Mark. It did not manage to close above that yesterday after fed chair powells testimony. We will get more of that today, and the cpi data. The twoyear yield has been bouncing around, up 1. 85 today. Stories, bathher and beyond down 4. 7 . We will see what kind of halo effect that has down 7. 47 . We will say what kind of halo effect that has. Not many analysts were looking for a great quarter from their. 60bove 60 of arable a barrel for wti on the news, including another attack. In europe, we have a green screen, but nothing huge to write home about. Of stoxx 600 up about 1 4 1 . Really taking its lead from the United States. Kidney companies as well holding those industries higher. Coming up, we have fed chair powells testimony, but first we want to get to Michael Mckee in idaho. We have a very special interview. That is all coming up next, so you dont want to miss all of that. This is bloomberg. Michael good morning to everybody on Bloomberg Television and radio worldwide. Im Michael
A global bond rally after the central bank moved. Crude oil 5. 6 higher after President Trump tweeted that iran made a big mistake. 57 dollars a share. Oil companies and Gold Companies pushing stocks higher. Gold futures trading close on 13. 90. We have oracle being one of the bigger performers. Course, we are waiting for slack to start trading on the nyse. 33 to 36 looks like the spread right now. The dollar firmly on offer weakening against every single g10 currency. Trading is down quite sharply. Out itsaking alltime high. Fx ratecohead of strategists is joining us in london. Good afternoon. Is the dollar going down more sustainably . It depends on what dollar. Probably the dollar gets a little against emerging markets with hi carrie, but against the euro, if that is what you mean, it will be harder. The onlyhe fed is not factor. Other Central Banks are becoming more dovish. The ecb as well. The level of Global Growth is not a set up that allows the dollar to weaken aggressively. We
On employment rate remains low at 3. 7 percent. As of june according to the bureau of labor statistics. We just had continued rising as well. With average Hourly Earnings 3. 1 higher in june compared to a year earlier. It is the 11th straight month in which wage growth exceeded 3 . In fact the u. S. Is officially in its longest suspension of Economic Growth since 1854. In order to continue this positive economic trajectory they must continually evaluate their regulatory and super very activity. To ensure broad access to a wide variety of Financial Products and services. With respect to regulation and supervision it has been over a year since the enactment of s2155. The Economic Growth wreck regulatory relief. As you move forward in finalizing certain rules required under s2155 and consider proposing new ones consider you to consider the following. Simplify capital rules for smaller Financial Institutions. While ensuring the maintain significant capital. Simplifying the vocal rule which
Overarching goal, to sustain expansion for the benefit of the american people. At the fomc meeting that included today, we maintained our policy Interest Rate but made significant changes to our statement. Since the beginning of the year, we have judged our policy stance was probably appropriate and we should be patient in assessing the need for changes. In light of increased uncertainties and muted inflation pressures, we emphasize the committee will monitor the implications of incoming information for the Economic Outlook and will act as appropriate to sustain the expansion with a strong labor market and inflation near its 2 objective. Step back andke a review how the changing economic and financial picture brings us to todays decision. So far this year, the economy has performed reasonably well with solid fundamentals supporting continued growth and strong employment. Runningn has been somewhat below our objective that we have expected it to pick up supported by solid growth and a s
Given uncertainties and muted inflation pressures, we will closely monitor incoming information for the Economic Outlook and will act as appropriate to sustain the expansion with a strong labor market and inflation near its 2 objective. I would like to take a step back and review how the changing economic and financial picture brings us to todays decision. So far this year, the economy has performed reasonably well with solid fundamentals supporting continued growth and strong employment. Inflation has been running somewhat below our objective but we expect it to pick up, supported by solid growth and a strong job market. Along with this stable picture, this favorable picture we , have been mindful of some ongoing crosscurrents, including trade development and concerns about Global Growth. At the time of our last fomc meeting, which ended on may 1, there was tentative evidence that these cross currents were moderating. The latest data was encouraging from china and europe. And there we