Donald Trump took the stage at the United Nations general assembly hall for the first time in six years to launch a full-on assault on the world body, which he described as a feckless, corrupt and pernicious global force that should follow the example of his own leadership.

In an inflammatory speech on the 80th anniversary of the founding of the United Nations, Trump called for countries to close their borders and expel foreigners, accused the UN of leading a “globalist migration agenda”, and told national leaders that the world body was “funding an assault on your countries”.

“It’s time to end the failed experiment of open borders,” he said in a headline speech to world leaders and visiting delegations in the grand general assembly hall in midtown Manhattan. “You have to end it now … Your countries are going to hell.” (Guardian – Continue Reading)

Chair Jerome Powell said he judged the Federal Reserve’s interest-rate stance as “still modestly restrictive” even after last week’s rate cut, implying more wiggle room to reduce rates this year if officials continue to judge that recent labour-market softness outweighs setbacks on inflation.

Powell, at a talk in Providence, R.I., on Tuesday afternoon, largely reiterated points he made at a press conference following last week’s rate cut. He highlighted how the Fed faces challenges in achieving both of its goals to keep inflation low and stable while promoting healthy labour markets. (WSJ – Continue Reading)

Managers in Germany are expected to voice a bit more optimism about their prospects after the country’s lower house finally approved this year’s budget, which signals the start of major military and infrastructure spending in the years ahead.

An economists’ poll said the headline business climate index for Germany due Wednesday from the country’s Ifo economics institute is forecast to rise to 89.2 points from last month’s reading of 89.0, which was the highest mark since April of last year.

The expectations measure of the index for the coming six months is projected to climb to 92.0 points from 91.6 in August, with September’s current assessment reading estimated at 86.5 versus 86.4 in the previous month. (LiveSquawk – Continue Reading)

Iran's Supreme Leader Ayatollah Ali Khamenei said on Tuesday that negotiations with the United States would not serve Tehran's interests and would prove a "dead-end".

In a recorded message, Khamenei also said Iran would not "surrender to pressure" regarding uranium enrichment and he reiterated Tehran's long-standing official position that it does not need nuclear weapons and has no intention of producing them. (Reuters – Continue Reading)