The Federal Reserve, also known as the Fed, plays a crucial role in shaping the monetary policy of the United States. With the dual mandate of achieving price stability and fostering full employment, the Fed uses interest rate adjustments as its primary tool to influence economic conditions. These decisions are made through eight policy meetings
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Following the Federal Reserve’s recent meeting, officials decided to keep short-term interest rates steady. However, there were indications that inflation is closer to its target, possibly paving the way for future interest rate cuts. Despite this, the central bankers did not make any explicit statements suggesting an imminent reduction. They maintained their stance on economic
The unexpected rise in the headline inflation rate for the HICP in July has caught many off guard. According to ABN AMRO senior economist Bill Diviney, the core inflation rate remained steady at 2.9%, when many were anticipating a decrease to 2.7%. The main drivers of this increase were attributed to a surge in energy
China’s manufacturing activity in July shrank for a third consecutive month, as shown by an official factory survey on Wednesday. This trend has raised concerns among experts and economists about the need for more stimulus measures from Beijing due to a prolonged property crisis and job insecurity impacting overall growth. The official Purchasing Managers’ Index
NZD/USD is trading stronger around 0.5915 in the Asian session on Wednesday, marking a 0.17% increase. This improvement comes after China’s NBS Manufacturing PMI for July exceeded expectations, while the Non-Manufacturing PMI fell in line with the consensus. The positive Chinese PMI readings have provided some support to the New Zealand Dollar, as China is
Gold prices have been struggling recently, but there seems to be a glimmer of hope as they attempt a fresh increase from the $2,350 support zone. The 4-hour chart of XAU/USD shows that gold found support near the $2,352 level against the US Dollar. The price has formed a base and has started a recovery
In July, the Japanese government revised its growth forecasts for the fiscal year ending March 2025 from 1.3% to 0.9%. The government expressed concerns about the weak Yen and its impact on households’ purchasing power. The private-sector members of the council also discussed the new growth forecasts in a meeting, acknowledging the challenges faced by
British finance minister Rachel Reeves has recently announced plans to raise taxes in the upcoming budget scheduled for October 30th. This decision comes as a response to a 22 billion pound shortfall in this year’s budget, highlighting the need for additional revenue to cover government expenses. Reeves, who assumed her role after the Labour Party’s
In recent weeks, the Australian Dollar (AUD) has been struggling against the US Dollar (USD), experiencing a significant drop of nearly 3.5%. This downward trend has placed the AUD among the weaker G-10 currencies, raising concerns about its stability in the financial markets. Commerzbank’s FX analyst Volkmar Baur points out two key factors that have
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The Job Openings and Labor Turnover Survey (JOLTS) is a critical economic indicator that provides insights into the dynamism of the labor market. This data, released by the US Bureau of Labor Statistics (BLS), sheds light on the number of job openings, layoffs, and quits in a given period. Market participants and policymakers, especially those
Warren Buffett’s Berkshire Hathaway has been on a selling streak, particularly with its Bank of America stake. This streak has now extended to nine straight days, raising questions about Buffett’s motives in trimming this long-time holding. The recent regulatory filing revealed that Berkshire sold a total of 18.4 million shares of the bank over the