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      Fitch Downgrades China to 'A'; Outlook Stable
      Submitted Apr 3, 2025      |From fitchratings.com

      Fitch Ratings has downgraded China's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'A' from 'A+'. The Outlook is Stable. A full list of rating actions is at the end of this rating action commentary. Key Rating Drivers Ratings Downgrade: ...

      Cook: The Economic Outlook and Path of Policy
      Submitted Apr 3, 2025      |From federalreserve.gov

      Thank you, Dr. Ripoll. It is wonderful to be here at the University of Pittsburgh. I am honored to deliver the 2025 McKay Lecture in memory of Dr. Marion McKay, who led the economics department here for more than 30 years. I am especially humbled to have this opportunity, given the many significant contributors to the field of economics who have spoken in this series, including David Autor, Claudia Goldin, Bob Lucas, and Joe Stiglitz. I have been looking forward to this lecture for many months, because researching, discussing, and teaching economics have long been my favorite activities. I have been a professor for much longer than I have been a member of the Federal Reserve's Board of Governors, which I joined three years ago. Today, I would like to discuss my outlook for the economy and my views on the path of monetary policy. For this speech, I will also offer recent historical context about how the economy arrived in its current position, take some time to review some concepts in economics, and, finally, discuss my approach to monetary policy at a time of increasing uncertainty. Over the past few years, the U.S. economy has grown at a strong pace, supported by resilient consumer spending. Currently, I see the economy as being in a solid position, though American households, businesses, and investors are reporting heightened levels of uncertainty about both the direction of government policy and the economy. For instance, the Beige Book, a Fed report that compiles anecdotal information on economic conditions gathered from around the country, had 45 mentions of "uncertainty." That is the largest number of mentions of the word in the history of the Beige Book, up from 12 mentions a year ago. Consistent with elevated uncertainty, there are increasing signs that consumer spending and business investment are slowing. Inflation has come down considerably from its peak in 2022 but remains somewhat above the Federal Reserve's 2 percent target. The labor market appears to have stabilized, and there is a rough balance between available workers and the demand for labor. The unemployment rate remains low by historical standards. Fed’s Cook: it's appropriate to maintain current policy for now while watching data. Fed’s Cook: Uncertainty related to tariffs could cause the economy to weaken.

      Oil Prices Crash 7% on Trump Tariffs, OPEC Ramp-Up
      Submitted Apr 3, 2025      |From oilprice.com

      The price of WTI crude oil dropped more than 7% on Thursday as President Donald Trump’s Liberation Day tariffs blitzed markets and OPEC+ threw an unexpected production curveball. At 10:38 a.m. in New York, Brent crude was trading at $70.21—a 6.32% ...

      Single Candlestick Patterns
      Submitted Apr 3, 2025      |From litefinance.org|2 comments

      A single candlestick pattern is a technical analysis tool in financial markets that can be used to predict price movements. A single candlestick pattern appears when a particular candlestick exhibits a specific price movement, reflecting the market ...

      Fed's Jefferson: There is still substantial uncertainty around trade
      Submitted Apr 3, 2025      |From @PiQSuite

      FED'S JEFFERSON: STILL SUBSTANTIAL UNCERTAINTY AROUND TRADE UNCERTAINTY CAN WEIGH ON SPENDING, INVESTMENT DECISIONS WILL BE IMPORTANT TO TAKE OUR TIME AND THINK ABOUT IMPACT WHEN ASSESSING POLICY CHANGES, I TRY TO FOCUS ON COLLECTIVE POLICIES, INCLUDING FISCAL, IMMIGRATION… Fed's Jefferson: QT can continue in background in an orderly way.

      USD Tanks on Tariffs - EUR/USD, GBP/USD, USD/JPY
      Submitted Apr 3, 2025      |From forex.com

      The U.S. Dollar is down by more than 2% today which marks the largest single-day decline since November of 2022, shortly after the currency had topped following the Fed’s rate hikes earlier that year. EUR/USD and GBP/USD breakouts have run ...

      Jefferson: U.S. Economic Outlook and Central Bank Communications
      Submitted Apr 3, 2025      |From federalreserve.gov

      Thank you, Dr. Tkac, for your kind words and for the opportunity to talk to this group. It is always wonderful to be back in Georgia and here at the Federal Reserve Bank of Atlanta. And it is an honor to speak at a conference co-organized by the University of Virginia, where I received my Ph.D. You have heard already today about financial markets and the banking system. To add to that picture, I would like to share with you my outlook for the U.S. economy and my views of appropriate monetary policy. But before that, I want to touch on the importance of central bank communications, and particularly the evolution of Fed communications. The Value of Communications One of the reasons I so appreciate the opportunity to speak at events like this is because speeches are an important part of how the Federal Reserve delivers on its mission to the American people. Like my colleagues on the Federal Open Market Committee (FOMC), I enjoy engaging regularly with people from around the country to hear about on-the-ground economic conditions and to learn specifics about industries and communities. Such engagement is also a pathway to delivering better policy. It is important that households, businesses, and financial markets understand policymakers' views and assessments of economic conditions. Fed's Jefferson: There is no need to be in a hurry on policy rate adjustments. Fed's Jefferson: We could retain current policy restraint for longer, or ease policy, depending on inflation progress and the job market.

      Canada to match US tariffs on passenger vehicles
      Submitted Apr 3, 2025      |From @DeItaone|7 comments

      *CANADA TO MATCH US TARIFFS ON PASSENGER VEHICLES *CANADA TO MATCH US TARIFFS ON PASSENGER VEHICLES *CANADA TO ADD 25% TARIFF ON AUTOS THAT DON'T COMPLY WITH USMCA *CANADA ADDS 25% TARIFF ON NON-CANADIAN CONTENT OF USMCA AUTOS Via Bloomberg CANADA PM CARNEY: TRUMP'S TARIFF POLICY WILL 'RUPTURE' GLOBAL ECONOMY CANADA PM CARNEY: ERA OF INTEGRATION WITH U.S. ECONOMY IS 'OVER' CARNEY SAYS WE WILL FIGHT THESE TARIFFS UNTIL THEY ARE REMOVED