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Powell Hammers Home Dovish Message in ‘Clean Break’ With Old Fed By Bloomberg

(Bloomberg) -- Federal Reserve Chair Jerome Powell repeatedly stressed on Wednesday that the central bank won’t raise interest rates until the U.S. economy shows tangible evidence it has fully healed from Covid-19. In doing so, he discarded a cardinal tenant of monetary policy to pre-emptively strike against inflation. It’s a significant shift that follows the Fed’s new framework announced last year that markets...

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Fed’s Powell: U.S.-driven global recovery could help lift laggards like Europe By Reuters

By Dan Burns and Leika Kihara (Reuters) - The U.S. economy appears set to leave other developed markets in the dust this year with the largest annual growth spurt in decades, new Federal Reserve forecasts indicate, but that divergence is not worrying to the central bank's top official. If anything, Fed Chair Jerome Powell sees a greater likelihood the strong U.S. rebound...

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Dollar wobbles after Fed pushes back against rate hike speculation By Reuters

By Hideyuki Sano TOKYO (Reuters) - The U.S. dollar was on the defensive on Thursday after the Federal Reserve signalled it was in no hurry to raise interest rates through all of 2023 even as it saw a V-shaped recovery in the world's largest economy. Investors dumped the dollar and rushed to more risk-sensitive currencies as Fed Chairman Jerome Powell, true to...

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U.S. investigating suspected Autopilot Tesla crash into police vehicle By Reuters

By David Shepardson WASHINGTON (Reuters) - The U.S. auto safety agency said on Wednesday it will send a team to investigate a crash involving a Tesla suspected of being in Autopilot mode when it struck a parked Michigan State Police patrol car. The National Highway Traffic Safety Administration (NHTSA) said it was sending the Special Crash Investigation (SCI) team in line with...

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Japanese firms want BOJ to keep bond yields, ETF purchases steady – Reuters poll By Reuters

By Tetsushi Kajimoto TOKYO (Reuters) - Two thirds of Japanese firms expect the Bank of Japan to curb rises in long-term interest rates and keep them steady, a Reuters poll found, ahead of the central bank's review this week on how it will make its stimulus policy more sustainable. Bond yields have risen around the world on investor bets that central banks...

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FTSE 100 closes lower, crude oil weak after inventory data, GBP steady By Investing.com

Key Points FTSE 100 closing price of 6,764.88, down 0.6%. Telecoms names higher after spectrum auction Rolls-Royce (LON:RR) rally continues WTI crude oil and Brent both weaker after weekly inventory data GBP and US Dollar steady ahead of Federal Reserve, BoE meetings By Samuel Indyk Investing.com – The FTSE 100 closed lower in cautious trade ahead of the Federal Reserve meeting...

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Lennar Shares Zoom Higher on $4 Billion Venture to Buy Homes to Rent By Investing.com

By Dhirendra Tripathi Investing.com – Lennar (NYSE:LEN) zoomed to a record after saying it would set up a $4 billion venture to buy single-family homes to rent. The business will initially be capitalized with a total equity commitment of $1.25 billion led by Centerbridge alongside Allianz (DE:ALVG) Real Estate and other institutional investors, the homebuilder said in a filing....

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