- Atlanta Fed President Raphael Bostic says he still expects one more interest rate increase this year, Reuters reports. Many economists expect two more rate hikes this year.
- Earlier this year, Bostic, who votes on the Fed's policy-setting committee, said he was open to a fourth hike if the economy outperformed. The risks of a trade war and the collapse in the Turkish lira temper the upside potential from tax reform and the government spending package.
- “I came in the year with three moves and I am still in that space," he said.
- The U.S. economy is strong enough to gradually remove the stimulus measures the Fed implemented after the financial crisis," he said.
- Still, it looks like "few companies" have put the dollars they saved from the Trump administration's tax cut into actions that could increase productivity, the Financial Times reports.
- The 10-year U.S. Treasury yield is down 3.8 basis points to 2.822% in late afternoon trading ET. (TLT +0.7%), (TBT -1.3%).
- ETFs: PLW, GOVT, EGF, TAPR, FTT, FIBR, USTB
- Previously: Trump complains about Powell at Hamptons fundraiser: Bloomberg (Aug. 20)
- Now read: Wait To Buy Bonds Or Buy Bonds And Wait?
Original article