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  • Aug 08, 2024

Fed Seen Rejecting Calls for Jumbo Rate Cut in Economist Survey

(Bloomberg) -- A large majority of economists surveyed see only a quarter-point decrease in interest rates coming in September — a finding that’s at odds with calls from some large Wall Street banks for a jumbo cut at the next meeting.Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureAfrica’s Richest City Needs $12 Billion to Fix InfrastructureNYC Subway Riders See ‘Exceptionally High’ Air PollutionNew York City Paid $2 Million for Empty Hotel Rooms Meant f

  • Aug 08, 2024

Stocks Rebound as Jobs Data Calms Market Jitters: Markets Wrap

(Bloomberg) -- Asian equities were poised for gains on Friday after signs of resilience in the labor market lifted US stocks.Most Read from BloombergAfrica’s Richest City Needs $12 Billion to Fix InfrastructureHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureNYC Subway Riders See ‘Exceptionally High’ Air PollutionNew York City Paid $2 Million for Empty Hotel Rooms Meant for MigrantsNew York City’s Outdoor Dining Sheds Will Start DisappearingEquity futures for Japan, Australia and

  • Aug 08, 2024

Colombian Inflation Slows More Than Forecast to Least Since 2021

(Bloomberg) -- Colombian inflation slowed more than forecast to its lowest level since 2021, bolstering President Gustavo Petro’s calls for faster monetary easing. Most Read from BloombergAfrica’s Richest City Needs $12 Billion to Fix InfrastructureHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureNYC Subway Riders See ‘Exceptionally High’ Air PollutionNew York City Paid $2 Million for Empty Hotel Rooms Meant for MigrantsNew York City’s Outdoor Dining Sheds Will Start Disappearing

  • Aug 08, 2024

Matt Gaetz Who Proposed Bill To Collect Federal Income Taxes In Bitcoin Now Wants Blinken To Downgrade US Travel Advisory To El Salvador

The Congressional El Salvador Caucus urged the Joe Biden administration to ease El Salvador's travel advisory to Level 1 from the current Level 3. What Happened: Led by Rep. Matt Gaetz (R-Fla.) and Rep. Vicente Gonzalez (D-Texas), the bipartisan caucus sent a letter to Secretary of State Anthony Blinken, requesting the government to ease the advisory to the lowest Level 1, which corresponds to "Exercise Normal Precautions." Don't Miss: According to Cathie Wood, holding 6 Ethereum (ETH) could mak

  • Aug 08, 2024

Matt Gaetz Who Proposed Bill To Collect Federal Income Taxes In Bitcoin Now Wants Blinken To Downgrade US Travel Advisory To El Salvador

The Congressional El Salvador Caucus urged the Joe Biden administration to ease El Salvador's travel advisory to Level 1 from the current Level 3. What Happened: Led by Rep. Matt Gaetz (R-Fla.) and Rep. Vicente Gonzalez (D-Texas), the bipartisan caucus sent a letter to Secretary of State Anthony Blinken, requesting the government to ease the advisory to the lowest Level 1, which corresponds to "Exercise Normal Precautions." Don't Miss: According to Cathie Wood, holding 6 Ethereum (ETH) could mak

  • Aug 08, 2024

Fed's Schmid says he's more confident inflation heading to 2% goal

"Given the multi-decade shock to inflation that we have experienced, we should be looking for the worst in the data rather than the best," Schmid said, noting that prices can be volatile and the Fed needs "longer periods" to be sure of inflation's path. "However, if inflation continues to come in low, my confidence will grow that we are on track to meet the price stability part of our mandate, and it will be appropriate to adjust the stance of policy," he said in remarks prepared for delivery to the Kansas Bankers Association's annual meeting in Colorado Springs, Colorado. With inflation at around 2.5% and the Fed's goal at 2%, he said, the Fed is "close, but we are still not quite there."

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