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US economy 'set for solid growth'

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The US economy is set for solid growth of 2.25-2.50% rate this year, according to a top Fed official.

However, Dallas Federal Reserve Bank President Robert Kaplan told the FOX Business Network that it was too soon to say what effects US tariffs on Chinese imports would do to the country's currency or inflation rate.

Kaplan also reiterated that he wants to be patient on rates and avoid policies that might create excesses or imbalances in the US economy.

Fed minutes fail to stem Wall St falls

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The Fed minutes have had little impact on Wall Street with all three indexes continuing to trade lower.

"I don't think the Fed is a major consideration for the market right now," says Robert Phipps, a director at Per Stirling Capital Management.

"There are times when geopolitical factors overwhelm everything else, and we believe this is increasingly one of those times."

Fed minutes show no rush to raise rates

Jerome Powell

The US Federal Reserve minutes from their interest rate meeting last month have just been released.

They show that officials agreed that their current patient approach to setting monetary policy could remain in place "for some time."

Officials also spoke in depth about how they could best structure their holdings of several trillion dollars of securities to battle a future economic downturn, the minutes show.

Trump to Pelosi: 'I don't do cover ups'
Mr Trump called the accusations a "takedown attempt of the President of the United States".