"The FOMC has gained greater confidence that inflation is moving sustainably toward our 2% goal," Jefferson said, referring to the rate-setting Federal Open Market Committee, of which he is a member. "To maintain the strength of the labor market, my FOMC colleagues and I recalibrated our policy stance last month."
(Bloomberg) -- While price pressures have eased dramatically in the past two years, the war against inflation isn’t over just yet — and factors from spending on pricey artificial intelligence technology to nearshoring may be to blame. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated b
(Bloomberg) -- Mexico’s new president plans to lay out clear rules for private investment in the power sector, a top cabinet official said, acknowledging that the state has insufficient resources to expand renewable energy use and address electricity supply and distribution problems.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for Ho
(Reuters) -Wall Street's benchmarks finished up on Tuesday, recouping some of the previous session's losses, as investors bought back in to technology stocks and investors shifted their focus to upcoming inflation data and the start of third-quarter earnings season. All three of the main indexes suffered a sell-off on Monday, falling roughly 1% each, as they were pressured by surging Treasury yields, escalating Middle East tensions, and a re-evaluation of U.S. rate expectations. The easing of Treasury yields somewhat on Tuesday, however, meant investors were drawn to high-growth stocks, which benefit from lower debt costs to fuel their growth, such as technology companies.
Federal Reserve Bank of Boston President Susan Collins said on Tuesday that with inflation trends growing weaker it is very probable that the U.S. central bank can deliver more interest rate cuts. "Further adjustments of policy will likely be needed," Collins said in the text of a speech to be delivered before a conference at her bank. Noting that Fed officials predicted half a percentage point's worth of cuts by year-end at their policy meeting in September, she said "I will stress that policy is not on a pre-set path and will remain carefully data dependent, adjusting as the economy evolves."
(Bloomberg) -- Federal Reserve Bank of Boston President Susan Collins said policymakers should use a careful, data-dependent approach as they lower interest rates to help preserve the strength of the US economy. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould
Last week's jobs numbers confirm the U.S. labor market remains strong even though it may be slowing, with a 4.1% unemployment rate around what is considered full employment and employers adding jobs faster than what is needed to account for population growth, Atlanta Federal Reserve President Raphael Bostic said on Tuesday. The rise in the unemployment rate from last year's lows well below 4% "is actually a move to where most folks, before the pandemic, thought full employment was," Bostic said at a meeting with foreign consular officers based in Atlanta. "The labor market ... is certainly slowed down, but is not slow," he said, while monthly job creation "is pretty robust."
Argentina's monthly inflation rate is expected to have slowed to 3.5% in September, which would be the lowest monthly rate since the end of 2021, a Reuters poll of economists showed on Tuesday. That rate would be a sign of progress for the government of libertarian President Javier Milei, which has focused on taming runaway prices since taking office in December. Argentina's national statistics agency will publish the on Thursday.
(Bloomberg) -- The rout in US government debt eased on Tuesday after longer-dated yields reached the highest levels since late July and oil prices fell.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Racing to Make Way for HomesChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilShould Evictions Be Banned After Hurricanes and Climate Disasters?W
