WASHINGTON — The U.S. labor market is still reliably cranking out jobs each month, enough to give Americans the confidence and paychecks to keep spending and sustaining the economy. Yet the pace of hiring has lost momentum over the past several months, evidence that employers have become more cautious. September likely brought more of the…
Photo: Michael M. Santiago (Getty Images) In This Story The Dow and S&P were lower Wednesday morning as escalating tensions between Israel and Iran pushed crude oil prices higher. West Texas Intermediate and Brent surged nearly 3% in the morning trading. Buy Costco and American Express stock as inflation cools, analyst says The continued rise…
Workers at ports on the East and Gulf Coasts went on strike Tuesday following a breakdown in negotiations between the union representing them, the International Longshoremen’s Association (ILA), and the organization of international shipping companies that employ them. Approximately 45,000 workers walked off the job at 12:01 am, making it the most significant strike the…
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…
The International Brotherhood of Teamsters, one of the US’s largest and best-known labor unions, has declined to endorse a candidate for president, citing major political divides among its membership, as well as dissatisfaction with each major candidate’s stances on key union priorities. In a tight presidential race where the vast majority of labor unions have…
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Former New York Federal Reserve President William Dudley said he sees scope for a half-point rate cut at next week’s meeting. “I think there’s a strong case for 50,” Dudley said on Friday at a forum organized by The Bretton Woods Committee in Singapore. Dudley left the New York Fed in 2018 and is now…