As evidence keeps building that the hapless Biden administration couldn’t end fast enough, there’s also evidence that the first Trump presidency of strong growth and low inflation pre-COVID won’t return immediately. That’s the signal we’re getting from the bond market: The possibility that the fiscal time bomb of nonstop spending that Joe Biden and his … Read more
Powell’s current term as Fed chair ends in 2026 AFP US Federal Reserve Chair Jerome Powell said Thursday that he would not resign if asked to leave early by President-elect Donald Trump. Speaking at a press conference after unveiling a quarter point interest rate cut, Powell — whose term as Fed chair ends in 2026 … Read more
Last Updated:November 08, 2024, 00:54 IST The adviser cautioned that US President-Elect Donald Trump could always change his mind, but his present view is that Powell should remain atop the central bank. President-elect Donald Trump appointed Jerome Powell to lead the Federal Reserve in November 2017. President-elect Donald Trump remains likely to allow Federal Reserve … 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
The central bank might have begun cutting interest rates in late July had it known that the labor market was cooling as fast as it has been, Federal Reserve Chair Jerome Powell said Wednesday. “If you ask, you know, if we’d gotten the July report before the meeting, would we have cut? We might well have,” Powell told a news conference after the central bank cut its … Read more
US Fed Meeting: The US Federal Reserve on Wednesday cut key interest rates by 50 basis points to 4.75-5 per cent. This is the first rate cut in more than four years. The two-day meeting of the Federal Open Market Committee (FOMC), the rate-setting authority in the US, concluded on Wednesday. While addressing the media … Read more
SAN ANSELMO, CALIFORNIA – JUNE 06: In this photo illustration, the Coinbase logo is displayed on a screen on June 06, 2023 in San Anselmo, California. The Securities And Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by acting as an exchange, a broker and a clearing agency … Read more
Copper plates on wagons ready for onward shipping at the Mufulira refinery, operated by Mopani Copper Mines Plc, in Mufulira, Zambia, on Friday, May 6, 2022. Bloomberg | Bloomberg | Getty Images Copper prices on Tuesday rose to an almost six-week high, supported by fresh investor demand and market optimism over the potential for imminent … Read more
Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading in New York on August 23, 2024. Angela Weiss | AFP | Getty Images 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, … Read more
