• August 22, 2024

Fed's Harker is ready to start methodical course of rate cuts

By Michael S. Derby NEW YORK (Reuters) -Federal Reserve Bank of Philadelphia President Patrick Harker said Thursday he was on board with a September rate cut as long as the data performs as he ex...

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• August 22, 2024

Fed Officials Argue for Gradual Pace of Cuts Starting Soon

(Bloomberg) -- Two Federal Reserve officials said they believe it’s appropriate for the US central bank to begin lowering interest rates soon, and that the pace of subsequent cutting should be “grad...

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• August 22, 2024

Labor market weakness shows signs of 'leveling off,' keeps Fed on track to cut rates in September

Initial filings for unemployment benefits were roughly flat last week, reflecting a labor market that is cooling but not rapidly deteriorating as the employment outlook remains in focus ahead of F...

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• August 22, 2024

Turkey Has Decision to Make Soon to Show If Inflation Fight Real

(Bloomberg) -- Turkey’s minimum wage outlook is already being gamed out for clues that President Recep Tayyip Erdogan will dial back populist economic policies and deliver on a commitment to curb on...

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• August 22, 2024

US Mortgage Rates Drop to a 2024 Low as Buyers Await Fed Cuts

(Bloomberg) -- Mortgage rates in the US resumed their downward path, dropping to a new low for the year. The average for a 30-year, fixed loan was 6.46%, down from 6.49% last week, Freddie Mac sa...

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• August 22, 2024

Fed policymakers flag rate cuts as job market cools

By Ann Saphir and Michael S. Derby JACKSON HOLE, Wyoming (Reuters) -Federal Reserve policymakers on Thursday lined up in support of U.S. interest-rate cuts starting next month now that inflation ...

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• August 22, 2024

U.S. applications for unemployment benefits inch up, but remain at historically healthy levels

Slightly more Americans filed for unemployment benefits last week, but the number of claims remains at healthy levels. Jobless claims rose by 4,000 to 232,000 for the week of Aug. 17, the Labor D...

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• August 22, 2024

US jobless claims, business activity keep economy on gradual cooling path

By Lindsay Dunsmuir (Reuters) -The number of Americans filing new applications for unemployment benefits ticked up in the latest week, but appeared to be steadying near a level consistent with a ...

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• August 22, 2024

El-Erian Says Market Is Pricing In Too Many Fed Rate Cuts

(Bloomberg) -- Traders are overplaying the prospects of an aggressive series of Federal Reserve interest-rate cuts before the end of the year, according to Mohamed El-Erian. “It is problematic in...

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• August 22, 2024

Fed’s Harker Says Need More Data Before Deciding Rate-Cut Size

(Bloomberg) -- Federal Reserve Bank of Philadelphia President Patrick Harker said economic data in the coming weeks will help inform the appropriate magnitude of the US central bank’s first interest...

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