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  • 2016-08-27 19:39


    JACKSON HOLE, Wyo.

  • 2016-08-27 11:00


    By Karen Mracek

    JACKSON HOLE, Wyo. (MNI) - A former Federal Reserve governor and two of his Harvard colleagues suggest in a new paper Saturday the U.S.

  • 2016-08-26 16:52


    By Yali N'Diaye

    OTTAWA (MNI) - Dragged down by a poor export performance and weaker oil sands production due to the Alberta wildfire, Canada's GDP is seen contracting by 1.8% in the second quarter on an annualized basis.

    At best, analysts in a MNI survey expect the contraction to be limited to 1.4%, which would still be worse than the 1.0% decline expected by the Bank of Canada.

  • 2016-08-26 16:28


    By Yali N'Diaye

    OTTAWA (MNI) - Dragged down by a poor export performance and weaker oil sands production due to the Alberta wildfire, Canada's GDP is expected to contract by 1.8% in the second quarter on an annualized basis.

    At best, analysts in a MNI survey estimate that the decline could be limited to 1.4%, which would still be worse than the 1.0% fall expected by the Bank of Canada.

  • 2016-08-26 15:21


    By Karen Mracek

    JACKSON HOLE, WYO. (MNI) - Federal Reserve Governor Jerome Powell added his voice to the chorus of Fed officials weighing in on the timing of the next rate hike on Friday, but he sounded more dovish than some of his colleagues.

    "We should be on a program of gradual rate increases," Powell said in an interview with Bloomberg TV on the sidelines of the Kansas City Fed's annual economic symposium. But the policymaking Federal Open Market Committee "can afford to be patient" when raising rates again with inflation low.

  • 2016-08-26 14:51


    By Karen Mracek

    JACKSON HOLE, WYO. (MNI) - While Federal Reserve Chair Janet Yellen didn't provide a clear signal to markets on Friday on when the next rate hike might happen, she did provide some new, sobering information on just how much they can depend the Fed's rate forecasts.

    Spoiler alert: Not much. While the median forecast for the fed funds rate in the fourth quarter of 2018 is 2.38%, her chart showed, the 70% confidence interval shows a range of 0.16%, essentially the zero lower bound, and 4.6%, which is 1.3 percentage points above the longer run estimate.

    Yellen, in her long-awaited Jackson Hole speech, showed for the first time the confidence intervals behind the Summary of Economic Projections, the so-called dot plot.

  • 2016-08-26 13:25


    --Lawmakers Mull Over Several FY 2017 Funding Options
    --Duration, Terms of Stop-Gap Still Uncertain

    WASHINGTON (MNI) - As the summer winds down, Labor Day nears, and Congress's return to Washington approaches, there are a number of scenarios swirling around Capitol Hill about how Congress and the White House will keep the government funded into the next fiscal year.

    While there are no shortage of creative ideas percolating among lawmakers and congressional staff, there is also no final decision about how to keep the government running after the 2017 fiscal year begins on October 1.

    So far, the House and Senate Appropriations committees have passed all 12 of their FY 2017 spending bills.

  • 2016-08-26 13:13


    --Adds Background in Last Three Paragraphs

    JACKSON HOLE, WYO.

  • 2016-08-26 13:04


    --Atlanta Fed's Lockhart: Can See Two 2016 Rate Hikes Possible

    JACKSON HOLE, WYO. (MNI) - Federal Reserve Vice Chair Stanley Fischer continued to sound Friday like he was ready for a rate hike sometime this year. And while he did not explicitly commit to an increase, he said Fed Chair Janet Yellen's remarks earlier in the day were consistent with more rate hikes in 2016.

    Fischer, who in an Aug. 21 speech said the Fed was getting close to its goals of maximum employment and price stability, repeated that view Friday, saying the U.S.

  • 2016-08-26 12:55


    By Karen Mracek

    JACKSON HOLE, WYO.