Affluent Americans are driving U.S. economy and likely delaying need for Fed rate cuts

U.S. economy grew 2.8% last quarter, powered by consumer spending

Consumer confidence soared in October, signaling that Americans may continue to open their wallets.

The U.S. economy grew at a 2.8% pace in the third quarter, less than expected

The U.S. economy posted another solid though slightly disappointing period of growth in the third quarter, propelled higher by strong consumer spending that has defied expectations for a slowdown.

U.S. Economy Grew at a Solid 2.8 Percent Pace Last Quarter

Consumer spending powered gains despite still-high interest rates, indicating healthy, reslilient conditions.

Business - Inc. - Yesterday

Hong Kong bars services like WhatsApp and Google Drive from government computers

The Hong Kong government is barring most civil servants from using popular apps like WhatsApp, WeChat and Google Drive on their work computers due to potential security risks

Tech - ABC News - October 23

China reports its economy grew at a 4.6% annual rate in the July-September quarter, below the government'S 5% target

World - ABC News - October 17

China's economy grows at a 4.6% rate in the last quarter, falls short of the official 5% target

China has reported that its economy expanded at a rate of 4.6% in the July-September quarter

World - ABC News - October 18

How back-to-back hurricanes could impact insurance rates across the U.S.

As Florida residents recover from hurricanes Milton and Helene, experts say the damage will likely worsen the home insurance crisis in the state and could lead to higher rates nationwide. CBS News ...

U.S. unemployment rate to stay low in 2025, top forecaster says

U.S. economic growth should moderate in 2025 but remain relatively strong, and the unemployment rate will look a little better, Harvard economist Karen Dynan said Tuesday.

Business - MarketWatch - October 15

Trump invokes economy, public safety and 'China virus' during Asian American rally in Vegas

At his first campaign rally targeting the Asian American and Pacific Islander community this election cycle, former President Donald Trump took the stage Thursday evening in Las Vegas with a speech ...

Wednesday Briefing: U.S. Warns it May Cut Israel’s Military Aid

Plus, an investigation into China’s panda breeding program.

World - The New York Times - October 15

Biden Announces $3 Billion to Cut Carbon Emissions at U.S. Ports

On a visit to Baltimore, the president said federal grants would help upgrade port infrastructure at 55 sites nationwide.

Business - Inc. - 2 days ago

Biden to apologize to Native Americans for U.S. boarding school atrocities

President Biden is in Arizona Friday where he's expected to apologize to Native Americans for atrocities that took place at U.S. government-run boarding schools. CBS News congressional ...

American strikes kill up to 35 ISIS operatives in Syria, U.S. says

The U.S. military struck several Islamic State group camps in central Syria, killing up to 35 operatives, said the U.S. Central Command.

European Central Bank set for third interest rate cut of the year in meeting this week

Markets are eyeing two more rate cuts from the euro area's central bank this year amid a weak growth outlook and lower inflation.

Business - CNBC - October 14

How much does a $200,000 home equity loan cost per month now that rates are cut?

As interest rates fall, home equity loans become cheaper. Here's what a $200,000 home equity loan costs monthly now.

Global public debt to hit $100tn this year, says IMF; Boeing to raise up to $25bn to shore up balance sheet – business live

Rolling coverage of the latest economic and financial news, as IMF warns that future debt levels could be higher than currently projected. Cooling labour market adds to Reeves’s tax-raising ...

World - The Guardian - October 15

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