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David JC Cutler

Fed’s Powell downplays potential for a rate hike despite higher price pressures

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Yet Powell, during a panel discussion in Amsterdam, said his confidence that inflation will ease “is not… Read More »Fed’s Powell downplays potential for a rate hike despite higher price pressures

CPI report shows inflation easing in April, with consumer prices still rising 3.4% from a year ago

KEY POINTS Inflation eased slightly in April, providing at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent. The consumer price index, a broad measure of how much goods and services cost at the cash register, increased 0.3% from March, the Labor Department’s Bureau of… Read More »CPI report shows inflation easing in April, with consumer prices still rising 3.4% from a year ago

Investors Crowd Into Soft-Landing Trade Ahead of Crucial Inflation Data

Three straight months of hot inflation data dented Wall Street’s confidence that a series of interest-rate cuts is set to start at any minute. Investors are hoping the fourth time is the charm. A mood of renewed optimism about a soft landing for the U.S. economy has swept across trading desks in the days ahead of Wednesday’s… Read More »Investors Crowd Into Soft-Landing Trade Ahead of Crucial Inflation Data

US Producer Prices Top Forecasts, But Details Offer Some Relief

US producer prices rose in April by more than projected, though key components that feed into the Federal Reserve’s preferred inflation gauge were more muted. The producer price index for final demand increased 0.5% from a month earlier, driven largely by services and following a downwardly revised 0.1% drop in March, Bureau of Labor Statistics… Read More »US Producer Prices Top Forecasts, But Details Offer Some Relief

A Doomsday Recession Mentality Is Keeping the S&P 500 Strong

North America’s largest companies are on track to post their best quarterly earnings relative to expectations in at least two years, as they’ve worked to keep costs down over fears of a recession. The 459 companies in the S&P 500 that have reported this quarter have posted profits on average 8.4% higher than expected, according… Read More »A Doomsday Recession Mentality Is Keeping the S&P 500 Strong

Fed officials mull whether rates high enough as inflation expectations jump

(Reuters) – Debate over whether U.S. interest rates are high enough deepened among Federal Reserve officials this week, and may be stoked further after a key survey showed a jump in consumers’ inflation expectations. “There are … important upside risks to inflation that are on my mind, and I think there’s also uncertainties about how… Read More »Fed officials mull whether rates high enough as inflation expectations jump

FTX Has Billions More Than Needed to Pay Bankruptcy Victims

Cryptocurrency exchange FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries, plus interest, a rare outcome in US bankruptcy proceedings. Lower-ranking creditors typically receive just pennies on the dollar for their holdings, but FTX benefitted from a… Read More »FTX Has Billions More Than Needed to Pay Bankruptcy Victims

Fed’s Collins says economy may need to weaken to get 2% inflation

(Reuters) – Federal Reserve Bank of Boston President Susan Collins said on Wednesday that the U.S. economy needs to cool off as an avenue toward getting inflation back to the central bank’s 2% target. “A slowdown in activity will be needed to ensure that demand is better aligned with supply for inflation to return durably”… Read More »Fed’s Collins says economy may need to weaken to get 2% inflation