Fed's Yellen sees stronger case for interest rate hike Aug 26, 2016 10:03AM

By Jason Lange and Ann Saphir

JACKSON HOLE, Wyo. (Reuters) - The Federal Reserve is getting closer to raising interest rates again, the head of the U.S. central bankand other policymakers said on Friday in comments that left the door open for a hike as early as next month.

Fed Chair Janet Yellen told a global monetary policy conference that the case for a rate increase had grown stronger, while Fed Vice Chair Stanley Fischer suggested a move... (continue reading...)


Janet Yellen Jackson Hole Speech; Rate Hike Case has Strengthened Aug 26, 2016 10:01AM

Below is Fed Chairman Janet Yellen's prepared speech at Jackson Hole - 'The Federal Reserve's Monetary Policy Toolkit'. She said the rate hike case has strengthened in recent months.

"... I believe the case for an increase in the federal funds rate has strengthened in recent months," she said.

The Federal Reserve's Monetary Policy Toolkit: Past, Present, and Future

The Global Financial Crisis and Great Recession posed daunting new challenges for central banks around the... (continue reading...)


Fed's Mester: Makes sense for U.S. to start raising rates - CNBC Aug 26, 2016 08:54AM

(Reuters) - The U.S. Federal Reserve should hike rates again so as not to fall behind in a strengthening economy, Cleveland Fed President Loretta Mester said on Friday.

"I see a gradual upward pace in interest rates as being appropriate," Mester said in a television interview with CNBC from Jackson Hole, Wyoming. "That doesn't mean we are behind the curve now but I do think that it makes sense to be starting to move interest rates up on that gradual... (continue reading...)


Dollar gives up gains, trades flat after Yellen's speech Aug 25, 2016 08:40PM

By Gertrude Chavez-Dreyfuss

NEW YORK (Reuters) - The dollar gave up earlier gains to trade little changed on Friday after Federal Reserve Chair Janet Yellen gave no indication a U.S. interest rate rise was imminent, even though she acknowledged the case for a hike has increased recently.

The U.S. currency rallied after Yellen's speech but soon fell as investors digested some of its dovish details.

At a gathering of central... (continue reading...)


S&P Downgrades Rio de Janeiro to 'CCC-'; Outlook is Negative (EWZ) Aug 25, 2016 08:05AM

RATING ACTION

On Aug. 24, 2016, S&P Global Ratings lowered its long-term issuer credit rating on the state of Rio de Janeiro (Rio) to 'CCC-' from 'B-'. At the same time, we lowered our national scale rating on the state to 'brCCC-' from 'brB-'. We also removed ratings from CreditWatch negative, where we placed them on May 30, 2016. The outlook is negative.

RATIONALE

The downgrade reflects the heightened risk of default given that we now detect more uncertainties over Rio's... (continue reading...)


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