Powell says rate cuts will take 'longer than expected' after 'lack of progress' on inflation
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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 -
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 -
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 -
Fed’s Waller needs ‘several more months’ of good inflation data before backing rate cut
“In the absence of a significant weakening in the labor market, I need to see several more months of good inflation data before I would be comfortable supporting an easing in the stance of monetary policy,” Waller said Tuesday.MarketWatch - Business -
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 -
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 -
Rates should be cut to 3.5% by end of 2025, 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 -
Global Economy Will Grow More Than Expected, U.N. Report Says
An update to January forecasts suggests the world's economic growth rate will hit 2.7 percent in 2024, thanks to a better U.S. outlook and improved prospects for some larger emerging economies.Inc. - Business -
Oil Falls on Concerns of Higher-for-Longer U.S. Rates
Oil prices declined as some Fed officials remain cautious on the recent easing of inflation, prompting concerns that U.S. interest rates could stay high for longer.The Wall Street Journal - World -
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 -
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 -
Treasury yields dip as Fed’s Waller calls for more time before supporting any rate cut
Rates on U.S. government debt were slightly lower Tuesday morning as investors eyed another batch of comments from Federal Reserve officials.MarketWatch - Business -
Canadian Inflation Expected to Show Further Cooling
Canada’s inflation report for April is likely to reinforce that conditions warrant a quarter-point interest rate cut, Royal Bank of Canada’s Nathan Janzen and Carrie Freestone say.The Wall Street Journal - World -
Japanese Yen Could Rise if Fed Cuts Rates
The Japanese yen could strengthen against the dollar if signs of a weaker U.S. economy allow the Fed to cut interest rates in September and December, Rabobank said.The Wall Street Journal - World - Federal Reserve -
Doctor Who fans knit scarf 'longer than Clifton bridge'
People posted knitted scarves from across the country to add to the project celebrating the Doctor.BBC News - Top stories -
UK set for slower inflation than Eurozone and US
Drop in household energy bills set to push price growth close to Bank of England targetFinancial Times - Business - United Kingdom -
Israel Should Expect Little Change After Iranian President’s Death, Experts Say
Israel, despite being one of Iran’s biggest foes, saw little strategic benefit from the president’s death and was not likely to change its posture toward Tehran, analysts said.The New York Times - World - Israel -
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 -
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 -
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 -
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 -
Natural Gas Up Amid Lower-Than-Expected Inventory Build
Natural gas prices rose for a second consecutive day as U.S. storage grew less than expected.The Wall Street Journal - World -
Glynn's Take: RBA Gov. Bullock Alone in Fight to Tame Inflation
Reserve Bank of Australia Gov. Michele Bullock will have realized this week that she is now on her own when it comes to getting inflation down.The Wall Street Journal - World -
Emma Hayes praises progress after Chelsea win seventh WSL title: 'Women's football now is a serious business'
The final matchday provided the fantasy farewell as Hayes leaves to begin work as the USWNT's new bossCBS Sports - Sports -
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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 -
Fed Governor Waller wants 'several months' of good inflation data before lowering rates
Fed Governor Christopher Waller said Tuesday that he does not think further interest rate increases will be necessary.CNBC - Business - Federal Reserve -
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 -
Trump trusted more than Biden on inflation, a top issue for voters, poll shows
Eighty-five percent of people surveyed said inflation is an important issue, and most trust Trump more than Biden to deal with it.ABC News - Top stories - Joe Biden -
Boxing announcer Dan Hennessey retires after naming wrong winner: 'No longer the world's punching bag'
ESPN's Joe Tessitore described the incident as an “absolute clown show garbage amateur hour."Yahoo Sports - Sports -
Two-thirds of Americans say inflation has made their financial situation worse
Nearly two-thirds of Americans say high inflation has made their financial situation worse, especially families with lower incomes, a new Federal Reserve study found.MarketWatch - Business -
Trump trial takes break for Barron's graduation, Cohen expected back on stand Monday
Donald Trump's criminal trial is taking a break Friday so the former president can attend his son Barron's high school graduation. When the trial resumes Monday, Trump's former personal lawyer Michael Cohen is expected to resume testimony. ...CBS News - Top stories - Donald Trump -
Li Auto says order intake misses expectations as earnings slump
Chinese electric vehicle maker Li Auto said order intake was worse than expected in March as its profit declined in the first quarter.MarketWatch - Business -
House Democrat says cutting federal funds for Harvard 'needs to be on the table'
Rep. Jake Auchincloss (D-Mass.) on Sunday said cutting federal funds for Harvard University and other schools should be an option "on the table" over their handling of campus antisemitism. Auchincloss, who is an alum of Harvard, visited the Ivy ...The Hill - Politics -
After Raisi’s Death, Hard-Liners Are Expected to Keep Grip on Power
The death in a helicopter crash of Iran’s president, Ebrahim Raisi, disrupts a careful effort at a smooth transition to a new supreme leader to replace the aging Ali Khamenei.The New York Times - World -
Trump's defense rests its case, signaling start of trial's final chapter
Former President Donald Trump's defense rested its case at his "hush money" trial, signaling the start of the final chapter of proceedings before the jury begins deliberations.CBS News - Top stories - Donald Trump -
Macy’s stock rises as sales beat views, thanks to Bloomingdale’s and Bluemercury
Macy’s stock rose Tuesday, after the department store chain reported fiscal first-quarter results that fell from a year ago but that beat expectations, and nudged up its full-year outlook.MarketWatch - Business -
Hunt to claim only Tories will cut UK tax burden after the election
Chancellor to attack Labour in keynote speech after canvassing tech bosses’ views on growth measuresFinancial Times - Business - United Kingdom