U.S. Federal Reserve Chairman Jerome Powell said Wednesday that crosscurrents such as trade tensions and concerns about global growth have been weighing on the U.S. economic activity and outlook. U.S. Federal Reserve Chairman Jerome Powell prepares to testify before the House Financial Services Committee on the state of the U.S. economy on July 10 - Source: Xinhua In his prepared remarks to lawmakers at the House Committee on Financial Services, where he testified on the Semiannual Monetary Policy Report, Powell said many participants of the Fed's Federal Open Market Committee (FOMC) "saw that the case for a somewhat more accommodative monetary policy had strengthened." Powell said Fed officials were mindful of ongoing crosscurrents from global growth and trade at the May FOMC meeting, adding that since then "these crosscurrents have re-emerged, creating greater uncertainty." "Apparent progress on trade turned to greater uncertainty, and our contacts in business and … [Read more...] about Fed”s Powell says trade tensions weigh on U.S. economy
U s interest groups
Pompeo warns allies Huawei presence complicates partnership with U.S.The Saigon Times Daily U.S. Secretary of State Mike Pompeo speaks to the media at the United Nations following a Security Council meeting about the situation in Venezuela in the Manhattan borough of New York City, New York, U.S., January 26, 2019 – PHOTO: REUTERS BUDAPEST (REUTERS) - U.S. Secretary of State Mike Pompeo cautioned allies on Monday against deploying equipment from Chinese telecoms giant Huawei on their soil, saying it would make it more difficult for Washington to "partner alongside them". The United States and its Western allies believe Huawei Technologies' apparatus could be used for espionage, and see its expansion into central Europe as a way to gain a foothold in the EU market. Washington is concerned in particular about the expansion of Huawei, the world's biggest maker of telecoms equipment, in Hungary and Poland. "We want to make sure we identify (to) them the opportunities and … [Read more...] about Pompeo warns allies Huawei presence complicates partnership with U.S.
Trump official slams cartels as U.S. lawmakers push anti-OPEC bill The Saigon Times Daily The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at its headquarters in Vienna, Austria, December 5, 2018 – PHOTO: REUTERS WASHINGTON (REUTERS) - A senior administration official said on Friday that U.S. national security depends on affordable energy, and slammed cartels when asked if President Donald Trump would support a bill targeting the OPEC production group’s oil supply cuts. “The United States is firmly committed to open, fair and competitive markets for global energy trade,” said the official, who spoke on condition of anonymity. “We do not support market-distorting behaviour, including cartels.” The House of Representatives’ Judiciary Committee on Thursday unanimously passed the No Oil Producing and Exporting Cartels, or NOPEC, bill. House Majority Leader Steny Hoyer, who has supported NOPEC in the past, … [Read more...] about Trump official slams cartels as U.S. lawmakers push anti-OPEC bill
Maduro rival Guaido claims Venezuela presidency with U.S. backingThe Saigon Times Daily Juan Guaido, President of Venezuela's National Assembly, holds a copy of Venezuelan constitution during a rally against Venezuelan President Nicolas Maduro's government and to commemorate the 61st anniversary of the end of the dictatorship of Marcos Perez Jimenez in Caracas, Venezuela January 23, 2019 – PHOTO: REUTERS CARACAS (REUTERS) - Venezuelan opposition leader Juan Guaido declared himself interim president on Wednesday, winning the backing of Washington and many Latin American nations and prompting socialist Nicolas Maduro, who has led the oil-rich nation since 2013, to break relations with the United States. U.S. President Donald Trump formally recognised Guaido shortly after his announcement and praised his plan to hold elections. That was swiftly followed by similar statements from Canada and a slew of right-leaning Latin American governments, including Venezuela’s … [Read more...] about Maduro rival Guaido claims Venezuela presidency with U.S. backing
Malaysia warns of "domino effect" from U.S.-China trade tensions Malaysia's Prime Minister Mahathir Mohamad speaks after he was conferred an honorary Doctor of Laws degree at the National University of Singapore's Yong Siew Toh Conservatory of Music in Singapore November 13, 2018 – PHOTO: REUTERS SINGAPORE (REUTERS) - Trade tensions between the United States and China will trigger a "domino effect" of protectionist measures, Malaysia warned on Tuesday as Asian leaders gathered for a summit overshadowed by the tit-for-tat tariff war between Washington and Beijing. The comments by Prime Minister Mahathir Mohamad in Singapore came as China's premier - for a second day - struck a conciliatory note on the trade spat, saying he was hopeful that the two sides will find a way to prevent it escalating further. "I still hope we can hold talks based on mutual respect, balance and mutual benefits to resolve the issue. There are no winners in a trade war," Premier Li Keqiang said at … [Read more...] about Malaysia warns of “domino effect” from U.S.-China trade tensions