BBCI: Janet Yellen defends US regulations

EUR  USD Sentiment

"The next crisis is coming, and we need these stronger rules to stay in place", Harm Bandholz, chief US Economist at UniCredit Bank AG in New York, wrote in a note to clients.

The world's most powerful central banker has warned against watering down regulations put in place following the financial crisis. The hotel offers only poor comforts; there are no facilities like a spa, gym or hairdresser. The gains come on the back of persistence weakness in the greenback with the DXY trading just above the yearly lows into the close of the week.

It could be Yellen's final appearance at Jackson Hole as the Fed chair because her term expires in February 2018. She has acted "free of dogma" in her "collaborative" approach to consensus on bank rescues, inflation-fighting, and other tough decisions - the opposite, Conti-Brown says, of a cartoonish, power-crazed, secretive central banker. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET. Some would argue that this understates the power of the position.

Janet Yellen stepped up the Federal Reserve's defence of regulatory reforms pushed through after the great financial crisis, in the face of claims from some Republican politicians that the regime is stifling the economy. Let us not forget that the market expects for hourly wages growth to slow down from 0.3% to 0.2%.

But in a speech to an annual conference of central bankers in Jackson Hole, she implicitly rejected efforts by Republicans, including President Donald Trump, to scrap the 2010 Dodd-Frank law as a threat to the economy.

But the Fed isn't buying what Trump is selling - at least, not yet.

In addition, governments and companies have accumulated vast debts - at low interest rates. "I think she's done a good job", Trump told the Wall Street Journal.

Discuss and ask questions in our community on Workplace. The unexpected surged in exports is particularly surprising as the Kiwie has been appreciating substantially since the beginning of the year and reached 0.7558 at the end of July, its highest level against the greenback since May 2015.

It has knocked out a quarter of oil production from the Gulf of Mexico, prompting fears it could overturn years of excess U.S. oil capacity and low prices.

The ECB is expected to discuss the issue at its meetings this fall. That amounts to millionaires receiving an average tax cut of more than $217,000 in 2018, about 7 percent of their income.

Fed policymakers' views on monetary policy keep changing with changes in US labor market data.

On its main business of stabilizing the economy, "any credible Fed chair candidate would not meaningfully alter the market outlook or our baseline focus for GDP growth, interest rates or the dollar", Quinlan writes. These assets comprise 36 percent of the combined gross domestic product of these countries, triple the share in 2007.

She said the Fed is open to modifying current regulations, especially to ease restrictions on smaller banks that didn't contribute to the 2008 crisis.

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