Fed chair says central bank ‘can afford to be a little more cautious’ in cutting rates
Federal Reserve Chairman Jerome Powell said Wednesday that the economy is stronger than it was in September, when the central bank began cutting interest rates, and that policymakers may be wary of cutting rates further. “We can afford to be a little more cautious as we strive for neutrality,” Powell said at a New York […]
The Fed Should Take a Long Winter’s Nap
Fed leans back on another mistaken rate cut Fed officials appear intent on repeating the mistakes of September and November by cutting rates again next time. Economic indicators clearly need a pause. Fed Governor christopher wallerSpeaking in Washington, he announced tentative intentions to cut interest rates at the Federal Open Market Committee meeting in December, […]
Job Openings Rise in October, Casting Wisdom of Fed Cuts Into Doubt
The U.S. labor market showed signs of stabilizing in October, with job openings rising and voluntary resignations reaching a five-month high, according to data released Tuesday by the Labor Department. According to the monthly Job Openings and Labor Turnover Survey (JOLTS), the number of job openings rose to 7.74 million from 7.37 million in September. […]
Gold (XAU) Price Forecast: Will Jobs Data Push the Fed to Cut Rates and Lift Gold? – FX Empire
If the report shows strong job growth and suppressed unemployment, it could reduce the odds of a December rate cut. Such an outcome would likely strengthen the dollar and weigh on gold prices by increasing the opportunity cost of holding non-yielding assets. Conversely, a weaker-than-expected employment report could raise expectations for a rate cut, weakening […]
Gold prices rebound amid geopolitical tensions, Fed dovish bets – FXStreet
Gold rose 0.67% in late trade, but remains above $2,600 despite a monthly decline due to geopolitical tensions. The escalating conflict between Russia and Ukraine and tensions in the Middle East highlight the appeal of gold as a safe haven. Markets are increasingly optimistic that the Fed will cut rates by 25 basis points in […]
Lowe’s Goes All Out To Make Sure People Are Fed On Thanksgiving
Iconic American company Lowe's Home Improvement hopes to distribute 3,000 free meals to families on Thanksgiving at six locations in North Carolina. Home improvement company hired local restaurants to prepare these meals for needy people, WSOC-TV reported Tuesday. Local restaurants selected by Lowe's as we recover from Hurricane Helen. “This is huge,” Brian Stause of […]
Inflation Is Making a Fool of the Fed
Inflation rises again of Inflation has accelerated since the Federal Reserve cut interest rates. Statements in September suggest this move was a mistake. of personal consumption expenditure The PCE index rose 2.3% in the 12 months through October, up from 2.1% in September, the U.S. Bureau of Economic Analysis said Wednesday. Core PCE prices, excluding […]
NYC found in contempt over ‘grave’ conditions at Rikers Island — with fed takeover increasingly likely
New York City was found guilty of contempt Wednesday over “serious” conditions at Rikers Island. The judge said Rikers Island is “prone” to ordering a federal takeover of the troubled prison complex. A scathing 65-page contempt order by Manhattan federal judge Laura Taylor Swain accused the city of increased inmate deaths, a spike in “uses […]
Mississippi teacher who fed students dog food she thought was beef jerky ousted from job
Bone appetite! A Mississippi teacher is in the doghouse after unknowingly serving nearly a dozen students beef-flavored dog treats during a classroom party, sending one child to the hospital. A Calhoun City High School educator lost his job over the blunder after eight students ate at least a mouthful of pet food, mistaking it for […]
Fed minutes show volatility was reason to go slow on rate cuts
Fed officials appeared to be divided on how far they should cut interest rates at their meeting earlier this month, but the entire group agreed that U.S. monetary policy will change in the coming weeks. They agreed that now is the time to avoid giving too specific guidelines regarding the possibility of such developments. First. […]