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3 mentions found


☆ Federal Reserve interest rate verdict: Central bankers meet to decide on next move
  + stars: | 2024-05-01 | by ( Bryan Mena | ) edition.cnn.com   time to read: +5 min
Washington CNN —The Federal Reserve is expected to announce Wednesday that it is keeping interest rates at a quarter-century high for the sixth-straight meeting. Other Fed officials have already introduced the possibility of a rate hike, in addition to the chance of no rate cuts this year. Williams later said that another rate hike is possible if economic data warrants it. That combination eerily resembled stagflation, which triggered a broad stocks selloff on Wall Street Thursday. The threshold for a rate hike is ‘extremely high’Another interest rate hike is back in the conversation, but at the moment, it’s still not likely the Fed will do that.
Persons: Jerome Powell, ” Powell, Powell, John Williams, Williams, Neel Kashkari, Austan Goolsbee, “, can’t, it’s, Goldman Sachs, Wall, ” Oren Klachkin Organizations: Washington CNN, Federal, Index, New York Fed, Bloomberg, Minneapolis, Chicago Fed, Commerce Department, JPMorgan, Bank of America, Nationwide, CNN Locations: New, Chicago, Wells Fargo
☆ US economy grew by just 1.6% in the first quarter, a much slower pace than expected
  + stars: | 2024-04-25 | by ( Bryan Mena | ) edition.cnn.com   time to read: +3 min
Washington CNN —The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Gross domestic product, which measures all the services and goods produced in the economy, measured an annualized rate of 1.6% in the first quarter, the Commerce Department reported Thursday. It was the weakest pace of growth since the second quarter of 2022 when the economy contracted. What this means for interest ratesInflation slowed considerably last year, but the pace of its descent has stalled in recent months. For now, economic growth remains healthy, despite the weaker-than-expected first-quarter GDP reading, as employers continue to hire at a solid clip and workers still command robust wage gains.
Persons: ” Oren Klachkin Organizations: Washington CNN, Federal Reserve, Gross, Commerce Department, Consumer, Nationwide, CNN
☆ Americans’ attitudes toward the economy hold steady despite disappointing inflation reports
  + stars: | 2024-04-12 | by ( Bryan Mena | ) edition.cnn.com   time to read: +4 min
Washington CNN —Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. The Federal Reserve cares whether or not Americans have faith that inflation will eventually return to levels they’re used to. Consumer prices were 3.5% higher in March from a year earlier, a much bigger increase than February’s 3.2% and above what economists were forecasting. On a monthly basis, consumer prices rose 0.4%, also above expectations. The economy is coming into focusEveryday Americans, on the other hand, haven’t fretted about progress on inflation potentially stalling.
Persons: haven’t, ”, Joanne Hsu, ” Oren Klachkin, Stocks, Goldman Sachs, “, ” Goldman Sachs’s, Jan Hatzius, they’re, Joe Biden, Biden, Donald Trump Organizations: Washington CNN, University of Michigan’s, Consumers, Nationwide, CPI, Bank of America, CNN Locations: Pennsylvania, Scranton , Pennsylvania
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