Older Americans are fueling a sustained boost to the U.S. economy. Benefiting from outsize gains in the stock and housing markets over the past several years, they are accounting for a larger share of consumer spending — the principal driver of economic growth — than ever before.
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.
The US central bank's favored measure of inflation accelerated last month, according to government data published Friday, pushing back the chances of an interest rate cut this summer.The hotter print is likely to cement the view that inflation, while down sharply since 2022, remains a challenge, and could keep the Federal Reserve on pause as it seeks to battle rising prices.It also complicates US president Joe Biden's reelection message as he seeks to convince still-skeptical consumers that the...
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...
Analysts expect S&P 500 profits to jump 8% in 2024 and 14% in 2025 after subdued growth last year.
A key member of the US central bank, Raphael Bostic, tells the BBC rates might only ease "at the end of 2024".
(Reuters) -JPMorgan Chase CEO Jamie Dimon expressed confidence in a robust U.S. economy backed by strong employment and healthy consumer finances. The U.S. economic boom is "unbelievable," Dimon said at an Economic Club of New York event on Tuesday. Dimon, who has run the largest U.S. lender for more than 18 years, has cautioned that inflation could be more persistent than expected, keeping interest rates higher for longer.
Following the latest Halving, Bitcoin’s inflation rate has officially become lower than Gold’s, making BTC the scarcest asset in history. Bitcoin Halving Results In Inflation Rate Dropping To Just 0.83% In its latest weekly report, the on-chain analytics firm Glassnode discussed the impact of the latest Halving on cryptocurrency. Halving is a periodic event on […]
CNBC's Jim Cramer referred to these factors as "brown shoots" that are disrupting U.S. economic growth.
OTTAWA - Bank of Canada governor Tiff Macklem says central banks will make monetary policy decisions geared toward their own economies, which means some countries may begin cutting interest rates before others. Macklem made the comments while speaking to reporters on the sidelines of International Monetary Fund meetings in Washington, D.C. Friday. “We've all been resolute in our commitment to restore price stability, and we've matched those words with action that has helped us all bring...
On Friday, April 26, Acinq announced that its Lightning Network bitcoin wallet, Phoenix, will cease services for U.S. residents from May 3, 2024. This announcement followed closely on the heels of the Samourai Wallet indictment and what is perceived as a targeted U.S. government effort against financial privacy and non-custodial solutions. Lightning Network Platform Phoenix […]
Taking to X on April 22, Willy Woo, an on-chain analyst, notes that the tides are turning in the age-old battle between gold and Bitcoin. While gold has enjoyed a 6,000-year reign as a scarce asset, advancements in mining technology have eroded its scarcity narrative, going by the accelerated production rate in the past few decades. Gold […]