Interest Rates
CNBC Daily Open: Recession concerns still linger
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 19, 2024. Brendan McDermid | Reuters This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. […]
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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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China’s yuan jumps to 16-month high, state banks step in to curb gains
Close up of Chinese Yuan notes, with Mao Tse-tung Peter Dazeley | The Image Bank | Getty Images China’s yuan rose to its strongest level in nearly 16 months on Friday on bets that Beijing will unveil fresh economic stimulus following a jumbo U.S. rate cut, though gains were capped by dollar buying from Chinese […]
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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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August home sales drop more than expected, as prices set a new record
Sales of previously owned homes fell 2.5% in August from July, to a seasonally adjusted annualized rate of 3.86 million units, according to the National Association of Realtors. That is slightly lower than what analysts expected. Sales were 4.2% lower than August 2023. It marks three straight months of sales below the 4 million mark, […]
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Bank of England presses pause on rate cuts, highlights ‘gradual approach’
Commuters cycles past the Bank of England (BOE), left, in the City of London, UK, on Monday, Sept. 16, 2024. The central bank’s Monetary Policy Committee’s interest rate decision is scheduled for release on Sept. 19. Bloomberg | Bloomberg | Getty Images LONDON — The Bank of England on Thursday said it would hold interest […]
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CNBC Daily Open: Markets need time to digest the 50-point cut
Federal Reserve Chairman Jerome Powell speaks during a news conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. Anna Moneymaker | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC […]
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Hong Kong central bank cuts interest rate, tracks Fed move
People wearing face masks walk by the Hong Kong Monetary Authority on March 4, 2020 in Hong Kong. The Hong Kong Monetary Authority bought HK$1.586 billion ($202 million) from the market on Thursday to stop the local currency weakening and breaking its peg to the U.S. dollar, the de-facto central bank’s first intervention in 18 […]
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