SYDNEY: US stock futures rose, erasing earlier losses and the yen pared gains as investors weighed news over the weekend that President Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell as well as the impact of a partial U.S. government shutdown.US Treasury Secretary Steven Mnuchin attempted to assure financial markets that Powell would not be ousted from the central bank following a Bloomberg News report that said Trump has repeatedly discussed removing him. Powell’s removal would add to uncertainty at the end of a tough year just as holiday-related market closures crimp trading volumes. On top of that, the U.S. government shutdown looks set to last past Christmas as negotiations between Democrats and the White House continue over Trump’s demand for border wall funding.Trump has discussed firing Powell many times in the recent days as his frustration with the central banker intensified following Wednesday’s interest-rate increase and intensifying stock market losses, according to four people familiar with the matter. Advisers to Trump have discussed setting up a meeting between Trump and Powell, the Wall Street Journal reported, citing a person familiar with the matter.Meanwhile, in China, top policy makers said they’ll roll out more monetary and fiscal support in 2019, ratcheting up the targeted stimulus of 2018. - Bloomberg

Source: The Star December 23, 2018 23:48 UTC