Federal Reserve Chair Janet Yellen said it could be "quite dangerous to allow inflation to drift down" and leave the economy trapped below the central bank's 2% target rate. There is evidence that inflation expectations are about to fall, she said.
European Central Bank President Mario Draghi says digital currencies such as bitcoin have had limited effect on the broader economy, and pose no immediate threat to central banks' control of money supply. However, he added that authorities are watching developments and sharing information, with cybersecurity being a primary concern.
The European Central Bank is unlikely to make any major changes to its forward guidance as it unwinds its quantitative easing, officials say. However Benoit Coeure, director of market operations, said Tuesday that the central bank will likely be prepared to drop its bond-buying pledge by September.
JPMorgan Chase CEO Jamie Dimon has called bitcoin "fraud," but a source says the bank is considering giving clients access to CME Group's bitcoin futures contracts, which might launch this year. The bank reportedly is weighing demand and whether the risk is worth facilitating bitcoin trading.
Advisors who open a 529 college savings plan for their children are not required by the Financial Industry Regulatory Authority to report it to their employer, says attorney Alan Foxman. However, he notes that some firms may have their own requirements and suggests advisors double-check their compliance manual.
"[F]oresight isn't about simply making predictions," writes IIA President and CEO Richard Chambers. "It's about helping our organizations prepare for the future." In his latest blog, Chambers shares a five-step plan for providing greater foresight to organizational stakeholders.
It's a tumultuous time for traditional department stores, and Macy's CEO Jeff Gennette put together a team last year called What's New, What's Next to help guide the retailer's future. "It may be smaller, it may be more virtual, but I'm committed to bricks, and it's our job to figure out what to do with them," he said.
UK and EU negotiators over the next three weeks are working on a plan to resolve the most difficult aspects of Britain's departure from the EU. However, a variety of contentious issues remain, including how much the UK will pay the EU when it leaves.
Analysts say Europe's narrowing yield curve can lead to economic pessimism and tighter lending conditions, which may prompt the European Central Bank to review its stance on rate rises.
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