US Federal Reserve expected to raise interest rates Wednesday

May inflation rate of 2.9% highest for nearly four years

May inflation rate of 2.9% highest for nearly four years

USA stocks mostly fell while the dollar cut its losses on Wednesday after the Federal Reserve delivered a widely expected United States interest rate hike. We expect another rate hike and some balance sheet normalisation before the end of the year'.

The price of imported goods fell in May by the largest amount in 15 months in another sign US inflation has cooled off after a sharp runup a year ago. The yen climbed after the Washington Post reported that Special Counsel Robert Mueller is investigating whether U.S. President Donald Trump attempted to obstruct justice.

In a vote of confidence for the US economy, the US Federal Reserve has agreed to raise its key rate by 0.25 percent to a new target ranged between one and 1.25 percent.

Chief policymaker Mario Draghi stressed concern over weak inflation and, like the Fed, revised down the forecast.

It seems the Fed is no longer data dependent as before and wants to carry on with the normalization process despite weakness seen in some economic releases.

Notable Price Swings: Fairmount Santrol Holdings Inc. (FMSA) ,ServiceNow, Inc. (NOW)
October 11 investment analysts at Citigroup left the stock rating at "Buy" but moved up the price target from $9.50 to $12.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink .

The Fed provided no date for the start of the bond sales but said that if the economy fares as expected, "we could put this into effect relatively soon".

A Reuters poll of 21 of the 23 primary dealers that do business directly with the Fed showed 14 of them now believed it would announce the start of its balance sheet normalization at its September 19-20 policy meeting.

"The meeting was definitely tilted towards the hawkish side". Shares in Southeast Asia also were mostly lower. The pan-European STOXX 600 index dropped 0.5 percent, led lower by the basic resources and oil and gas sectors, as the stronger dollar weighed on metals prices.

True, the unemployment rate is nearing a 35-year low, usually a clear sign of economic strength. The Aussie edged up 0.1 percent to 75.92 US cents after gaining 0.6 percent.

KEEPING SCORE: Germany's DAX fell 0.6 percent to 12,727.14 while the CAC40 of France sank 0.8 percent to 5,202.60. Fed leaders suggested they still expect to raise rates again later in the year. "That is the main reason why the dollar is remaining supported for now", said Manuel Oliveri, currency strategist at Credit Agricole in London.

Weapons used in Republican baseball shooting appear legally bought
And the gunman was over by the third-base dugout with a clear view of the field and everybody on it. "This is not who we are". The gunman also had three domestic violence cases on his record - one involving the reckless discharge of a gun in 2006.

The dollar fetched 109.35 yen JPY= , not far from Wednesday's eight-week low of 108.81 yen.

In fact, despite all the hand-wringing about rising rates ever since the Fed embarked on the current tightening cycle in late 2015, it turns out that the 10-year yield is actually lower today than it was when the central bank made its first hike.

Euro zone government bond yields edged up in early trade. The Hang Seng in Hong Kong dropped 1.2 percent to 25,565.34, but Shanghai's Composite index rose 0.1 percent lower to 3,132.49.

The markets didn't exactly jump at the news either.

Crude oil prices were listless after having slumped almost 4 percent to their lowest close in seven months on Wednesday, on an unexpected large build in gasoline inventories.

North Korea claims American college student released from detainment for "humanitarian reasons"
How harsh is prison in North Korea? He was medically evacuated from the country and arrived in Cincinnati late Tuesday. Spokeswoman Heather Nauert (NOW'-ert) says the US hopes the other Americans will be able to return home soon.

Brent crude settled down 8 cents at $46.92 a barrel, while US crude settled down 27 cents at $44.46, after touching a six-month low of $44.32 a barrel.

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