Tag: Breaking news

2024-08-06

San Francisco Fed President Daly sees interest rate cuts coming as labor market weakens

No Comments
Business

Mary Daly, president of the Federal Reserve Bank of San Francisco, during the National Association of Business Economics (NABE) economic policy conference in Washington, DC, US, on Friday, Feb. 16, 2024.  Graeme Sloan | Bloomberg | Getty Images San Francisco Federal Reserve President Mary Daly on Monday said she expects that interest rates will be cut later this year…

Read More

2024-08-04

Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

No Comments
Business

Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly revised 179,000 in June and below the Dow Jones estimate for 185,000. The unemployment rate edged…

Read More

2024-08-01

Fed holds rates steady and notes progress on inflation

No Comments
Business

WASHINGTON – Federal Reserve officials on Wednesday held short-term interest rates steady but indicated that inflation is getting closer to its target, which could open the door for future interest rate cuts. Central bankers made no obvious indications, though, that a reduction is imminent, choosing to maintain language that indicates ongoing concerns about economic conditions, albeit with progress. They…

Read More