U.S. fiscal policy is ‘on an unsustainable path,’ says Powell The rising U.S. deficit and overall fiscal policy remain headwinds to the economy, Federal Reserve Chair Powell said Thursday. “The federal government’s fiscal path, fiscal policy, is on an unsustainable path,” Powell said. “The level of our debt relative to the economy is not unsuitable,…
Check out the companies making headlines in midday trading: Dutch Bros — The stock popped more than 32% following the coffee chain’s better-than-expected third-quarter results. Dutch Bros earned 16 cents per share on revenue of $338 million for the period, while analysts surveyed by LSEG had penciled in 12 cents in earnings per share and…
WASHINGTON — The Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to right-size monetary policy. In a follow-up to September’s big half percentage point reduction, the Federal Open Market Committee lowered its benchmark overnight borrowing rate by a quarter percentage point,…
Federal Reserve Chair Jerome Powell speaks during a news conference following the Nov. 6-7, 2024, Federal Open Market Committee meeting at William McChesney Martin Jr. Federal Reserve Board Building in Washington, D.C., on Nov. 7, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Expectations for a December interest rate cut remained strong after the Federal…
Check out the companies making headlines before the stock market opens. Crypto stocks – Shares of Coinbase surged 12% as investors cheered the prospect of a more supportive regulatory environment for cryptocurrency businesses under a second Donald Trump presidency. MicroStrategy , which trades as a high-beta play on the bitcoin price, gained 11% as bitcoin…