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The Federal Reserve said Wednesday that the USA economy is strong enough for the central bank to begin reducing its $4.5 trillion balance sheet in October, gradually unwinding a massive stimulus program started after the economy entered a severe recession almost a decade ago.
The central bank confirmed, as expected, that it start trimming the $4.5 trillion balance sheet it built up after the recession in October.
The Federal Open Market Committee said it will keep the federal funds rate in a range of 1%to 1.25%.
The Federal Reserve took a small step to begin unwinding its crisis-driven asset purchases on Wednesday, but since the move was widely expected, the meeting's real drama hinged on the outlook for future rate hikes.
Interest rate futures traders are now pricing in a 68-percent chance of a December rate hike, up from around 60 percent before the statement, according to the CME Group's FedWatch Tool.
US crude rose 1.5 percent to $50.65 per barrel and Brent was last at $55.86, up 1.75 percent on the day.
That has undoubtedly helped support the stock market and economy during a very tricky post-credit crunch period.
ASIA'S DAY: Japan's Nikkei 225 added 0.1 percent to 20,310.46 and South Korea's Kospi edged down 0.2 percent to 2,412.20.
Sloane Stephens wins US Open for first Grand Slam title
King won back to back titles in 1971 and 1972 and then another (her last) in 1974 before passing the torch to Chris Evert. It was the first all-American US Open women's semi-finals since 1981 and the first at any Slam since Wimbledon in 1985.
FINSUM:We do not have any particularly sharp insight into what the Fed will do (and we don't think anyone really does), but we do believe that a shrinking of the balance won't cause the bond market losses that many fear.
The greenback was higher versus a majority of its G-10 peers, climbing as much as 0.7 percent after earlier posting declines of about 0.4 percent in the run up to the Fed's announcement.
The central bank last raised its benchmark rate in June, lifting it by a quarter of a percentage point, the fourth increase since it started gradually pushing up rates in December of 2015. On some days, demand for certain issues exceeds the amount of those bonds the Fed holds.
At 10.02am‚ the rand was at R13.2830 to the dollar from R13.3186‚ at R15.9370 to the euro from R15.9765 and at R17.9483 to the pound from R17.9990.
Brent crude futures rose $1.15, or 2.1 percent, to settle at $56.29 a barrel, while USA crude futures gained 93 cents, or 1.9 percent, to settle at $50.41.
Pfizer rose more than 2%, lifting the S&P and the Dow higher, after Morgan Stanley upgraded stock to "overweight" from "equal weight". The price of West Texas Intermediate is trading at $50.18 near a four month high. The Nasdaq composite fell 19 points, or 0.3 percent, to 6,442.
Bed Bath & Beyond BBBY.O sank more than 13 percent after the home furnishing retailer reported earnings and sales below estimates, prompting a slew of price target cuts.
USA stocks have been breaching record levels, with the Dow clocking a closing record for the fifth day in a row on Monday and the S&P closing at a record for the second consecutive session.
The Energy Information Administration (EIA) report of weekly USA crude inventories showed a higher than expected rise at 4.6 million barrels.
Unfortunately for Bolts fans, Sunday's loss was the second-consecutive week the team has fallen on a failed field goal attempt. LA finished out their San Diego residency past year in a 5-11 campaign that left them in last place in the AFC West.
It has allowed the likes of Samsung incorporate display of 6.3 inches in the Galaxy Note 8 without adding weight or girth to it. Samsung had launched the Note 8 on Aug 23 and is slated to reach showrooms in the USA and United Kingdom on September 15.
But it can last for only so long, and their first performance of the year widened any existing gulf between offense and defense. This would be the ultimate troll job after his career with the Green Bay Packers came to an abrupt end following last season .
OBJ is a transcendent talent, who's mere presence on a football field forces opposing defenses to shift their attention his way. If the Lions' defense looks anything like it did last week against the Cardinals, expect them to cover that +3 spread easily.
The team has also played incredibly well since it lost its last game, outscoring opponents by a grand sum of 139-35. Bruce then smacked a 2-0 pitch into the right-field corner to score Ramirez with the winning run.
Kim's antics have also started to affect China's strategic interests. "We will defend our allies and our territory". North Korea "will be absolutely sure that the United States will pay the price", said Pyongyang.
We made some strides. "We've got to look in the mirror and stop that problem ourselves". "We can't point the finger". Three plays later, Raiders running back Marshawn Lynch scored on a 2-yard run. "We got some playmakers", Lynch said.
In a blog post published on Friday (Sept. 8), he said resorts had been "decimated". "It's absolutely ridiculous and inhumane". He told the Associated Press that companies with better disaster insurance will be able to rebuild more quickly.
They have requested a FEMA incident management team to expedite any federal assets that may be needed to respond to the storm. Residents cleared out store shelves, grabbing the essentials as they prepared for the worst in cities like Charleston.
India Seeks Deportation of Rohingya for Security Reasons
On behalf of the government , Suu Kyi said the Myanmar authorities are set to restore security and order in Rakhine state. The Supreme Court on Monday will hear plea filed by the two Rohingya immigrants, Mohammad Salimullah and Mohammad Shaqir.
IPhone 8 price in India: Here's how you can get discount
It is clear Apple tried hard to focus on battery improvements on the areas that users use most, i.e talk time and audio playback. Nearly the entire front of the phone will be screen save for a cutout at the top for the earpiece, selfie camera, and sensors.
Vikings' Sam Bradford inactive Week 2 against Steelers
The Vikings are a better team against the run than the Browns are, making Pittsburgh's task this week a bit hard . A play where rookie Juju Smith-Schuster took a shovel pass and rumbled into the end zone from the four-yard-line.
Packers-Falcons at a glance
Ryan is also coming off a season in which he threw for 4,944 yards and fired 38 touchdowns to just seven interceptions. The Packers are no strangers to opening a visiting team's stadium - it lost 17-14 in the Vikings' first game at U.S.
AJ Green frustrated by lack of targets on final drive
O'Brien said he hopes he will be able to stick with whoever starts on Thursday - and it is expected to be Watson - going forward. It was a bad night for the Bengals, and after only two games Cincinnati is on the verge of kissing its season goodbye.
Alabama, Georgia and South Carolina Colleges Close for Irma
Florida's coastal and southern areas have been evacuated since last week with a record 6.3 million people leaving their homes. BOTTOM LINE: What About South Carolina? Jones added that once the wind direction shifts, the water will quickly return.
Hurricane Irma thrashes Florida
Authorities have urged residents in the state to evacuate, but like many , Chapman waited too long and now can't leave. Georgia Power spokeswoman Holly Crawford said Monday the areas with the most outages were Glynn and Chatham counties.
Where Is Hurricane Irma Going Next?
The National Weather Service issued tornado warnings for a wide swath of Monroe, Miami-Dade and Broward counties in South Florida. Many of the islands in the firing line were battered by category 5 Hurricane Irma on Wednesday, with winds gusting over 185mph.
Erdoğan urges Muslim countries to help Rohingya
Successive regimes have historically discriminated against them even though many have lived for generations in Rakhine state. India remains deeply concerned about the situation in Rakhine State in Myanmar and the outflow of refugees from that region.
Venus Williams Awaits All-American Semifinals at US Open
So in the mens's singles, you have 36-year-old Roger Federer and in the women' singles, it is 37-year-old Venus Williams . Kvitova battled back from a five-month absence after a knife-wielding home intruder injured her left hand last December.