Fed’s Goolsbee says ‘more sniffing’ may be needed before rate cuts
by CNBC
CNBC— Federal Reserve Bank of Chicago president Austan Goolsbee on Friday said "more sniffing" is needed before the Fed can cut interest rates. Here's what to know.
South China Morning Post—HKMA says high rates ‘may last’ as it delays cut in lockstep with Fed. HKMA reiterated its warning for Hong Kong’s borrowers to “carefully assess” their financial power in considering buying property or taking on mortgages, as high interest rates “may last some time.”
CNBC—The Fed would only cut rates to help the U.S. service its soaring debt, fund manager says. The reason the Fed may be tempted to cut rates would be to help the U.S. cover interest payments on the national debt, according to fund manager Freddie Lait.
NBC News—Affluent Americans are driving U.S. economy and likely delaying need for Fed rate cuts. Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including to a science fiction convention in Scotland and a Disney cruise soon after that, along with a trip next year to neolithic sites in Great Britain. “I really have more money to spend now than when I was working,” said Harris, 64, an engineer who worked 29 years for the federal government and lives in...