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Fed Raises Interest Rates for Sixth Time Since Financial Crisis

Jerome H. Powell

The Federal Reserve raised interest rates on Wednesday by a quarter of a percentage point and signaled that the central bank is on track to raise rates twice more in 2018.

■ The Fed said it would raise its benchmark interest rate to a range of 1.5 percent to 1.75 percent, marking the sixth time since the financial crisis that it has raised rates.

■ The Fed said at the conclusion of a two-day policy meeting that the economy continues to strengthen and that it expects to increase rates another two times this year as it pursues a return to more normal interest rate levels. Officials also increased their expectations for economic growth this year in the United States, declaring that “the economic outlook has strengthened in recent months.” They said they expect to raise interest rates three times next year, an increase from the two increases in 2019 that they forecast in December.


Ignoring GOP Pleas, Trump Sets Tariffs In Motion

Trump sets tariffPresident Donald Trump on Thursday set in motion tariffs that will slap fees on many imports of steel and aluminum, moving ahead with a major part of his “America first” philosophy above the loud objections of Republican lawmakers.

“People are starting to realize how important it is,” Trump said just before signing in the Roosevelt Room. He said a “strong steel and aluminum industry” is “absolutely vital” for national security, predicting his action will trigger the re-opening of American production facilities.

The president said he was fulfilling a campaign promise and predicted his action will create steel and aluminum sector jobs inside the United States.


Trump aides defend tariffs move as Europe and China decry 'trade war'

Trump aides defend tariffs as Ueope and China decry 'trade war'

White House officials fanned out on Sunday to support Donald Trump’s planned imposition of tariffs on aluminium and steel imports, describing it as a national security issue.

Amid international consternation, and with British prime minister Theresa May expressing “deep concern”, critics said the move was a needless provocation of allies and enemies alike.


27 Trump says he will impose tariffs on steel and aluminum imports 'next week'

Trump to impose steel and aluminum tariffsPresident Trump said Thursday he will soon place tariffs on steel and aluminum imports —  a move that could trigger retaliation from trade partners who may target American products.

"We'll be signing it next week," Trump said after discussing tariffs with a group of steel and aluminum executives, calling it the first "protection" they have had "in a while."

While arguing that the United States has been treated "horribly treated by other countries," Trump also told the executives that "you'll have to regrow your industries, that's all I'm asking."


Dow Jones plunges 1,000 points as inflation fears spook investors

Stock Market plunges more than 1000 points

Wall Street was on Thursday heading for its toughest week in more than two years after fears of higher interest rates led to a fresh plunge in New York stocks.

Another day of wild swings in the financial markets saw more than 1,000 points wiped off the Dow Jones industrial average – a loss for the day of over 4%. It was the third drop of more than 500 points for the Dow in the last five days and the Dow is now down 10% from its peak on 26 January, a fall known as a “correction”.


U.S. Stocks Plummet, Erasing Gains for the Year

US stocks plummetU.S. stocks plunged, sending the Dow Jones Industrial Average down almost 1,600 points, as major averages erased gains for the year. Treasuries rallied and gold rose on haven demand.

Equity selling accelerated shortly after 3 p.m. in New York, with the Dow sinking more than 800 points in a matter of 10 minutes only to snap back 10 minutes later. The index remained lower by 4 percent, or 1,000 points -- its steepest drop since Aug. 24, 2015. The S&P 500 Index traced a similar trajectory, though its decline stood at 3 percent. Both are now lower for the year. The Cboe Volatility Index more than doubled to its highest level in 2 1/2 years.

TVNL Comment:  This was the biggest single day loss ever.  Trump took credit for the rise, so let's all thank him for the loss.  Or, we can wait for him to blame Hillary....



Dow plummets 665 points, capping worst week in 2 years

Stock Market

U.S. stocks fell sharply on Friday after a stronger-than-expected jobs report sent interest rates higher.

The Dow Jones industrial average dropped 665.75 points to close at 25,520.96, capping off the index's sixth-largest points decline ever. The 30-stock index also fell below 26,000. Friday also marked the first time since June 2016 that the Dow fell at least 500 points.


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