Fed Cuts Interest Rates by Half Point Amid Growing Concerns …
WEB1 day ago · On Wednesday, the central bank slashed the federal funds rate by 50 basis points, bringing it to a range of 4.75% to 5%. This aggressive move marks the beginning of what could be a series of rate cuts aimed at stabilizing the economy amid growing concerns about slowing job growth and softening inflation. The rate cut, which impacts short-term ...
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WEBChina’s Inflation Rises on Weather-Driven Food Costs, But Deflation Woes Persist as Producer Prices Slide. According to data released by the National Bureau of Statistics (NBS) on Monday, the consumer price index (CPI) increased by 0.6% year-on-year, slightly up from a 0.5% rise in July but below the 0.7% forecasted by economists.
Bank of England Holds Rates at 5%, Signals Cautious Path Amid …
WEB19 hours ago · The Bank of England has held interest rates at 5% following its September meeting, maintaining a cautious stance despite global trends towards lower rates. The Monetary Policy Committee (MPC) voted 8-1 in favor of keeping the rate unchanged, with only Swati Dhingra pushing for a quarter-point cut. This decision aligns with expectations from many analysts who anticipated that it would be ...
TikTok’s Future on the Line: U.S. Court Weighs Nationwide Ban …
WEB3 days ago · TikTok, the wildly popular video-sharing app, found itself at the center of a high-stakes legal battle in Washington, D.C., on Monday, as the company argued against a looming nationwide ban that could put it out of business in the United States by January. The hearing before the U.S. Court of ...
Dollar Falters Ahead of Fed Rate Cut, Eyes on Potential 50 Basis …
WEB3 days ago · The U.S. dollar has been under increasing pressure as markets anticipate a significant shift in monetary policy from the Federal Reserve. As the Fed's decision on a potential rate cut looms, the dollar traded near its lowest levels of the year on Tuesday, with investors betting heavily on an aggressive easing cycle that could begin with a substantial 50 basis point reduction.
Goldman Sachs and Citigroup Slash China's 2024 Growth Forecast …
WEB3 days ago · Goldman Sachs and Citigroup have both revised their projections for China's economic growth in 2024 downward to 4.7%, signaling increasing concern about the country's economic trajectory. The adjustments come in the wake of a slowdown in China's industrial output, which reached a five-month low in August, intensifying worries about the world's second-largest economy's ability to rebound.
Oil Prices Drop Below $80 Amid China Slowdown and ... - Business …
WEBAug 17, 2024 · Oil prices experienced a significant drop on Friday, falling more than $2 per barrel, with Brent crude dipping below the $80 mark. This decline has set the stage for a weekly loss, driven primarily by renewed concerns over China's economic health, which have overshadowed lingering geopolitical risks in the Middle East.
U.S. Faces Largest Summer COVID Surge in Two Years: Health …
WEBAug 17, 2024 · As summer draws to a close, the United States is experiencing its largest surge in COVID-19 cases in at least two years, signaling the need for renewed vigilance and precaution. Data from the Centers for Disease Control and Prevention (CDC) show a significant rise in viral activity, with levels in wastewater reaching the highest point for a summer surge since July 2022.
Bitcoin Tops $61K with Eyes on Federal Reserve’s Upcoming Rate …
WEBAug 21, 2024 · Bitcoin prices climbed above $61,000 in early European trading on Tuesday, marking a significant recovery after two consecutive sessions of losses. Despite this rise, the market remains volatile, with the Bitcoin Volatility …
U.S. Inflation Eases to 2.9% in July, Lowest Since 2021 as Fed ...
WEBAug 15, 2024 · This increase brings the annual inflation rate down to 2.9%, the lowest since March 2021, and slightly below the 3% rate recorded in June. The report met economists' expectations, with core CPI-which excludes the more volatile categories of food and energy-also rising by 0.2% month-over-month, putting the annual core inflation rate at 3.2%.
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