Fed’s Raphael Bostic doesn’t foresee rate cuts coming until ‘late 2024’
Atlanta Federal Reserve President Raphael Bostic on Friday said he doesn’t envision interest rate cuts happening until well into 2024. Though he cited progress on inflation and a slowing economy, the central bank official told CNBC that there’s still a lot of work to be done before the Fed reaches its inflation goal of 2% […]
Hispanic unemployment rate declines in September
The U.S. unemployment rate held steady in September but ticked down among Hispanic workers, according to data released Friday by the U.S. Department of Labor. September’s nonfarm payrolls report showed a blockbuster month of higher numbers across the board. The economy added 336,000 jobs last month, blowing past the 170,000 estimate from economists polled by […]
Fed interest rate moves affected by government shutdown
An eagle sculpture stands on the facade of the Marriner S. Eccles Federal Reserve building in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images A looming government shutdown could prevent the Federal Reserve from raising rates in November, but not for the reason you might think, according to Bank of America. Not only would […]
Black unemployment rate declines in August
Pixelseffect | E+ | Getty Images The unemployment rate for Black workers slipped in August, bucking the broader trend of a higher overall jobless rate. The overall unemployment rate ticked up to 3.8% last month, the highest since February 2022. It came as the labor force participation rate — a measure of the number of […]
Did Argentina’s unemployment rate fall last night?
In recent days, there’s been a twitter debate about whether changes in employment drive the inflation process: I thought of this debate when reading about the sudden rise in the Argentine price level. Here’s Bloomberg: At shops all across Argentina, from cafes to kitchenware vendors, scores of small-business owners woke up Monday to find […]
Black unemployment rate ticks lower in July as jobs market remains tight
Workers install solar panels during the completion phase of a 4-acre solar rooftop atop AltaSea’s research and development facility at the Port of Los Angeles, in the San Pedro neighborhood, on April 21, 2023 in Los Angeles, California. Mario Tama | Getty Images The unemployment rate for Black workers fell slightly in July as the […]
Will Lower Inflation Halt Rate Hikes?
The Federal Reserve raised its federal funds rate target range to 5.25 to 5.50 percent on Wednesday. In June, the median member of the rate-setting committee projected the federal funds rate would climb to 5.6 percent this year. That suggests another rate hike is on the horizon. The Personal Consumption Expenditures Price Index (PCEPI), which […]
Yearly rate increase is lowest since March 2021
Inflation showed further signs of cooling in June, according to a gauge released Friday that the Federal Reserve follows closely. The personal consumption expenditures price index excluding food and energy increased just 0.2% from the previous month, in line with the Dow Jones estimate, the Commerce Department said. related investing news So-called core PCE rose […]
UK inflation rate slides to 7.9% in June, below expectations
Skyline view of the City of London financial district. Mike Kemp | In Pictures | Getty Images LONDON — U.K. inflation cooled significantly in June, coming in below consensus expectations at 7.9% annually. Economists polled by Reuters had projected an annual rise in the headline consumer price index of 8.2%, following May’s hotter-than-expected 8.7% reading, […]
Top Fed official calls for two more interest rate increases
The Federal Reserve will need to implement two more quarter-point rate rises this year to bring inflation under control, a top official at the US central bank said on Thursday. In an intervention that pushed back against market pricing suggesting the Fed will conclude its monetary tightening after just one more increase, Christopher Waller backed […]
