Fed shrugs off downturn concerns in latest minutes
Despite recent concerns from business leaders that the economy could slide into contraction within the next six months, U.S. central bankers see the economic outlook as fundamentally sound. Minutes from the latest meeting of the Federal Reserve's rate-setting committee show that bankers are confident about the immediate state of the U.S. economy. “The majority of […]
Mortgage applications drop 5.1 percent as rates rise despite Fed cuts
Mortgage applications fell earlier this month as interest rates rose following September's strong employment report. Recent data from the Mortgage Bankers Association's (MBA) Weekly Application Survey shows the number of applications for mortgage loans. decreased by 5.1% In the first week of October. Mike Fratantoni, Senior Vice President and Chief Economist, said, “Following strong economic […]
Gold price drops for sixth straight day as Fed Minutes hint at 25 bps cut – FXStreet
Gold fell after Fed minutes revealed that a “substantial majority” supported a 50bps rate cut, while some supported a 25bps rate cut. According to the CME FedWatch tool, as expectations for a rate cut increase, the probability of a 25 basis points cut has fallen to 75.9%. The yield on the US 10-year Treasury note […]
What’s Next for the Fed After the September Blunder?
Will the Fed double down on September's failure? September's jobs report was a shock to the system and upended expectations about the Fed's next move. With 254,000 jobs added in September, well above the 140,000 expected, and the unemployment rate falling to 4.1 percent, one thing becomes clear. The labor market has not weakened significantly. […]
Dollar keeps poise ahead of Fed minutes, kiwi falls after big rate cut By Reuters – Investing.com
Written by Brigid Riley TOKYO (Reuters) – The dollar was flat on Wednesday, offering some relief to the yen and other major currencies after surging to seven-week highs last week as investors took a break to assess the outlook for U.S. interest rates. It gave me a feeling. The New Zealand dollar fell to $0.60705, […]
Dollar steady ahead of Fed minutes, NZ dollar falls after rate cut – Yahoo Finance
Written by Brigid Riley TOKYO (Reuters) – The dollar was flat on Wednesday as investors paused to assess the outlook for the path of U.S. interest rates, adding some support to the yen and other major currencies, which soared to a seven-week high last week. It gave me a sense of relief. The New Zealand […]
Teamsters boss goes scorched-earth on Democratic Party: ‘They have f***ed us over for the last 40 years’
Sean O'Brien, president of the International Brotherhood of Teamsters, identifies as a Democrat and has made no secret of his antipathy towards some parts of the Republican Party in recent years. However, Mr. O'Brien overwhelming majority of teamster –Democrats recognize that they should be even more outraged. He spoke on the show with comedian Theo […]
J&R Music owner looking to sell former retail space after Fed cut
The iconic retail and office space at 15 Park Row, once home to J&R Music, is being put up for sale by owner Rachel Friedman as a 200-year condominium lease. The 15,186 square feet of office space on the second floor is leased to creative agency DBOX until November 2026, but all of the 19,327 […]
US dividend ETFs bask in investor attention after jumbo Fed rate cut By Reuters – Investing.com
Written by Suzanne McGee (Reuters) – Flows into U.S. exchange-traded funds (ETFs) that invest in high-dividend stocks have surged since the Federal Reserve began its rate-cutting cycle last month, but U.S. Treasury yields have The rise in dividends could slow down the flood of dividends. Investor's funds. The group of 135 U.S. dividend ETFs tracked […]
Voters Show They’re Fed Up With Crime In Poll On Blue State Proposition
California voters overwhelmingly support Proposition 36, a bill that increases penalties for certain drug and property crimes, according to a poll released Friday by the Institute for Governmental Studies (IGS). A poll conducted by Berkeley IGS shows strong support for the proposal among Californians, with 60% of likely voters supporting it as the November 5th […]