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☆ For Trump and Biden, attention on North Carolina will linger well past Super Tuesday
▼ + stars: | 2024-03-02 | by ( Steve Contorno | Jeff Zeleny | ) edition.cnn.com time to read: +11 min

North Carolina, which Trump narrowly won in 2020, is emerging as a critical piece of Biden’s reelection strategy. It has been 16 years since Barack Obama delivered a North Carolina surprise in 2008. Former President Donald Trump gestures after speaking at the North Carolina Republican Party convention in Greensboro on June 10, 2023. She isn’t sure how much longer Republicans can hold the line in North Carolina. “Yes, we have had more growth in our urban communities, and it’s going to make North Carolina trend bluer in the future,” Anderson said.

Persons: North Carolina CNN — Donald Trump, Nikki Haley, Joe Biden, ”, Paul Shumaker, “ It’s, Haley, Kamala Harris, ” Harris, Barack Obama, Biden, Donald Trump, Chuck Burton, Sarah Reidy, Jones, Charlotte ” –, “, Trump, ” Haley, Lisa Murkowski, Susan Collins of, Will Trump, Haley’s, Harris, Peter Zay, scoff, Billy Ward, ” Trump, Susie Wiles didn’t, battlegrounds “, ” Wiles, Michael Whatley, Ronna McDaniel, Whatley, MAGA, Thom Tillis, Mark Robinson, Robinson, Roy Cooper, Ben McKeown, Anderson Clayton, ” Clayton, we’ve, ” Anderson, CNN’s Alayna Treene Organizations: North Carolina CNN, Republican, Trump, Democratic, North Carolina Republican Party, GOP, South, Biden, White, College, Duke University, University of North, Getty, Wake County Republican Party, CNN, North, North Carolina GOP, Republican National Committee, Republicans, Gov, state’s Democratic Party, Conservative, “ Locations: Raleigh, North Carolina, Michigan, “ North Carolina, Durham, Wake County, Mecklenburg County, Charlotte, Wake, Mecklenburg, –, Greensboro, Seattle, South Carolina, Alaska, Susan Collins of Maine, Carolina, University of North Carolina, Durham , North Carolina, Anadolu, GOP’s, Raleigh , North Carolina, Russia, Ukraine, Southern

☆ A little-noticed inflation report in the past could get a lot of market attention on Thursday
▼ + stars: | 2024-02-28 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

With markets on edge over the direction of inflation, a report Thursday that often flies under the economic radar is likely to take on more importance. The Commerce Department's measure of personal consumption expenditures prices could add to evidence that inflation is stickier than some economists and policymakers had thought. Two-year inflation breakevens, or the difference between Treasury yields and Treasury Inflation-Protected Securities, have surged in recent days. "But I think the labor market is a lot more fragile than people think. A report Wednesday confirmed that economic growth was solid to close out 2023, with fourth-quarter GDP accelerating at a 3.2% annualized pace adjusted for seasonal factors and inflation.

Persons: Mark Zandi, Zandi, shouldn't, we're, it's, —, Susan Collins, Collins, Dow Jones, Dow, Michelle Cluver, Cluver, I've Organizations: Moody's, Boston, Securities, Treasury, Fed, Labor, CPI, Dow Jones, optimist Locations: U.S

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

LAS VEGAS (AP) — Live updates from the Super Bowl in Las Vegas. Taylor Swift reached LAX in her journey from Tokyo to the Super Bowl, online sleuths sayWill she make it in time? Read moreThree longtime friends have attended every Super Bowl — and don’t intend to stopAs long as they still have each other, they’re still going to go to every Super Bowl. Here’s why millions are excited for Super Bowl SundayMillions of Americans will find something to be excited about when it comes to Super Bowl Sunday. Four in 10 U.S. adults are extremely or very excited for at least one part of the Super Bowl day’s festivities.

Persons: Woo, “, Tony, Susan Chiosso, Tony Chiosso, Taylor Swift, they’ve, Travis Kelce, Patrick Mahomes, Brock Purdy, Brandon Aiyuk, Andy Reid, Purdy, Kyle Shanahan’s, Jimmy Garoppolo, they’re, Don Crisman of, Gregory Eaton of, Tom Henschel, Taylor, Swift, belting, Rhonda LeValdo, Bill Vinovich, Jennifer Anniston, Christopher Walken, Arnold Schwarzenneger, Jenna Ortega, Lionel Messi, Tom Brady, Judy ” Judy Sheindlin, Usher, That’s, Taylor Swift ., Trent Williams savors, Trent Williams, Williams, ___ Organizations: LAS VEGAS, Super, CBS, Nickelodeon, San Francisco 49ers, Area, Kansas City Chiefs, LAX, Intrepid, NFL, Chiefs, 49ers, San Francisco, Kansas City, KC, U.S, NASCAR, Reading Phillies, Super Bowl, Haskell Indian Nations University, Sunday’s, Rams, Saints, Sunday, Associated Press, NORC, for Public Affairs Research, Fame, Pro, Kansas City ., Team, Lahainaluna, School Locations: Las Vegas, Allegiant, Tokyo, Los Angeles, Miami, Don Crisman of Maine, Gregory Eaton of Michigan, Florida, Pennsylvania, Acoma Pueblo, Kansas City, U.S, Washington, Hawaii, Lahaina

☆ Sen. Chris Murphy, who helped broker the failed border security package, says it's 'worrying' that Mitch McConnell couldn't deliver more votes: 'No one is in charge over there'
▼ + stars: | 2024-02-10 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Sen. Chris Murphy said in an interview that "no one" is leading Senate Republicans. "You can't make policy if no one is in charge," Murphy told Politico Magazine. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "I just think it's really worrying that the leader of the Republican Party can't deliver more than four votes." But despite the setback, Murphy told the magazine he remained a "hopeless optimist" regarding the upper chamber.

Persons: Sen, Chris Murphy, Murphy, —, Chris Murphy of, GOP Sen, James Lankford of, Independent Sen, Kyrsten, Mitch McConnell's, That's, — Sens, Susan Collins of, Lisa Murkowski, Mitt Romney, Lankford —, McConnell, Donald Trump's, … Organizations: Republicans, Politico Magazine, Democratic, Service, Republican, GOP, Independent, Senate, Democrats, — Locations: Chris Murphy of Connecticut, James Lankford of Oklahoma, Arizona, Susan Collins of Maine, Alaska, Utah

“And I wonder if there’s a major presidential endorsement coming from an artificially culturally propped-up couple this fall." Conspiracy theories gain the widest attention when they target the most well-known figures and institutions. The latest right-wing conspiracy theories blend Swift with claims about the most watched sporting event in the U.S. and a pivotal presidential election, making any intersection of the events ripe for conspiracy theories. “The good news is people don’t believe in conspiracy theories more than they have in the past. I’ve taken my daughter to Taylor Swift concerts before.

Persons: —, Taylor Swift, “, Vivek Ramaswamy, Travis Kelce, Ryan Allstun, Nikki Haley, Allstun, Donald Trump, Swift, ”, Joe Biden, Matt Gorman, ” Susan Cummins, Haley, Cummins, ” Cummins, Joseph Uscinski, Pied Piper, ” Uscinski, Mellissa, wouldn’t, Best, Uscinski, Biden, Phil Bredesen, Sen, Marsha Blackburn, it’s, credibly, David Jackson, Jackson, Trump, “ Taylor Swift, Karoline Leavitt, Sean Hannity, Leavitt, ” Haley, ” “ Taylor Swift, I’ve, ___ Pollard Organizations: WASHINGTON, Super, Kansas City Chiefs, Green Bay Packers, GOP, Democratic, Swift, Philadelphia Eagles, University of Miami, Trump, Republicans, Tennessee Gov, Democrat, Senate, Republican, Bowling Green State University, Fox News Locations: Lancaster , South Carolina, Charleston , South Carolina, New Jersey, U.S, Florence , South Carolina, Columbia , South Carolina

☆ Dollar oscillates on less dovish Fed comments; China inflation data awaited
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +3 min

In this photo illustration, a person is seen holding 100, 50, and 5 US dollar bills in his hand. The U.S. dollar was trading in a tight range on Thursday as traders digested less dovish remarks from policymakers overnight and looked ahead to fresh economic data from the United States. Attention was also on inflation data out of China in the Asian morning amid concerns about deflation in the world's second-largest economy. Forecasts suggest mixed signals, with year-on-year consumer price deflation expected to have intensified in January but month-over-month prices up at the fastest pace in a year. The offshore Chinese yuan was down 0.11% to $7.2036 per dollar ahead of the data.

Persons: Susan Collins, Tony Sycamore, Sterling, Wei Liang Chang Organizations: U.S, Boston, Traders, IG, Bank of, DBS Locations: United States, China, Asia

☆ Stock futures are little changed after S&P 500 and Dow slide from record highs: Live updates
▼ + stars: | 2024-02-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

S&P 500 futures also inched down 0.1%, while Nasdaq 100 futures slipped just 0.03%. During Monday's main trading session, the S&P 500 lost 0.32%, pulling back from its record high from last week that was powered by megacap tech stocks. "There's a lot of momentum, but I'm worried about [the S&P 500 at] 20 times earnings, and that the Fed's not going to live up to [rate] cut expectations. And I don't see how we get double-digit earnings growth," Doll said on CNBC's "Closing Bell: Overtime" on Monday. On the economic front Tuesday, Wall Street will be keeping an eye out for the New York Fed's household debt and credit report for the fourth quarter.

Persons: Dow, Jerome Powell, Bob Doll, Doll, — I'm, Loretta Mester, Susan Collins, Eli Lilly, Amgen Organizations: New York Stock Exchange, Federal Reserve, Dow Jones, Nasdaq, Palantir Technologies, NXP, Crossmark, Investments, New, Cleveland Fed, Boston Fed, Boeing, Spirit, DuPont, Grill, Ford Locations: New York

Rep. Cori Bush, D-Mo., a key progressive and former Black Lives Matter organizer, is being investigated by the Justice Department for her campaign's spending on security services, she confirmed in a statement Tuesday. As a rank-and-file member of Congress I am not entitled to personal protection by the House, and instead have used campaign funds as permissible to retain security services," Bush continued in her statement. "I have not used any federal tax dollars for personal security services. Any reporting that I have used federal funds for personal security is simply false." Asked about Bush at a leadership news conference, House Democratic Caucus Chair Pete Aguilar, D-Calif., said Tuesday he had no comment and called it "something for the Justice Department."

Persons: Cori Bush, Bush, Louis, Lacy Clay, Cortney Merritts, Susan Cole, William McFarland, I, Cole, Pete Aguilar, Aguilar Organizations: U.S, Capitol, Justice Department, House, DOJ, PunchBowl News, Democratic, Louis Post, Dispatch, Conservative, Federal, Commission, U.S . Department of Justice, Republican, House Democratic Locations: Washington , U.S

But with regard to endorsements, Haley hasn’t necessarily benefited from the Trump holdouts, notably because they haven’t gone as far as to endorse her for the nomination. So while the holdouts might bother him on a personal level, they likely don’t have much influence over the Republican nomination in 2024. Senate Minority Leader Mitch McConnellMcConnell has said he has “essentially stayed out” of the GOP nomination process. 2 Republican, had endorsed Scott as a candidate for the GOP nomination. He’s in a commanding position, and I’ve said all along I’ll support the nominee,” Thune said about Trump on Wednesday.

Persons: Donald Trump, Nikki Haley, Haley, she’s, ” Haley, ”, Trump, Nikki ‘ Birdbrain ’ Haley, ” Trump, MAGA, Haley hasn’t, Chris Sununu, –, Ron DeSantis, Sen, Tim Scott of, Marco Rubio, Sarah Huckabee Sanders, Josh Hawley, Ted Cruz, Lindsey Graham of, John Barasso of, John Cornyn of, Deb Fischer, Nebraska, Mitch McConnell McConnell, McConnell, Mitt Romney, Utah Romney, Romney, hasn’t, Joe Biden, West Virginia Democratic Sen, Joe Manchin, Susan Collins of Maine Collins, Collins, John Thune of, Scott, Thune, “ I’m, I’ve, ” Thune, I’ll, Schumer, ” Sen, Joni Ernst, Iowa Ernst, Ernst Organizations: Republican, South Carolina Gov, Trump, Iowa, Donald Trump View, Republican Party, True American Patriots, New Hampshire Gov, Florida Gov, GOP, Capitol, West Virginia Democratic, John Thune of South Dakota Thune, Senate, Biden Locations: New Hampshire, “, South Carolina, Florida, Tim Scott of South Carolina, Marco Rubio of Florida , Arkansas, Josh Hawley of Missouri, Ted Cruz of Texas, Sen, Lindsey Graham of South Carolina, John Barasso of Wyoming, John Cornyn of Texas, Utah, John Thune of South Dakota, South Dakota, Iowa

☆ These 20 GOP senators still haven't endorsed Trump — and some of them probably never will
▼ + stars: | 2024-01-24 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Yet in the Senate, long a bastion of Republican resistance (or at least hesitancy) to Trump, there are still a number of holdouts. As of January 24, there are still 20 Republican senators — out of 49 total — who have not endorsed Trump's 2024 bid. AdvertisementSome of those senators can be expected to get behind Trump when his nomination becomes official, or at least uncontested. Four current GOP senators — Bill Cassidy of Louisiana, Susan Collins of Maine, Lisa Murkowski of Alaska, and Mitt Romney of Utah — voted to convict Trump for incitement of an insurrection following January 6. AdvertisementYet GOP lawmakers have faced pressure, both from Trump and their voters, to fall in line.

Persons: —, Donald Trump's, Nikki Haley, Haley, Ralph Norman of, Trump's, Trump, Mitch McConnell, Bill Cassidy of, Susan Collins of, Lisa Murkowski, Mitt Romney, Utah —, it's, Sen, Todd Young, Young, JD Vance, Ohio, I've, haven't, John Boozman, Arkansas Shelly Moore Capito, West Virginia Bill Cassidy, Louisiana Susan Collins, Maine Joni Ernst, Chuck Grassley, Iowa Ron Johnson, Wisconsin John Kennedy of, Wisconsin John Kennedy of Louisiana James Lankford of, Wisconsin John Kennedy of Louisiana James Lankford of Oklahoma Mitch McConnell, Jerry Moran, Kansas Lisa Murkowski, Alaska Rand Paul of Kentucky Pete Ricketts, Nebraska Mitt Romney, Utah Mike Rounds, South Dakota Dan Sullivan, Alaska John Thune of, Alaska John Thune of South Dakota Thom Tillis, North Carolina Todd Young Organizations: Service, Republican, Business, Trump, Republicans, Senate, Todd Young of Indiana, New, Nebraska, South Dakota, Alaska John Thune of South Dakota, North Carolina Locations: Iowa, New Hampshire, Ralph Norman of South Carolina, Bill Cassidy of Louisiana, Susan Collins of Maine, Alaska, Utah, Arkansas, West, Louisiana, Wisconsin, Wisconsin John Kennedy of Louisiana, Wisconsin John Kennedy of Louisiana James Lankford of Oklahoma, Alaska John Thune of South, Indiana

☆ Senate GOP offers cautious embrace of Trump amid fears over his electability
▼ + stars: | 2024-01-24 | by ( Manu Raju | Melanie Zanona | ) edition.cnn.com time to read: +8 min

On Tuesday night, the Texas Republican endorsed Trump and called for GOP unity after the New Hampshire primary. “Twenty percent of GOP voters will not vote for him,” the Republican member said. “Independent voters think Biden is weak, but they hate Trump. And that’s exactly what Trump’s going to do,” Sen. Thom Tillis, a North Carolina Republican, told CNN. “And I think President Trump, in many people’s minds, is the answer to that status quo,” he said.

Persons: Sen, John Cornyn, Donald Trump’s, Trump, Trump’s electability, ” Cornyn, “, he’s, ”, John Thune, CNN’s, Nikki Haley, Haley, Biden, Republican holdouts, Trump’s, GOP Sen, Deb Fischer, Brandon Williams, Joe Biden, ” Sen, Thom Tillis, They’re, Lindsey Graham of, Mike Rounds, Fischer, President Trump, Mitch McConnell, McConnell, ” McConnell, I’ve, I’ll, Susan Collins of, ” Collins, she’d, Collins, “ I’m, Donald Trump, J.D, Vance of, Haley’s, What’s, ” Vance, Mitt Romney, Markwayne Mullin, CNN’s Ted Barrett, Sam Fossum, Kristin Wilson, Haley Talbot, Lauren Fox Organizations: Texas Republican, New, CNN, Republicans, GOP, Republican, Trump, South Carolina Gov, House Republican, “, Nebraska, North Carolina Republican, South Dakota Republican, Nebraska Republican Locations: New Hampshire, Iowa, New York, Lindsey Graham of South Carolina, Susan Collins of Maine, Vance of Ohio, Utah, Washington, ” Washington, Oklahoma

☆ AI chatbots are trying to join the race for president
▼ + stars: | 2024-01-22 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe creation of Dean.Bot was funded by the Super PAC We Deserve Better, WaPo reported. Delphi's account was suspended for violating the political rules late Friday, just a day after WaPo wrote about the creation of Dean.Bot. Despite OpenAI's new rules, Dean.Bot won't be the last AI creation we see this election season. The outlet reported that several lawmakers, including Sen. Amy Klobuchar and Sen. Susan Collins, have also introduced congressional proposals to address AI use in advertisements.

Persons: —, OpenAI, Dean Phillips, Dean.Bot, Phillips, shouldn't, Joe Biden, Biden, WaPo, he'd, Sen, Amy Klobuchar, Susan Collins Organizations: Service, Minnesota, Washington Post, Business, Democratic, Super, Delphi, OpenAI Locations: Minnesota

☆ Philippine quake aftershocks force thousands to stay in evacuation centres
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

[1/4] People gather at an evacuation center, in the aftermath of an earthquake, in Hinatuan, Surigao del Sur, Philippines December 2, 2023. "We are scared up to now because of the aftershocks," Alex Arana, disaster agency chief of Surigao del Sur, told DZBB radio station. Two people died -- one as a result of falling debris and another because of a collapsed wall -- and eight were injured in Surigao del Sur, Arana said. As of late on Sunday, more than 108,000 people were staying in 115 evacuation centres in Surigao del Sur, government data show. We choose to stay here at the evacuation centre for now," Susan Clor, a resident of Hinatuan town in Surigao del Sur, told GMA television station.

Persons: Hinatuan, Alex Arana, Arana, Susan Clor, Neil Jerome Morales, Neil Fullick Organizations: REUTERS Acquire, Rights, GMA, Thomson Locations: Hinatuan, Surigao del Sur, Philippines, Handout, Rights MANILA, Tagum, Davao del Norte province, Mindanao, Philippine, Earthquakes

☆ Reaction to the death of former US Supreme Court Justice Sandra Day O'Connor
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +4 min

"Fortunately for us, she set her sights a little higher – becoming the first woman to serve as a U.S. Supreme Court justice. U.S. SUPREME COURT CHIEF JUSTICE JOHN ROBERTS"A daughter of the American Southwest, Sandra Day O'Connor blazed an historic trail as our Nation's first female Justice. SENATOR SUSAN COLLINS“The passing of Justice Sandra Day O’Connor reminds all of us of what an extraordinary woman and justice she was. JUSTIN DRIVER, PROFESSOR AT YALE LAW SCHOOL AND FORMER LAW CLERK TO O'CONNOR"Today, we lost a towering, trailblazing jurist who dramatically improved our nation. SENATOR CHUCK GRASSLEY, FORMER CHAIRMAN AND CURRENT MEMBER OF THE SENATE JUDICIARY COMMITTEE“Justice O’Connor was the first Supreme Court nominee I had the honor of voting for as a senator.

Persons: Sandra Day O'Connor, BARACK OBAMA, Sandra Day, Michelle, JOHN ROBERTS, SUSAN COLLINS “, Sandra Day O’Connor, ” CRISTINA RODRIGUEZ, O'CONNOR, NANCY PELOSI, O’Connor, EUGENE VOLOKH, JUSTIN, Justice O’Connor, CHUCK GRASSLEY, LARRY KRAMER, iCivics, John Kruzel, Andrew Chung, Scott Malone, Alistaiir Bell, Richard Chang Organizations: U.S, Supreme, Stanford Law School, SUPREME, REPUBLICAN U.S, AT YALE, SCHOOL, LAW, UCLA, OF, trailblazer, CIVICS, Thomson Locations: U.S, Arizona, Texas, American, New York

A Virginia man was arrested Wednesday on charges that he stormed the U.S. Capitol while wearing a Captain America backpack and stole items from senators' desks on the Senate floor during the Jan. 6, 2021, riot, court records show. Surveillance video captured Orlando entering the Capitol through a fire door on the west side of the building. He was wearing a black mask and a round Captain America-themed backpack and appeared to be recording video on his phone as he walked around the Capitol. Political Cartoons View All 1273 ImagesOrlando and other rioters entered the Senate chamber around 3 p.m. on Jan. 6, after senators evacuated the floor. C-SPAN footage shows Orlando rifling through and possibly photographing documents from senators' desks, including one belonging to then-Senate Majority Leader Mitch McConnell, R-Kentucky.

Persons: Ryan Joseph Orlando, Sen, Susan Collins, Joe Manchin, didn't, Mitch McConnell, Orlando, Collins Organizations: U.S . Capitol, Congress, Orlando, Capitol, America, SPAN, Police Locations: Virginia, Maine, West Virginia, Orlando, Arlington , Virginia, Kentucky

The minutes will likely include the "superficially hawkish rhetoric" that rates might still move higher, Citi analysts wrote on Sunday in a preview of the release. But "we continue to think that Fed officials are most likely done raising rates this cycle." "Inflation does seem to be settling," Richmond Fed President Thomas Barkin told Fox Business on Monday. But he also felt it was likely to remain "stubborn, and that makes the case for me for being higher for longer." "What I would be looking for is sustained evidence" of inflation in steady decline, Boston Fed President Susan Collins said last week.

Persons: Jerome Powell, Powell, Thomas Barkin, Susan Collins, Collins, Howard Schneider, Paul Simao Organizations: Reuters Graphics Reuters, International Monetary Fund, Citi, Fed, Richmond Fed, Fox Business, Boston, Thomson Locations: U.S

☆ Fed Officials Thought Rates Could Rise More if Inflation Stayed Stubborn
▼ + stars: | 2023-11-21 | by ( Jeanna Smialek | More About Jeanna Smialek | ) www.nytimes.com time to read: +2 min

Wall Street is keenly focused on what officials will do next. Fed policymakers had predicted one more 2023 rate move as of their September economic projections, but investors think that there is little chance they will raise rates at their final meeting of the year on Dec. 12-13. Those, together with remarks from Fed Chair Jerome H. Powell, could provide important clues about the future. As of now, market pricing suggests that Wall Street expects policymakers to begin lowering interest rates at some point in the first half of 2024. Several central bankers have been clear in recent weeks that they aren’t sure they are done raising interest rates.

Persons: Jerome H, Powell, ” Susan Collins Organizations: ”, Federal Reserve Bank of Boston, CNBC

“Any time we’ve had a serious cut to the inflation rate, it’s come with a major recession," Goolsbee said in an interview with The Associated Press. “And so the golden path is a ... bigger soft landing than conventional wisdom believes has ever been possible. Last week, the government reported that inflation cooled in October, with core prices — which exclude volatile food and energy prices — rising just 0.2% from September. The year-over-year increase in core prices — 4% — was the smallest in two years. The Fed tracks core prices because they are considered a better gauge of inflation's future path.

Persons: Goolsbee, we’ve, ” Goolsbee, “, Susan Collins, ” Collins, hasn't Organizations: WASHINGTON, Federal Reserve Bank of Chicago, Associated Press, Wall, Federal Reserve Bank of Boston

☆ Rupee likely to inch up on more dollar losses; eyes oil prices
▼ + stars: | 2023-11-20 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 20 (Reuters) - The Indian rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers. Non-deliverable forwards indicate rupee will open at around 83.24-83.25 to the U.S. dollar, compared with 83.27 in the previous session. The dollar index fell 1.8% last week, the worst performance since mid-July. Asian currencies were mostly higher"It looks like it is setting up to be like last week.. rupee will do much in the face of the dollar's struggles," a forex trader at a bank said. "And let's say, for whatever reason, the dollar turns later this week, then too the rupee will not budge.

Persons: Brent, Mary Daly, Susan Collins, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Federal Reserve, Fed, San Francisco Fed, Boston, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S

The S&P 500 (.SPX), the Nasdaq (.IXIC) and the Dow (.DJI) registered their third straight week of gains. For the week, the S&P 500 added 2.2% while the Nasdaq composite rose 2.4% and the Dow climbed 1.9%. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 15, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsEnergy, finishing up 2.1%, was the biggest percentage gainer among the 11 major S&P 500 sectors as oil prices settled up more than 4%. The S&P 500 posted 18 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 55 new highs and 97 new lows.

Persons: Michael Barr, Mary Daly, Susan Collins, Robert Phipps, Per Stirling's Phipps, Dow, Jack McIntyre, Brendan McDermid, Russell, Rick Wilmer, Sinéad Carew, Shristi, Maju Samuel, Pooja Desai, David Gregorio Our Organizations: Dow, Nasdaq, Federal, San Francisco Fed, Boston Fed, Applied Materials, U.S . Justice, Stirling, Dow Jones, Brandywine Global, Traders, New York Stock Exchange, REUTERS, Rights Energy, Technology, Microsoft, Ross Stores, Old Navy, ChargePoint Holdings, NYSE, Thomson Locations: U.S, China, Austin Texas, Philadelphia, New York City, New York, Bengaluru

Federal Reserve Bank of Boston President Susan Collins stands behind the Jackson Lake Lodge in Jackson Hole, where the Kansas City Fed holds its annual economic symposium, in Wyoming, U.S., August 24, 2023. Collins joins a growing set of Fed officials who have started preaching patience in considering any further rate hikes. But, she said, "there's been some promising evidence of inflation coming down," with goods price increases moderating, and shelter inflation likely to ease as well. There has been less progress on services inflation, Collins said, adding "I don't take off the table the possibility" that rates may need to rise again. I remain optimistic that we can bring inflation down in a reasonable amount of time without requiring a large increase" in unemployment, she said.

Persons: Susan Collins, Ann Saphir, Collins, there's, Howard Schneider, Dan Burns, David Gregorio Our Organizations: Reserve Bank of Boston, Kansas City Fed, REUTERS, Rights BOSTON, Boston Federal, Fed, Thomson Locations: Jackson, Wyoming, U.S

Speaking on CNBC, Boston Fed President Susan Collins also said the U.S. central bank must be "patient and resolute, and I wouldn't take additional firming off the table." Inflation by the Fed's preferred measure was 3.4% in September, down from its 7.1% peak last summer, but above the central bank's target. And he expressed increased confidence that the Fed can meet its inflation goal without the kind of rise in unemployment seen in the U.S. central bank's prior battles with inflation. Speaking on Thursday, Cleveland Fed President Loretta Mester, one of the central bank's more hawkish policymakers, said she had not yet assessed whether she would continue to pencil in a further rate hike. Fresh economic and interest rate projections are due to be the released at the Dec. 12-13 policy meeting.

Persons: Mary Daly, Daly, Susan Collins, Collins, Austan Goolsbee, Loretta Mester, Ann Saphir, Michael S, Pete Schroeder, Dan Burns, Balazs Koranyi, Paul Simao Organizations: Federal, San Francisco Fed, CNBC, Boston, Deutsche Bank, Chicago Fed, Fed, Cleveland Fed, Derby, Thomson Locations: Frankfurt, Germany, U.S

Research prepared for a Boston Federal Reserve labor market conference found that whether driving for Uber to make ends meet or taking piecework jobs in retirement, casual contract workers sometimes don't consider themselves "employed" or even a part of the labor force. The research involved reexamining the detailed responses to a New York Fed survey of "informal work" from 2015 through 2022. Other research looked at how job training and policies towards employing those with a criminal record might help. Their research found many gig workers want additional hours of formal employment, suggesting more untapped labor supply. "And the higher levels of activity and participation can benefit those brought into the labor market, contributing to a vibrant economy that works for all."

Persons: Mike Segar, Uber, Anat Bracha, Mary A, Burke, Bracha, rehashed, Jerome Powell, Susan Collins, Collins, Howard Schneider, Dan Burns, Paul Simao Organizations: REUTERS, Rights BOSTON, Federal, Boston Federal Reserve, Hebrew University Business School, Boston Fed, Fed, New, Labor, Boston, Thomson Locations: New York City , New York, U.S, Jerusalem

☆ Morning Bid: Treasury yields dive as oil craters, economy softens
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +5 min

U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too. Crude has now lost almost 25% in just six weeks - aided by the U.S. gradually lifting oil sanctions on Venezuela. The Labor Department said import prices fell a whopping 0.8% in October, the most in seven months amid a broad decline in the costs of goods - deepening the annual deflation of import prices to as much as 2.0%. Even though the dollar (.DXY), , is taking a hit from the plunge in U.S. Treasury yields, the drop in sovereign borrowing rates was mirrored across the world in Europe , even Japan . Mirroring the softening demand picture elsewhere, British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home.

Persons: Lucas Jackson, Mike Dolan, plumb, Morgan, Susan Collins, Mary Daly, Austan Goolsbee, Michael Barr, Dave Ramsden, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Walmart, Cisco, Alibaba, Philadelphia Federal Reserve, Labor Department, Treasury, Hong, Housing, Atlanta, Boston Federal, San Francisco Fed, Chicago Fed, Bank of England, United States, APEC, Graphics, Thomson, Reuters Locations: New York, U.S, Wall, Alibaba ., Venezuela, Europe, Japan, HK, Hong Kong, China, San Francisco

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