Federal Reserve Chairwoman Janet Yellen heads to Capitol Hill this week for two days of so-called Humphrey-Hawkins testimony, named for the 1978 law that required it.
Yellen is testifying Tuesday to the Senate Banking Committee and will do so Wednesday to the House Finances Services Committee. The financials sector has rallied more than 20% since the November election, and 4.2% this month alone. On Tuesday, Yellen sounded more like she did in 2015, when the Fed wanted to be proactive to avoid getting too far behind the curve. J.P. Morgan Chase & Co (JPM) led gainers with a 1.6% rise. While I'm not reading too much into Yellen's move to keep the upcoming March meeting "live", it might jolt Dollars bulls out of their recent hiatus.
"So all this talk of a three interest rate or four interest rate hike, in my opinion, is baloney". Nor did she give indications whether the first rate hike of the year might come at its next meeting in March or at the June meeting, which is when most analysts expect a rate increase. (In December, the Fed forecast that it would raise rates three times in 2017.) But lawmakers are sure to press her also to spell out how the Fed might react to the ambitious economic program President Trump is preparing to unveil in the coming weeks.
16 and 17-year-olds Able to Join Organ Donation Registry
While Tuesday is Valentine's Day, it's also National Donor Day - a time to focus on organ donations and registrations. Cuomo says if a registered minor dies before turning 18, their parents or legal guardians can rescind the decision.
The head of the USA central bank says the economy is improving enough to consider raising interest rates during the next few months.
"There was a little shift that there could be one in March", Kepner said.
Asked specifically how she felt about the proposed border tax, she said, "I'm not going to tell you that, either". Also notable was Yellen's decision to back away from the "room to run" message she stressed at times past year, despite the modest increase in the unemployment rate. And that has caused the dollar to jump, oil and gold to rise, and Treasury yields to surge. More stocks fell than rose on the New York Stock Exchange.
Victor Cruz released by New York Giants
He wasn't the explosive player he had been, and instead of being the star he was the third option in the passing attack. Cruz, 30, had a stellar start with the Giants after he was an undrafted free agent out of University of MA .
On Friday Europe's Stoxx 600 Index finished the day with a 0.2 percent gain from the previous close. Goldman hasn't closed at an all-time high since 2007. Lacker, who is not a voting member of the Federal Open Market Committee, said current unemployment and inflation levels call for tighter monetary policy. Buyers instead are focusing on a narrowing group of rising stocks.
Foreign investors were expected to be net sellers, offloading 75.5 billion Korean won (S$91 million) worth of Kospi shares near mid-session, weighing on the index. The Dollar Index (DXY) which had been under pressure following the sudden resignation of the United States national security adviser Mike Flynn, is now up 0.35%. The dollar pivoted higher as Yellen began to speak in front of the Senate, and gained against the British pound (http://www.marketwatch.com/story/why-the-pound-plunged-the-most-in-12-days-after-uk-inflation-miss-2017-02-14) after United Kingdom inflation data didn't rise by as much as expected.
Dakota Access OK Came as Tribe Chief Flew to Meet Trump Team
Trump won't build the pipeline "without a fight", Tom Goldtooth, director of the network, said in a statement Tuesday. There are a number of misconceptions and myths about the Dakota Access Pipeline Project.