Huawei Technologies will immediately lose access to updates to the Android operating system, a source close the matter told Reuters.Technologyread more
Huawei claims it has developed its own operating system for smartphones and laptops for "extenuating circumstances."Technologyread more
Trump's threat, posted on Twitter, comes amid rising international tensions in the Middle East as the U.S. has dispatched a carrier strike group and bomber task force to the...Politicsread more
Prime Minister Narendra Modi and his Bharatiya Janata Party are set to form the new government again, exit polls from India's month-long parliamentary elections show. But past...Electionsread more
The latest crisis in the uneasy French-German relationship was accelerated by Trump's decision to stop Germany's comfortable and decades-old free-riding on trade and security...Europe Politicsread more
While some fans of the long-running "Game of Thrones" felt satisfied by the show's final bow, others were quick to express their displeasure with how events unfolded.Entertainmentread more
Stocks in Asia were mostly higher on Monday amid rising tensions between the U.S. and China.Asia Marketsread more
Current geopolitical tensions are making it harder and harder for oil-producing nations to make decisions that will help stabilize crude prices, Russian Energy Minister...Oilread more
Russian Energy Minister Alexander Novak said there were different options available for OPEC and its oil-producing allies in the second half of 2019, including a possible...Oilread more
The Australian Electoral Commission (AEC) on Monday said Morrison's coalition has won 76 seats in Australia's parliament, which is comprised of 151 elected lawmakers.Electionsread more
U.S. President Donald Trump said his tariffs on Chinese goods are causing companies to move production out of China to Vietnam and other countries in Asia, and added that any...World Politicsread more
(Adds Harker's comments on trade, other Fed views on inflation)
May 6 (Reuters) - Falling U.S. inflation could prove "transitory," suggesting no reason to change monetary policy yet, a Federal Reserve policymaker said on Monday, adding that an interest rate hike could still be in the cards.
Philadelphia Fed President Patrick Harker said he is keeping his medium-range inflation forecasts unchanged, backing statements by Fed Chairman Jerome Powell last week that took markets by surprise.
Powell said in a press conference on Wednesday that lower inflation trends could be explained partly by "transitory" factors that might not last, including investment management fees, apparel prices and air fares.
Harker on Monday said he suspects that is true, but Fed policymakers seem divided on the topic.
"If any component of the outlook were to affect my view on the appropriate path of monetary policy, it would be inflation," Harker said in remarks prepared for delivery at an economics conference in Philadelphia. "However, were not there yet, and it would take more data to convince me. I therefore continue to see one increase at most this year; possibly one, at most, next."
The Feds preferred inflation measure, the "core" personal consumption expenditures (PCE) price index excluding the volatile food and energy components, slowed to an annual rate of 1.6% in March. The Fed's inflation target is 2%.
Powell's remarks surprised markets that are increasingly positioned for the Fed to cut rates to prevent inflation from stalling and potentially hurting spending and the central bank's ability to respond to recessions.
If the causes for low inflation are temporary, however, the Fed could decide to deliver a rate hike instead.
Fed policymakers appear divided on the question. Cleveland Fed President Loretta Mester told Reuters on Friday that she also expects weak inflation to prove transitory.
Two of her colleagues, Chicago Fed President Charles Evans and St. Louis Fed President James Bullard, suggested that same day that lower inflation readings are worrisome and could force a change in direction.
Harker, who does not vote on the rate-setting Federal Open Market Committee this year but participates in its deliberations, also said some of the trade-related factors driving U.S. growth in the first quarter could be fading.
On Sunday, U.S. President Donald Trump said he would ratchet up tariffs on $200 billion worth of imports from China, escalating a trade dispute marked by tit-for-tat duties between Washington and Beijing as ongoing talks were set to continue this week.
Harker said trade tariffs are "not a healthy thing" but that "we do want fair trade." (Reporting by Trevor Hunnicutt in New York Editing by Chizu Nomiyama and Paul Simao)