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  • 2015-08-28 14:08


    By Nick Olivari

    WASHINGTON (MNI) - Moody's Investors Service revised its forecast for GDP growth in the G20 economies to 2.8% for 2016 from the prior estimate of 3.1% mainly on the back of a slowdown in China and lower commodity prices.

    In the ratings agency's report entitled "Downward Revisions to 2016 Global Economic Outlook," the GDP growth forecast for China was cut to 6.3% from 6.5% in 2016.

    Recently published economic indicators show China's slowdown in exports and investment has continued into the third quarter of 2015, Moody's said.

  • 2015-08-28 13:12


    --Hill GOP Leaders Signal Interest In Fiscal Deal W/Dems
    --But GOP's Rank-and-File Seem Skeptical of Compromise
    --Congress Confronts Stop-Gap, Debt Hike, Highway Funding

    WASHINGTON (MNI) - As lawmakers try to enjoy the final days of their August recess, several thorny fiscal issues have moved from the distant to the near horizon and will begin descending on Congress in a few weeks.

    Both House Speaker John Boehner and Senate Majority Leader Mitch McConnell have said they are determined to avoid a fiscal meltdown this fall.

    However, some rank-and-file Republicans seem less inclined to avoid a confrontation, arguing the GOP should use whatever leverage it has to advance its policy agenda.

  • 2015-08-28 12:25


    By Steven Arons

    FRANKFURT (MNI) - Swiss National Bank Chairman Thomas Jordan said Friday that the SNB's goal of ensuring medium-term price stability was not in doubt despite an annual inflation rate that has been negative since last November.

    In prepared remarks for the annual central bankers' gathering in Jackson Hole, Jordan said that medium-term inflation expectations remained above zero, not least thanks to the SNB's unconventional monetary policies.

    "Medium-term inflation expectations remain anchored in positive territory and monetary policy is able to ensure medium-term price stability," Jordan said. "So far unconventional monetary policy measures have prevented adverse spill-over effects from becoming persistent."

    "There are no signs that the Swiss CPI is t

  • 2015-08-28 12:14


    --Fischer Says Effect of China Slowdown on US Economy 'Reasonably Small'

    JACKSON HOLE, Wyo. (MNI) - U.S.

  • 2015-08-28 11:02


    --'Think It Will Be a Good Day When We Make This First Move'
    --'We're Talking About a Minuscule Move'

    WASHINGTON (MNI) - St. Louis Federal Reserve Bank President James Bullard Friday, in an interview on Bloomberg Television, generally dismissed the effect on the liftoff timeline of the intense market volatility, questioning why the strategy of a gradual normalization should be changed in view of what he sees as solid and improving U.S. fundamentals.

    Bullard, at Jackson Hole, Wyoming, for the annual Kansas City Fed retreat, will be a Federal Open Market Committee voter next year.

    "I'm not denying it is a volatile period," he said. "But let me say this," he continued. "U.S. fundamentals look good. Labor markets look good. We've got strong reports on the economy.

  • 2015-08-28 11:00


    --Research Finds US Mon Pol Spills Over; Impact from Others More Muted
    --Moderate Dollar Appreciations Unlikely to Cause Major US Disinflation
    --More Imports Priced in Foreign Currency, Greater Sensitivity to FX Shocks

    JACKSON HOLE, Wyo. (MNI) - U.S. inflation is less impacted by exchange rate shocks than other countries, research released Friday showed, and thus spillovers from other countries monetary policies onto U.S. inflation are more muted.

    U.S. inflation is "more insulated from exchange rate shocks, while other countries are highly sensitive to it," wrote Gita Gopinath, economics professor at Harvard University and a research associate with the National Bureau of Economic Research.

    Plus, "U.S.

  • 2015-08-28 10:26


    JACKSON HOLE, Wyo. (MNI) - Cleveland Federal Reserve Bank President Loretta Mester said Friday she is "reasonably confident" inflation will move back towards the Fed's 2% inflation target, but she has pushed back the timeline as to when it reaches it.

    "I am reasonably confident we'll get back to 2%," Mester said in an interview with Bloomberg TV on the sidelines of the Kansas City Federal Reserve Bank's annual symposium.

    The policymaking Federal Open Market Committee has outlined two criteria for raising interest rates off the zero lower bound where they have been since late 2008.

  • 2015-08-28 10:16


    By Angelika Papamiltiadou

    ATHENS (MNI) - Greece's interim Finance Minister George Houliarakis said Friday that his prime aim in the next four weeks will be "not to waste valuable time" and to continue with the recapitalization of Greece's banking system.

  • 2015-08-28 10:00


    --Research Paper Makes Case for Dovish Policy
    --Real US GDP 2.5% Below Potential in 1Q15, While Core PPI Up 2% Annually

    JACKSON HOLE, Wyo.

  • 2015-08-28 09:45


    Repeats Story Initially Transmitted at 17:30 GMT Aug 21/13:30 EST Aug 21

    --Shopping Center Managers: Back-to-School Season Sturdy
    --Mall Restaurants Show Good Growth
    --Low Summer Gasoline Prices Supportive
    --Value Shopping Still Prevalent

    NEW YORK (MNI) - Back-to-school shoppers have been digging a little deeper into their wallets this season, heading to the mall for shoes, apparel and electronics, and taking in a meal while there, according to mall managers around the country.

    Shopping center managers tell MNI that gasoline price savings are bolstering consumer psychology and store receipts, though at a modest clip. Guests are staying longer and visiting a wider variety of stores. More guests are dining at mall restaurants.