At a 30 April press briefing, U.S. Federal Reserve chair Jerome Powell indicated a belief that inflation will continue to ebb this year, allowing the central bank to pare back its interest rates.
Tag: U.S. Federal Reserve
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LABOR MARKET COOLS OFF IN APRIL
The U.S. economy added 175,000 jobs last month, compared to March’s 300,000 and analysts’ forecast of 241,000, notching the lowest monthly gain since last October.
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PENSION FUNDS DUMP STOCKS
Corporate pension funds are moving money from stocks to bonds, and government pensions are trading a share of their equities for alternatives, The Wall Street Journal reported.
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IN 22 STATES, YOU GOT TO BE RICH TO BUY A HOUSE
In 22 states and Washington D.C., potential home buyers need a six-figure income to afford a median-priced home, Bankrate.com has calculated.
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TOP TREND 2024, A GOLDEN YEAR FOR GOLD: GOLD SETS ANOTHER RECORD
Gold’s price rose another 1.61 percent on 5 April to trade at $2,325.70, giving a 12.77-percent gain so far this year.
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SWIFT WILL LAUNCH CENTRAL BANK DIGITAL CURRENCY PLATFORM
SWIFT, the messaging network that connects banks worldwide, is developing a system to connect the international financial system to the array of central banks’ digital currencies (CBDCs) expected to come into use over the next few years.
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U.S. CONSUMERS CONTINUE TO SLOW THEIR SPENDING
Inflated prices, emptied savings accounts, and high credit card debt seem to be continuing to persuade U.S. shoppers to curb their free-spending ways.
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CORPORATE DEFAULTS AT HIGHEST SINCE GREAT RECESSION, S&P SAYS
So far this year, 29 corporations have defaulted on their debts, more than in any similar period since 2009 during the Great Recession when 36 corporations failed to pay. Inflation, high interest rates, rising wages, and sluggish consumer demand are to blame, according to S&P.
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JPMORGAN FINED ALMOST $350 MILLION FOR COMPLIANCE FAILURE
Yet again, JPMorgan Chase, America’s biggest bank by assets, has been charged by federal regulators with failing to abide by rules governing oversight of billions of dollars’ worth of trades the bank and its clients have made.
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U.S. INFLATION RAN AT 3.2 PERCENT IN FEBRUARY
In February, consumers paid 3.2 percent more for goods and services than they did a year earlier and 0.4 percent more than in December, the U.S. Bureau of Labor Statistics (BLS) reported last week.