U.S. Treasury Secretary Mnuchin Comments From Investment Summit
MarketPulse | Jun 20, 2017 08:57AM ET
U.S Treasury Secretary Mnuchin comments from investment summit:
- Working to remove trade barriers between US and China –
- ‘Right Thing’ for Fed to Reduce Balance Sheet
- Fed’s Crisis-Era Balance-Sheet Expansion ‘Has to Be Reversed’
- Treasury Has Enough Cash to Meet Obligations ‘Through September’
- Confident Congress Will Raise Debt Ceiling Before Critical Point
- Future Debt Ceiling Increases Should Be Tied to Spending Authorization
- Strong Dollar is Vote of Confidence in Economy, Trump Administration
- No Decision Yet on Next Fed Chairman, Including Whether Yellen Will be replaced
- Not Concerned About Lower U.S. Tax Receipts
Fed’s Rosengren (moderate, non-voter) comments from Amsterdam:
- Low rate environment likely to persist into the future; likely to make fighting recessions tougher
- Makes No Comment on Economic Outlook
Federal Reserve Bank of Chicago President Charles Evans suggested in a Monday evening speech at New York University that there might just be two rate hikes this year — no additional — and expressed some concern about inflation running below the Fed’s target.
Bank of England (BoE) Governor Carney’s speech at Mansion House London:
- Not Yet Time to Raise Interest Rates
- Sees Weak Wage Growth Delaying Rate Rises
- Also Wants to See Economy’s Response to Brexit Talks
- Cites ‘Anemic’ Wage Growth as One Reason to Wait
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