Senators grill Janet Yellen on Republican plans to neuter Dodd-Frank Act
She still expected USA and global monetary policy to remain accommodative and that the economic outlook is uncertain. She declined to make any comment on specific tax and sending policies, but reiterated the importance of improving the longer-term pace of economic growth through stronger productivity growth.
The Fed chair gave an upbeat assessment of the United States economy and signaled the central bank could raise short-term interest rates at its next policy meeting in March. There is talk of waiting too long on the interest rate hikes but there is really no mention of how the Fed will handle its $4 trillion or so balance sheet.
Yellen said delaying rate increases could leave the Fed's policymaking committee behind the curve and eventually lead it to hike rates quickly, which she said could cause a recession.
Asked during Tuesday's U.S. Senate hearing if there's any truth to claims that banks aren't lending, Yellen said an "extremely low number" of small businesses complained of access to credit as their main problem. Also notable was Yellen's decision to back away from the "room to run" message she stressed at times previous year, despite the modest increase in the unemployment rate.
More interest-rate hikes may be on the way if inflation keeps rising and labor markets continue to tighten.
Melissa McCarthy Returns to SNL as Sean "Spicey" Spicer
The eight-minute sketch once again depicted Spicer's combative tone with the press. But of course with Donald Trump, we do know. Yeah, I said that wrong when I said it.
7 killed in gunfight between Indian army and militants in Kashmir
The four terrorists who were killed by security forces in the Kulgam district of Jammu and Kashmir on Sunday were local residents. The killing of the civilians conjured a mixed response with the separatist leaders calling for a valley-wide strike.
Should Arsenal forward Alexis Sanchez's opener been ruled out for handball?
Arsenal were awarded a penalty in the dying minutes of the game after a handball from Sam Cluclas that prevented an Arsenal goal. DF Kieran Gibbs, 6 - Afforded a run-out ahead of Nacho Monreal, Gibbs was given a tricky afternoon's work by Markovic.
The central bank in December projected three rate hikes this year. In December, the Fed raised interest rates for the second time in almost a decade, to its current range of between 0.5 percent and 0.75 percent. That's about double the average growth rate of C&I loans since the FDIC first began collecting the data back in the mid-1980s.
Although Trump criticized the Fed during the campaign for keeping rates near zero, allegedly to help then-president Barack Obama, he is unlikely to look favorably on higher rates that would crimp economic growth and investment.
US equities overall are melting higher again on Tuesday, but not all stocks in the market are participating. The total personal consumption expenditures index gains of 1.6% in the 12 months ending in December was still below Federal Open Market Committee's (FOMC's) 2% objective, but it was up a percentage point from its pace in 2015. Yellen has been a staunch defender of the law.
Although, Yellen did caution if wage developments had much "direct effect" on inflation, and further noted that food/energy prices have been very volatile.
Sen. Warren also prompted Yellen to comment on an assertion by top Trump economic advisor Gary Cohn, and former Goldman Sachs top banker, that banks, as a result of Dodd-Frank, have been forced to hold larger reserves that can not be leant to borrowers. With a Republican in the White House, those efforts now stand a greater chance of success. With Governor Tarullo, a notable dove, departing the board, we might see Washington increasingly eager for a hand in the impending Fed merry-go-round and policies taking a cautious turn as a result.
Al Sharpton Will Picket Madison Square Garden Unless Charles Oakley Ban Lifted
According to Ian Begley of ESPN New York , Oakley told ESPN's Dan Le Batard that he also wants ownership to apologize to the fans. Dolan accused Oakley of having anger management issues and strongly suggested that Oakley is an alcoholic. "Both Mr.
Latest update to Google Maps lets users save destinations in shareable lists
This way, you can distinguish between the places that you've visited and the places that you would like to see some day. Google Maps users can add a place to a list by tapping their chosen venue and hitting the Save option.
DC anti-abortion activists protest Planned Parenthood
The center's website says it's a Christ-centered ministry serving women and men facing an unplanned pregnancy. President Donald Trump was also a target.
Prince's 2017 GRAMMYs Tribute Was Glorious
Prince was found unresponsive in an elevator of his Chanhassen, Minnesota home, and was later pronounced dead at the age of 57. Bruno Mars Instagram photo shows the white colored Cloud Guitar stacked up against a background of Mars concert equipment.
Leicester boss Ranieri holds crisis talks with Mahrez and Vardy
He told Press Association Sport: "I know he is a very capable coach, a very good person and he will produce and give the best. Leicester have reached the last 16 of the Champions League and play Sevilla later this month.
Hogg: "Our errors cost us" - France 22-16 Scotland | Six Nations
For a team that had won just two of its previous 12 Championship encounters, that would represent some remarkable progress. French kicker Camille Lopez scored 17 points with the boot while Finn Russell managed only two penalties on his register.
Betsy DeVos blocked by protesters from entering DC public school: 'Shame! Shame!'
The mayor of Washington , Muriel Bowser, tweeted: "We welcome Betsy DeVos and anyone who wants to learn more about our schools". According to several sources, teachers at the school were upset by her visit and planned to wear black to show their feelings.
Former Dolphins player Quentin Moses dies in house fire
Andria Godard , 31, and her young daughter, Jasmine Godard , 10, were also tragically found dead on the scene. Former Georgia football player, Quentin Omario Moses passed away while he was being taken to the hospital.
Derek Brunson is taking Anderson Silva deadly serious ahead of their match
And if one of us has to defend the title against Cris Cyborg, it will be Cris Cyborg who we defend the title against. There's so many girls that want the opportunity, I can guarantee you they can build this division in no time .
Real Madrid star in line for return
The Irish Times report that the Real Madrid star is on course to return from injury to line up at the Aviva Stadium in March. This couldn't come at a better time since the addition of the UCL and the global breaks will continue to force rotations.