US Dollar Index turns negative on dovish Powell

The Dow Jones Industrial Average thrust off its recent bearish trend during mid-day trading on Friday, surging to a 700 point gain after Federal Reserve Chairman Jerome Powell reassured investors that the central bank would take stock market conditions into account when deciding whether to hike interest rates.

US stocks were pummelled on Thursday after Apple slashed its revenue forecast due to weak demand in China and a report showed US manufacturing activity slumping to a two-year low, reviving fears about a global economic slowdown in the wake of the US-China trade war.

Mr Trump's attacks have added to the jitters, since it could cause the Fed to tighten policy just to prove its independence.

The latest economic data was welcomed by Wall Street, which had been in a downward spiral towards the end of 2018 amid concerns the Federal Reserve would continue to raise rates as the economy slowed.

"Particularly with the muted inflation readings that we've seen coming in, we will be patient as we watch to see how the economy evolves", Powell told the American Economic Association.

"Patience is the right approach", when the Fed is getting conflicting signals from the hard data, which is backward-looking, and the financial markets, which are looking ahead to downside risks, said Kohn, now a senior fellow at the Brookings Institution in Washington.

Ellen Forgives Kevin Hart As He Considers Hosting the Oscars
I knew how important it was and how it was a dream. "And I'll state it again , to anybody I've hurt, I'm sorry". "I personally thought his apology after ... all this broke was sort of a non-apology apology", Huntsman said .

Cricket Betting Tips and Match Prediction- Australia v India 4th Test
Watch the ICC Cricket World Cup, the Ashes and the Women's Ashes live on Sky Sports Cricket in 2019! It's got nothing to do with proving we have done something which hasn't been done in the past.

Kim says ready to meet Trump 'anytime,' warns of 'new path'
Obviously, this is a speech primarily delivered for a domestic audience, but he just did use the phrase denuclearization. He's now at the Center for Strategic and International Studies and is a professor at Georgetown University.

He added that, if needed, "we are always prepared to shift the stance of policy and to shift it significantly". "I can't think of any Fed chairs who didn't eventually meet with the president, but again nothing has been scheduled and I don't have anything to report". The Fed chairman, responding to a question about what he would do if Trump asked him to step down, said he would not resign.

But, he said, "If we reached a different conclusion we wouldn't hesitate to make a change".

The commander-in-chief has also ripped the Fed on Twitter and in interviews.

The Fed is also below its estimates of full employment.

Trump picked Powell to head the Fed in February.

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