The Federal Reserve’s preferred measure of inflation showed prices once again rose at an unexpectedly brisk rate in March, marking another setback for rate-cut timing. The core Personal Consumption Expenditures Price Index rose 0.3% in March from the previous month and 2.8% year-over-year, according to the latest Bureau of Economic Analysis data released Friday. The … Read more
LOWERING THEIR ASKING RENT Real estate agents told CNA that it has become harder to find tenants today, as there are more apartments available in the market. Last year, they could close a rental deal with just one viewing. This year, however, they have observed that it takes an average of 10 viewings before they … Read more
Shares of Trump Media & Technology Group — the former and possibly future president’s eponymous social-media company — have lost around half their value since going public last month. It’s easy to see why: Massive operating losses — and let’s face it, aside from Trump himself, just who really uses its Truth Social social-media product? … Read more
Equity benchmark indices declined in early trade on April 12 after a record-breaking rally in the previous trade. | Photo Credit: REUTERS Equity benchmark indices declined in early trade on April 12 after a record-breaking rally in the previous trade as investors went in for profit-taking amid weak trends from Asian markets. The hotter-than-expected U.S. … Read more
The Federal Reserve kept interest rates unchanged following its meeting on Wednesday — a move that was widely anticipated as the central bank cautioned that it “does not expect it will be appropriate” to slash rates “until it has gained greater confidence that inflation is moving sustainably toward 2%.” The central bankers signaled that they … 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 Bank of Canada has held its key interest rate at five per cent again, saying that it’s still too soon to consider rate cuts while underlying inflation persists. Economists were widely expecting the central bank to hold the rate. The bank said in a note on its website that it was still concerned about underlying inflation, which strips … Read more
After the pandemic hit in 2020, some business owners and households were hard hit financially as a result of lockdown measures. But at the same time, many Canadians saw their bank accounts grow because of their reduced spending. Those savings ballooned to over $300 billion and became so large that economists expected there would be … Read more
Federal Reserve chairman Jerome Powell is not known for his resolve. It’s the main reason why the new and emerging consensus among Wall Street Fed watchers is that he will cut interest rates at least twice this year despite signs of persistent inflation, the Post has learned. If the CEOs and top executives who follow … 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
