Author: FX

The Federal Reserve (Fed) kept its benchmark interest rate unchanged at 3.50% to 3.75% at its July meeting on Wednesday, in line with market expectations.Minutes from the meeting showed that economic activity has been expanding at a solid pace despite elevated uncertainty. The central bank also noted that job gains have “kept pace with the workforce.”The policy vote came at 9-3, with Cleveland, Minneapolis and Dallas Fed Presidents dissenting in favor of a 25-basis-point rate increase.Cryptocurrencies responded quickly to the decision, with major tokens briefly seeing gains following the announcement. Bitcoin (BTC) rose above $64,000 immediately but eased below a…

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WH Economic Advisor Hassett: Pres Trump has hard regard for Kevin Warsh. !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link

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The Dow Jones Industrial Average trades just above 51,800 on Wednesday afternoon, down roughly 900 points and 1.7% from Tuesday’s close. The session high just above 52,800 printed before 09:00 GMT, and the tape has sold in one near-continuous line ever since. The 52,000 handle reclaimed on Monday’s peace bid is gone.The war stops being somebody else’s tradeIran’s Islamic Revolutionary Guard Corps launched multiple ballistic missiles at US forces in the Middle East late Tuesday, and Central Command says every one was intercepted. Reporting puts the target at an American base in Jordan. Trump told a television interviewer on Wednesday…

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