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New record high in gold - USD 2,310.26/oz
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US non-farm payrolls rose 303k in March versus the 214k consensus while there were 22k of upward revisions to the past two months of data. 303k was higher than anyone was ...
post: FED'S BARKIN: THAT'S QUITE A STRONG JOBS REPORT. post: FED'S BARKIN: REDUCTION IN INFLATION HAS BEEN AN UNBALANCED MIX post: FED'S BARKIN: PEOPLE ARE RELUCTANT TO LAY PEOPLE OFF
Goldman Sachs Chief Economist Jan Hatzius on Friday said that he still expects the Federal Reserve to implement three interest rate cuts this year, adding that he would be “very ...
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post: Crikey ... 5.5 Magnitude earthquake strikes New York & New Jersey post: *TREMORS FELT THROUGHOUT NEW YORK CITY REGION; BUILDINGS SHAKE post: Earthquake near New York City has a preliminary magnitude of 4.8, epicenter near Lebanon, NJ - USGS pic.twitter.com/YjoA2bTSCu Earthquake felt in New York City, East Coast An earthquake shook the densely populated New York City metropolitan area Friday morning, the U.S. Geological Survey said, with residents reporting they felt rumbling across the Eastern Seaboard. The agency reported a quake with a preliminary magnitude of 4.7, centered near Lebanon, New Jersey. The Fire Department of New York said there were no initial reports of damage. In midtown Manhattan, the usual cacophony of traffic grew louder as motorists blared their horns on momentarily shuddering streets. Some Brooklyn residents heard a booming sound and their building shaking. In an apartment house in Manhattan’s East Village, a resident from more earthquake-prone California calmed nervous neighbors. People in Baltimore, Philadelphia and other areas also reported feeling the ground shake. New York Gov. Kathy Hochul posted on X that her team was assessing impacts and any possible damage.
Physical gold demand in India remained tepid this week as a blistering rally in domestic prices put off buyers, while premiums held firm in top consumer China. In India, the ...
Thank you for that kind introduction, Ellen [Meade]. It’s great to be here at Duke and to have a chance to talk about monetary policy with one of my favorite former Federal Reserve colleagues. Today, I’d like to discuss the progress we’ve made toward the Fed’s macroeconomic goals, as well as the risks ahead. The views I share are mine and not necessarily those of my colleagues on the Federal Open Market Committee (FOMC). As you know, inflation surged in 2021 and 2022 on the heels of the economic disruptions from the pandemic. The annual change in the price index for personal consumption expenditures (PCE) peaked at more than 7 percent, far above our 2 percent target. The FOMC responded by rapidly raising the target range for the federal funds rate—a total of 5.25 percentage points over a year and a half. These actions aimed to bring the economy into better balance so we can sustainably achieve both of our Congressionally mandated goals: stable prices and maximum employment. We have made substantial progress toward that objective. For the second half of 2023, PCE inflation was just 2.1 percent, annualized. Moreover, while the labor market cooled from its overheated pace in early 2023, it remained strong, with the unemployment rate holding below 4 percent. The combination of cooler inflation and still-strong economic activity in the second half of 2023 inspired optimism that the economy was on a benign track toward restoring price stability without too much cost to workers, businesses, families and communities. In the first two months of 2024, however, inflation data surprised to the upside. In the rest of my remarks, I’ll assess the economic outlook and risks in light of these recent developments. My bottom line is that while the benign path back to price stability rem post: Dallas Fed President Lorie Logan: "I see meaningful risks" to bringing inflation back to 2%. "In light of these risks, I believe it’s much too soon to think about cutting interest rates." https://t.co/U4WYSVmNzf post: Fed’s Logan: FOMC Should Remain Prepared to Respond Appropriately if Inflation Stops Falling Fed’s Logan: Increasingly Concerned About Upside Risk to the Inflation Outlook
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- Posted: Apr 5, 2024 10:34am
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