The Federal Reserve’s interest rate decisions can influence the trajectory of the U.S. economy. “The U.S. economy’s stature is one of the key drivers of the importance of the Fed,” said Gregory Daco, chief economist at EY-Parthenon. “The [U.S.] economy remains one of the largest economies in the world, and certainly of late, one of … Read more
WASHINGTON – The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown in the labor market. With both the jobs picture and inflation softening, the central bank’s Federal Open Market … Read more
The Federal Reserve is set to reduce U.S. short-term borrowing costs on Wednesday, marking a significant shift after more than two years of battling high inflation. The central bank is expected to lower its key rate by either a quarter-point to 5.00%-5.25% or a half-point to 4.75%-5.00%, following a series of hikes that totaled 5.25 … Read more
LONDON — U.K. inflation held steady during the month of August, data from the Office for National Statistics showed Wednesday, and matched analyst expectations. The headline consumer price index (CPI) was in line with the previous 2.2% reading in July and also matched a prediction from a Reuters poll of economists. Headline CPI had come in at … Read more
Construction work is done around the Federal Reserve building on September 17, 2024 in Washington, DC. Anna Moneymaker | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they … Read more
Federal Reserve Chairman Jerome Powell takes a question from a reporter during a news conference following a Federal Open Market Committee meeting at the William McChesney Martin Jr. Federal Reserve Board Building on July 31, 2024 in Washington, DC. Andrew Harnik | Getty Images For all the hype that goes into them, Federal Reserve meetings … Read more
If Robert Kaplan still had a say in the matter, he’d be pushing for a half percentage point interest rate reduction at this week’s Federal Reserve meeting. The former Dallas Fed president told CNBC on Tuesday that making the bolder move of 50 basis points would better position policymakers heading into the latter part of … Read more
Asian stocks were steady early Tuesday following a mixed session on Wall Street where traders boosted bets the Federal Reserve will this week deliver a half-point rate cut. Equities in Sydney and Tokyo fluctuated. Futures for US stocks were little changed after the S&P 500 closed 0.1% higher and the Nasdaq 100 slid 0.5%, with … Read more
Bank of Japan Governor Kazuo Ueda attends a session in the financial affairs committee at the lower house of parliament on Aug. 23, 2024 in Tokyo. Tomohiro Ohsumi | Getty Images News | Getty Images Economists, FX strategists and Japan-focused fund managers are split over the timing of the Bank of Japan’s next interest rate … Read more
People walk along the Huguosi street, Xicheng district, a dedicated food street in Beijing on August 23, 2024. Adek Berry | AFP | Getty Images SINGAPORE — Following a slew of data released over the weekend from China that painted a fairly bleak outlook for its economy, analysts have tapered their expectations for the country’s … Read more
