Connect with us

Latest News

Fed’s Kaplan sees US inflation rising but not ‘running away’

Published

on


Robert Kaplan, president and CEO of the Federal Reserve Bank of Dallas.

Mary Catherine Wellons | CNBC

Robert Kaplan, president and CEO of the Federal Reserve Bank of Dallas.

U.S. inflation is rising toward the Federal Reserve’s 2 percent goal while not accelerating enough to suggest the economy is overheating, Dallas Federal Reserve President Robert Kaplan said on Tuesday.

Inflation is approaching 2 percent but it’s “not running away from us,” he said at an event titled “Energy, Trade, and Energy Growth” sponsored by the Council for Foreign Relations.

Inflation data for April indicated further growth on domestic wages and consumer prices although they fell short of market expectations.

Kaplan, who is not a voting member of the Federal Open Market Committee in 2018, said he expected the U.S. economy to grow about 2.50 percent to 2.75 percent in 2018, underpinned by the biggest tax overhaul in 30 years enacted last December.

He cautioned the tax boost would fade in 2019, slowing gross domestic product to 1.75 percent to 2 percent growth rate by 2020.

With businesses expanding and the consumer sector in “pretty good shape,” Kaplan said the Federal Reserve will likely stay on track to raise key overnight borrowing costs at a gradual pace.

He told reporters after the event that he was not committed to whether the Fed would raise short-term interest rates two or three more times in 2018.

Interest rates futures implied a more than a 50 percent chance the U.S. central bank would increase rates by year-end to bring its target range to 2.25 percent to 2.50 percent, according to CME Group’s FedWatch program.

The FOMC, which is scheduled to next meet on June 12-13, last raised its federal funds rate to 1.50 percent to 1.75 percent in March.



Source link

Latest News

Three options strategies for the week: August 20

Published

on

By


The “Options Action” traders share three options trading strategies to kick off the week.

Dan Nathan recommends a call spread in Alibaba.

Mike Khouw recommends a put spread in the Energy ETF

Mike Khouw recommends an iron condor strategy in the Russell 2000 ETF

Trader disclosure: On July 17, 2018, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s “Options Action” were owned by the “Options Action” traders: Dan Nathan is long XLF Sept put spread. Dan is long CAT put spread. Dan is long QQQ Sept put spread. Dan is long SMH Oct put spread. Carter disclosures not available. Long S&P, HAL. Bearish on TSLA.



Source link

Continue Reading

Latest News

cornhole wants to make it to the big leagues

Published

on

By


Ankit Mittal, of Ellicott City, Md., tosses a bean bag as his friend Shean Flynn, of Newport News, Va., waves his Terrible Towel as the two were playing Corn Hole while enjoying tailgating before the game between the Pittsburgh Steelers and Washington Redskins at FedEx Field in Landover, Md.

Ricky Carioti | The Washington Post | Getty Images

Ankit Mittal, of Ellicott City, Md., tosses a bean bag as his friend Shean Flynn, of Newport News, Va., waves his Terrible Towel as the two were playing Corn Hole while enjoying tailgating before the game between the Pittsburgh Steelers and Washington Redskins at FedEx Field in Landover, Md.

Every day after he leaves his job as a warehouse general manager, Cody Henderson runs up to three miles. Then, he sets up cornhole boards and practices throwing beanbags for a couple hours, focusing on timing, balance and precision.

“It helps a lot with the endurance and mental game,” Henderson, 27, told CNBC. “If you can sit there and not get bored in a quiet area for two or three hours, you are really going to set yourself up to succeed on the pro level.”

Succeed he has. Henderson, who lives in Jackson, Ohio, is the top-ranked player out of the 20,000 pros in the American Cornhole League (ACL). He says he earned between $20,000 and $25,000 in prize money last year. He’s peaking just as the sport is surging in popularity.

While cornhole is generally thought of as a beanbag tossing game played at family gatherings or tailgate parties, it’s gotten so big that players like Henderson are making their way to ESPN. During last year’s The Ocho, a one-day event for alternative sports on ESPN 2, the Championship of Bags was the most viewed competition.

In the 18 to 49 age group, more peopled watched cornhole on that day than the competing game coverage of Major League Baseball, the WNBA or the final stage of the Tour de France, according to Sports Media Watch.

For Henderson, cornhole requires 20 hours a week of training and tournaments on weekends. Still, he said most people don’t take him seriously when he says he plays professionally.

“They’ll say, ‘Oh yeah really?’ and just change the subject,” he said. “When people were seeing me on ESPN, everyone’s attitude changed.”



Source link

Continue Reading

Latest News

TiVo falls on report Amazon is developing live TV recording device

Published

on

By


TIVO, Inc. gave a way free TIVO (DVR) Digital Video Recorder, boxes to thousands of happy Comcast Cable customers, who also donated a toy or clothing for charity outside their corporate headquarters.

Kim Kulish | Corbis | Getty Images

TIVO, Inc. gave a way free TIVO (DVR) Digital Video Recorder, boxes to thousands of happy Comcast Cable customers, who also donated a toy or clothing for charity outside their corporate headquarters.

Shares of TiVo fell as much as 10 percent in afternoon trading Friday following a Bloomberg report that Amazon is eyeing a live TV recording device.

TiVo pared losses and closed just 4 percent down at $12.20. The drop extends a challenging run for TiVo, which is now off 20 percent in 2018 and 30 percent in the last 12 months.

Amazon is known to scare investors and send stocks tumbling with news of a planned entrance into a new industry. Earlier this week, movie theater stocks dropped on a report that Amazon is considering a bid for Landmark Theaters.

Representatives for Amazon and TiVo were not immediately available to comment.



Source link

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.