September 14 International Forex News
Trump and Warsh Set for a Showdown This Week as Failing to Hike Would Put Credibility at Risk
On September 14, according to the Financial Times, stubbornly high inflation is pushing President Trump and Federal Reserve Chair Warsh toward a confrontation this week, with markets preparing for the Fed to raise interest rates despite the president's demands.
Economists warn that the Fed's credibility will be at risk if it fails to deliver a rate increase on Wednesday. Official data show no sign of the meaningful improvement that the Fed chair previously said would be needed to avoid a hike. However, the first rate increase in three years, coming just weeks before the November midterm elections, could anger the president, who has made clear he wants borrowing costs to fall sharply.
Trump reiterated on Sunday that the United States should have the lowest interest rates in the world. Kevin Hassett, director of the National Economic Council, warned that "if it is a hike, the president... I am sure he would not be particularly happy about it."
Goldman Sachs Now Expects a 25-Basis-Point Fed Rate Hike in September
On September 14, Goldman Sachs now expects the Federal Reserve to raise interest rates by 25 basis points at its September policy meeting, reversing its earlier forecast of unchanged rates. Goldman Sachs said the revision is driven less by the economic outlook than by financial-market pricing, with investors now broadly expecting a rate increase.
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October 28 Phosphate Daily: Weakness Continues, Market Waits on the Sidelines9625
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October 28 Pesticide Daily: Holding Steady, Awaiting Direction8670
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October 28 Urea Daily: Market Still Steady, Direction Awaits a Driver6961
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October 27 Urea Daily: Divergence in Transactions, Sentiment Still Cautious7528
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October 27 Phosphate Daily: Weak Atmosphere Persists as Costs Move Down in Tandem9455
