October 17, 2024
United States:
Fed Stuck on Six-Week Data Cycle When Investors Want a Forecast
For the past several months, Federal Reserve Chair Jerome Powell has hammered home the idea that interest-rate decisions will be made meeting by meeting based on incoming data.
The Fed publishes a summary of every policymaker’s quarterly economic forecasts, but Powell has referred to those as just a snapshot of views from that moment in time.
Europe:
Euro-Zone Inflation Revised Down for September, Backing ECB Cut
Euro-area inflation slowed more than initially reported – cementing the case for a second straight interest-rate cut by the European Central Bank.
Consumer-price growth moderated to 1.7% in September from 2.2% the previous month, Eurostat reported Thursday. The initial estimate was 1.8%.
Asia:
China’s Economy Likely Grew at Weakest Pace in Six Quarters
China’s economy likely grew at its weakest pace in six quarters, prompting Beijing to roll out a swath of stimulus measures in late September to draw a line under the slowdown.
Data on Friday is set to show the economy expanded 4.5% in the third quarter from a year ago, according to economists surveyed by Bloomberg. That would be the least since March 2023, though it should keep expansion for the first nine months at 4.9%, in line with Beijing’s annual goal of around 5%.
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