FOMC cuts interest rates and looks at the labor market
WEB9 hours ago · Federal Reserve Chairman Jerome Powell initiated a rate cut today, with the Federal Open Market Committee (FOMC) lowering the target range for the federal funds rate by 50 basis points to 4.75% to 5.0%. The amended statement emphasized the labor market and the goal of maximum employment. The …
US core inflation rose 0.28% in August - financial-world.org
WEBSep 13, 2024 · 18, according to the CME Group’s FedWatch measure. A month ago, markets were leaning towards a 50 basis point cut. “The number is certainly not an obstacle to policy action next week, but the hawks on the committee will likely seize on today’s CPI report as evidence that the last mile of inflation needs to be handled with care and caution – a formidable reason to default to a 25 basis ...
Soft landing for the Fed, but Americans still struggle
WEBSep 3, 2024 · That disparity points to a striking gap between how economists and policymakers assess the past several years of the economy and how many ordinary Americans do, writes AP.In his remarks last month, given at an annual economic symposium in Jackson Hole, Wyoming, Powell underscored how the Fed’s sharp rate hikes succeeded much more than most economists had predicted in taming inflation without ...
Bank of Canada plans gradual interest rate cuts
WEB8 hours ago · Analysts' baseline expectation remains that the BoC will continue to cut rates by 25 basis points per meeting, meaning the overnight rate could fall to 2.25% by the third quarter of 2025. Despite signs of slowing inflation and stubborn wage growth, the BoC may be hesitant to increase the pace of rate cuts to 50 basis points in October.
Assessing the Shift in US Economic Exceptionalism Amid Global …
WEBMay 8, 2024 · Recent discussions around the perceived "end of US exceptionalism" have sparked interest and debate among economists and market watchers. This shift in narrative follows a series of economic indicators that suggest a mild slowdown in the US economy. Notably, the April non-farm payroll (NFP) growth was …
Federal minimum wage hasn’t increased since 2009 - Financial World
WEBAug 21, 2024 · Interestingly, the reality of the labor market paints a slightly different picture. According to the Bureau of Labor Statistics, of the nearly 80 million workers in the United States who are paid hourly rates, only about 1 million, or 1.3%, are paid at or below the federal minimum wage.
US economy experiences below-trend growth - Financial World
WEBAug 20, 2024 · The evidence suggests that the US economy is currently stuck in a rut of below-trend growth. This situation will likely persist if the Federal Reserve does not ease monetary policy quickly enough. The low momentum associated with below-trend growth makes the economy more susceptible to a recession if a …
Federal Reserve faces challenge in preventing recession - Financial …
WEBAug 14, 2024 · Federal Reserve faces challenge in preventing recession. The last few weeks have been marked by intense discussions about a possible recession in the US. The unemployment rate rose to 4.3% in July, triggering the so-called "Sahm rule", which led to considerable market uncertainty. This rule, named after economist Claudia Sahm, has …
Fed's Dovish Turn: Unpacking the Global Impact on Markets
WEBMar 26, 2024 · Central Banks in a Global Context. Beyond the United States, the ripple effects of the Fed's policies are felt widely. The Bank of England (BoE), for instance, is grappling with disinflationary pressures, indicating …
US Economy Defies Expectations with Robust Third-Quarter Growth
WEBOct 26, 2023 · The US economy defied prevailing expectations by registering a robust third-quarter growth, driven by strong consumer spending, even in the face of rising interest rates, persistent inflationary pressures, and a slew of domestic and global challenges.
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