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1 Article
Source: Common Domain

The $1 tip is dead and how married couples should file their taxes

Today 06:04 GMT

Turn to an adviser for help with when to take Social Security, what’s the most efficient way to tap your retirement savings and how to pay for long-term care.

It was unusual in how the write-down of its Kraft natural cheese business, Oscar Mayer cold cuts business and Canada retail business was carried out. President Donald Trump on Friday said a deal with China on currency has been reached as he said he may meet his counterpart in Florida next month to try to wrap up talks.

1 Article
Source: Reuters

A Fed pivot, born of volatility, missteps, and new economic reality

Today 06:05 GMT

The January statement, JP Morgan analyst Michael Feroli wrote recently, showed the Fed “subtly but profoundly evolving” to a new view of the world where a variety of forces have changed the way inflation and interest rates work, and have now changed how the central bank responds.

Along with Powell’s public comments, Fed minutes, and other documents, the picture emerges of a central bank edging towards a period of potentially difficult change as it reviews how to do business in light of that new reality.

1 Article
Source: Reuters

Fed eyes end to balance sheet reductions later this year

Today 02:24 GMT

Despite apparently competing views on why they need a balance sheet permanently bigger than what they had envisioned only a few months ago, they also agree on a secondary aim: to make the Fed’s balance sheet boring again.

Federal Reserve policymakers are coalescing around a plan to stop trimming their $4 trillion balance sheet later this year, remarks from three U.S. central bankers showed on Friday.

1 Article
Source: Common Domain

Fed’s Clarida says central bank may adopt ‘makeup’ strategy after inflation undershoots

Friday 23:40 GMT

Richard Clarida, the vice chairman of the Fed and its highest-ranking economist, laid out the possible inflation strategy as he described the communications review the central bank is undertaking.

Speaking at a monetary policy conference sponsored by the University of Chicago Booth School of Business, Clarida contrasted what amounts to the current strategy — treating persistent shortfalls of inflation from the 2% target as “bygones” — to “makeup” strategies, where the Fed could target average inflation over a multiyear period or target price levels.

1 Article
Source: Common Domain

Gold sinks, set to snap 3-day string of gains

Friday 09:54 GMT

Gold futures were firmly lower Thursday, putting the precious metal on pace to end a stretch of gains at three straight as the market digested minutes from the Federal Reserve’s January policy meeting were read by metals buyers as more hawkish than anticipated.

In other metals trade, March palladium PAH9, -0.83%  fell $21.90, or 1.5%, to $1,440.20 an ounce, while April platinum PLJ9, -0.76%  declined $10, or 1.2%, to $824.20 an ounce.

1 Article
Source: Common Domain

U.S. government bond yields retreat after data deluge, with Philly Fed in focus

Friday 13:35 GMT

Treasury prices pulled back Thursday, pushing up yields on signs of progress on U.S.-China trade talks and investors sorted through a deluge of economic reports.

The Philadelphia Fed manufacturing index, known as the Philly Fed, dropped sharply to -4.1 from 17 in the prior month — the first negative reading since May 2016. Orders for durable goods rose 1.2% in December, according to a government report delayed for more than a month due to the recently ended partial government shutdown.

1 Article
Source: Common Domain

Schwab and E*Trade Suffer Downgrades as Bull Case Falters

Thursday 15:25 GMT

The bull case for discount brokers Charles Schwab (ticker: SCHW) and E*Trade Financial (ETFC) is looking a lot shakier, according to UBS .

The firm’s brokerage analyst, Brennan Hawken, downgraded both stocks on Wednesday, slapping Schwab with a Sell rating, down from Neutral, and E*Trade with a Neutral rating, down from Buy. The bull case for discount brokers Charles Schwab (ticker: SCHW) and E*Trade Financial (ETFC) is looking a lot shakier, according to UBS .

1 Article
Source: Common Domain

Fed divided over need for further interest-rate hikes, minutes show

Thursday 15:25 GMT

Federal Reserve officials broke into two camps about future interest-rate hikes at their January meeting, according to minutes of the two-day talks released Wednesday.

Fed officials said the U-turn on policy — in December, they had forecasted two rate hikes for 2019 — was needed because the economic outlook had become more uncertain since the start of the year, the minutes show. They noted that financial conditions had tightened since September despite some easing in the first few weeks of the year.


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