Breaking News: Economy
Powell says the Fed doesn’t need to be ‘in a hurry’ to reduce interest rates
Key Points Federal Reserve Chairman Jerome Powell said Thursday that strong U.S. economic growth will allow policymakers to take their time in deciding how far and how fast to lower interest rates. “The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said in Dallas. Source
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Watch Fed Chair Powell speak live to business leaders in the Dallas area
[The stream is slated to start at 3 p.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chair Jerome Powell speaks Thursday to business leaders in the Dallas-Fort Worth area on monetary policy. Powell is delivering a speech followed by a Q-and-A session. The appearance […]
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Wholesale prices rose 0.2% in October, in line with expectations
Customers shop at a Costco Wholesale store in Miami on Dec. 15, 2023. Joe Raedle | Getty Images News | Getty Images Wholesale prices nudged higher in October, though largely in line with expectations and mostly consistent with the Federal Reserve cutting interest rates again in December, the Bureau of Labor Statistics reported Thursday. The […]
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Stocks making the biggest moves premarket: Disney, Cisco, ASML, Tapestry and more
Check out the companies making headlines before the bell. Disney – Shares popped more than 9% after the company’s fiscal fourth-quarter results beat analysts’ estimates . For the period, Disney earned $1.14 per share, after adjustments, on revenue of $22.57 billion. That’s above earnings of $1.10 per share on revenue of $22.45 billion that analysts […]
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Stocks making the biggest moves midday: Rivian, Cava, Rocket Lab, Amgen and more
Check out the companies making headlines in midday trading. Charter Communications , Liberty Broadband — Cable operator Charter Communications agreed to acquire Liberty Broadband in an all-stock deal. Charter shares rose 5.6%, while Liberty Broadband slid 3%. Cava Group — Shares of the Mediterranean-inspired food chain popped 7% after third-quarter results came out stronger than […]
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Annual inflation rate hit 2.6% in October, meeting expectations
Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday. The consumer price index, which measures costs across a spectrum of goods and services, increased 0.2% for the month. That took the 12-month inflation rate to 2.6%, up 0.2 percentage point from September. The […]
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Personal luxury goods market to shrink for first time since the 2008 financial crash, research finds
The storefronts of Dolce & Gabbana, Tiffany & Co. and Patek Philippe are seen as people enter Icon Siam, a luxury shopping mall located on the Chao Phraya River, on June 12, 2024 in Bangkok, Thailand. Lauren Decicca | Getty Images News | Getty Images The personal luxury goods market looks set to face its […]
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Trump tariffs — and possible exemptions — could provide opportunities for Britain
The U.S. Stars and Stripes flag hangs on Whitehall with the figure of Lord Nelson on the top of his column in Trafalgar Square, on 3rd June 2019, in London England. Richard Baker | In Pictures | Getty Images LONDON — President-elect Donald Trump’s proposed trade tariffs could prove a boon for the U.K., with […]
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Trump backer John Paulson bows out as possible Treasury Secretary pick
John Paulson visits “Mornings With Maria” at Fox Business Network Studios on October 23, 2024 in New York City. John Lamparski | Getty Images Hedge fund chief John Paulson removed himself Tuesday from consideration as a potential nominee for Treasury secretary by President-elect Donald Trump. Paulson said, “My complex financial obligations would prevent me from […]
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‘The market is right’: Former Fed policymaker Mester sees fewer rate cuts next year after Trump’s victory
Federal Reserve chair Jerome Powell speaks during a news conference on Sept.18, 2024 in Washington, DC. Anna Moneymaker | Getty The U.S. Federal Reserve could carry out fewer interest rate cuts than previously expected next year should President-elect Donald Trump’s proposed global tariffs take hold, former Fed policymaker Loretta Mester said Tuesday. Mester indicated that […]
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