The head of the U.S. central bank pointed to 'broad' global weakness that was clouding the U.S. economic outlook.
In his first day of testimony before Congress on Wednesday, the head of the U.S. central bank pointed to "" global weakness that was clouding the U.S. economic outlook. His comments bolstered the case for easier monetary policy in the world's largest economy.
In addition to Powell's relatively dovish testimony, the minutes from the Fed's previous policy showed many policymakers thought more policy stimulus would be required soon. Investors are also likely to monitor the latest weekly jobless claims, consumer price index figures and core CPI data for June at around 8:30 a.m. ET. Federal budget data is scheduled to be released slightly later in the session.
Meanwhile, the U.S. Treasury is set auction $35 billion in 4-week bills, $35 billion in 8-week bills and $16 billion in 29-year 10-month bonds on Thursday.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Treasury yields tick higher as investors await Powell's testimonyMarket focus is largely attuned to Federal Reserve Chairman Jerome Powell's testimony before the Congress on Wednesday and Thursday.
Read more »
European shares muted ahead of Fed chief Powell's testimonyEuropean shares were subdued on Wednesday ahead of U.S. Federal Reserve Chair Je...
Read more »
U.S. Fed policy-makers debate merit of a repo facilityFederal Reserve officials argued the pros and cons of a possible policy tool tha...
Read more »
US puts Hezbollah lawmakers on sanctions blacklist for first timeFor the first time the US Treasury has placed Hezbollah's elected lawmakers on its blacklist, which forbids US individuals and businesses – including leading international banks – from doing business with those sanctioned
Read more »
U.S. government to provide licenses for sales to Huawei if national security protectedThe U.S. Department of Commerce will issue licenses to U.S. companies seeking to...
Read more »