Powell Says More Proof of Easing Inflation Needed before Fed Cuts Rates
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MarketWatch - Business
Fed minutes show no consensus on how many months of good inflation data needed to start cutting interest rates
Several officials said that interest-rate hikes might be needed if inflation stays at its elevated level or increases further.Federal Reserve -
CNBC - Business
Fed says it's not ready to cut rates until 'greater confidence' inflation is moving to 2% goal
The Federal Reserve on Wednesday released minutes from its June 11-12 meeting.Federal Reserve -
The Wall Street Journal - World
Fed Officials Signaled No Hurry to Cut Rates
The minutes of their last meeting suggested some are on alert for signs of labor-market deteriorationFederal Reserve -
NBC News - Top stories
Fed says inflation is moving in the right direction
Federal Reserve officials indicated that inflation is moving in the right direction but not quickly enough for them to lower interest rates.Federal Reserve -
The Wall Street Journal - World
Dollar Could Fall if Rate Cut Bets Rise
The dollar looks set to fall heading into next year as recent softer U.S. economic data could bolster market expectations for interest rate cuts by the Federal Reserve, MUFG Bank said. -
CNBC - Business
Bitcoin slides to two-month low as Fed signals it's not ready to cut rates yet
Bitcoin on Thursday fell below the $57,000 mark for the first time since May 1, according to data from crypto ranking site CoinGecko. -
The Wall Street Journal - World
Metal Prices Mixed; Gold Slips Slightly But Base Metals Rise
Base metals prices were higher while gold futures ticked lower but broadly holding ground, supported by rising jobless claims, which weighed on investor belief in a still-hot U.S. labor market, SP Angel said. -
Financial Times - Business
ECB minutes reveal doubts over rate cut
Move to lower borrowing costs concerned many policymakers as inflation and wages moved in opposite direction -
Financial Times - World
Fed officials wanted ‘greater confidence’ that US inflation was cooling
Minutes of June meeting showed some officials were concerned about effect of high rates on job marketFederal Reserve -
The Hill - Politics
Will the Fed hit its inflation target by 2025? Don’t bet on it.
Treasury Secretary Janet Yellen expressed optimism that the Federal Reserve Board's 2 percent inflation target might be achieved by 2025, but other forecast groups show a less optimistic outlook, with inflation expected to remain above 2 percent ...Federal Reserve -
The Wall Street Journal - World
Turkish Inflation Moves Past Peak as High Rates Begin to Pay Off
Turkish consumer inflation looks to have begun a strong downward slide, says Bartosz Sawicki, market analyst at fintech Conotoxia.Turkey -
The Hill - Politics
Fed confident in 'restrictive' rate level while sounding notes of caution
Minutes from the Federal Reserve’s June meeting revealed confidence among central bankers that elevated interest rates were having the desired effect of cooling the economy toward a soft landing and 2-percent annual inflation. “The vast majority ...Federal Reserve -
The Wall Street Journal - World
Gold Futures Near Two-week Highs on Hopes for US Rate Cuts
Gold futures rose, nearing a two-week high, amid growing investor optimism for a U.S. interest rate cut. -
CBS News - Top stories
Why you should open a long-term CD before the July inflation report
With the next inflation report slated to be released soon, savers may want to open a long-term CD now. Here's why. -
CNBC - Business
Is inflation Biden's or Trump's fault? The answer isn't so simple, economists say
Biden and Trump traded barbs on the state of the U.S. economy during their first debate. But who or what is really responsible for inflation?Joe Biden -
Financial Times - World
Indonesia’s Prabowo sparks spending concerns with $28bn free school meals plan
Incoming president considers enlarged government and increased borrowing in break with predecessor Widodo -
Financial Times - World
FirstFT: Democratic governors back Biden
Also in today’s newsletter, a $2.65bn luxury department store deal and Goldman lobbies to change Fed’s stress test resultJoe Biden -
Financial Times - World
Belarus opposition calls for Brussels to protect stateless exiles
Also in this newsletter: How mafia organisations are infiltrating local governments in Italy -
ABC News - Sports
Andy Murray is getting set to say farewell to Wimbledon before retirement (probably)
Andy Murray is getting set to finish his Wimbledon career by playing men's doubles and mixed doubles -
The Wall Street Journal - World
Some Apologies Say More Than Others
One from the IRS can be quite eloquent, one reader thinks. -
The Hill - Politics
We need more accountability in our politics — I’ll go first.
we’re a little over halfway through the year, so it’s time to take a look back at some of the good (and bad) predictions I made back in the frosty winter months of 2024. -
NBC News - Top stories
Ozempic may be linked to condition that causes blindness, but more research is needed
People taking Ozempic and Wegovy may be at increased risk of developing a debilitating eye condition that can cause irreversible vision loss, a study published in JAMA Ophthalmology finds. -
The New York Times - Top stories
Biden Tells Governors He Needs More Sleep and Less Work at Night
The president’s opening remark to a group of key Democratic leaders — that he was in the race to stay — chilled any talk of his withdrawal, participants said.Joe Biden -
MarketWatch - Business
My spouse and I are 60 and receive $145,000 a year in pensions. Do we need to worry about inflation killing our retirement plans?
“Our annual expenses are $105,000 and that includes travel, entertainment and maintenance.” -
The New York Times - Top stories
G.M. Sold Millions of Cars That Were More Polluting Than Allowed, E.P.A. Says
The agency reached a settlement with the automaker over the sales of S.U.V.s and pickups that emitted excess planet-warming carbon dioxide. -
CNBC - Business
Romance scams cost consumers $1.14 billion last year. It's a 'more insidious' fraud, expert says
Cyber criminals are tapping into wealth accounts through human connection. Here's how to spot it and cut ties as soon as you can. -
MarketWatch - Business
Two more luxury-fashion players could join forces — with the backing of Amazon, report says
Upscale fashion retail chains Saks Fifth Avenue and Neiman Marcus could soon join forces and get a financial boost from Amazon.com Inc., according to a report on Wednesday, as luxury brands consolidate amid a slump in demand. -
Inc. - Business
U.S. Labor Market Eases Steadily Despite Rise in Job Openings
The Labor Department reports the number of jobs available in May stayed steady from April, a sign that the market is stabilizing. -
NBC News - Top stories
The pool party’s over as Americans ease up on backyard upgrades
Americans will be splashing around this summer in the backyard pools they’ve already got, but not splashing out as much on new ones. -
Financial Times - World
Questions in the wake of the global inflation hit
There is still too much we do not know about what happened and why -
The Wall Street Journal - World
The WSJ Dollar Index Falls 0.2% to 100.25
The WSJ Dollar Index was down 0.2% to 100.25 — down for two consecutive trading days. -
The Wall Street Journal - World
Only the Fed Can Rekindle America's Love for Cars
New-vehicle sales are stuck in middle gear as high interest rates and high prices push less affluent consumers into the secondhand market.Federal Reserve -
Wired - Tech
How to Get a Real ID License Before the Deadline
A new type of driver’s license will be required to board flights in the United States next year. Here’s how to update your license to the new Real ID standard before it’s too late. -
Financial Times - Business
Goldman Sachs faces uphill battle in dispute with Fed over stress test
Chance of reconsidering its grade ‘close to zero’ as US central bank has never overturned an assessment on appealFederal Reserve -
The Wall Street Journal - World
Ericsson Intends to Book $1.1 Billion Charge for Latest Quarter
The Swedish telecom-equipment company said lower-than-expected growth at its Vonage cloud subsidiary prompted the impairment charge. -
The New York Times - Sports
The Tense Moments Before Klay Thompson’s Stunning Split With Golden State
Steve Kerr made some decisions that, in retrospect, played a part in nudging Thompson out the door, a columnist for The Athletic writes. -
ABC News - Tech
Fossils show huge salamander-like predator with sharp fangs existed before dinosaurs
Scientists have identified a giant salamanderlike predator with sharp fangs that likely ruled waters 280 million years ago -
CBS News - Top stories
Giant creature with fangs was around long before dinosaurs, research reveals
Scientists have revealed fossils of a giant salamander-like beast with sharp fangs that ruled waters before the first dinosaurs arrived. -
ABC News - Top stories
'A direct and candid conversation': Democratic governors speak before Biden meeting
The closed-door meeting will include some talked about as possible replacements.Joe Biden -
The Hill - Politics
Paris waterway un-swimmable weeks before start of Olympics
Welcome to The Hill's Sustainability newsletter {beacon} Sustainability Sustainability The Big Story With just three weeks until the start of the Paris summer Olympics, the city's quintessential waterway remains un-swimmable due to ongoing ...Olympics