On the economic calendar today, the most prominent headline was Janet Yellen, FED Governor speech, entitled "Inflation, Uncertainty and Monetary Policy", warning FOMC from moving too gradually and confirmed that the Fed able to meet the inflation target of 2%, and not considering changes in the target, noting that it is the uncertainty that strengthens the policy of gradually rate hike, which she supports despite the weakness of inflation.
The remarks by Janet Yellen, Federal Reserve Governor, were as follows:
The weekend saw flaming events as elections were held in New Zealand and Germany, New Zealand's ruling National Party has won the largest number of votes, reaching 46%, while the opposition Labor Party has won 35.8%. The next few days will witness talks in order to form a coalition, to form the new government pending the announcement of the results officially on October 7.
The Senate Banking Committee voted today with 17 votes to 6 to introduce candidate Randal Quarles to the FOMC. Earlier in the day, WSJ reported that Trump was unlikely to nominate Gary Cohn as chairman of the Federal Reserve Bank as an alternative to Janet Yellen, whose term expires next February.
Stanley Fischer, the vice chair of the Federal Reserve Bank, has resigned a year before his term ends due to personal reasons in an official letter to US President Donald Trump that he will step down in October.
Comments from the Bank of Tokyo - Mitsubishi after the end of the Jackson Hole Conference as follows:
• Statements by Janet Yellen, the Federal Reserve Governor and almost free to talk about monetary policy through Jackson hole are not unexpected.
By Reuters : Asian shares gained on Wednesday after Wall Street managed to weather a fresh twist in the controversy over U.S. President Donald Trump's alleged connection with Russia, while investors looked ahead to Federal Reserve Chair Janet Yellen's comments.
By CNBC : The Federal Reserve has locked itself into a strategy to raise rates one more time this year despite whoever is leading the central bank, a global economist at UBS Wealth Management said.
With the start of the second half of 2017, several important economic data will be released this week and are likely to have a significant impact on market movements.
By Reuters Japanese stocks edged towards two-year highs on Tuesday as exporters benefited from dollar strength, with investors expecting comments from Federal Reserve Chair Janet Yellen to support the Fed's projection for one more interest rate rise this year.
Prices may be delayed by 5 seconds. Prices above are subject to our website terms and conditions. Prices are indicative only
© 2023 Equiti, All Rights Reserved