Federal Reserve boss Jerome Powell’s remarks on the US labour market fuelled expectations for another interest rate cut this month (ROBERTO SCHMIDT) Stocks jumped Wednesday as trade war fears were overshadowed by comments from Federal Reserve boss Jerome Powell that suggested the bank would cut interest rates again this month. After a volatile couple of…
A fresh reading from the Federal Reserve’s preferred inflation gauge showed prices are still sticky, but the report isn’t likely to take the central bank off its course for more rate cuts in 2025 — especially if the job market continues to remain soft. The Personal Consumption Expenditures (PCE) index on a “core” basis, which…
Consumer sentiment slipped more than expected in September as Americans worried over the effects of Trump’s tariffs. University of Michigan’s consumer sentiment survey released Friday showed the headline consumer sentiment index came in at 55.4 for the month, a lower reading than the 58 projected by economists polled by Bloomberg and down from 58.2 in…
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank should keep interest rates steady as the euro zone economy is holding its own in the face of U.S. tariffs and inflation may still come in higher than expected, ECB policymaker Isabel Schnabel told Reuters. The central bank for the 20 countries that…
By Johann M Cherian and Sanchayaita Roy (Reuters) -U.S. stock index futures wavered on Monday, pausing after a recent rally as investor focus shifted to earnings from big box retailers and an annual central bank conference at Jackson Hole, all of which are lined up later this week. Geopolitics was also in the spotlight as…
Opendoor Technologies (OPEN) shares spiked as much as 10% in morning trading after the company announced the departure of its CEO Carrie Wheeler effective immediately. Opendoor said it is searching for a new CEO to lead the ibuyer in its next growth phase, just weeks after the stock skyrocketed in a meme-fueled rally. The board…
(Corrects family name of economist in penultimate paragraph to Muguruma, not Muruguma) By Leika Kihara TOKYO (Reuters) -Pressure is mounting within the Bank of Japan to ditch a vaguely defined gauge of inflation as worries about second-round price effects prompt some board members to call for a more hawkish communication of policy and a clearer…
By Howard Schneider WASHINGTON (Reuters) -The case for a U.S. interest rate cut remains unresolved as Federal Reserve officials head into their policy meeting later this month, with data showing fresh signs of higher inflation and President Donald Trump intensifying his demands for lower borrowing costs. Trump appeared near the point of trying to fire…