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Fed's Powell commits to 'act as appropriate' to defend U.S. economy
CHICAGO (Reuters) - U.S. Federal Reserve Chairman Jerome Powell said on Tuesday the central bank will “act as appropriate” in response to risks posed by a trade war, remarks that may open the door to the possibility of a rate cut.
“We do not know how or when these issues will be resolved,” Powell said. “We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2% objective.”
The brief statement opened a two-day session at the Chicago Federal Reserve intended to shore up the central bank’s policies to prepare for the likely possibility that policymakers will eventually confront another recession with rates near zero and the traditional option of cutting rates exhausted.
The more immediate issue is how the Fed should respond to a trade war expanding on multiple fronts, after U.S. President Donald Trump slapped new 25% tariffs on $200 billion of Chinese imports and threatened new import taxes on Mexico unless immigration slows. The question of how to respond divides policymakers and markets.
Powell’s remarks did not include a reference to the current Fed target interest rate as appropriate, or repeat the pledge to be “patient” before raising or lowering rates again - both standard talking points in recent Fed statements. His comments come a day after St. Louis Federal Reserve President James Bullard said in a speech on Monday that a rate cut may be needed “soon.”
Yields on 2-year Treasuries, which are responsive to expectations about Fed policy, fell marginally when Powell spoke to around 1.87% from 1.91%.
“We are likely seeing the beginning of coordinated Fed-speak to prep market participants for at least one rate cut this year,” said John Doyle, vice president of dealing and trading at Tempus Inc in Washington.
nope-try two and it could be one as early as the next meeting-odds say no however it only took one weekend for the system to adjust to one coming in september, that was monday morning.
June 18-19-Meeting associated with a Summary of Economic Projections.
this is a moar detailed look at the bullshit they spew-mostly an exercise in verbal diarrhea they do it 4x a year.
Short-term interest rate futures imply the central bank will start cutting rates as soon as next month, as well as increasing fear that uncertainty about how the trade conflict will be resolved could push the United States and other economies into recession.
Fed policymakers face conflicting signals. Government data shows that the U.S. economy has grown this year but markets point to significant risk of deterioration going forward.
Asked on Tuesday to interpret market expectations of rate cuts, Chicago Federal Reserve President Charles Evans told CNBC, “at face value it suggests that the market sees something that I haven’t yet seen in the national data.”
He said he sees rates as having been appropriate but that uncertainty and tepid inflation presented risks worth monitoring. Over the long run, he said, policymakers may want to be more aggressive, using low rates to let inflation and economic momentum build.
https://www.reuters.com/article/us-usa-fed-powell/feds-powell-commits-to-act-as-appropriate-to-defend-u-s-economy-idUSKCN1T5166
Inovio Pharma CEO sells $4.81m in shares-June 3
Inovio Pharmaceuticals, Inc. (Inovio) is a clinical-stage pharmaceutical company, which is involved in developing deoxyribonucleic acid (DNA) immuno-therapies and vaccines focused on treating and preventing cancers and infectious diseases. The Company's DNA-based immuno-therapies, in combination with its electroporation delivery devices, generates immune responses, in particular T cells, in the body to fight target diseases. It has completed, current or planned clinical programs of its SynCon immunotherapies for human papillomavirus (HPV)-caused pre-cancers and cancers, influenza, prostate cancer, breast/lung/pancreatic cancer, hepatitis C virus (HCV), hepatitis B virus (HBV), human immunodeficiency virus (HIV), Ebola, Middle East Respiratory Syndrome (MERS) and Zika virus. With its immunotherapy platform, as well as with its CELLECTRA electroporation delivery technology, it has a pipeline of pre-clinical and clinical stage products that have generated in vivo immune responses.
Number of employees : 278 people.
https://www.marketscreener.com/INOVIO-PHARMACEUTICALS-IN-17937428/company/
https://www.secform4.com/insider-trading/1055726.htm
>Corrupt POS!
Ross Stores Exec. Chairman sold $7.5m in shares May 31
Ross Stores is America's No. 2 distributor of major brand clothing and accessories at discount prices. Net sales break down by family of products as follows:
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clothing for women (27%);
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household goods (26%);
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clothing for men (13%);
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accessories (13%): jewels, lingerie, perfumes and cosmetics;
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shoes (13%);
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clothing for children (8%).
As of 03/02/2018, the group had a network of 6 distribution centers and 1,622 outlets broken down by name into Ross Dress For Less (1,409) and dd's DISCOUNTS (213).
All sales are in the United States.
Number of employees : 82 700 people.
https://www.marketscreener.com/ROSS-STORES-4927/company/
https://www.secform4.com/insider-trading/745732.htm
we're doing this again now?
You only pick and choose with these. If you are going to do it at least be consistent.
You've missed several hundred by now.
yes. I have the updated logo but was trying to keep it copacetic with the time-frame referenced.
It's pretty much common knowledge at this point as several discussions had by many. Get you want accuracy and all that but you see why I have to report them this way right?
Source is a public site etc
and then G4S as another one.
Got it..sorry we got off on the wrong foot in jan.
Want it done as much as you do.
Fuck'em I say, they deserve it.
have had this recurring dream, moar like fantasy that all those big players are lined up: Fink, Schwarzmen, Griffin etc as well as several others and I just walk up to them and say "we beat you".
Then turn around and walk away.
> I hope we get to meet and shake hands!
look forward to it!
Was young when that went down but old enough to get it. The local, at time, paper was mercury news so I got the exposure to the Gary Webb stuff too.