Newsbytes

FOMC Minutes Show “Limited Amount” of Additional Tightening Likely

The Federal Open Market Committee (FOMC) highlighted that only a limited amount of interest rate increases would be appropriate, given current information on the economy. With the federal funds rate judged to be at or near the lower end of the range of estimates of the neutral rate, the Committee “could afford to be patient about further policy firming.” The ...

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ARRC Posts Free Webinars on Proposed Libor Transition Language

The Alternative Reference Rates Committee -- a group of private-sector market participants and public agencies convened by the Federal Reserve -- today released two free webinars to help market participants better understand and respond to its request for feedback on draft fallback language for certain financial instruments that reference the U.S. dollar London Interbank Offer Rate.

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ISM: Non-Manufacturing Sector Growth Slower in December

The ISM Non-Manufacturing Index registered 57.6 points in December, 3.1 percentage points below November’s figure. This was the 107th consecutive month of expansion, as a reading above 50 indicates growth. Sixteen non-manufacturing industries reported growth, while one reported a decrease. The majority of respondents remain positive about business conditions and the economy, but tariffs (even with the recent hold on increases ...

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IRS to Resume Tax Transcript Service

The Internal Revenue Service will on Monday resume processing requests for tax transcripts made through its Income Verification Express Service program -- a service that has been suspended since the partial government shutdown began on Dec. 22, 2018.

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312,000 Jobs Added in December, Unemployment Rate rises to 3.9 percent

Total nonfarm payroll employment grew by 312,000 in December, an increase from last month’s upwardly revised reading of 176,000, according to the Bureau of Labor Statistics. The national unemployment rate rose from 3.7 percent to 3.9 percent. Private service-providing industries gained 227,000 jobs, led by education and health services, which added 82,000 jobs. Goods-producing employment rose by 74,000 jobs during ...

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