The Federal Reserve says the US economy's doing well - possibly even well enough to raise interest rates in December. Markets and economic policymakers have been on edge for months waiting for a definitive statement from the Fed.
Federal Reserve Chair Janet Yellen has told the US Congress that interest rates will not have to rise much further. Politicians are concerned that three rate rises have taken place amid an uneven economic recovery.
Federal Reserve Vice Chairman Stanley Fischer will resign in mid-October — months before his term was due to expire, and giving the Trump administration scope to start reshaping the leadership of the US central bank.
The European Central Bank (ECB) knows it can’t change its loose monetary policy too rapidly, lest it shock markets and banks. But change will have to come soon, maybe as soon as Thursday when governors meet again.
The world’s most powerful central bankers are gathering in the US to exchange views over the myriad of problems and uncertainties they confront. But they will do their utmost not to send any clear signal to the markets.
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