Wholesale prices in the US rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday’s report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain … Read more
WASHINGTON — No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year. The presidential contest might still be unresolved when the Fed ends … Read more
Four days before Election Day, the government will issue its final snapshot of hiring and unemployment in the United States after a presidential race in which voter perceptions of the economy have played a central role. Yet Friday’s report will include some of the most distorted monthly employment figures in years, with job growth having … Read more
Analyzing the state of the U.S. economy before Election Day – CBS News Watch CBS News CBS News polling shows most voters have long been dissatisfied with U.S. economic conditions. But does perception match reality? Kate Davidson, managing editor for U.S. economic policy for Bloomberg News, joins “America Decides” to discuss. Be the first to … Read more
The Dow surged more than 400 points on Wednesday as investors awaited the minutes of the Federal Reserve’s latest meeting, while Alphabet shares dipped after the US said it was considering breaking up Google. In recent trading, the Dow Jones Industrial Average climbed 361 points, or 0.9%, to 42,438. The blue chip index closed at record … Read more
Former US Treasury Secretary Larry Summers says September’s better-than-expected jobs report shows the Federal Reserve’s half-point rate cut was “a mistake.” Following the Labor Department’s report that employers added 254,000 jobs in September – well above the 140,000 gain that was predicted by LSEG economists – and the unemployment rate declined slightly from a month ago to 4.1%, Summers … Read more
The economy added a whopping 254,000 jobs last month — blowing past forecasts that predicted a modest rise and diminishing Wall Street’s hopes of another big rate cut from the Federal Reserve next month. The Labor Department also reported that the unemployment rate fell to 4.1% — a decline from 4.2% in the previous month. … Read more
Inflation showed further signs of cooling on Friday as Wall Street starts to price in further interest rate cuts by the Federal Reserve. The personal consumption expenditures price index (PCE), the Fed’s preferred measure of inflation, showed that the rate at which prices rose for goods and services last month was 2.2% — below economists’ … Read more
SINGAPORE: Yields on Singapore’s six-month Treasury bill (T-bill) fell to a more than two-year low on Thursday (Sep 26), with the latest auction reporting a cut-off yield of 2.97 per cent per annum. This is the lowest return on a six-month T-bill since August 2022 – a development that is not unexpected to market watchers … Read more
The US Federal Reserve’s decision to cut interest rates by half a percentage-point was “an appropriate and necessary first step,” given progress on reducing inflation, a senior bank official said Monday. The central bank surprised some analysts by choosing a more aggressive rate cut last Wednesday, as the Fed looked to support the cooling US … Read more
