Rate Cuts Blames Fed
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The WSJ Dollar Index Falls 0.1% to 99.27
The WSJ Dollar Index was down 0.1% to 99.27 — and is down for five of the past seven trading days.The Wall Street Journal - World -
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 end lower for first time in four sessions amid dearth of U.S. data
Rates on U.S. government debt finished slightly lower in rangebound trading on Tuesday as investors eyed another batch of comments from Federal Reserve officials.MarketWatch - Business -
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 -
Fed governor: Further rate increases 'probably unnecessary'
Christopher Waller, a member of the Federal Reserve Board of Governors, said that further interest rate increases will be “probably unnecessary,” pointing to data showing that inflation is not “accelerating.” “Central bankers should never say ...The Hill - Politics - 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 -
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 -
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 -
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 -
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 -
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 -
The Fed's Miracle Is Finally Back on the Table
Inflation is lower after months of hot readings, and investors love it.Inc. - Business -
Troops cleared of blame over Falklands ship bombing
Secret files finally clear the Welsh Guards after 48 crew were killed in the bombing of Sir Galahad.BBC News - Top stories -
Fetterman mocks Menendez 'blaming your wife' strategy
Sen. John Fetterman (D-Penn.) mocked Sen. Bob Menendez on Sunday for what he described as the New Jersey Democrat's "blaming your wife" legal strategy in his bribery trial that kicked off in Manhattan last week. Fetterman responded to the opening ...The Hill - Politics -
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Russian Disinfo Campaign Blames Ukraine for Shooting of Slovakia’s Prime Minister
A seemingly coordinated campaign playing out across X, Telegram, and state-run media blames Ukraine for the attempted assassination of Robert Fico—something for which there is no evidence.Wired - Tech - Ukraine -
Debate commission co-chair blames Dunn, Klain for Biden campaign decision
The co-chair of the Commission on Presidential Debates blamed two top Biden advisers for his campaign’s decision to forgo the traditional debates and have two earlier battles with former President Trump instead. Anita Dunn, a Biden administration ...The Hill - Politics - Joe Biden -
Alito and Menendez Employ an Age-Old Political Tactic: Blaming Your Spouse
When Justice Samuel Alito and Senator Bob Menendez landed in hot water, they looked for a scapegoat close to home. Inside their homes, in fact.The New York Times - Top stories -
Migraines are getting worse — and climate change could be partly to blame
New research suggests that climate change, which causes more erratic and severe weather conditions, may be a trigger for more intense migraines.NBC News - Top stories - Climate -
Trump hits Biden for blaming 'disaster' inflation on shrinking size of Snickers Bars
Former President Trump criticized President Biden's handling of inflation in a late-night social media rant, joking that he is blaming his "economic disaster" on the shrinking size of Snickers Bars. In back-to-back Truth Social posts late Friday ...The Hill - Politics - Joe Biden -
Europe Sees Signs of Russian Sabotage but Hesitates to Blame Kremlin
Governments have warned of acute threats but often stopped short of accusing Moscow over a lack of evidence and concern about spreading panic at home.The Wall Street Journal - World - Russia -
Justice Alito’s Blame-the-Wife Defense Never Goes Out of Style
In sickness and health, in public scandal and with convenient finger-pointing.The New York Times - Top stories -
Senators place blame for sky-high drug prices on abuse of the patent system
The drug industry’s top lobbying group faced fierce questioning at a Senate Judiciary Committee hearing on Tuesday that explored whether abuse of the patent system is responsible for keeping prescription drug prices sky-high in the United States.NBC News - Top stories -
Unions bash Trump tax cuts
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Labor unions have had enough of Trump’s tax cuts Top U.S. labor unions are calling for the repeal of former President Trump's ...The Hill - Politics - Donald Trump -
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 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 -
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 -
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 -
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 settle lower as traders fret over the outlook for demand
Oil futures finished lower Tuesday to notch back-to-back session losses, with traders concerned about the outlook for crude demand as the Federal Reserve maintains higher interest rates.MarketWatch - Business -
Rent Is Harder to Handle and Inflation Is a Burden, a Fed Financial Survey Finds
The Federal Reserve’s 2023 survey on household financial well-being found Americans excelling in the job market but struggling with prices.The New York Times - Business