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September 5, 2024

Paulson Sees Fed Cutting Rates to as Low as 2.5% by End of 2025

(Bloomberg) -- Billionaire John Paulson said the Federal Reserve has waited too long to cut interest rates and expects the central bank to lower them in the months ahead.Most Read from BloombergThe Outsized Cost of Expanding US RoadsWorld's Second-Tallest Tower Tests Malaysia's Appetite for More SkyscrapersMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatBy the end of next year,

September 5, 2024

Airlines and Other Oil Buyers Jump on Chance to Lock In Prices

(Bloomberg) -- Airlines and other oil consumers are taking advantage of crude’s slump to the lowest level in a year to buy some protection against a rebound in prices.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Tallest Tower Tests Malaysia's Appetite for More SkyscrapersThey are piling in to option

September 5, 2024

Fed seeks feedback on emergency lending operations

The Federal Reserve said on Thursday it was seeking feedback on how it operates its "discount window," which is intended to provide emergency lending to banks in times of stress. The Fed said it wanted comments on various aspects of how banks deal with the window, including the collection of legal documentation, pledging and withdrawing collateral, and extending credit. The solicitation marks the latest effort by the Fed to tweak the discount window, which banks have long resisted utilizing out of concern that it carries a stigma that could undermine stability in times of stress.

September 5, 2024

Trump Vows 15% Corporate Tax and Taps Musk for Federal Audit

(Bloomberg) -- Donald Trump pledged to cut the corporate tax rate, slash regulations and audit the federal government, embracing an idea proposed by billionaire backer Elon Musk, as he pitched his agenda to Wall Street and corporate leaders in New York.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Ta

September 5, 2024

Yellen Says Labor Market ‘Healthy,’ Amid Unemployment Rise

(Bloomberg) -- Treasury Secretary Janet Yellen said the US job market remains healthy and touted “very solid” consumer and investment spending, even as recent data suggest some cooling is taking place.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Tallest Tower Tests Malaysia's Appetite for More Skysc

September 5, 2024

OPEC+ Pauses Oil Supply Hike in Effort to Reverse Price Slump

(Bloomberg) -- OPEC+ postponed its oil supply hike by two months, but the move wasn’t enough to roll back steep losses in crude prices amid fears about fragile demand. Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Tallest Tower Tests Malaysia's Appetite for More SkyscrapersKey coalition members won’t

September 5, 2024

Mexico Central Banker Heath Says Food Volatility Clouds Inflation Outlook

(Bloomberg) -- Mexican central bank Deputy Governor Jonathan Heath said it’s uncertain how soon food price pressures will cool and bring policymakers relief on non-core inflation as they mull new interest rate cuts.Most Read from BloombergThe Outsized Cost of Expanding US RoadsHow Air Conditioning Took Over the American OfficeMadrid to Ban E-Scooter Rentals, Following Lead Set in ParisHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatWorld's Second-Tallest Tower Tests Malaysia's Appetite

September 5, 2024

Average long-term US mortgage rates holds at 6.35% this week ahead of expected Fed rate cut

The average rate on a 30-year mortgage in the U.S. was flat this week ahead of an expected interest rate cut from the Federal Reserve later this month. The rate remained at 6.35% from last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.52%, Freddie Mac said.

September 5, 2024

Unemployment is rattling the Fed committee so much that even its hawkish members are backing a cut

"The balance of risks has shifted and I am today giving basically equal attention to the maximum employment objective."

September 5, 2024

Private sector tallies lowest monthly job gain since January 2021

The data comes as investors watch for signs of how quickly the Federal Reserve could bring down interest rates.

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