Global stocks top 2016 gains, dollar up before Fed minutes

The minutes of the Fed's latest policy meeting, which were released on Wednesday night, showed that many of its policymakers are in favour of raising rates again "fairly soon" provided data on jobs and inflation data come in line with expectations.

The minutes showed that a couple of Fed officials suggested the central bank might need to alter the wording of its policy statement because now the Fed's assurances that it planned to raise rates at a "gradual" pace could be "misunderstood as a commitment of only one or two rate hikes per year".

The minutes also show that Fed officials were concerned that the lack of detail on Trump's planned policy changes cast a huge pall of uncertainty over their own economic forecasts.

USA central bankers left the target range for their benchmark lending rate unchanged at 0.5 percent to 0.75 percent at the conclusion of the meeting.

The Federal Reserve's decision was unanimous, with all 10 current members of the deciding committee voting to keep interest rates unchanged at 0.5 percent to 0.75 percent, following the central bank's decision to lift interest rates at its previous two-day policy meeting in December. Well, the hawkish tone was not surprising, given the recent hawkish comments stemming from the Fed officials, but the yellow metal's resilience this week was impressive.

Microsoft announces Skype Lite and Linkdin Lite with Aadhar integration
According to Microsoft, the home page of the lighter version of LinkedIn only consumes 150KB, and other pages weigh about 70KB. It also gives candidates an option to create a LinkedIn profile, if they don't already have one.

Force India aim to break into constructors' top three with 2017 auto
He added: "I read an article this morning that Cyril of Renault said poor teams like Force India will suffer in this arm's race". People think we carried on development a year ago to get fourth place, but that's not true - we stopped in May.

Lakers name Magic Johnson president of operations, fire GM Mitch Kupchak
Furthermore, Jim Buss will no longer hold his role as Lakers Executive Vice President of Basketball Operations . Jeanie Buss and Johnson had dinner before the Lakers hosted the Denver Nuggets on January 17 at Staples Center.

Put another way, if there's no possibility of the Fed taking away the proverbial punch bowl while the party is still jumping, financial markets could get bubbly, particularly with stock markets already hitting daily record highs. Sentiment indicators are also up on the expectation that President Donald Trump will boost growth through fiscal measures and deregulation.

The minutes also suggest the FOMC may have to change "its communications regarding the anticipated path for the policy rate if economic conditions evolved differently than the Committee expected or if the economic outlook change".

"Members agreed that there was heightened uncertainty about the effects of possible changes in fiscal and other government policies, but that near-term risks to the economic outlook appeared roughly balanced", said the minutes. Before the release of the minutes, fed fund futures reckoned the chances of a hike were just 22% in March, 41% in May and 46% in June.

A low-rate world is "likely to be very persistent", as an aging population and lagging productivity hold down growth, he said.

Officials said a hike would likely arrive "fairly soon" to combat any risk of over-heating the economy.

Related news