Not all Fed policymakers are on board for a rate hike soon, traders currently put chances of a Dec rate hike at about 42%
Fed policymakers have yet to decide when to raise rates again after lifting them in December for the first time in nearly a decade
Two Federal Reserve officials argued the case for another interest-rate increase in interviews on the eve of an eagerly awaited speech by Chair Janet Yellen in Jackson Hole, Wyoming, that will be scoured for hints of a move that could come as soon as September.Federal Reserve Bank of Kansas City President Esther George, speaking in a Bloomberg Television interview broadcast on Thursday, repeated her case that higher rates were warranted with the US nearing full employment and inflation rising toward the central bank's target.Dallas Fed chief Robert Kaplan separately told CNBC television that "the case is strengthening" for another increase. Yellen speaks at 8 am local time Friday at the Kansas City Fed's annual mountain retreat in Wyoming, which is 10 am in New York.
Janet Yellen, US Federal Reserve Chair, said she believes that diversity is extremely important in all parts of the Federal Reserve
Global bond yields fell with Europe's benchmark, 10-year German yields, down 3 basis points at minus 0.08 per cent
Minutes detailed policy makers' differing views of the economic outlook as they decided to leave a key interest rate untouched at 0.25-0.5%
Members were generally upbeat about US economic outlook, but some felt more data was needed before rising rates, while a few felt policy needs to be tightened soon
Federal Reserve officials were divided in July over the urgency to raise interest rates again, with some preferring to wait because inflation remained benign and others wanting to go soon as the labor market nears full employment."Several suggested that the committee would likely have ample time to react if inflation rose more quickly than they currently anticipated, and they preferred to defer another increase in the federal funds rate until they were more confident that inflation was moving closer to 2 per cent on a sustained basis," according to the minutes of the central bank's July 26-27 policy meeting released in Washington on Wednesday."Some other participants viewed recent economic developments as indicating that labor market conditions were at or close to those consistent with maximum employment and expected that the recent progress in reaching the committee's inflation objective would continue, even with further steps to gradually remove monetary policy accommodation," the mi
On Thursday, Macy's said it would close an additional 100 stores as it tries to turn around its business after six quarters of falling sales
Lowers economic growth forecasts for 2016; expects US job market to strengthen after a recent slowdown
It remains far from certain, however, that the Fed will move at its meeting on June 14 and 15
A run of Chinese data is expected to show activity moderated in April after a strong showing in March
The data suggest that the economy will probably not rebound strongly in the second quarter after growth slowed to a crawl in the first three months of the year
There will be a lot of volatility and there may be sharp reversal in direction as well
Participants expressed a view that the global economic and financial situation still posed appreciable downside risks
The currency fell last week when Fed policymakers revised down the interest rates.
Trend to continue in near term on dollar's weakness
Eight of the 10 major S&P sectors closed higher
US crude gained 53 cents to $36.87 a barrel, while Brent rose 39 cents to $39.13
June seems certainly like a possibility for the Fed's next rate hike, said former Minneapolis Fed President