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Fed’s Musalem says on CNBC he won’t prejudge rate call view for September FOMC
9+ hour, 33+ min ago (254+ words) Aug 20 (Reuters) – Federal Reserve Bank of St. Louis President Alberto Musalem said on Thursday that while he is keeping an open mind about what sort of policy action he will recommend at next month’s central bank rate-setting meeting, he implied…...
From euphoria to despair, Korea reckons with stock mania’s emotional toll
3+ hour, 7+ min ago (1065+ words) By Cynthia Kim, Jihoon Lee and Yena Park The 30% decline in the KOSPI benchmark since its June 19 peak has hurt President Lee Jae Myung’s government politically and turned the spotlight on an economic system that drove retail investors into poorly…...
UK consumer confidence jumps to two-year high, GfK says
5+ hour, 38+ min ago (197+ words) Aug 21 (Reuters) – British consumer morale jumped to a two-year high this month as households became more confident about making major purchases, a survey showed on Friday that added to a run of unexpectedly strong economic data. GfK’s Consumer Confidence Index…...
Japan July core CPI rises 1.8% yr/yr
5+ hour, 3+ min ago (77+ words) (Corrects paragraph 3 percentage rise to 1.9%, not 1.8%) TOKYO, Aug 21 (Reuters) – – Japan’s core consumer prices rose 1.8% in July from a year earlier, government data showed on Friday. The core consumer price index, which includes oil products but excludes fresh food prices, compared…...
UK statistics office revises up 2023 and 2024 growth estimates
15+ hour, 4+ min ago (291+ words) LONDON, Aug 20 (Reuters) – Britain’s statistics office said on Thursday that the economy grew slightly faster in 2023 and 2024 than previously thought, making economic output about 0.5% higher in 2024 than it had most recently estimated. The revisions are part of an annual review…...
Brazil to keep fiscal framework, spending restraint under new Lula term, minister says
15+ hour, 30+ min ago (246+ words) SAO PAULO, Aug 20 (Reuters) – Brazil’s Finance Minister Dario Durigan said on Thursday that, if President Luiz Inacio Lula da Silva’s administration wins another term in the October election, the country will maintain its fiscal framework through spending controls and revenue…...
Fed’s Daly tells Bloomberg she’s focused on mandates amid Treasury actions
15+ hour, 9+ min ago (512+ words) Aug 20 (Reuters) – Federal Reserve Bank of San Francisco President Mary Daly said on Thursday she’s not ready to judge how the Treasury Department’s moves to manage debt issuance will affect the central bank’s work, as she flagged the importance of…...
German producer prices rise at fastest pace in over three years in July
22+ hour, 1+ min ago (220+ words) BERLIN, Aug 20 (Reuters) – German producer prices rose at their fastest pace in over three years in July, driven by higher costs for intermediate goods and energy, the federal statistics office said, adding to signs of renewed inflationary pressure in Europe’s…...
AI productivity gains may not curb inflation, IMF’s Tenreyro warns
16+ hour, 44+ min ago (331+ words) LONDON, Aug 20 (Reuters) – Even if artificial intelligence boosts productivity, it may not lower inflation, the International Monetary Fund’s new chief economist Silvana Tenreyro warned in research published by Bank of England staff on Thursday. At first glance, higher economic productivity…...
Treasury’s upsized buybacks may complicate Fed’s monetary policy work | The Mighty 790 KFGO | KFGO
23+ hour, 41+ min ago (620+ words) By Michael S. Derby and Ann Saphir Aug 20 (Reuters) – Federal Reserve Chairman Kevin Warsh has promised that the U.S. central bank will deliver price stability, but Treasury Secretary Scott Bessent’s decision on Wednesday to double buybacks of longer-dated U.S. debt…...