Tag: Breaking News: Economy

2024-10-01

Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’

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Federal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller. The central bank chief asserted during a speech in Nashville, Tennessee, that he and his colleagues will seek to balance bringing…

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2024-09-30

Prices rise 2.2%, less than expected

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Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday. The personal consumption expenditures price index, a gauge the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the month, putting the 12-month inflation rate at 2.2%,…

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2024-09-27

Inside Southwest’s plan for its future

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A Southwest Airlines Boeing 737-700 aircraft lands at Ronald Reagan Washington National Airport in Arlington, Virginia, on May 7, 2023. Nicolas Economou | Nurphoto | Getty Images DALLAS — Southwest Airlines executives on Thursday outlined for Wall Street their vision to boost profits: extra legroom seats starting in 2026, assigned seating, international partnerships and overnight flights. Southwest’s new plan…

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2024-09-25

Boeing sweetens labor proposal in ‘best and final’ offer

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Striking Boeing workers hold rally at the Boeing Portland Facility on September 19, 2024, in Portland, Oregon.  Jordan Gale | AFP | Getty Images Boeing on Monday sweetened its contract offer and said it was its “best and final” proposal for its more than 30,000 machinists as their strike, which has halted most of the aerospace giant’s aircraft production,…

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2024-09-23

Machinists prepare for lengthy stoppage

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Workers picket outside a Boeing Co. facility during a strike in Everett, Washington, US, on Monday, Sept. 16, 2024. Boeing Co. factory workers walked off the job for the first time in 16 years, halting manufacturing across the planemaker’s Seattle hub after members of its largest union voted overwhelmingly to reject a contract offer and go on strike. M….

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2024-09-21

Largest port on East Coast begins preparations for a strike

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Port of New York/New Jersey executives tell CNBC they have begun preparations for a potential complete work stoppage by the International Longshoremen’s Association, the largest North American union for maritime workers. The ILA represents more than 85,000 longshoremen and a strike would shut down five of the 10 busiest ports in North America, and a total of 36 ports…

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2024-09-20

The Fed has set out on a ‘recalibration’ of policy. Here’s what Powell’s new buzzword means

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Federal Reserve Chair Jerome Powell has unveiled his latest buzzword to describe monetary policy, with a “recalibration” of policy at a pivotal moment for the central bank. At his news conference following Wednesday’s open market committee meeting, Powell used variations of the word no fewer than eight times as he sought to explain why the Fed took the unusual…

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2024-09-18

Fed to cut rates by a quarter point with a soft landing expected, according to CNBC Fed Survey

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Federal Reserve Chairman Jerome Powell. Andrew Harnik | Getty Images With considerable uncertainty about what the Federal Reserve will do at its meeting this week, respondents to the CNBC Fed Survey are forecasting a more gradual approach to rate cuts than is currently priced into markets. The survey shows 84% of the 27 respondents, including economists, fund managers and…

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2024-09-15

Strike will ‘jeopardize’ recovery, hurt aircraft production

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Union members hold picket signs during a news conference following a vote count on the union contract at the IAM District 751 Main Union Hall in Seattle, Washington, US, on Thursday, Sept. 12, 2024.  M. Scott Brauer | Bloomberg | Getty Images Boeing CFO Brian West said the labor strike that began just after midnight Friday will hurt aircraft…

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