Faster income tax cuts, overhauling state agencies that assist students with disabilities and consolidating dozens of boards and commissions are among the top priorities of Iowa Republicans when lawmakers return to the Capitol in January. Republicans will head into the 2024 legislative session with full control of the House, Senate and governor’s office for the […]
Oil and Gas Drilling Rig over Offshore PlatformGetty No matter how much OPEC cuts oil output, other countries will “fill the hole,” a senior equity trader said. A surge of supply from non-OPEC nations like US, Brazil, and Guyana has surprised oil markets this year. “We’re looking at 2024 and we’re concerned that the market […]
By Lisa Baertlein and Priyamvada C (Reuters) -FedEx cut its full-year revenue forecast and reported quarterly profit that fell far short of analysts’ targets on Tuesday, sending shares tumbling 8.5%, as it battles for business in what is shaping up to be a weak holiday season. The company’s shares fell to $256.20 in extended trading […]
Inflation has been a thorn in the side of central banks worldwide for over two years, but Goldman Sachs’ chief economist Jan Hatzius believes the era of pain for consumers is coming to an end. And Hatzius is someone worth listening to, given his recent track record on the economy. The combined core inflation rate […]
(Bloomberg) — Argentina’s central bank changed its benchmark tool for monetary policy Monday, replacing four-week notes with one-day transactions in a bid to lower borrowing costs. Most Read from Bloomberg The monetary authority will no longer auction its 28-day Leliq notes, which until now were used to determine its policy rate. Instead, the 1-day repo […]
Federal Reserve chair Jerome Powell spoke at a press conference in Washington, DC on December 13.Kevin Lamarque/Reuters The world economy has entered a period of “great disinflation,” Goldman Sachs said Monday. The Federal Reserve is likely to slash interest rates five times in 2024, according to the bank. Its outlook comes after chair Jerome Powell’s […]
Mohamed El-Erian.Rob Kim/Getty Images If the Fed appeases the market, it could risk a sharp reversal later, Mohamed El-Erian wrote in the FT. The more the Fed gives in to investors on rate cuts next year, the more they will press for even more dovishness. “If investors price in additional rate cuts, it is harder […]
The City University of New York is slashing tens of millions from college budgets across eight of its 25 campuses, potentially gutting course offerings and student services from counseling to record-keeping, the Daily News has learned. Central administration ordered the schools — including York, Brooklyn and Queens Colleges — to submit “enhanced deficit reduction plans” […]
Investors are eagerly attempting to predict when the Fed could start cutting interest rates.Lucas Jackson/Reuters The Fed’s nod towards interest rate cuts sparked a sea change on Wall Street last week. The question about rate cuts from the Fed changed to a matter of when in 2024, not if. Wall Street forecasters are starting to […]