Federal Reserve Chair Jerome Powell cautioned that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence” that inflation is coming fully under control and "instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said during a panel discussion. “If higher inflation does persist,” he said, “we can...
A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid. Friday’s report from the government showed that prices rose 0.3% from February to March, the same as in the […]
Fed Powell Says Progress in Reducing Inflation Stalled (Second column, 5th story, link) Related stories:Market fear signals flashing redIMF Steps Up Warning Over Spending and Ballooning DebtThe overlooked threats to global financial system Drudge Report Feed needs your support! Become a Patron
"Energy markets remain the key transmission mechanism from regional tension/conflict to the rest of the world economy."
"Whether we like it or not, services such as retail, care work, and other personal services will remain the primary engine of job creation."
Speaking at the WNBA draft, Collingswood-born commissioner Cathy Engelbert name-dropped her "hometown" first on a list of cities the league has talked with.
By AAMER MADHANI (The Associated Press) NEW YORK (AP) — President Joe Biden said Friday that he is willing to debate his presumptive Republican opponent, Donald Trump, later this fall – his most definitive comment yet on the issue. The comment came during an interview with the Sirius XM radio host Howard Stern, who asked […]
WASHINGTON >> A measure of inflation closely tracked by the Federal Reserve remained uncomfortably high in March, likely reinforcing the Fed’s reluctance to cut interest rates anytime soon and underscoring a burden for President Joe Biden’s re-election bid.
This is an edition of the newsletter Box + Papers, Cam Wolf’s weekly deep dive into the world of watches. Sign up here. At my heart, I am a man of science. The son of a developmental and cell biology major who carried a periodic table in his wallet (true story). And while intuition and taste help inform what I cover in this newsletter, at the end of the day there’s nothing sturdier to me than data. And, like Al Pacino announcing an Oscars winner, my eyes saw that the recent rash of new releases...
By Diksha Madhok and Rachel Wilson, CNN New Delhi/London (CNN) — In just a few days, India will commence the world’s largest democratic election. An estimated 960 million people in a country of 1.4 billion are eligible to vote in the polls, which start on Friday and will take more than a month to complete.
By Diksha Madhok and Rachel Wilson, CNN New Delhi/London (CNN) — In just a few days, India will commence the world’s largest democratic election. An estimated 960 million people in a country of 1.4 billion are eligible to vote in the polls, which start on Friday and will take more than a month to complete.
Federal Reserve Chair Jerome Powell said Tuesday that the U.S. economy, while otherwise strong, has not seen inflation come back to the central bank’s goal, pointing to the further unlikelihood that interest rate cuts are in the offing anytime soon. Speaking to a policy forum focused on U.S.-Canada economic relations, Powell said that while inflation continues to make its way lower, it hasn’t moved quickly enough, and the current state of policy should remain intact. “More recent data shows...