Beijing has revealed its largest stimulus package since the pandemic in a bid to shake the world’s second-largest economy out of its current malaise. The measures, announced Tuesday by the People’s Bank of China (PBOC), include lowering the reserve requirement ratio (RRR)—the amount of cash the country’s banks must hold in reserve — effectively making…
The Federal Reserve’s preferred price metric and a snapshot of consumer demand are seen corroborating both the central bank’s aggressive interest-rate cut and Chair Jerome Powell’s view that the economy remains strong. Economists see the personal consumption expenditures price index rising just 0.1% in August for the second time in three months. The inflation gauge…
The Federal Reserve’s decision to cut interest rates this week was a surprise to … well, nobody. The US central bank, like many of its peers, had telegraphed the decision for weeks as it made inroads containing inflation and now seeks to prevent a wider slowdown in the economy. Even for an institution marked by…
WASHINGTON, DC – SEPTEMBER 18: Federal Reserve Chairman Jerome Powell speaks during a news … [+] conference following the September meeting of the Federal Open Market Committee on September 18, 2024 in Washington, DC. (Photo by Anna Moneymaker/Getty Images) Getty Images The focus for weeks on the Federal Reserve’s rate cut today has been on…
Back in January, Premier Li Qiang trumpeted China’s success in exceeding its 2023 growth goal without resorting to “massive stimulus.” Repeating the same feat this year now looks less likely. Pressure is growing on Chinese authorities to quickly ramp up fiscal and monetary stimulus to hit this year’s growth target of around 5%. Data published…