The U.S. Federal Reserve held interest rates steady on Wednesday and signaled it is still leaning toward eventual reductions in borrowing costs, but that cuts could be delayed as recent inflation numbers have strayed further from its two per cent target. Indeed, Fed Chair Jerome Powell said it was likely to take longer than previously expected for Fed officials … Read more
WASHINGTON — Federal Reserve officials signaled Wednesday that they still expect to cut their key interest rate three times in 2024 despite signs that inflation stayed surprisingly high at the start of the year. Yet they foresee fewer rate cuts in 2025, and they slightly raised their inflation forecasts. After ending their latest meeting, the … Read more
U.S. consumer prices increased solidly in February amid higher costs for gasoline and shelter, suggesting some stickiness in inflation that could delay an anticipated June interest rate cut from the Federal Reserve. The consumer price index (CPI) rose 0.4 per cent last month after climbing 0.3 per cent in January, the Labour Department’s Bureau of Labour Statistics … Read more
The Federal Trade Commission sued to block a proposed merger between grocery giants Kroger and Albertsons, the parent company of Shaw’s, saying the $24.6 billion deal would eliminate competition and lead to higher prices for millions of Americans. The FTC filed an administrative complaint against the companies Monday, which will be considered by an administrative … Read more
U.S. consumer prices increased more than expected in January amid rises in the costs of shelter and health care, but it likely won’t change expectations that the Federal Reserve will start cutting interest rates in the first half of 2024. The consumer price index (CPI) increased 0.3 per cent last month after gaining 0.2 per cent in December, … Read more
For a third straight time, the U.S. Federal Reserve kept its key interest rate unchanged Wednesday, as it signalled its expectations to make a series of quarter-point cuts to the benchmark interest rate next year. Those envisioned rate cuts — which wouldn’t likely begin until the second half of 2024 — suggest officials think high borrowing rates … Read more
