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High Interest Rates Are Working, Fed’s Williams Says

Federal Reserve Bank of New York President John Williams said he expects inflation to continue falling in the second half of this year, adding that elevated borrowing costs are restraining the economy. Williams said that while inflation is still too high, Fed policy is well positioned and the imbalances between supply and demand are easing.… Read More »High Interest Rates Are Working, Fed’s Williams Says

The Fed’s preferred inflation measure rose 0.2% in April, as expected

KEY POINTS Inflation rose about as expected in April, with markets on edge over when interest rates might start coming down, according to a measure released Friday that is followed closely by the Federal Reserve. The personal consumption expenditures price index excluding food and energy costs increased just 0.2% for the period, in line with the Dow… Read More »The Fed’s preferred inflation measure rose 0.2% in April, as expected

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

(AP) — The U.S. economy grew at a sluggish 1.3% annual pace from January through March, the weakest quarterly rate since the spring of 2022, the government said Thursday in a downgrade from its previous estimate. Consumer spending rose but at a slower pace than previously thought, a sign that high interest rates and lingering… Read More »US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

Fed’s Favorite Underlying Inflation Gauge Is Seen Cooling

The Federal Reserve’s first-line inflation gauge is about to show some modest relief from stubborn price pressures, corroborating central bankers’ prudence about the timing of interest-rate cuts. Economists expect the personal consumption expenditures price index minus food and energy — due on Friday — to rise 0.2% in April. That would mark the smallest advance… Read More »Fed’s Favorite Underlying Inflation Gauge Is Seen Cooling

JPMorgan Traders See Nvidia, Economy Fueling S&P 500 Gains

Another round of blowout earnings from artificial-intelligence darling Nvidia Corp. and the economy’s steady advance mean the S&P 500 Index likely has further room to rise, according to JPMorgan Chase & Co.’s trading desk. “With the AI-theme still delivering and the macro hypothesis intact, we are likely to continue to make new all-time highs,” the team including Head of US Market… Read More »JPMorgan Traders See Nvidia, Economy Fueling S&P 500 Gains

Janet Yellen says many Americans still struggling with inflation

US Treasury secretary Janet Yellen has said “substantial increases” in living costs are a “problem to a lot of people” as persistent inflation dents President Joe Biden’s standing with voters ahead of November’s election. Prices for housing and everyday goods were still high for many voters, Yellen acknowledged, despite strong wage growth in recent months. “They see… Read More »Janet Yellen says many Americans still struggling with inflation

Fed Minutes Show Officials Rally Around Higher-for-Longer Rates

Federal Reserve officials earlier this month coalesced around a desire to hold interest rates higher for longer and “many” questioned whether policy was restrictive enough to bring inflation down to their target. Minutes from the two-day Federal Open Market Committee gathering ending May 1 showed that, while participants assessed that policy was “well positioned,” various… Read More »Fed Minutes Show Officials Rally Around Higher-for-Longer Rates

JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’

KEY POINTS JPMorgan Chase’s chairman and CEO, Jamie Dimon, says a “hard landing” for the U.S. cannot be ruled out. When asked by CNBC’s Sri Jegarajah about the prospect of a hard landing, Dimon replied: “Could we actually see one? Of course, how could anyone who reads history say there’s no chance?” The CEO was speaking at the… Read More »JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’