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The Latest Breaking News from Jerome Powell

The Fed could slash rates by 200 points over 8 meetings as the economy signals a sharper downtrend, Citi says

Citi sees the Fed slashing rates from 5.25%-5.5% now to 3.25%-3.5% by July 2025.

Fortune

Fed Monitoring Job Market As Economy Slows

US job market shows signs of slowing down, but experts do not foresee a recession. Federal Reserve closely monitoring for potential impacts on inflation an...

Top News

US economy adds 206,000 June jobs as labor market cools slightly

Number is close to what was expected, as unemployment rate creeps above 4% for first time in two years

The Guardian - US

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Federal Reserve minutes: Inflation is cooling, but more evidence is needed for rate cuts

Federal Reserve officials at their most recent meeting welcomed recent signs that inflation is slowing and highlighted data suggesting that the job market and the broader economy could be cooling

The Independent UK

S&P Futures Tread Water Ahead of FOMC Meeting Minutes, U.S. Economic Data on Tap

September S&P 500 E-Mini futures (ESU24) are trending up +0.05% this morning as market participants looked ahead to the release of the Federal Reserve’s June policy meeting minutes while also gearing up for a slew of U.S. economic data to gain insights into the policy outlook.

Barchart

US service sector shrinks for first time since May 2020; UK private sector growth slows in ‘pre-election seize up’ – as it happened

Eurozone private sector also loses momentum

The Guardian - UK

Aussie shares rise for first time in new financial year

The ASX200 finished up 0.3 per cent after supportive comments by US Federal Reserve chairman Jerome Powell and better-than-expected domestic retail sales data.

AAP

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Asia Markets Track Wall St Records As Powell Revives Rate Hopes

Asian stocks rose Wednesday following fresh records on Wall Street after Federal Reserve chief Jerome Powell fanned hopes of an interest rate cut by saying the battle against inflation had made "progress" and the job market was cooling.

International Business Times

Federal Reserve Chair Powell Stresses Need For Inflation Progress

Federal Reserve Chair Powell discusses progress in combating inflation and cautious approach to interest rate cuts.

Top News

US Fed Has Made 'Quite A Bit Of Progress' On Inflation: Powell

The US Federal Reserve has made "quite a bit of progress" in its fight against rising prices and could hit its inflation target as soon as next year, Fed chair Jerome Powell said Tuesday.

International Business Times

Sainsbury’s boss says rate cuts needed to spur consumer spending; eurozone inflation dips to 2.5% – as it happened

Simon Roberts says consumer caution ‘not surprising given everything households have been through in the cost of living crisis’

The Guardian - UK

Stocks Set to Open Higher as Investors Await FOMC Minutes and U.S. Jobs Data

September S&P 500 E-Mini futures (ESU24) are up +0.15%, and September Nasdaq 100 E-Mini futures (NQU24) are up +0.10% this morning as market participants looked ahead to the release of the minutes of the Federal Reserve’s latest policy meeting, remarks from Fed Chair Jerome Powell, and a fresh batch of…

Barchart

Stocks Set to Open Mixed as Investors Await FOMC Minutes and U.S. Jobs Data

September S&P 500 E-Mini futures (ESU24) are up +0.03%, and September Nasdaq 100 E-Mini futures (NQU24) are down -0.06% this morning as U.S. Treasury yields climbed at the start of a holiday-shortened week, with market participants looking ahead to the release of the minutes of the Federal Reserve’s latest policy…

Barchart

Central banks face threats to their independence − and that isn’t good news for sound economic stewardship (or battling inflation)

Nearly every country in the world has a central bank – a public institution that manages a country’s currency and its monetary policy. And these banks have an extraordinary amount of power. By controlling the flow of money and credit in a country, they can affect economic growth, inflation, employment…

The Conversation

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Reason

The Contemptuous Merrick Garland

Plus: The Federal Reserve considers an interest rate cut, its chairman considers persistently high inflation, housing pops up on the National Mall, and more...

The Guardian - UK

US producer prices slide as inflationary pressures ease; UK housing market weakens – as it happened

Rolling coverage of the latest economic and financial news

International Business Times

Asian Stocks Build On Wall St Records After US Inflation Data

Asian traders extended a rally across world markets Thursday as they welcomed figures showing US inflation slowed further last month, tempering concerns about the Federal Reserve's forecast of just one interest rate cut this year.

Fortune

The Fed just penciled in only one interest rate cut this year—but officials are divided on policy

While seven Fed officials are projecting one rate cut this year, four see no cuts, and eight see two cuts in a sign of a divided central bank.

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Kiplinger

Fed Holds Rates Steady, Sees Just One Cut This Year: What the Experts Are Saying

The Federal Reserve kept interest rates unchanged and penciled in one quarter-point cut in 2024.

Top News

US Labor Market Showing Signs Of Recovery, Says Fed Chair

Federal Reserve Chair Powell expresses cautious optimism about US labor market recovery, highlighting positive trends and ongoing monitoring for stability.

The Guardian - US

Federal Reserve holds interest rates at two-decade high as it waits for inflation to cool

Instead of cutting rates, central bank keeps them between 5.25% and 5.5%, where they have been for nearly a year

Kiplinger

May CPI Report Comes in Soft: What the Experts Are Saying About Inflation

A slowdown in inflation keeps the Fed on track for rate cuts later this year.

Fortune

Investors celebrate as an ‘unequivocally good’ inflation report opens the door for Powell to cut rates this fall

Fitch Ratings’ head of U.S. economic research called the CPI report “a delightful appetizer while we await the main course.”

Barchart

Stock Index Futures Soar After CPI Report Shows Inflation is Slowing

June S&P 500 E-Mini futures (ESM24) are up +0.89%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.92% this morning after the Consumer Price report for May was released.

Top News

Federal Reserve Likely To Downgrade Outlook For Interest Rate Cuts

Federal Reserve likely to lower rate cut projections due to high inflation, impacting borrowing costs and economic outlook.

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