News
How many rate cuts? Iran war upends Federal Reserve’s next steps
6+ hour, 17+ min ago (539+ words) For now, the clearest way forward for the 12-member rate-setting committee, led by Chair Jerome Powell, is to stand pat and wait to see which way the economy goes. The Fed is expected to keep rates unchanged Wednesday, and may…...
US job openings rise to a better-than-expected 7 million despite sluggish labor market
4+ day, 10+ hour ago (198+ words) The 6.95 million job postings in January were up from 6.55 million in December, the Labor Department said Friday. That was higher than economists had forecast. Layoffs fell slightly and the number of Americans quitting their jobs " a sign of confidence in…...
Iran war casts a pall over UK economic update as stocks tank and oil and gas prices surge
1+ week, 6+ day ago (399+ words) Unveiling the latest U.K. economic forecasts compiled by the independent Office for Budget Responsibility, Reeves insisted her policies since the Labour Party returned to power in the 2024 election are bearing fruit. Though economic growth this year is expected to be lower…...
Federal Reserve Chair Powell says DOJ has subpoenaed central bank, threatens criminal indictment
2+ mon, 5+ day ago (234+ words) In a video statement, Powell said the threat of criminal charges are "pretexts" to undermine the Fed's independence when it comes to setting interest rates. "This is about whether the Fed will be able to continue to set interest rates…...
Asian shares are mixed after China-US talks end without a trade deal
7+ mon, 2+ week ago (628+ words) by: ELAINE KURTENBACH, Associated Press Beijing's top trade official said China and the United States agreed during two days of talks in Stockholm, Sweden, to work on extending an Aug. 12 deadline for imposing higher tariffs on each other. The U.S. side…...
The number of Americans filing for jobless claims last week remains at the highest level in 8 months
9+ mon, 5+ day ago (639+ words) by: MATT OTT, Associated Press New applications for jobless benefits numbered 248,000 for the week ending June 7, the Labor Department said Thursday. Analysts had forecast 244,000 new applications. A week ago, there were 248,000 jobless claim applications, which was the most since early…...
US producer prices rise modest 2.6% in May with inflationary pressures still mild
9+ mon, 5+ day ago (353+ words) by: PAUL WISEMAN, Associated Press The Labor Department reported Thursday that its producer price index " which measures inflation before it its consumers " rose 2.6% in May 2024. Producer prices rose 0.1% from April to May after dropping 0.2% the month before. Excluding volatile food…...