Business this week
UK Only Article:
Liu Xiaobo’s death holds a message for China
The Trump administration nominated Randal Quarles to be vice-chairman for supervision at the Federal Reserve. Mr Quarles is a former investment manager and Treasury official. He is sympathetic to the industry’s push for a lighter regulatory touch, and has supported a Republican recommendation to restrict the Fed’s flexibility on interest rates by basing those decisions on a mathematical formula. See article.
Steady as she goes
Speaking to Congress, Janet Yellen said that although inflation remained an uncertainty, the Fed was on course to unwind the asset portfolio it had accumulated since the financial crisis and to continue with rate rises. The guessing game has already begun about whether Donald Trump will choose a new chairman of the Fed when Ms Yellen’s term is up in February.
The Bank of Canada raised interest rates for the first time in seven years, increasing its benchmark rate by a quarter of a percentage point to 0.75%. The central bank said it was responding to strong economic growth. ...