- Story Log
User | Time | Action Performed |
---|---|---|
-
Spot gold hits fresh record high at $2,142.79/oz
- Comments
- Subscribe
-
- Older Stories
- From cnbc.com|Mar 6, 2024|1 comment
Federal Reserve Chair Jerome Powell on Wednesday reiterated that he expects interest rates to start coming down this year, but is not ready yet to say when. In prepared remarks ...
- From think.ing.com|Mar 6, 2024
Gold touched an all-time high in yesterday’s session, boosted by expectations for US rate cuts, geopolitical tensions, and China’s economic woes. Gold tends to become more ...
- From federalreserve.gov|Mar 6, 2024|1 comment
Chairman McHenry, Ranking Member Waters, and other members of the Committee, I appreciate the opportunity to present the Federal Reserve's semiannual Monetary Policy Report. The Federal Reserve remains squarely focused on our dual mandate to promote maximum employment and stable prices for the American people. The economy has made considerable progress toward these objectives over the past year. While inflation remains above the Federal Open Market Committee's (FOMC) objective of 2 percent, it has eased substantially, and the slowing in inflation has occurred without a significant increase in unemployment. As labor market tightness has eased and progress on inflation has continued, the risks to achieving our employment and inflation goals have been moving into better balance. Even so, the Committee remains highly attentive to inflation risks and is acutely aware that high inflation imposes significant hardship, especially on those least able to meet the higher costs of essentials, like food, housing, and transportation. The FOMC is strongly committed to returning inflation to its 2 percent objective. Restoring price stability is essential to achieve a sustained period of strong labor market conditions that benefit all. I will review the current economic situation b post: *POWELL: LIKELY APPROPRIATE TO CUT RATES AT SOME POINT THIS YEAR *POWELL REITERATES FED NEEDS MORE CONFIDENCE ON INFLATION TO CUT post: Fed Chair Jay Powell’s testimony to Congress 1) He characterizes last year’s slowdown in core inflation as “notable” and “widespread” 2) The forward guidance around rate cuts is little changed https://t.co/BxIRu0KPkW pic.twitter.com/61huWjQNSJ post: Fed’s Powell: Risks to Both Cutting Rates Too Early and Too Fast as Well as Too Late or Too Little post: FED'S POWELL: WHILE INFLATION STILL ABOVE 2%, IT HAS EASED SUBSTANTIALLY || FED'S POWELL: ECONOMY HAS MADE CONSIDERABLE PROGRESS OVER PAST YEAR ON DUAL MANDATE
-
- Newer Stories
- From bankofcanada.ca|Mar 6, 2024|1 comment
The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is continuing its policy of quantitative tightening. Global economic growth slowed in the fourth quarter. US GDP growth also slowed but remained surprisingly robust and broad-based, with solid contributions from consumption and exports. Euro area economic growth was flat at the end of the year after contracting in the third quarter. Inflation in the United States and the euro area continued to ease. Bond yields have increased since January while corporate credit spreads have narrowed. Equity markets have risen sharply. Global oil prices are slightly higher than what was assumed in the January Monetary Policy Report (MPR). In Canada, the economy grew in the fourth quarter by more than expected, although the pace remained weak and below potential. Real GDP expanded by 1% after contracting 0.5% in the third quarter. Consumption was up a modest 1%, and final domestic demand contracted with a large decline in business investment. A strong increase in exports boosted growth. Employment continues to grow more slowly than the population, and there are now some signs that wage pressures may be easing. Overall, the data point to an economy in modest excess supply. CPI inflation eased to 2.9% in January, as goods price inflation moderated further. Shelter price inflation remains elevated and is the biggest contributor to inflation. Underlying inflationary pressures persist: year-over-year and three-month measures of core inflation are in the 3% to 3.5% range, and the share of CPI components growing above 3% declined but is still above the historical average. The Bank continues to expect inflation to remain close to 3% during the first half of this year before gradually easing post: BOC's Macklem: Economic Growth Remains Weak, Below Potential BOC's Macklem: Labor Market Shifting Toward a "Better Balance" BOC's Macklem: Seeking More Evidence That Wage Growth Moderating BoC’s Macklem: Bank Needs to See Further and Sustained Easing in Core Inflation post: BOC's Macklem: "Still Too Early to Consider Lowering" Interest Rates Bank of Canada Gov. Macklem: Need to Give Higher Rates More Time to Dampen CPI BOC's Macklem: Want to See Further Deceleration in Core CPI in Coming Months
- From bls.gov|Mar 6, 2024
The number of job openings changed little at 8.9 million on the last business day of January, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of ...
- From youtube.com/gopfinancialservices|Mar 6, 2024|1 comment
Fed Chair Jerome Powell delivers semi-annual testimony to the House Financial Services Committee
- Story Stats
- Posted: Mar 6, 2024 9:44am
- Submitted by:Category: High Impact Breaking NewsComments: 0 / Views: 268