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  • Aug 22, 2024

Crew Evacuated From Houthi-Stricken Oil Tanker in Red Sea

(Bloomberg) -- The crew of a ship that suffered several attacks in the Red Sea has been evacuated with naval support. Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CityUK Transport Minister Clears Path for More 20mph Speed ZonesWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkThe Serious Work That Free Play Can DoDelta Tankers, which operates the Sounion, said Thursday that plans are now in place to move the vessel to a safer destinat

  • Aug 22, 2024

Fed’s Schmid says he wants to see more data before rate cut

(Bloomberg) -- Federal Reserve Bank of Kansas City President Jeffrey Schmid said he wants to see more economic data before supporting any decision to begin reducing interest rates. Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CityUK Transport Minister Clears Path for More 20mph Speed ZonesWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkThe Serious Work That Free Play Can DoSchmid, speaking with Michael McKee in a Bloomberg TV interv

  • Aug 22, 2024

Fed's Schmid signals open mind on September rate cut

"We've got some data sets to come in before September," Schmid said in an interview with broadcaster CNBC at the start of the annual global central bankers' conference hosted by the regional Fed bank in Jackson Hole, Wyoming, in reference to the Fed's next policy meeting on Sept. 17-18. "It bears looking harder at it," he said of the unemployment rate. The U.S. central bank is widely expected to begin reducing its benchmark policy rate at its upcoming meeting, with most Fed officials buoyed by encouraging inflation data and increasingly anxious about the health of the job market.

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