Published: Thu, November 02, 2017
Economy | By Shawn Conner

Wall St keeps modest gains as Fed stands pat on rates

Wall St keeps modest gains as Fed stands pat on rates

That bullish assessment will reinforce expectations that the Fed - while it held interest rates steady this week, as expected - will nudge up its benchmark rate next month.

Investors had all but ruled out a move at the US central bank's policy meeting this week with attention focused on who will be in charge of monetary policy at the end of Fed Chair Janet Yellen's first term in February 2018.

Gross domestic product grew at a 3 percent annualized pace in the third quarter, near the previous period's rate, and the Atlanta Fed's tracking estimate Wednesday was at 4.5 percent expansion for the fourth quarter.

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Rohit said Nehra's spell of 6/23 against England in the 2003 World Cup was magical and one of the best he has seen. Experienced pacer Tim Southee , Trent Boult , Colin de Grandhomme will be the key in the shortest format.

The Fed has lifted its key interest rate twice this year, in March and June, and that so-called federal funds rate is in a range of 1% to 1.25%. Trump has complained that those rules have been too restrictive. The problem with too-low inflation is that it can slow the economy by causing consumers to delay purchases if they think they can buy a product or service for a lower price later.

Yet while the storms had boosted overall inflation during that month, at the "core" level prices had remained "soft".

"The comments on the economy were pretty good, talking about solid growth, strong labor market despite the hurricanes".

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Civilian courts have been far more effective and efficient in dealing with terrorism cases than the tribunals at Guantanamo. But now Trump has shifted his attention elsewhere - to an attack in NY involving a man who shouted "Allahu akbar".

Beyond monetary policy, everyone who cares about the Fed is waiting to find out President Trump's pick for Fed chair.

In its statement, the Fed noted that it's proceeding with a program to shrink its bond portfolio - a move that could mean higher long-term rates over time. Her term expires early next year and it's expected Trump will replace her.

The president is leaning toward picking Fed Governor Jerome Powell, according to three people familiar with the matter, though he has also been considering other candidates including Yellen, whom he called "excellent".

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Highway 400 will be closed northbound at County Road 88 and southbound at County Road 89 for an undetermined period of time.

Trump's impending announcement of his choice to lead the Fed is overshadowing this week's meeting of the central bank's policy group, composed of its board members and regional bank presidents.

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