Inflation
More than 400 economists, former White House advisors endorse Harris, warn against Trump policy agenda
Democratic presidential nominee and Vice President Kamala Harris speaks to members of the media upon her arrival at Joint Base Andrews in Maryland on Sept. 22, 2024. Matt Rourke | Via Reuters More than 400 economists and former White House policy advisors announced their support for Vice President Kamala Harris over former President Donald Trump […]
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Fed’s jumbo interest rate cut puts the U.S. on track for a soft landing, Goldman CFO says
U.S. Federal Reserve Chair Jerome Powell holds a press conference in Washington, D.C., on Sept. 18, 2024. Mandel Ngan | AFP | Getty Images The Federal Reserve’s move to lower interest rates by 50 basis points puts the U.S. economy on track for a soft landing, according to Goldman Sachs‘ chief financial officer. His comments […]
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Gen Z and millennials are increasingly ‘doom spending.’ Here’s what it is and how to stop it
Westend61 | Westend61 | Getty Images Some young people are splashing out on luxuries like travel and designer clothes instead of saving, in a trend that’s being characterized as “doom spending” on social media. Doom spending is when a person mindlessly shops to self-soothe because they feel pessimistic about the economy and their future, according […]
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Fed Governor Waller says inflation softening faster than he expected put him in half-point-cut camp
Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week’s meeting because inflation is falling even faster than he had expected. Citing recent data on consumer and producer prices, Waller told CNBC that the data is showing core inflation, excluding food and energy, in the Fed’s preferred […]
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Biden claims he’s ‘never once spoken’ to Powell as president, but they met in Oval Office in 2022
Chairman of the Federal Reserve Jerome Powell (left) meets with President Joe Biden in the Oval Office on May 31, 2022. Saul Loeb | AFP | Getty Images President Joe Biden on Thursday said he had “never once spoken” to Federal Reserve Chair Jerome Powell while he was president. But the pair, joined by Treasury […]
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The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means
Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the […]
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Watch: Biden delivers remarks at the Economic Club of Washington, D.C.
[The stream is slated to start at 1:15 p.m. ET. Please refresh the page if you do not see a player above at that time.] President Joe Biden is speaking at the Economic Club of Washington, D.C., on Thursday, where he is expected to celebrate falling inflation and interest rates. The president’s remarks come the […]
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Citi: Cost per seat miles is rising across airlines
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Stephen Trent, Citi’s MD on Americas Airlines, compares discount airlines to bigger carriers, and how they’re navigating debt, labor & supply issues. Source
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Fed slashes interest rates by a half-point, an aggressive start to its first easing campaign in four years
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. With both the jobs picture and inflation softening, the central bank’s Federal Open Market […]
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European markets fall as investors weigh UK inflation data, look to Fed rate decision
A market stall in the Kingston district of London in 2024. Bloomberg | Bloomberg | Getty Images LONDON — European markets fell on Wednesday as investors considered key data from the region and looked to the U.S. Federal Reserve interest rate decision. The pan-European Stoxx 600 index was down 0.45% at 12:39 p.m. London time, […]
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