Fed's Powell: Elevated inflation will likely delay rate cuts this year
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Fed’s Mester says forecast of 3 rate cuts this year is now probably too many
“I was on the record before saying I was at the median [forecast] which was three,” Loretta Mester said Monday. “The developments I’ve seen in the economy right now, I would not think that that’s still appropriate.”MarketWatch - Business -
Dollar rally falters as falling inflation raises hopes of rate cuts
US currency on track for first negative month of the year after end to months of above-forecast CPI dataFinancial Times - Business -
BoE could be close to cutting rates as inflation eases says deputy governor
Ben Broadbent believes direct effects of pandemic and war in Ukraine have now ‘faded’Financial Times - Business -
Treasury yields dip after rising for three days in a row on Fed rate-cut caution
Bond yields fell early Tuesday as investors eyed another batch of comments from Federal Reserve officials.MarketWatch - Business -
UK has room for three rate cuts this year, IMF says
The international body upgrades its UK growth forecast and says rates could fall to 4.5% by the end of 2024.BBC News - Top stories - United Kingdom -
Fed’s Powell tests positive for COVID-19 for second time
Federal Reserve Chairman Jerome Powell contracted COVID-19 for the second time and is working from home while he recovers, the Fed said Friday.MarketWatch - Business -
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.
The Dow crossed 40000 for the first time, a milestone that appeared implausible a little more than two years ago when the Fed began raising interest rates to cool an overheated economy.The Wall Street Journal - World -
Why the post-Fed stock-market rally is raising fresh inflation questions
The issue is whether Fed Chair Jerome Powell’s post-meeting remarks on May 1 — in which he said the central bank’s next move is “unlikely” to be a rate hike — are now easing financial conditions by so much that this ends up stalling progress on ...MarketWatch - Business -
Fed’s Bostic expects inflation to keep coming down — but slowly
The U.S. economy is slowing down, albeit at a glacial pace, and this should help inflation continue to gradually cool, Atlanta Federal Reserve Bank President Raphael Bostic said Monday.MarketWatch - Business -
Surging shipping costs could complicate Fed’s inflation fight
While supply shortages have eased greatly in the past few years, they have not entirely gone away.MarketWatch - Business - Inflation -
Fed likely to keep a $6.8 trillion balance sheet by December, says Barclays
Another lasting facet of the pandemic looks to be a very large Federal Reserve balance sheet.MarketWatch - Business - Federal Reserve -
ECB's Schnabel Says Second Rate Cut in July 'Does Not Seem Warranted'
The European Central Bank should move cautiously after delivering a first rate cut in June, a member of its executive board said in an interview.The Wall Street Journal - World -
ECB’s Schnabel lobbies against back-to-back rate cuts
European Central Bank board member Isabel Schnabel pushed back on the idea of back-to-back interest rate cuts, saying inflation risks are still tilted to the upside.MarketWatch - Business -
Grant's Take: Retail Sales Don't Point to Rate Cut Just Yet
Walmart earnings give a different signal than what the latest Commerce Department data delivered.The Wall Street Journal - World -
Mortgage rates drop as markets bet on Bank of England cut
Fresh wave of competition among lenders could provide relief for homebuyers ahead of UK general electionFinancial Times - Business - Mortgage -
China to cut mortgage rates as part of plan to prop up property market
Local authorities will be allowed to turn unsold homes from developers into affordable housing. China will cut mortgage rates and allow local authorities to turn unsold homes from developers into affordable housing, in a series of drastic measures ...The Guardian - World - China -
Summer interest rate cut possible, says Bank deputy
Ben Broadbent's comments come ahead of data which is expected to show a fall in inflation.BBC News - Top stories -
Fed’s Barkin says consumers are driving inflation. Here’s what they’re willing to pay more for.
The service sector “has changed their view” and believes consumers will accept higher prices and are going to raise them until households balk.MarketWatch - Business -
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The U.S. economy and inflation might be cooling off, but lower interest rates are still far away
Is the economy headed in the right direction? Wall Street investors certainly think so. They drove U.S. stocks to a record high this week. Why the optimism?MarketWatch - Business -
Britain's inflation rate could be about to drop below the Bank of England's 2% target
The headline inflation rate could be 'momentous,' but markets remain divided on the chance of a June cut and services will be the one to watch.CNBC - Business - United Kingdom -
BoE needs more evidence of price pressures easing before cutting rates, says policymaker
Megan Greene believes ‘burden of proof’ must lie in inflation waning before Bank of England loosens stanceFinancial Times - Business -
Gold Futures Set New Record on China Debt, Rate-Cut Hopes and Geopolitical Fears
Gold futures reached a new record settlement as Chinese investors flock to safe havens, rate-cut hopes grow and geopolitical tensions mount.The Wall Street Journal - World - China -
Target, Aldi cut prices on staples like chicken, diapers and pet food as shoppers rack up grocery debt
‘Consumers are feeling pressured,’ a Target executive said, while Walmart also lowered pricesMarketWatch - Business -
I earn $120,000 a year and have $165,000 in savings. How do I invest in this high-interest-rate environment?
“My husband and I would like to provide our new baby with the best life we can.”MarketWatch - Business -
What life is like in the world’s happiest country, from a 28-year-old who left the U.S. for Finland
Entrepreneur, content creator and U.S. expat Jade Ventoniemi shares why she loves living in Finland, the world's happiest country.CNBC - Business -
The Downside of Delayed Gratification
We’re all told that it pays to be disciplined in our spending and consumption. But the advice can backfire.The Wall Street Journal - World -
Jamie Dimon acknowledged that he would likely be leaving his role as chief executive officer of JPMorgan in fewer than five years.
Jamie Dimon acknowledged that he would likely be leaving his role as chief executive officer of JPMorgan in fewer than five years.The Wall Street Journal - World -
The Fed's Miracle Is Finally Back on the Table
Inflation is lower after months of hot readings, and investors love it.Inc. - Business -
Federal Reserve Chair Jerome Powell working from home after positive COVID-19 test
Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and is experiencing symptomsABC News - Top stories - Federal Reserve -
FIFA Delays a Vote on Palestinian Call to Bar Israel
FIFA said it would solicit legal advice before taking up a motion from the Palestinian Football Association to suspend Israel over its actions in Gaza and the West Bank.The New York Times - World - Israel -
Hunter Biden attorneys ask for delay in tax case
Hunter Biden’s attorneys have asked the judge overseeing his tax case in California to delay the trial, which is set for June, until September or later. Earlier this week, Biden lost his attempt to delay his federal gun trial in Delaware, with the ...The Hill - Politics - Joe Biden -
Boeing Woes: Criminal Probe, Spacecraft Delays
In a tightly controlled meeting, shareholders approved outgoing CEO Dave Calhoun's $32 million compensation as the Justice Department investigates apparent safety lapses and its space capsule sits on the launch pad.Inc. - Business -
Hunter Biden presses for delay in federal gun trial
Hunter Biden asked an appeals court to pause the trial, set to begin next month.ABC News - Top stories - Joe Biden -
Scheffler's arraignment delayed until June 3
Scottie Scheffler's arraignment on multiple charges stemming from an incident prior to the second round of the PGA Championship has been delayed until June 3.ESPN - Sports -
Scottie Scheffler's arraignment delayed in latest twist
Scottie Scheffler's arraignment on charges stemming from a traffic incident outside Valhalla Golf Club has been delayed until June 3.Yahoo Sports - Sports -
How fast is UK inflation falling?
Market Questions is the FT’s guide to the week aheadFinancial Times - World - United Kingdom -
New York crypto personality used 'Seinfeld' joke in fraud, feds reveal
A New York man pleaded guilty to swindling people out of more that $1 million in a scheme that referenced the "Seinfeld" character George Costanza.CNBC - Business - New York -
GOP lawmaker on Feds, UFOs: 'Give us the information. Let us decide'
Rep. Tim Burchett (R-Tenn.) is calling on federal government leaders to declassify all documents related to unidentified aerial phenomena (UAP), arguing federal agencies must be transparent if they are going to be funding millions of dollars. ...The Hill - Politics -
Oil prices drift lower as traders fret over Fed, look for catalysts
Oil futures trade lower early Tuesday as traders worry over the outlook for crude demand as the Federal Reserve maintains higher interest rates.MarketWatch - Business