As widely expected, the U.S. Federal Reserve’s Open Market Committee cut its key interest rates to their lowest in three years.
Tag: U.S. Federal Reserve
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SEPTEMBER’S INFLATION WAS LOWER THAN EXPECTED
The long-delayed report on September’s U.S. inflation rate showed core prices rose at an annual pace of 2.8 percent, 0.2 percent higher than in August and just below the 2.9 percent annual rate booked the month before.
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UNHAPPY YEAR: MORE THAN A MILLION LAYOFFS IN AMERICA
Through November this year, U.S. companies have announced layoffs of 1.17 million workers, workforce consulting firm Challenger, Gray & Christmas reported.
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LOW-INCOME AMERICANS “SCRAPING FOR CRUMBS” AMID AFFORDABILITY CRISIS
“It feels like everything is closing in around us,” Anissa Camacho, a 26-year-old florist in Bethlehem, Penn., told the Financial Times.
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SEPTEMBER’S JOBS REPORT IS A PLEASANT SURPRISE
The U.S. economy created 119,000 nonfarm jobs in September, according to the Bureau of Labor Statistics’ September jobs report, delayed seven weeks by the government shutdown.
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THREE DANGERS LURK FOR INVESTMENT MARKETS, WSWS WARNS
Three issues pose a growing danger to stock markets where valuations have been inflated by euphoria and lax oversight, the World Socialist Web Site (WSWS) warned in a 12 November analysis.
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IN THE U.S., FORECLOSURES ARE STEADILY INCREASING
In October, properties in some stage of foreclosure rose 3 percent from September to reach 36,766, a 19-percent gain year on year and the eighth consecutive month in which the number increased, according to property data service ATTOM.
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“JOB CREATION IS PRETTY CLOSE TO ZERO,” POWELL SAYS
The U.S. labor market might appear healthy, with a jobless rate near historic lows. However, once statistical overcounting is adjusted out of the data, “job creation is pretty close to zero,” U.S. Federal Reserve chair Jerome Powell said in a 15 November press briefing.
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ECB FREEZES INTEREST RATE AT 2 PERCENT
The European Central Bank (ECB) has decided to hold its policy interest rate at 2 percent where it has rested since June. The bank has taken two percentage points off the rate since June 2024.
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FED CUTS RATE, WILL RE-ENTER THE BOND MARKET
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.