WASHINGTON (AP) — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed rate cuts until later this year, opening the door to a period of higher-for-longer interest rates. “Recent data have clearly not given us greater confidence” that inflation is coming under control” and instead indicate that it’s […]
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
The consumer-price index, driven by fuel and housing costs, rose 0.4% from February, higher than the 0.3% expectedGlobal financial markets have scaled back expectations for an imminent cut in interest rates on both sides of the Atlantic after figures showed US inflation rose by more than expected in March.Figures from the US Department of Labor show a jump in fuel and housing rental costs drove up the consumer price index (CPI) to 3.5% in March compared with a year earlier, higher than expected...
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 key member of the US central bank, Raphael Bostic, tells the BBC rates might only ease "at the end of 2024".
Tiger Woods will hold talks about becoming the US Ryder Cup captain next week. Woods is the frontrunner to become Zach Johnson's successor for next year. Masters tee times REVEALED: Rory McIlroy and Scottie Scheffler paired together
The US House of Representatives once again voted on a bill that could ban TikTok. The updated version now requires ByteDance to sell the social media to a US company within one year instead of six months. Failing to do so would result in TikTok's ban from the Apple App Store and Google Play Store. TikTok preemptively posted a statement on X, saying the ban would "trample the free speech rights of 170 million Americans, devastate 7 million businesses, and shutter a platform that contributes...
TikTok says a ban on its platform in the U.S. hurts free speech and American businesses. The social media platform made this argument Sunday (April 21), one day after the U.S. House of Representatives passed legislation that would outlaw TikTok in the U.S. if the company’s China-based owner ByteDance doesn’t divest its stake within a year. “It is […]
The path for the Bank of England to cut interest rate cuts looks increasingly uncertain, particularly as the US Federal Reserve looks set to wait a while longer before loosening policy.
The Capitalist Pig Jonathan Hoenig joins the Steve Cochran Show to discuss the future of cryptocurrency, how politicians are negatively affecting the economy, and whether inflation & interest rates will always remain elevated. https://omny.fm/shows/pinch-hitters/will-americas-inflation-and-i
On Saturday, Congress advanced efforts to ban the widely-used video-sharing platform TikTok. The House made a second attempt to pass legislation aimed at tackling what lawmakers argue poses a national security risk.In a decisive 360-58 vote, the House of Representatives approved a bill containing a provision that would compel ByteDance, the owner of TikTok, to sell the company within a year. If the Chinese tech firm fails to follow the order, it will be removed from app stores in the US.However,...
Federal Reserve Bank of New York President John Williams said the central bank will likely start lowering interest rates this year if inflation continues to gradually come down.