His comments disappointed the hopes of many investors that the Fed would implement another steep half-point reduction in its key rate before the end of the year.
economy
Posted inBusiness, Nation / World
The price of gold keeps climbing to unprecedented heights. Here’s why
Interest in buying gold often comes at times of uncertainty – with potential concerns around inflation and the strength of the U.S. dollar, for example.
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Posted inBusiness
U.S. job growth comes up short in possible warning sign for Fed
Hiring was weighed down by job losses in the manufacturing, retail trade and information sectors.
Posted inBusiness, Nation / World, News
U.S. economy expands at revised 3% rate on resilient consumer
Growth has cooled so far this year after accelerating the second half of 2023.
Posted inElection 2024, Local & State, News, Politics
Poll: Economy weighing heavily on Maine voters ahead of November election
Roughly half of those surveyed by the University of New Hampshire say their household is worse off financially now than a year ago. But there is a clear partisan divide among respondents.
Posted inBusiness, Local & State, Nation / World
Takeaways from Fed Chair Powell’s speech on interest rate cuts
Investors now expect the Fed to start cutting rates at its next meeting in September.
Posted inBusiness, Election 2024, Nation / World, News
Inflation is falling, but the next president could bring it back
Both Vice President Kamala Harris and former President Donald Trump are pushing economic ideas that – whatever their merits – could raise prices on many goods and services, some economists said.
Posted inBusiness, Nation / World
Weak U.S. hiring slams global markets, with Dow plunging as unemployment climbs
Friday’s report from the Labor Department showed that employers added 35% fewer jobs in July than forecasters had expected – and that unemployment, now up to 4.3%, is the highest since October 2021.
Posted inBusiness, Nation / World, News
Fed poised to keep rates steady. But rate cuts aren’t far off.
Officials are taking their time because they’ve been thwarted by the economy’s unexpected turns before.
Posted inBusiness, Election 2024, Politics
Harris will carry Biden’s economic record into the election. She hopes to turn it into an asset
Former President Donald Trump is campaigning hard on the higher cost of living, having mentioned inflation 14 times in his speech last week at the Republican National Convention.