Corporate greed is not the main driver of US inflation, according to a new study released by the Federal Reserve Bank of San Francisco.
Breaking News
Atlanta Federal Reserve President Raphael Bostic has reportedly indicated that the US economy is likely slowing down, which could prompt interest rate cuts this year.
US banks have observed a fresh decline in loan demand for industrial purposes and household demand for credit during the first quarter of the year, according to a Federal Reserve survey.
The US dollar dipped to a three-week low against the Japanese yen on Friday following reports of US jobs and wage growth slowed down in April.
The Federal Reserve is facing pressure to implement more aggressive rate cuts amid a weakening jobs market.
Asian markets are poised for further gains after US markets' positive reaction to the Federal Reserve's signal that interest rates could be slashed by 75 basis points this year.
Federal Reserve Governor Christopher Waller has affirmed that the US dollar will remain the world's reserve currency.
The Biden administration has acknowledged that terms such as "MAGA," "Trump," and "Kamala" were among those flagged for scrutiny in the government's call for banks to monitor private financial transactions after the US Capitol attack.
The Federal Reserve has indicated a cautious approach towards cutting US interest rates.
Former President Donald Trump has voiced his disapproval of Federal Reserve chair Jerome Powell's handling of the economy.
The US dollar has slipped to a five-month low against the euro and several other currencies,
After the Federal Reserve signaled it could start cutting interest rates next year if inflation continues to fall, the Dow Jones Industrial Average closed at a new record high.
According to the latest CNBC Fed Survey, there is a growing expectation that the Federal Reserve will initiate rate cuts in June 2024.
Federal Reserve Chairman Jerome Powell has dismissed market speculations for aggressive interest rate cuts ahead.
Amid signs of an economic slowdown, ING Economics predicts that the US Federal Reserve will cut interest rates six times in 2024.
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