Federal Reserve Chair Powell Dismisses Rate Cut Talks as ‘Premature’ and Suggests Potential for More Hikes

Federal Reserve Chairman Jerome Powell on Friday downplayed aggressive interest rate cuts, hailing their premature declarations as confounding, adding it’s too soon to speculate when policy might ease. Powell in his speech said that the current inflation levels are still “well above” the central bank’s goal, refuting any notion of a sufficiently restrictive stance achieved. …

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Jeremy Hunt unveils new tax cuts for UK residents

The OBR’s recent forecasts for inflation and economic growth paint a much more pessimistic picture compared to previous projections in March. The OBR now expects inflation to rise to 2.8% by the end of 2024, a significant increase from the earlier forecast of 0.9%. Additionally, the growth forecasts have been downgraded to 0.6% for this …

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Jeremy Hunt unveils tax cuts in the UK: Here’s what you need to know

Jeremy Hunt confirms the previously announced £4.5 billion in funding for British manufacturing to boost investment in eight sectors across the U.K., available for a five-year period from 2025. The Treasury announced £960 million for clean energy, over £2 billion for the automotive industry, £975 million for aerospace, and £520 million for life sciences manufacturing. …

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Federal Reserve’s Waller Urges Caution and Patience in Deciding on Interest Rate Adjustments

Federal Reserve Governor Christopher Waller suggested that the central bank can delay interest rate hikes as it assesses progress in reducing inflation. Waller stated that recent data points are being evaluated to determine if the Fed’s efforts to lower demand and slow inflation are effective, or if the economy’s resilience is driving further price increases. …

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Eminent economists agree: ‘Higher for Longer’ rates imperative amidst lingering inflation concerns

Walking past the International Monetary Fund (IMF) headquarters in Washington DC on October 5, 2023, pedestrians couldn’t ignore the billboard announcing the annual meetings of the World Bank Group and IMF. The significance of this event was not lost on top economists and central bankers, who find themselves in agreement about one thing: interest rates …

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Breaking News: September CPI Remains Steady as Demand Softens, PPI Declines

An undated editorial photo of Chinese yuan cash bills and the flag of the People’s Republic of China. Javier Ghersi | Moment | Getty Images China’s consumer prices remained unchanged in September, while there was a slower annual decline in factory gate prices for the third consecutive month. This indicates an uneven post-Covid recovery in …

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The Unavoidable Risk of Inflation: Insights from ADP’s Chief Economist

A help wanted sign on a storefront in Ocean City, New Jersey, US, on Friday, Aug. 18, 2023. Surveys suggest that despite cooling inflation and jobs gains, Americans remain deeply skeptical of the president’s handling of the post-pandemic economy. Photographer: Al Drago/Bloomberg via Getty Images Al Drago | Bloomberg | Getty Images Inflation is “always …

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Federal Reserve Powerhouses Emphasize the Benefits of Maintaining High Interest Rates

Susan Collins, president of the Federal Reserve Bank of Boston, speaks during the National Association for Business Economics’ Economic Policy Conference in Washington, D.C., March 30, 2023. Ting Shen | Bloomberg | Getty Images Two Federal Reserve policymakers express support for maintaining high interest rates as the battle against excessive inflation continues. In separate speeches, …

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