President of the Federal Reserve Bank of Richmond, Tom Barkin, said on Thursday that the new policy framework could help boost inflation expectations, noting that the risk of sudden rises in inflation in the future is low, Reuters reported. “While inflation has run below our 2 percent target, as I …

European stocks returned to losses on Thursday, closing lower for the day amid concerns about a second wave of COVID-19 infections. The STOXX Europe 600 index lost 1.05%, while the UK’s FTSE100 dropped by 1.30%. The French CAC40 index plunged by 0.89% and the German DAX index finished lower by …

Ireland’s Minister of Foreign Affairs and Trade, Simon Coveney, recently said that the United Kingdom (UK) is making negotiations for a new trade deal with the European Union (EU) more difficult by pushing for legislation that undermines international law. “There is a growing sense that perhaps the United Kingdom does …

New home sales in the United States increased by 4.8% to a seasonally adjusted annual rate of 1.011 million units in August, according to data released by the US Department of Commerce on Thursday. This is the highest level for new home sales since September 2006, according to Reuters. July’s …

Wall Street ended Wednesday’s trading in decline, after recent remarks by US Federal Reserve officials signaled maintaining interest rates near 0% for the coming three years, as well as concerns among the rising number of COVID-19 cases. The Dow Jones Industrial Average dropped by 1.92%, or 525.05 points, to close …

Treasury yields in the United States marginally increased on Wednesday following recent remarks by Federal Reserve officials. Yield on the 10-year Treasury bond levelled up by 1.3 basis points to 0.676%, while return on the 30-year bonds increased by the same amount to 1.426%. Meanwhile, return on the two-year notes …

Oil prices rose on Wednesday, after data showed a decline in US crude inventories. Brent crude futures for November delivery increased by 5 cents, or 0.1%, and settled at $41.77 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude for November delivery levelled up by 13 cents, or 0.3%, and …

Gold prices declined on Wednesday, losing the $1,900 per ounce level, as the US Dollar (USD) maintained its rising trend. Gold futures for December delivery decreased by $39.20, or 2.1%, to close at $1,868.40 per ounce, its lowest closing level since July 22. The Dollar index (DXY), which measures the …

The Vice Chairman of the United States Federal Reserve, Richard Clarida, said on Wednesday that the Fed will not raise rates until the 2% inflation target is achieved. “We’re not going to even begin to think about lifting off, we expect, until we actually get observed inflation, and we measure …

President of the Federal Reserve Bank of Cleveland, Loretta Mester said on Wednesday that the US economy is recovering better than expected. However, Mester warned that recovery is not sustainable yet and not including all sectors. “We are still in a deep hole, regardless of the comeback we have seen.”“We …