September 6, 2024 United States: Fed’s Williams Says Now Appropriate to Lower Interest Rates Federal Reserve Bank of New York President John Williams said it is now appropriate for the central bank to reduce interest rates, given progress on lowering inflation and a cooling in the labor market. Williams said there had been “significant progress”
September 5, 2024 United States: Wall Street’s Big Bet on Jumbo Fed Cuts Hangs on US Jobs Report The bold bet from the likes of Citigroup Inc. and JPMorgan Chase & Co. that the Federal Reserve will slash interest rates by a half-percentage-point this month faces its biggest test yet from Friday’s US jobs report.
September 4, 2024 United States: US Mortgage Rates Continue to Ease on Expectations of Fed Move US mortgage rates fell last week to their lowest level since April 2023, prompting potential homebuyers to apply for loans at a faster clip. The contract rate on a 30-year fixed mortgage fell slightly to 6.43% in the week
September 3, 2024 United States: US Jobs Data Return to Center Stage as Fed Mulls Rate-Cut Size With the Federal Reserve set to begin cutting interest rates in a few weeks, the main question now is how big the first reduction will be. Monthly US employment data due Friday will probably determine the answer. Investors
September 2, 2024 United States: US Jobs Data Will Help the Fed Gauge the Extent of Its Moderation Upcoming readouts on the US labor market, including the monthly payrolls report, will give Federal Reserve policymakers insight into the need for further interest-rate reductions after an all-but-certain cut in a little more than two weeks. With
August 30, 2024 In July 2024, the Euro Area seasonally adjusted unemployment rate was 6.4%, a decrease from 6.5% in June 2024 and 6.6% in July 2023. In July 2024, the EU unemployment rate was 6.0%, which remained steady between June 2024 and July 2023. Eurostat forecasts that 13.108 million people in the EU, 10.990
August 30, 2024 Euro area annual inflation is expected to be 2.2% in August 2024, down from 2.6% in July, according to a flash estimate from Eurostat, the European Union's statistical office. Looking at the main components of euro area inflation, services are expected to have the highest annual rate in August (4.2%, compared to
August 30, 2024 United States: Treasuries Slide as Data Fail to Support Jumbo Fed Rate Cut Treasuries declined as the Federal Reserve’s favored inflation gauge reinforced the outlook for a measured pace of interest-rate cuts starting next month. The declines on Friday pushed the yield on two-year notes, which are sensitive to central bank policy,
August 29, 2024 United States: US Economy Expands at Revised 3% Rate on Resilient Consumer The US economy grew at a slightly stronger pace in the second quarter than initially reported, reflecting an upward revision to consumer spending that more than offset weaker activity in other categories. Gross domestic product rose at a 3% annualized
August 28, 2024 Components of the broad monetary aggregate M3 The annual growth rate of the broad monetary aggregate M3 was 2.3% in July 2024, steady from the previous month and averaging 2.0% in the three months preceding July. The annual growth rate of the narrower aggregate M1, which includes currency in circulation and overnight
