Biden to highlight plans to deny tax breaks to wealthy companies, raise corporate tax rate in State of the Union
President Biden is expected to use his State of the Union address to outline his tax policy goals for his second term, including denying tax breaks to companies with high-paid employees and raising corporate taxes. The president is scheduled to submit a budget next week, which White House officials say aims to reduce the deficit […]
Fed chief caught in partisan battle over rate cuts as election looms
Interest rates have become an increasingly partisan issue in the run-up to the 2024 election, with Democrats pushing the Fed to cut interest rates and lower borrowing costs, while Republicans are wary of persistently high inflation. Former President Trump has frequently pressed the politically independent Fed to lower interest rates to achieve his political goals […]
Fed chair Jerome Powell expects further interest rate cut this year | Federal Reserve
Federal Reserve Chairman Jerome Powell on Wednesday said the central bank still expects to lower its benchmark interest rate before the end of the year, but warned that continued progress in inflation is “not guaranteed.” As U.S. lawmakers prepare to face voters fed up with inflation, Chairman Powell said in prepared remarks to the House […]
China’s Rubber-Stamped Lawmakers to Tackle Birth Rate, Economic Woes
China held “two meetings” on Monday: the annual general meeting of the National People’s Congress, the highest legislative body, and the Chinese People’s Political Consultative Conference (CPPCC), an “advisory body” with more than 2,000 members. It started on Monday. The idea is to devise ways to reverse the increasingly worrying economic decline. Chinese state news […]
Atlanta Fed’s Bostic Warns Rate Cut Could Reignite Inflation
Atlanta Fed President Rapahel Bostic said Monday there was a significant risk that the Fed’s interest rate cuts could reignite inflation. in an essay Posted on the Atlanta Fed websiteBostic said the Fed should take a cautious approach to the economy, recognizing that the risk of higher inflation remains and that easing monetary policy could […]
Gold Prices Forecast: More Gains Ahead Amid Fed Rate Cut Speculation? – FX Empire
Weekly Gold (XAU/USD)Interest rate and dollar impact Recent economic data has led to lower U.S. Treasury yields, influencing the Federal Reserve’s monetary policy outlook. Falling benchmark 10-year U.S. Treasury yields and the dollar index are making gold more attractive. Key data points include the University of Michigan Sentiment Index and the Personal Consumption Expenditures (PCE) […]
Inflation, incomes rose in January as Fed weighs rate cuts
Inflation and personal incomes rose in January, according to federal data released Thursday, another sign of economic strength that could delay a long-anticipated interest rate cut. The personal consumption expenditure (PCE) price index, the Federal Reserve’s preferred measure of inflation, rose 0.3% in January and has risen 2.4% over the past 12 months. Despite the […]
Yen climbs as Bank of Japan drops the clearest hint of a looming rate hike – ForexLive
US dollar yen 5 minutes Bank of Japan board member Hajime Takada opened the door for Japan to raise interest rates and end negative interest rates. His comments caused USD/JPY to drop nearly 50 pips, slowing its gains from the beginning of the week. Although he stopped short of promising policy changes, his comments were […]
Horse racing oversight board reports equine fatality rate at tracks it regulates
According to the federal horse racing regulator, the number of horse racing-related horse deaths that occurred at racetracks under its jurisdiction in 2023 was 1.23 per 1,000 horses, a much lower rate than at racetracks outside its jurisdiction. Ta. The Horse Racing Integrity and Safety Authority’s report released on Tuesday said the sport’s fatality rate […]
Asia-Pacific markets mostly lower as New Zealand central bank holds rate; Hong Kong budget awaited – CNBC
Friday, February 16, 2024, at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group, Inc. (JPX), Tokyo, Japan. Kosuke Okahara/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Asia-Pacific stock markets were mostly lower on Wednesday as New Zealand’s central bank kept interest rates unchanged while investors awaited key US inflation indicators and […]