before Congress next week — for many, the first time they will have heard his voice — he will come out more hawkish than anticipated.

“Maybe we finally got a Fed Chair who thinks the economy is stronger than you think. Rate hikes are coming. Bet on it,” Chris Rupkey, chief financial economist at MUFG, said in a research note.

Powell, a Princeton grad who ascended to the head of the central bank this month, is taking the reins of the Fed after nearly 10 years of rock-bottom interest rates and a balance sheet with $4.4 trillion in liabilities he inherited from predecessors Ben Bernanke and Janet Yellen.

“In many respects, Powell wants to distance himself from Bernanke and Yellen and wants to get the marketplace back on even keel,” Ablin said.

If Powell ends up hiking rates four times this year by a total of 1 percent, investors worry that could put the brakes on growth and send the stock market and housing prices tumbling.

But that all might be overblown, Bruce Bittles, chief investment strategist at RW Baird, told The Post.

“I don’t think he’ll deviate from Yellen’s strategy much, if at all,” he said—noting that Powell voted with Yellen 100 percent of the time when she was the chair.

Business

Last US Business News: AT&T basically now owns everything except your soul. NY Post 24 - US News
AT&T basically now owns everything except your soul.
Earlier this week, a judge decided the fate of the AT&T-Time Warner deal, and the result was a big thumbs-up in the general...
Last US Business News: Bank of International Settlements says Bitcoin is not a trustworthy currency. NY Post 24 - US News
Bank of International Settlements says Bitcoin is not a trustworthy currency.
Bitcoin doesn’t cut it as a currency. The problem with the cryptocurrency and its brethren is that they are not scalable...
Last US Business News: This is how Trump’s corporate tax cut is backfiring. NY Post 24 - US News
This is how Trump’s corporate tax cut is backfiring.
The corporate tax cut passed by President Trump and fellow Republicans that was in part designed to help dissuade US companies...
Last US Business News: Audi CEO detained in diesel emissions case. NY Post 24 - US News
Audi CEO detained in diesel emissions case.
BERLIN — German authorities on Monday detained the chief executive of Volkswagen’s Audi division, Rupert Stadler, as...

Opinion

Last US News - Opinion: Watergate prosecutor says Mueller should wrap up now and other commentary. NY Post 24 - US News
Watergate prosecutor says Mueller should wrap up now and other commentary.
Historian: To Stop Trump, Dems Need the Senate Democrats increasingly are focused on regaining control of the House. But...
Last US News - Opinion: Trump’s trade policy, IG report leads to stock market jitters. NY Post 24 - US News
Trump’s trade policy, IG report leads to stock market jitters.
What happens in Vegas may stay in Vegas — but what happens in Washington goes around the world in a blink of an eye. US...
Last US News - Opinion: The stunning evidence of Harvard’s racism. NY Post 24 - US News
The stunning evidence of Harvard’s racism.
Harvard University records unveiled Friday show the school engages in blatant, egregious racism in the name of diversity....
Last US News - Opinion: Keep breaking the Albany logjams. NY Post 24 - US News
Keep breaking the Albany logjams.
As state lawmakers get set to wrap up for the year, some logjams are starting to break. Let’s hope the trend continues....
Last US News - Opinion: Stop breaking up families at the border. NY Post 24 - US News
Stop breaking up families at the border.
House Speaker Paul Ryan says he wants to stop the mass separation of children from their families along the border, but his...

Living

US Living News: Going gluten-free linked to unhealthy weight loss behaviors. NY Post 24 - US News
Going gluten-free linked to unhealthy weight loss behaviors.
Gluten-free eating has a dark side. A new study led by researchers at the University of Minnesota found that young adults...
US Living News: How to keep your cool when your job drives you insane. NY Post 24 - US News
How to keep your cool when your job drives you insane.
Work on your anger. That’s what most Americans are doing, anyway: More than half (52 percent) of employees said they’ve...
US Living News: Millennials are uniformly bad tippers. NY Post 24 - US News
Millennials are uniformly bad tippers.
Hot tip for millennials: Tip your waitstaff. Millennials are cheapskates compared to other generations, a new CreditCards.com...
US Living News: Animal rescuers race to end China’s annual dog meat festival. NY Post 24 - US News
Animal rescuers race to end China’s annual dog meat festival.
The ninth annual ten-day Yulin Lychee and Dog Meat festival in China’s Yulin, Guangxi, is slated to begin on June 21, sending...
US Living News: Dogs vs. Cats: Scientists finally reveal which is smarter. NY Post 24 - US News
Dogs vs. Cats: Scientists finally reveal which is smarter.
A dog’s bark is only a ruff means of communication. Instead, we should be looking at its wiggles and squirms. Jumping...
US Living News: Philanthropy is the latest sign that the rich are getting richer. NY Post 24 - US News
Philanthropy is the latest sign that the rich are getting richer.
The US cleared a generous milestone in 2017, with Americans donating a record amount to charity. But the numbers are also...
US Living News: 1,000-year-old Arabic amulet discovered in Jerusalem. NY Post 24 - US News
1,000-year-old Arabic amulet discovered in Jerusalem.
Archaeologists in Israel have unearthed an extremely rare ancient clay amulet with a blessing in Arabic. The clay artifact,...
US Living News: Army algorithm optimizes caffeine ‘dosing’ for civilians. NY Post 24 - US News
Army algorithm optimizes caffeine ‘dosing’ for civilians.
If you’ve ever wanted to know the best time of day to drink coffee to maximize the benefit or neurobehavioral performance,...

Business

Last US Business News: AT&T basically now owns everything except your soul. NY Post 24 - US News
AT&T basically now owns everything except your soul.
Earlier this week, a judge decided the fate of the AT&T-Time Warner deal, and the result was a big thumbs-up in the general...
Last US Business News: Bank of International Settlements says Bitcoin is not a trustworthy currency. NY Post 24 - US News
Bank of International Settlements says Bitcoin is not a trustworthy currency.
Bitcoin doesn’t cut it as a currency. The problem with the cryptocurrency and its brethren is that they are not scalable...
Last US Business News: This is how Trump’s corporate tax cut is backfiring. NY Post 24 - US News
This is how Trump’s corporate tax cut is backfiring.
The corporate tax cut passed by President Trump and fellow Republicans that was in part designed to help dissuade US companies...
Last US Business News: Audi CEO detained in diesel emissions case. NY Post 24 - US News
Audi CEO detained in diesel emissions case.
BERLIN — German authorities on Monday detained the chief executive of Volkswagen’s Audi division, Rupert Stadler, as...
Last US Business News: Bill Gross got revenge on ex-wife with fart spray: court papers. NY Post 24 - US News
Bill Gross got revenge on ex-wife with fart spray: court papers.
The bitter divorce battle between billionaire bond king Bill Gross and his ex-wife is beginning to stink — like vomit,...
Last US Business News: These French bosses may be the world’s worst. NY Post 24 - US News
These French bosses may be the world’s worst.
Talk about your bad bosses. The former head of France Telecom and six of his executives must stand trial over their alleged...
Last US Business News: Subway hires Bain to help with sales slump. NY Post 24 - US News
Subway hires Bain to help with sales slump.
Subway, the struggling family-owned sandwich chain, has hired consultant Bain & Company to professionalize operations...
Last US Business News: An absurd suggestion on how to fund Trump’s border wall. NY Post 24 - US News
An absurd suggestion on how to fund Trump’s border wall.
Dear John: If we are so concerned about China owning so much of our Treasury debt, why don’t we do this: Allow Americans...

Metro

Metro News: One of NYPD’s first black commanding officers dies. NY Post 24 - US News
One of NYPD’s first black commanding officers dies.
One of the NYPD’s first black commanding officers has died and will be laid to rest Tuesday in The Bronx. Albert Dandridge,...
Metro News: NYPD commissioner joins push to add cameras near schools. NY Post 24 - US News
NYPD commissioner joins push to add cameras near schools.
NYPD Commissioner James O’Neill joined local politicians and school officials Monday to demand that Albany push through...
Metro News: ‘Grid Kid’ murder suspect’s lawyers claim prosecutors framed him. NY Post 24 - US News
‘Grid Kid’ murder suspect’s lawyers claim prosecutors framed him.
Attorneys for a Brooklyn man facing retrial for the 15-year-old murder of a college football player say they’ve unearthed...
Metro News: Quincy Enunwa, Dan Churchill to attend Muscular Dystrophy Association gala. NY Post 24 - US News
Quincy Enunwa, Dan Churchill to attend Muscular Dystrophy Association gala.
Jets wide receiver Quincy Enunwa and celebrity chef Dan Churchill will be on hand at a Muscular Dystrophy Association fundraising...
Metro News: Cyclist dies after fall from bike bath on Manhattan Bridge. NY Post 24 - US News
Cyclist dies after fall from bike bath on Manhattan Bridge.
A cyclist died when he fell and hit his head on a support beam on the Manhattan Bridge, police said Monday. Phillip Ginsberg,...
Metro News: NY’s top health official wants to legalize marijuana. NY Post 24 - US News
NY’s top health official wants to legalize marijuana.
Another barrier to legal pot just went up in smoke. The state’s top health official said Monday that he’s going...
Metro News: NYPD presidential boat dedicated to slain cops. NY Post 24 - US News
NYPD presidential boat dedicated to slain cops.
A new NYPD boat — which will be used to ferry America’s president through the city’s waterways as needed...
Metro News: Ex-SUNY Polytechnic president rigged bids to keep Cuomo happy: prosecutors. NY Post 24 - US News
Ex-SUNY Polytechnic president rigged bids to keep Cuomo happy: prosecutors.
A prominent Albany scientist who once headed a state college rigged bids for hundreds of millions of dollars in New York...

Sport

Last US Sport News: Clyde Frazier touts Porzingis, makes Knicks draft request. NY Post 24 - US News
Clyde Frazier touts Porzingis, makes Knicks draft request.
Walt Frazier joined forces with probable No. 1 Deandre Ayton Monday at a pop-up shop across the street from Barclays Center...
Last US Sport News: FIFA investigates Mexican fans after homophobic slurs. NY Post 24 - US News
FIFA investigates Mexican fans after homophobic slurs.
ST. PETERSBURG, Russia — FIFA has opened disciplinary proceedings against Mexico after its fans used an anti-gay slur during...
Last US Sport News: There are ‘problems’ between two of the Timberwolves’ stars. NY Post 24 - US News
There are ‘problems’ between two of the Timberwolves’ stars.
Despite posting 47 wins this season and reaching the postseason for the first time since 2004, it appears there is tension...
Last US Sport News: Capitals’ Stanley Cup coach resigns in intriguing move for Isles. NY Post 24 - US News
Capitals’ Stanley Cup coach resigns in intriguing move for Isles.
Lou Lamoriello said earlier this month he would get “the best coach available.” Barry Trotz is available. After...
Last US Sport News: Yankes turn back to Clint Frazier at expense of fan favorite. NY Post 24 - US News
Yankes turn back to Clint Frazier at expense of fan favorite.
This Clint Frazier call-up will last longer than the last one. The Yankees brought the young outfielder back to the majors...