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Xi Plans to Turn China Into a Leading Global Power by 2050

President Xi Jinping warned of “severe” challenges while laying out a road map to turn China into a leading global power by 2050, as he kicked off a twice-a-decade party gathering expected to cement his influence into the next decade.In a speech that ran for more than three hours on

Taylor Impresses Trump for Fed Chairman, Warsh Slips

Stanford University economist John Taylor, a candidate for Federal Reserve chairman, made a favorable impression on President Donald Trump after an hour-long interview at the White House last week, several people familiar with the matter said.Former Fed board governor Kevin Warsh has meanwhile seen his star fade within the White

Yellen Calls Inflation the ‘Biggest Surprise’ in the Economy

Federal Reserve Chair Janet Yellen said that the U.S. central bank expects to continue to raise interest rates gradually as solid growth, a strong labor market and a healthy global economy lift prices even as she recognized that inflation has been surprisingly low. “My best guess is that these soft readings

Indian Refinancing of Non-Rupee Loans at Three-Year Low: Chart

Indian companies are rolling over the smallest amount of foreign-currency syndicated loans in three years after interest rate hikes by the Federal Reserve pushed borrowing costs to an almost nine-year high. The three-month London interbank offered rate climbed to 1.36 percent this month while refinancings by Indian firms have fallen

Trump to Meet With Economist John Taylor This Week

President Donald Trump is meeting this week with Stanford University economist John Taylor, who is on the shortlist of people under consideration to be the next chairman of the Federal Reserve, three people familiar with the matter said.The people were unsure when the meeting was to take place.Taylor is a

How Bonds Will Trade Trump’s Fed Pick Based on Volcker, Bernanke

If history is any guide, bond traders will be in for a volatile few days if Kevin Warsh is selected as the next leader of the Federal Reserve. Or, it’ll be smooth sailing in the $14.1 trillion Treasuries market if President Donald Trump taps Jerome Powell or Janet Yellen.Strategists at Nomura

Dollar Slips, Stocks Mixed as Fed Chief Pick Looms: Markets Wrap

The rally in the dollar petered out as investors awaited President Donald Trump’s decision on the leadership of the Federal Reserve and gauged prospects for U.S. tax cuts. Bonds edged higher and Asian stocks were mixed after American indexes closed at record highs.The Bloomberg dollar index and 10-year Treasury yields both retreated from

Japans Manufacturing Confidence Touches a Decade High

Confidence among Japan’s big manufacturers has improved to the highest level in a decade, underscoring Prime Minister Shinzo Abe’s run of success on the economy as he heads into an election later this month.HighlightsSentiment among large manufacturers rose to 22 from 17 three months ago, the highest level since September 2007, (estimate