Gold prices were listless on Thursday after a recent rally lost steam to dip more than 1% in the previous session, as traders started pulling back their expectations of rate cuts by the U.S. Federal Reserve this year. FUNDAMENTALS * Spot gold held its ground at $2,377.48 per ounce, as of 0113 GMT. Bullion hit … Read more
New York: Federal Reserve officials earlier this month coalesced around a desire to hold interest rates higher for longer and “many” questioned whether policy was restrictive enough to bring inflation down to their target. Minutes from the two-day Federal Open Market Committee gathering ending May 1 showed that, while participants assessed that policy was “well … Read more
U.S. Federal Reserve Chair Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., May 1, 2024. Kevin Lamarque | Reuters Federal Reserve officials grew more concerned at their most recent meeting about inflation, with members indicating that they lacked the confidence … Read more
The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch | Bloomberg | Getty Images Federal Reserve officials appear to have “no idea” what is happening when it comes to the inflation picture in the U.S., according to Julian Howard, lead investment director of … Read more
Federal Reserve Governor Christopher Waller, citing a string of data showing that inflation appears to be easing, said Tuesday that he does not think further interest rate increases will be necessary. However, the policymaker added he will need some convincing before he backs cuts anytime soon. “Central bankers should never say never, but the data … Read more
The International Monetary Fund warned Britain’s government on Tuesday that it was on course to miss its debt target and should not cut taxes before an election later this year, with tax rises likely to be needed in future. The IMF increased its projection for British economic growth in 2024 to 0.7% from an April … Read more
Mumbai: The Shapoorji Pallonji Group (SP Group) is offering ₹400 crore more to the bondholders of group company Goswami Infratech, in exchange for their consent to extend the deadline to meet certain covenants on ₹14,300 crore of borrowings. The company, which has to pay ₹1,400 crore in interest this month, has sought a four-month window … Read more
Higher-income consumers may be creating a frothy situation at Walmart. Even though affluent shoppers helped drive the retailer’s latest beat on quarterly results, former Walmart U.S. CEO Bill Simon warns they’ll be hard to keep. “The Walmart experience is better than it used to be, but it’s still not a premium experience. Walmart is built … Read more
Simonskafar | E+ | Getty Images Incentives are coming back to the auto market, but high interest rates are weakening those deals for car shoppers. “Pre-pandemic, people would see a 0% financing for 60 months and think, ‘no big deal,’ because it was available everywhere,” said Jessica Caldwell, an insights analyst at Edmunds, an auto … Read more
Traders work on the floor during morning trading at the New York Stock Exchange on May 14, 2024. Spencer Platt | Getty Images Traders appear increasingly confident that the U.S. Federal Reserve could start cutting interest rates as early as September, after inflation data cooled more than expected in April. Some analysts, however, are far … Read more
