Fed rate hike, rate cut both 'on the table': Bostic

Fed prods Americans to purchase more on credit

As if to accentuate the impression that he values political loyalty and ideology over all other qualities, Mr. Trump on Friday announced his intention to nominate tax-cut promoter Stephen Moore, formerly of the Trump campaign, Republican congressional staff, the Club for Growth and the Wall Street Journal editorial page - and now of the Heritage Foundation - to one of two vacancies on the Fed's seven-member Board of Governors.

The president was harshly critical of the Fed's rate hikes last year and has continued to criticize actions by Fed Chairman Jerome Powell even after the central bank this week announced it expected no rate hikes this year.

Given his sharply partisan reputation, Moore could spark opposition among Democrats in the Senate.

"We have tremendous potential as a country", Trump said.

Cain defended higher interest rates in December 2017, a position that differs from the president's stance a year ago, the Bloomberg reported. He nominated four of the current five members.

As a Fed governor, a position that requires Senate confirmation, Moore would be in a position to espouse his and the White Houses view that the economy can grow much faster without generating inflation.

After the Wednesday announcement, financial markets, which had already priced out any chance of a rate hike this year, began pricing in the likelihood of a rate cut next year.

"I'm not sure about that", said Moore, asked whether the Fed should cut rates.

Time for USA to recognize Israel's sovereignty over Golan Heights
Trump's decision has been building up for several weeks now, a senior administration official tells CNN. Pompeo's words gave a public boost to the Israeli leader at the height of a tight re-election campaign.

When the dot plot shifts, it can send a powerful message to investors on whether the US central bank expects to speed up or slow down its planned tightening of monetary policy.

At the end of a two-day policy meeting, the Federal Open markets Committee (FOMC) said the move was meant to meet market expectations and reflected the central bank's patient approach regarding monetary policy changes.

But he added, "over time obviously we want to reduce that balance sheet and not have these massive amounts of debt".

Trump had actually won broad support for his first Fed picks, including Powell, with economists on the left and right seeing them as mainstream choices who could maintain the Fed's independence from political concerns, and extend a consensus shaped under previous Fed chair Janet Yellen.

As a TV commentator, Moore has been an anti-tax conservative and fiscal hawk.

The Wall Street Journal, citing a senior administration official, reported earlier that Trump had made an offer to Moore this week after speaking with him to compliment him on an opinion article he co-authored in the Journal. In the article Moore argued that the Fed's rate hikes promoted deflation and described the central bank as the "last major obstacle" to the United States staying on a good path.

The Fed expects 2.1 percent growth this year compared to the 2.3 percent that was forecast in December.

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