Jerome Powell spoke at a conference last week in Washington, DC. The event was one week after the Fed increased the federal funds interest rate target by a quarter point to 2-2.25 percent at its monthly meeting. According to post-meeting notes, the Fed is likely to approve one more hike in 2018, probably in December. Interviewed during a panel session (with journalist Judy Woodruff of PBS) at the conference, the Fed chairman added some more context to the central bank’s perspective, citing the following:
“The really extremely accommodative low interest rates that we needed when the economy was quite weak, we don't need those anymore." “Interest rates are still accommodative, but we're gradually moving to a place where...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
