page contents
USA Real Estate Blog

US data lower rate cut expectations, regional Fed heads at odds over rates, storm slashes Gulf of…

0 1

Tropical storm expected to turn into a category-one hurricane, Barry, moves on in the Gulf of Mexico, causing drastic reductions in the US oil production in the region. Source: National Hurricane Center

US core consumer price index excluding food and energy rose by 0.3% last month, data on Thursday from the Department of Labor showed.

US inflation pick-up lowers Fed rate cut expectations

The increase was the biggest since the beginning of last year. The rise in inflation along with positive jobless claims remained steady at 209K has culled expectations of a 50 basis point rate cut in the Fed’s policy meeting later in July.

The US Dollar index began going down after Chairman Powell said the central banks was ready “to act as appropriate” in the face of challenges.

Atlanta and Minneapolis Fed heads go opposite on rates

Atlanta Federal Reserve President Raphael Bostic warned against a strong market anticipation of a rate cut, saying the rise in expectations could not be a reason for the central bank to make the move as the US economy remained well-performing.

Minneapolis Federal Reserve Bank President Neel Kashkari, meanwhile, reiterated support for a 50 basis point interest-rate cut to boost the inflation.

Iran-UK tanker tensions still high

Iran’s foreign ministry once again urged the UK on Friday to immediately release one of the country’s oil vessels that the British Marines seized last week near Gibraltar for allegedly violating European sanctions on Syria by carrying oil there. Iran was accused this week by the UK and the US of having tried to capture a British vessel this week near the Strait of Hormuz.

Barry slashes US oil output

In the Gulf Mexico, in the meantime, American oil firms have slashed output by more than 1 million barrels per day (bpd), which accounts for more than half of the regional production as Barry, a tropical storm set to turn into a category one hurricane, threatens the region.

Norway’s Foreign Ministry said that the peace talks between Venezuela’s Socialist President Nicolas Maduro’s government and the opposition led by the Speaker of the National Assembly Juan Guaido continued in Barbados.

Trump skeptical of cryptos

US President Donald Trump on Thursday attacked cryptocurrencies among them Bitcoin, Facebook’s planned Libra, demanding that they needed to be subject to US and international regulations.

قالب وردپرس

You might also like

Leave A Reply

Your email address will not be published.

Pin It on Pinterest

Share This

Share this post with your friends!