Federal Reserve policymakers are expected to again hold short-term borrowing costs steady when they next meet April 29-30. Here is a look at Fed officials' recent comments, sorting them under the labels "dove" and "hawk" as shorthand for their monetary policy leanings. A graphic is also available. The designations are based on public comments and published remarks.
Oil and the dollar rose on Tuesday and U.S. stocks fell, as investors baulked at signals from Washington and Tehran that peace talks have not yet been confirmed. In my column today, I look at why China's exchange rate may not be as chronically undervalued as many analysts say.
In testimony Tuesday at the Senate Banking Committee, Federal Reserve Chair nominee Kevin Warsh never said if he agrees with President Donald Trump's view that the Fed's policy rate is too high and should be cut.
In testimony Tuesday at the Senate Banking Committee, Federal Reserve Chair nominee Kevin Warsh never said if he agrees with President Donald Trump's view that the Fed's policy rate is too high and should be cut.
* US president extends ceasefire in Iran war. * Trump nominee Warsh calls for Fed "regime change" * US retail sales data breezes past analyst expectations. By Stephen Culp. Wall Street stocks followed their global counterparts to a lower close on Tuesday and crude prices extended their gains amid concerns over the latest developments involving the Iran war.
Federal Reserve Governor Christopher Waller on Tuesday said he would "absolutely" oppose any effort to try to fire Fed regional bank presidents over disagreements on interest rate policy. "That's not the design of the system. "So you would be against that?"
Kevin Warsh, tapped by President Donald Trump to lead the Federal Reserve, told a Senate panel on Tuesday he would work with the Treasury Department to help achieve his goal of a smaller Fed balance sheet, in an effort observers say would represent a long-term project for the central bank.
* Fed chair nominee Warsh wants Fed to hold fewer bonds. * Warsh reiterates smaller balance sheet means lower rates. * Analyst see any balance sheet evolution as long-term project.
* Iran undecided whether to hold talks with US. * Trump says does not want to extend ceasefire. * Retail sales beat forecasts, boost Treasury yields. * Fed Chair nominee Warsh seeks regime change at US central bank. By Gertrude Chavez-Dreyfuss.
* U.S. President Donald Trump says he does not want to extend Iran ceasefire. * Fed nominee Warsh calls for 'regime change' at Senate Banking Committee hearing. * US retail sales data breezes past analyst expectations. By Stephen Culp.
* Iran undecided on attending peace talks after US forces board oil tanker. * Fed chief nominee Kevin Warsh urges central bank overhaul in Senate testimony. * US retail sales jump as higher gasoline prices and tax refunds boost consumer spending. By Karen Brettell.
Federal Reserve Governor Christopher Waller on Tuesday laid out options for revamping the operational structure of the Fed system's 12 regional banks, calling for consolidation of key business functions like human resources, finance, procurement and technology rather than leaving them under the local direction of each bank.
Markets were lower on Tuesday as President Donald Trump's candidate for the next chair of the Federal Reserve, Kevin Warsh, appeared before the U.S. Senate for a confirmation hearing. Warsh's appearance was being watched by investors and analysts because he has publicly questioned the Fed's role in markets and has said he would seek to shrink the central bank's balance sheet.
Markets were lower Tuesday as President Donald Trump's candidate for the next chair of the Federal Reserve, Kevin Warsh, appeared before the U.S. Senate for a confirmation hearing.
* Retail sales increase 1.7% in March. * Reuters poll of economists expected 1.4% rise. * Record 15.5% jump in receipts at gasoline stations accounts for bulk of increase in sales. By Lucia Mutikani.
Federal Reserve chief nominee Kevin Warsh came under fire from Senate Democrats Tuesday over his plans to divest tens of millions of dollars in financial assets if confirmed to lead the U.S. central bank, amid questions about who would potentially buy those assets and the conflicts that could arise from those transactions.
* Warsh pledges to divest assets, says he's gone 'above and beyond' * Senator Warren questions transparency, enforceability of Warsh's divestment plan. * Senator Tillis defends Warsh but says confirmation delayed pending government probe of Powell. By Michael S. Derby.
Euro zone government bond yields edged higher on Tuesday as traders weighed the potential for U.S.-Iranian peace talks and comments from President Donald Trump's pick to lead the Federal Reserve, Kevin Warsh, at his Senate confirmation hearing.
* California's overall EV market shrinks, with zero-emission sales down 40% * Loss of federal tax credits and high costs erode consumer confidence, industry body says. * Tesla's Model Y and Model 3 remain top zero-emission sellers despite overall decline.
* Markets optimistic over possible Iran-US talks, but ceasefire remains fragile. * Fed nominee Warsh attends Senate Banking Committee hearing. * US retail sales data breezes past analyst expectations. By Stephen Culp. Wall Street stocks turned mostly lower, while global equities dipped as optimism over peace talks faded and the U.S.-Iran ceasefire expiration loomed.
Kevin Warsh, nominated by President Donald Trump to lead the U.S. Federal Reserve, on Tuesday said he would launch a review of the data the central bank uses for gauging inflation, saying the current measures employed by the Fed are flawed.
Auto parts distributor Genuine Parts (GPC) said on Tuesday that it expects near-term cost pressures from the ongoing Middle East conflict, but reiterated its annual adjusted profit forecast after reporting lower first-quarter profit.
Federal Reserve chief nominee Kevin Warsh said on Tuesday he had made no promises to President Donald Trump about cutting interest rates, as he tried to assure U.S. senators mulling his confirmation to lead the U.S. central bank that he would act independently of the White House while pursuing?broad reforms.
* Hearing points to major changes if Warsh confirmed as Fed chief. * Senator says confirmation process will be delayed until Powell probe dropped. * Warsh promises independence as Trump again says he expects interest rate cuts. By Howard Schneider.
U.S. President Donald Trump on Tuesday told CNBC that he would be disappointed if Kevin Warsh, his nominee for Fed chair, did not cut interest rates right away once he took office after being approved by the Senate. Trump also said "we have to find out" about the construction costs of the new Federal Reserve building.
U.S. President Donald Trump on Tuesday told CNBC that he would be disappointed if Kevin Warsh, his nominee for Fed chair, did not cut interest rates right away once he took office after being approved by the Senate. Trump also said "we have to find out" about the construction costs of the new Federal Reserve building.
U.S. retail sales increased more than expected in March as the war with Iran boosted gasoline prices and led to a record surge in receipts at service stations, while tax refunds underpinned spending elsewhere.
U.S. retail sales increased more than expected in March as the war with Iran boosted gasoline prices and receipts at service stations, while tax refunds supported spending elsewhere. Retail sales jumped 1.7% last month after an upwardly revised 0.7% gain in February, the Commerce Department's Census Bureau said on Tuesday.
Auto parts distributor Genuine Parts (GPC) on Tuesday reported a fall in first-quarter profit as higher expenses in the broader industry weighed on its margins despite steady demand. Rising labor costs, continued freight and logistics pressures, as well as increased prices of raw materials and energy have driven up expenses across the automotive parts industry.
U.S. Senate Banking Committee Chairman Tim Scott said on Tuesday he would be willing to set up a special committee to investigate Federal Reserve construction projects in an effort to "move on" and get Kevin Warsh in the central bank's top job. Scott spoke to CNBC before Warsh's Senate confirmation hearing.
The Bank of England will hold interest rates steady next week and likely through the rest of the year, according to a Reuters poll of economists, who broadly stuck to the same steady policy views as last month but revised up their inflation outlook.
Industrial giant 3M (MMM) posted a rise in first-quarter profit on Tuesday, as cost-control measures, price hikes and new product launches helped offset inflationary and tariff-linked pressures. The company's quarterly adjusted profit came in at $2.14 per share, compared with $1.88 per share a year ago.
Kevin Warsh would like to see the Federal Reserve slash its vast bond holdings, but has yet to flesh out just how he would do that if confirmed to be the next head of the U.S. central bank, a matter likely to come up in his confirmation hearing on Tuesday before the Senate Banking Committee.
Federal Reserve chief nominee Kevin Warsh said on Tuesday he had made no promises to President Donald Trump about cutting interest rates, as he tried to assure U.S. senators mulling his confirmation to lead the U.S. central bank that he would act independently of the White House while pursuing?broad reforms.
* Warsh's confirmation for top Fed job faces delay due to dispute over Powell criminal probe. * Senator Tillis vows to block confirmation until government drops investigation. * Warsh expected to outline what he would do differently as Fed chief. By Howard Schneider.
(Adds China's March refined copper output in paragraph 11; Copper dipped on Tuesday as investors weighed prospects for renewed peace talks between the United States and Iran, and awaited Federal Reserve Chair nominee Kevin Warsh's Senate confirmation hearing for cues on interest rates. Benchmark three-month copper on the London Metal Exchange eased 0.17% to $13,252.50 a metric ton by 0711 GMT.
Euro zone government bonds held steady on Tuesday as traders watched to see whether peace talks between the U.S. and Iran would take place, and awaited the Senate confirmation hearing for Kevin Warsh, President Trump's pick to lead the Federal Reserve. But there were few new developments to react to on Tuesday.
Japanese government bonds rose on Tuesday on growing bets that the Bank of Japan will not increase interest rates at its policy meeting next week to spend more time gauging the fallout from the Middle East conflict. The 10-year JGB yield fell 2 basis points to 2.375%. The two-year yield declined 1 bp to 1.345% and the five-year yield fell 1.5 bps to 1.8%. Yields move inversely to bond prices.
Japan will take necessary action as it closely monitors developments in crude oil prices and the global economy, Finance Minister Satsuki Katayama said on Tuesday, as concerns linger over the impact of Middle East tensions on energy markets.
* Dollar and yen face pressure as investors embrace risk. * Kiwi dollar rises following inflation reading. * Investors closely watch U.S.-Iran talks. By Jiaxing Li. The dollar and yen were under pressure on Tuesday, with investors poised to buy riskier currencies and hoping for a U.S.-Iran deal to reopen Gulf shipping, while a sticky inflation reading lifted the New Zealand dollar.
Mineral Resources Ltd (MALRF): * MIN PRICES US$1.3 BILLION SENIOR UNSECURED NOTES OFFERING. * NOTES OFFERING SETTLEMENT EXPECTED IN NEW YORK ON 29 APRIL 2026. * 2032 NOTES PAY 6.000% PER ANNUM, 2034 NOTES PAY 6.250% PER ANNUM. * PROCEEDS TO REFINANCE US$625 MILLION NOTES DUE 2027 AND REDEEM US$350 MILLION NOTES DUE 2028 Further company coverage:
Oil rose on Monday and the main U.S. equity indices fell as U.S.-Iran tensions re-escalated and the Strait of Hormuz was closed, although the fairly mild market moves suggest investors are hopeful negotiations will resume and yield positive results.
Democratic members of a Senate panel set to hold a confirmation hearing for Federal Reserve chair nominee Kevin Warsh on Tuesday are worried about the potential central bank leader's pledge to unload assets not allowed by current ethics rules.
* Senate Democrats question transparency of Warsh's asset divestiture plan. * Concerns raised over Warsh's ties to billionaire Stanley Druckenmiller. * Warsh updates divestiture plan after ethics office talks, faces tough confirmation path. By Michael S. Derby.
* Canadian dollar gains 0.4% against the greenback. * Touches its strongest since March 13 at 1.3636. * Price of oil settles 6.9% higher. * Annual inflation rate rises to 2.4% in March. By Fergal Smith.
* Treasuries volumes subdued, investors eschew large bets. * US rate futures price in 14 bps of cuts this year. * Focus on Kevin Warsh's Senate hearing for top Fed job. By Gertrude Chavez-Dreyfuss.
Wells Fargo CEO Charlie Scharf said on Monday that lowering interest rates now, before there is clarity about a potential end to the Iran conflict, would be "the wrong thing to do." "Until it's clear what the end is in sight, there's real risk out there," Scharf said, adding that there seems to be a consensus about waiting to see how the Iran conflict will play out.
Wells Fargo CEO Charlie Scharf said on Monday that lowering interest rates now before there is clarity about a potential end to the Iran conflict would be "the wrong thing to do." "Until it's clear what the end is in sight, there's real risk out there," Scharf said.
Kevin Warsh, U.S. President Donald Trump's nominee to lead the Federal Reserve, will tell lawmakers at his Senate confirmation hearing on Tuesday that he is "committed to ensuring that the conduct of monetary policy remains strictly independent," according to prepared remarks released on Monday.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Log In Required
Publication Date