• August 23, 2024

Summers Says Fed Recovered From ‘Egregious’ Inflation Mistake

(Bloomberg) -- Former Treasury Secretary Lawrence Summers said that, while the Federal Reserve hit a “low point” in its monetary policy history by failing to act quickly against the 2021 inflation s...

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• August 23, 2024

Fires break out on abandoned Greek-flagged oil tanker Sounion that Yemen rebels attacked in Red Sea

DUBAI, United Arab Emirates (AP) — Fires broke out Friday on a Greek-flagged oil tanker previously attacked by Yemen's Houthi rebels this week, with the vessel now appearing to be adrift in the ...

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• August 23, 2024

How to prepare for the Fed's forthcoming interest rate cuts

NEW YORK (AP) — The Federal Reserve is poised to cut its benchmark interest rate next month from its 23-year high, with consequences for consumers when it comes to debt, savings, auto loans and mort...

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• August 23, 2024

Powell Says ‘Time Has Come’ for Fed to Cut Interest Rates

(Bloomberg) -- Chair Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and...

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• August 23, 2024

Fed’s Harker Says Interest-Rate Cuts Should Be ‘Methodical’

(Bloomberg) -- Philadelphia Fed President Patrick Harker said it is time for the US central bank to start cutting interest rates and emphasized the path down should be “methodical.” “It’s time to...

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• August 23, 2024

Key quotes from Powell's speech at Fed's Jackson Hole conference

(Reuters) - Here are key quotes from Federal Reserve Chair Jerome Powell's speech on Friday to the Kansas City Fed's annual economic conference in Jackson Hole, Wyoming: POLICY: "The time has com...

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• August 23, 2024

Fed’s Bostic Says He Now Might Favor More Than One 2024 Cut

(Bloomberg) -- Federal Reserve Bank of Atlanta President Raphael Bostic said it’s possible that more than one interest-rate cut may now be needed by year-end, shifting his view in the wake of data s...

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• August 23, 2024

Global equity funds see sharp inflows on Fed rate cut hopes

(Reuters) - Global investors ploughed money into equity funds in the week to Aug. 21, encouraged by expectations of a Federal Reserve rate cut in September and easing concerns about the U.S. economy...

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• August 23, 2024

Gold Rebounds Before Fed Speech That May Offer Rate Clues

(Bloomberg) -- Gold rebounded above $2,500 an ounce, ahead of a speech by Federal Reserve Chair Jerome Powell that may provide fresh clues on the central bank’s monetary-policy path. Bullion rose...

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• August 23, 2024

Japanese CPI and Ueda’s Comments Prop up the Yen Ahead of Powell’s Address

Japanese Yen (USD/JPY) Analysis BoJ encouraged to stick to the plan as inflation continues above target Japanese CPI remains at 2.8% - the same as last month and beats es...

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