By a vote of 10 to 2, the U.S. Federal Reserve’s Open Market Committee cut its policy interest rate by a quarter point on 29 October, dropping it to 4 percent, its lowest level in three years.
Tag: inflation
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NEW POLL CONFIRMS CONSUMERS’ DARK MOOD
The lingering trade war and government shutdown dragged consumers’ outlook lower last month, The Conference Board’s most recent poll found.
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ZOMBIE CORPORATIONS ARE WALKING THE LAND
The number of “zombie” companies—those whose operating income is too small to cover interest payments on their debts—has reached its highest since early 2022.
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PAY GROWTH SLOWS FOR AMERICAN WORKERS
Aside from a post-COVID spurt, real income for U.S. workers in their prime earning years ages 25 to 54 is growing at its slowest pace since the economy began to recover from the Great Recession more than a decade ago, the JPMorgan Chase Institute reported.
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KERING REPORTS THIRD CONSECUTIVE DROP IN QUARTERLY REVENUE
Kering, the luxury conglomerate that owns Balenciaga, Brioni, and St. Laurent, among others, reported a 10-percent decline in third-quarter revenue to $3.96 billion year on year, marking its third losing quarter in a row.
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CANADIAN BUSINESSES, CONSUMERS BRACE FOR A RECESSION
A third of Canadian businesses are preparing for a recession, according to a new survey by the Bank of Canada (BoC). A separate poll of the country’s households found two-thirds expect a recession during the next 12 months.
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U.S. CATTLE RANCHERS HAVE A BEEF WITH DONALD TRUMP
U.S. beef prices are setting records due to shrinking beef herds amid steady consumer demand.
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INFLATION ROSE AGAIN IN SEPTEMBER BUT LESS THAN EXPECTED
Last month, the U.S. Consumer Price Index rose to 3 percent after ending August at 2.7 percent. Stock markets were buoyed by the news that the number squeaked in below analysts’ consensus forecast of 3.1 percent in a Wall Street Journal survey.
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SPOTLIGHT: BIGS GETTING BIGGER
Private equity firm BlackRock reported assets under its management at the end of the third quarter were valued at $13.46 trillion, compared to $11.48 trillion a year earlier.
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CONSUMERS ARE COOKING MORE AT HOME, BOOSTING GROCERY SALES
Continued inflation and worries about their economic future have more consumers eating at home, a worrying trend for the larger economy but a nice boost for the grocery business.