Inflation rose in line with expectations in January, according to an important gauge the Federal Reserve uses as it deliberates cutting interest rates.The personal consumption expenditures price index excluding food and energy costs increased 0.4% for the month and 2.8% from a year ago, as expected according to the Dow...
Category: Economy
For Black workers, progress in the workplace but still a high hill to climb
Ali and Jamila Wright, co-owners of Brooklyn Tea.Courtesy: Brooklyn TeaLooking at the state of Black employment in America tells a mixed story: Much progress has been made in the age of the Covid-19 pandemic and beyond, but much is left to be done.In the nearly four years that have passed...
Jamie Dimon is ‘cautious about everything’ as he sees risks to a soft landing
JPMorgan Chase CEO Jamie Dimon thinks there's a better-than-even chance that the U.S. is heading for a recession, though he doesn't see systemic issues looming.Speaking Monday from the JPMorgan High Yield and Leveraged Finance Conference in Miami, the head of the largest U.S. bank by assets said markets probably aren't...
Fed’s Waller wants more evidence inflation is cooling before cutting interest rates
Christopher Waller, governor of the US Federal Reserve, during a Fed Listens event in Washington, D.C., on Friday, Sept. 23, 2022.Al Drago | Bloomberg | Getty ImagesFederal Reserve Governor Christopher Waller said Thursday he will need to see more evidence that inflation is cooling before he is willing to support...
Bank of England rate cuts likely later but larger, Goldman Sachs says
Blurred buses pass the Bank of England in the City of London on 7th February 2024 in London, United Kingdom. Mike Kemp | In Pictures | Getty ImagesThe Bank of England is likely to hold interest rates higher for longer before slashing them more sharply than expected in the second half...