There's a New Bullard Rule That Finds No Need to Raise Rates

Treasury Secretary Steve Mnuchin right says the president respects the central bank's independence

JACQUELYN MARTIN APTreasury Secretary Steve Mnuchin right says the president respects the central bank's independence

Trump has previously called Fed policies "crazy".

Policy makers at the Federal Reserve remain focused on gradually raising interest rates in response to strength in the US economy and low unemployment, according to minutes of their September meeting released Wednesday. The Fed has raised rates three times this year and has penciled in a fourth hike, which is expected in December.

The Fed minutes did not include any discussion of Trump's attacks.

"My biggest threat is the Fed", Trump said Tuesday.

As well as making life more hard for U.S. exporters, a stronger greenback also raises the borrowing costs of many heavily-indebted emerging market economies, such as those in Latin America which have high levels of dollar-denominated borrowing.

What happens if you win Mega Millions’ $900M jackpot?
Tuesday's Mega Millions winning numbers were 3, 45, 49, 61, 69 with a Mega Ball of 9 for a jackpot worth $667 million at the time. Mega Millions tickets cost $2 per play and there are a total of nine ways to win a prize, ranging from the jackpot down to $2.

This would move United States interest rates slightly above what policymakers say is "neutral" - that is, neither slowing nor speeding the economy - but some participants said the Fed would need to go even further than that.

In minutes from last month's central bank rate-setting meeting, which unanimously agreed a third rise of the year, policymakers said further rate hikes "would most likely be consistent" with current economic indicators.

The U.S. economy has been growing more quickly this year than many economists believe is possible without generating higher inflation, with the jobless rate at its lowest level in decades.

That's according to the minutes of the latest Fed meeting, in which every policymaker backed a move to raise interest rates in September.

In the minutes it says "a couple" of policymakers stated that they would not be in favour of adopting a restrictive policy stance without "clear signs of an overheating economy".

Amazon Debuts a New Waterproof Kindle Paperwhite
The new feature can be used to create reading profiles that have user-specified fonts, boldness levels and orientation settings. You can now also listen to Audible audiobooks over Bluetooth headphones or speakers right from your Kindle Paperwhite .

The Fed also took notice of clouds forming on the horizon.

Some investors say that, after years of easy money, pockets of risk have built up throughout the global economy as borrowing costs begin to increase - raising the chances that a bubble could burst or banks could see significant defaults on debt.

Fed members said Trump's trade wars both created uncertainty and could boost inflation.

Higher rates can impact consumers by increasing borrowing costs, which have already ticked higher.

USA stock prices recovered some earlier losses but were still down for the day following the minutes.

President Trump presents Medal of Honor at the White House
But his fellow Marines in Alpha Company led an effort to have his actions reviewed to see if they merited the Medal of Honor . Trump said the military awards are one of his "favorite" jobs as president. "There are very, very few people like you, John".

Latest News