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The Latest Breaking News from Ian Shepherdson

‘Time has come’ for US Federal Reserve to cut interest rates, says Powell

Fed chairman hails progress in battle to bring down inflation, with cut rates starting from September

The Guardian - US

How fast will interest rates fall? Fed Chair Powell may provide clues in high-profile speech

With the Federal Reserve considered certain to start cutting its benchmark interest rate next month, Chair Jerome Powell’s highly anticipated speech Friday morning at an economic conference will be closely watched for any hints about how many additional rate cuts might be in the pipeline

The Independent UK

Fed Holds Rates Steady, Sets Stage for Easing: What the Experts Are Saying

The Federal Reserve left interest rates unchanged but signaled it could pivot to lowering borrowing costs sooner rather than later.

Kiplinger

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Stock Market Today: Markets Hover Near Record Highs on Powell Testimony

Stocks were little changed on light volume as the Fed chief testified before Congress.

Kiplinger

April CPI Report Offers Some Relief: What the Experts Are Saying About Inflation

CPI moderated last month, boosting hopes for interest rate cuts coming sooner rather than later.

Kiplinger

Stock Market Today: Nasdaq Nabs First Record Close Since 2021

While the main indexes were choppy Thursday, tech stocks Snowflake and Okta made major moves.

Kiplinger

US growth cools in first quarter

WASHINGTON: US economic growth lost steam in the first quarter this year, the Commerce Department said on Thursday, as the possibility of a mild recession brews while consumer spending weakens.

Bangkok Post

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Despite high inflation, Americans are spending like crazy – and it's kind of puzzling

Americans began the new year with a spending spree, but businesses are not sure how long it can last. There's a lot riding on the answer, since consumer spending is the backbone of the U.S. economy.

WEKU

US Fed set to slow rate hikes

WASHINGTON: The US Federal Reserve started the second day of its policy meeting on Wednesday, on growing expectations that it will step down to a smaller interest rate hike as red-hot inflation shows signs of cooling.

Bangkok Post

Key inflation gauge cools, US consumer spending misses forecasts

The Federal Reserve’s preferred inflation measures eased in November while consumer spending stagnated, suggesting the central bank’s interest-rate hikes are helping to cool both price pressures and broader demand — with more tightening on the way.

Tribune News Service

How far will home prices fall? Some say 20% or more is possible

As the U.S. housing market continues to cool, a growing number of forecasters say homeowners could soon experience significant price declines. These analysts look at the record run-up in home prices during the COVID pandemic and say a drop of 20% or more looms in the near future.

Tribune News Service

Card balances continued to grow at moderate pace in September, Fed reports

Credit card debt grew moderately in September, as gas prices continued to decline. While inflation remained an issue impacting consumers, rising 8.2 percent over the year for September, gas prices were down 4.9 percent from August. This follows August’s month-over-month 10.6 percent downslide in gas prices.

Tribune News Service

Home prices keep rising, even as the market cools

"The affordable housing problem is going to stick around no matter what."

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