speaking at Jackson Hole on August 23, 2024. David A. Grogan | CNBCAtlanta Federal Reserve President Raphael Bostic signaled Wednesday that he is ready to start lowering interest rates even though inflation is still running above the central bank's target.Previously one of the more hawkish policymakers, or in favor of...
Workers assemble second-generation R1 vehicles at electric auto maker Rivian's manufacturing facility in Normal, Illinois, U.S. June 21, 2024. Joel Angel Juarez | ReutersU.S. factories remained in slowdown mode in August, fueling fears about where the economy is headed, according to separate manufacturing gauges.The Institute for Supply Management monthly survey...
Inflation edged higher in July, according to a measure favored by the Federal Reserve as the central bank prepares to enact its first interest rate reduction in more than four years.The Commerce Department reported Friday that the personal consumption expenditures price index rose 0.2% on the month and was...
A woman takes a selfie photo, with the Eiffel Tower in the background, at Surcouf street in Paris, on July 23, 2024, ahead of the Paris 2024 Olympic Games. Mauro Pimentel | Afp | Getty ImagesEuro zone inflation dropped to a three-year low of 2.2% in August, flash figures from...
A customer shops at a supermarket on August 14, 2024 in Arlington, Virginia. Sha Hanting | China News Service | Getty ImagesFederal Reserve officials will get the latest look at their favorite inflation indicator Friday, a data snapshot that could influence the September rate decision even as policymakers appear to...
Federal Reserve officials have made it clear that they are turning their attention from a focus squarely on inflation to at least an equal concern about unemployment, and the latest data shows their concern is well-placed. Various indicators are pointing to a labor market that, if not in outright...
Palmer, Alaska. Meat counter showing a variety of sausage at a Fred Meyer grocery store, a sub of Kroger. Michael Siluk | UCG | Universal Images Group | Getty ImagesAn uptick in sausage demand can offer the latest sign of consumers tightening their belts as they continue grappling with high...
With Federal Reserve Chair Jerome Powell all but confirming that an interest rate cut is imminent, the market's attention Friday quickly turned to when and by how much. Traders continued to price in a greater likelihood that the Fed will kick off what is expected to be a protracted...
Riyadh, Saudi Arabia.Xavierarnau | E+ | Getty ImagesSaudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere.The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets...
An Aldi supermarket in Alhambra, California, US, on Thursday, June 27, 2024. Eric Thayer | Bloomberg | Getty ImagesContrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession, and the predicted upcoming U.S. Federal Reserve rate cuts will not...