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On Monday, the Minneapolis Federal Reserve Bank President Neel Kashkari stated that he voted against the Fed’s decision to raise interest rates on concerns of weak inflation and a flat yield curve.
Kashkari has opposed all three of the U.S. central bank’s decisions to increase interest rates this year. “Now a new concern is emerging: In response to our rate hikes, the yield curve has flattened significantly, potentially signaling an increasing risk of a recession,” Kashkari stated……Read More Now
THE HERALD FINANCE REPORT
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On Monday, the price of oil was pushed higher by a North Sea pipeline outage along with a Nigerian oil worker strike. The decrease in U.S. rigs drilling for oil also supported prices, although the growth in U.S. crude output dampened the market.
Brent crude futures at 1203 GMT were at $63.37 a barrel, up 14 cents from the last close. U.S. West Texas Intermediate crude futures were at $57.49 a barrel, an increase of 19 cents……Read More Now