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Fed officials begin to flesh out new inflation strategy

Federal Reserve officials have started work on guidance to explain the practical effect of its new policy that allows inflation to rise above its 2% target. Whether investors, bond traders and consumers behave in a way that pushes inflation higher will be influenced by the way the central bank’s governors…

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Fed expected to keep rates low 5 years or more

The Federal Reserve is expected to hold short-term interest rates close to zero for the next five years and possibly longer, as well as adjusting its approach to inflation under a new monetary policy strategy. The new inflation policy is expected to be more flexible, allowing it to rise occasionally…

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Lawyer raises concerns about Labor Dept. advice rule

The Labor Department’s proposed financial advice rule would “resurrect” the fiduciary definition from the rule that was vacated by the US Court of Appeals for the 5th Circuit, according to attorney Kent Mason. “Effectively, financial professionals are forced into choosing between accepting fiduciary status or foregoing any future relationship with…

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Fed considers dropping rate hikes as inflation curb

The Federal Reserve is evaluating the option of abandoning its long-held policy of raising interest rates to prevent inflation from increasing. A policy of allowing inflation to increase modestly above 2%, to compensate for periods when it remained below that target, may be introduced over time. Full Story: The Wall…

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Interest rate likely to remain unchanged

The Federal Reserve is expected to leave the interest rate unchanged as Fed Chair Jerome Powell has said the economy would need to show signs of weakening before the rates would be lowered again. The Fed will wrap up a two-day meeting today. The Wall Street Journal

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Minutes: Fed becomes more optimistic about economy

The Federal Open Market Committee was more positive about the US economic outlook at an October meeting than at a September meeting, minutes show. Officials discussed the economy’s resilience amid challenges and agreed taking the benchmark interest rate into negative territory would be a bad idea. MarketWatch

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Economists unsure whether recession can be averted

Analysts project US GDP growth of 1.7% next year, prompting economists to discuss the long-held belief that a recession is inevitable when growth falls below 2%. Some economists suggest the economy could limp along at 1% to 1.5% growth without slipping into a recession. BNN Bloomberg (Canada)

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Group appeals decision upholding N.Y. best-interest standard

The Independent Insurance Agents & Brokers of New York is appealing a decision by acting Albany County Supreme Court Justice Henry Zwack that upholds a state best-interest standard for the sale of annuities and life insurance. Some major insurers have stopped selling annuities in New York as a result of…

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7 states, D.C. sue to stop SEC broker-recommendation rule

Seven states and the District of Columbia have asked a US court to strike down a rule from the Securities and Exchange Commission that lets brokers recommend products that benefit the broker as long as conflicts of interest are disclosed to clients. The plaintiffs say in their court filing the…

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Judge rejects challenge to N.Y. annuity sales rule

A New York judge has upheld the legality of an annuity sales rule, which was challenged in a lawsuit brought by the New York chapter of the National Association of Insurance and Financial Advisors and the Independent Insurance Agents and Brokers of New York. Following the ruling, Gary Sanders, vice…

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