November 15, 2024
United States:
Fed’s Powell Says No Need to Hurry Rate Cuts With Economy Strong
Federal Reserve Chair Jerome Powell said the recent performance of the US economy has been “remarkably good,” giving central bankers room to lower interest rates at a careful pace.
“The economy is not sending any signals that we need to be in a hurry to lower rates,” Powell said Thursday in Dallas. “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”
Europe:
Euro Area to See Consumer Pickup But Risks Are High, EU Says
The euro area’s economic growth will pick up as obstacles to consumption and investment fade away, though geopolitics poses an increasing threat, according to the European Commission.
Gross domestic product will increase by 1.3% next year and by 1.6% in 2026, the EU’s executive arm said in a report published Friday.
Asia:
Japan’s Economy Beats Consensus in Boost for BOJ Rate Hike Case
Japan’s economy grew at a slightly faster pace than expected, backing the case for the central bank to stay on the path toward rate hikes while also easing pressure on the government as it finalizes fiscal stimulus steps to be unveiled this month.
Gross domestic product expanded at an annualized pace of 0.9% in the three months through September from the prior period, the Cabinet Office reported Friday, slowing from a downwardly revised 2.2% clip in the previous period.
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