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...
Powell said that while inflation continues to make its way lower, the
The FTSE 100 and major indices across Europe rose, as investors digested fresh data including Friday's US jobs report.
The FTSE 100 and major indices across Europe rose, as investors digested fresh data including Friday's US jobs report.
The FTSE 100 and major indices across Europe rose, as investors digested fresh data including Friday's US jobs report.
U.S. consumer sentiment ebbed in April while inflation expectations for the next 12 months and beyond increased, a survey showed on Friday. The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 77.9 this month, compared to a final reading of 79.4 in March. Since January, the sentiment index has remained within a very narrow 2.5 point range, well under the 5 points which the University of Michigan said was necessary for a statistically...
The FTSE 100 and major indices across Europe rose, as investors digested fresh data including Friday's US jobs report.
The FTSE 100 and major indices across Europe rose, as investors digested fresh data including Friday's US jobs report.
The FTSE 100 and major indices across Europe rose, as investors digested fresh data including Friday's US jobs report.
High winds, rains, winter storms and tropical cyclones accounted for 80% of power interruptions over the last 20 yearsPower outages in the US are rising, as climate-related extreme weather strain an already burdened energy grid.Over the last decade, severe storm outages increased by 74% compared with the previous 10 years. Continue reading
London markets have been spooked by worse-than-expected economic data across the pond that has raised uncertainty over when central banks will start lowering interest rates. So what does this mean for mortgages?
US central banker says ‘recent data have clearly not given us greater confidence’ that inflation coming fully under controlThe Federal Reserve chair, Jerome Powell, cautioned on Tuesday that persistently elevated inflation will probably 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...