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Valerie Plesch | Picture Alliance | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Sentiment in markets, it seems, was buoyed by encouraging comments from the Fed. The Fed, in other words, is keeping a close eye on the economy and wants to make sure it maintains its smooth landing. It's as if Stephen Sondheim's musical "Into the woods to get the money," markets are merrily singing.
Persons: Valerie Plesch, Gregory Daco, Goldman Sachs, Stephen Suttmeier, Philip Jefferson reemphasized, we're, Mike Bailey, Stephen Sondheim's, Jeff Cox, Samantha Subin, Sarah Min Organizations: Federal Reserve, Getty, CNBC, Brent, Bank of America, Dow Jones Industrial, Nasdaq, Apple, Micro Computer, Fed, FBB Capital Partners Locations: USA, Washington, Florida, U.S, Israel
This New Zealand home inspired Hawthorne to build a glass house in San Diego and another one in North Carolina. The design for the glass house had been on my mindHawthorne took some inspiration from Phillip Johnson's Glass House in Connecticut. It is somewhat based off Philip Johnson's Glass House, which has been one of my favorite architectural projects of all time. I planted a maple tree on our dock, which has become a destinationThe maple tree is watered by a Wi-Fi-operated irrigation system. We're renting out the glass house, but I dream of growing old thereWe drove the Airstream back to San Diego and came back here full-time in early August.
Persons: , Andrew Hawthorne, Maya, Hawthorne, Andrew Hawthorne I'm, Andrew, Maya Hawthorne, let's, Phillip Johnson's, Philip Johnson's, Gaston, That's, I'm, I'd, it's, Lake Gaston, It's, We've, Andrew Hawthorne . Organizations: Service, Business, San, Lake Gaston, YouTube Locations: North Carolina, New Zealand, Hawke's, Zealand, San Diego, Park City , Utah, Lake Gaston, Raleigh, Connecticut, Zillow, Lake, NICU
The National Hurricane Center says Beryl is expected to be an “extremely dangerous” Category 4 hurricane when it reaches the Windward Islands by late Sunday or early Monday. A tropical storm warning has been issued for Martinique, and a tropical storm watch is in effect for Dominica. The first hurricane of the season is unusually earlyBeryl’s rapid intensification is very unusual this early into hurricane season, according to Brennan. If Beryl reaches Category 4 intensity before Thursday, July 4, it would be the earliest recorded Category 4 hurricane in the Atlantic. Cars line up at a gas station Saturday in Bridgetown, Barbados, as hurricane Beryl approaches.
Persons: Beryl, ” Mike Brennan, CNN’s Fredricka Whitfield, Brennan, Vincent, “ Beryl, ” Brennan, , Wilfred Abrahams, Chandan Khanna, Ralph Gonsalves, ” Gonsalves, Saint Lucia, Philip J, Pierre, Phil Klotzbach, that’s “, Organizations: CNN, National Hurricane Center, NHC, National Oceanic, Hurricane Center, NOAA, Home Affairs, Getty, National Disaster Management Agency, Colorado State University, Weather Service Locations: Barbados, Windward, Islands, Windward Islands, Caribbean, St, Lucia, Grenada, Tobago, Martinique, Dominica, Lesser, Atlantic, El, Bridgetown, Grenadines, “ Kingstown, , Saint, Pacific
Beryl is first hurricane of 2024 Atlantic season
  + stars: | 2024-06-28 | by ( Eric Zerkel | Sara Tonks | ) edition.cnn.com   time to read: +7 min
CNN —Beryl is the first hurricane of the 2024 Atlantic season, with maximum sustained winds of 75 mph with stronger gusts, according to a 5 p.m. EST update from the National Hurricane Center. That this formed so early in the season – and in this part of the Atlantic – is a sign of the hyperactive hurricane season to come, according to research from Phil Klotzbach, a hurricane expert and research scientist at Colorado State University. Normally, ocean temperatures aren’t warm enough in this region in June and July to help tropical systems thrive. That’s hardly the case this year, and one of the reasons behind record-high hurricane season forecasts over the past few months. Both have low odds of developing over the next week, but given the unusual early season action and favorable ocean temperatures, they will have to be watched closely.
Persons: Beryl, St Lucia, Vincent, Philip Klotzbach, Phil Klotzbach, “ Beryl, ” Dr, Mike Brennan, CNN’s Fredricka Whitfield, ” Brennan, , , El Niño, Wilfred Abrahams, Saint Vincent, Ralph Gonsalves, ” Gonsalves, Saint Lucia, Philip J, Pierre Organizations: CNN, National Hurricane Center, Lesser, St, Colorado State University, National Oceanic, Hurricane Center, NHC, Home Affairs, National Disaster Management Agency Locations: Barbados, Windward, Caribbean, Islands, St, Grenadines, Grenada, Martinique, Tobago, Mexico Gulf, Lesser, El, Mexico, “ Kingstown, , Saint
By no means am I interested in tackling any impact policy differences may have upon non-market related subjects. Monetary policy So let's begin with monetary policy. Fiscal policy Now let's turn to fiscal policy. Trade policy Trade policy is easy. Regulatory policy Finally, the big kahuna, regulatory policy.
Persons: Donald Trump, Joe Biden, Clinton, Christopher Waller, Michelle Bowman —, Jerome Powell, Janet Yellen, Powell, Biden, Lisa Cook, Philip Jefferson, Bill Dudley's, Covid, Trump, Cato, Stocks Organizations: Trump, Federal Reserve, Fed, Trump Fed, Bloomberg, Democratic, Heritage, AEI, Biden Locations: China
Fed officials aren’t easing Wall Street’s nerves
  + stars: | 2024-05-22 | by ( Bryan Mena | ) edition.cnn.com   time to read: +4 min
Optimism spurred by the latest inflation data pushed all three major stock indexes to new record highs. But now Wall Street, eager for rate cuts, is on edge again. But some financial leaders remain doubtful that the Fed is feeling confident enough to cut rates soon. “I think we’re set up for stickier inflation.”Some Fed officials say another rate hike isn’t likelyFed officials have mostly sounded a little more optimistic about inflation recently, after the Consumer Price Index for April finally provided some welcome news. Cleveland Fed President Loretta Mester told Bloomberg on Monday that she also thinks interest rates are high enough to deal with inflation.
Persons: they’re, Dow, Christopher Waller, ” Waller, Goldman Sachs, David Solomon, “ I’m, , , Philip Jefferson, Mary Daly, Axios, Jerome Powell, Klaas Knot, Loretta Mester, Chris Larkin Organizations: Washington CNN, Federal Reserve, CNBC, , Peterson Institute for International Economics, Boston College, Mortgage, Association, ” San Francisco Fed, European Central Bank Governing, Cleveland Fed, Bloomberg, Locations: ” San
ET, the yield on the 10-year Treasury was down by less than one basis point to 4.4335%. The 2-year Treasury yield was last at 4.8371% after rising by less than one basis point. U.S. Treasury yields were little changed on Tuesday as investors considered the path ahead for inflation and interest rates following a series of remarks from Federal Reserve speakers. Investors assessed the state of the economy, especially regarding inflation, and how this may affect interest rates. On the data front, existing as well as new home sales figures and durable goods orders data are due this week.
Persons: Philip Jefferson, Michael Barr, Barr Organizations: Treasury, Federal Reserve, Investors, Fed
Oil storage drums stacked in the Keihin industrial area of Kawasaki, Kanagawa Prefecture, Japan, on Monday, April 15, 2024. Oil prices fell in early Asian trade on Tuesday, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand. "Fears of weaker demand led to selling as the prospect of Fed rate cut became more distant," said analyst Toshitaka Tazawa at Fujitomi Securities. Lower interest rates reduce borrowing costs, freeing up funds which could boost economic growth and demand for oil. OPEC+ could extend some voluntary output cuts if demand fails to pick up, people with knowledge of the matter previously told Reuters.
Persons: Toshitaka Tazawa, Philip Jefferson, Michael Barr, Raphael Bostic, Ebrahim Raisi, Ayatollah Ali Khamenei, Mohammed Bin Salman, Fujitomi's Tazawa Organizations: Brent, . West Texas, Federal, Fujitomi Securities, Atlanta Fed, Reuters, Saudi Arabia's Crown, Iranian, Investors, Organization of, Petroleum Locations: Kawasaki, Kanagawa Prefecture, Japan, Saudi, OPEC
Wealthy Americans are starting to spend more carefully
  + stars: | 2024-05-19 | by ( Bryan Mena | ) edition.cnn.com   time to read: +7 min
A robust stock market coupled with rising home values have boosted Americans’ wealth from 2019 through 2022, according to a Federal Reserve report on household finances. There’s been some evidence of wealthy Americans growing cautious in the latest round of company earnings results. Federal Reserve officials Michael Barr, Christopher Waller, Philip Jefferson and Raphael Bostic deliver remarks. Federal Reserve officials Christopher Waller, John Williams, Raphael Bostic, Michael Barr, Loretta Mester and Susan Collins deliver remarks. The Federal Reserve release minutes from its May policymaking meeting.
Persons: they’ve, , ” Nanette Abuhoff Jacobson, There’s, ” Jonathan Akeroyd, Moet, The Beverly Hilton, Michael Kovac, LVMH Moët Hennessy Louis Vuitton, , Jacobson, ’ Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, Matt Egan, Read, Michael Barr, Christopher Waller, Philip Jefferson, Raphael Bostic, John Williams, Loretta Mester, Susan Collins, Robin, Ralph Lauren, Booz Allen Hamilton, Buckle Organizations: CNN Business, Bell, Washington CNN, Federal, Fed, Hartford Funds, CNN, Burberry, The Beverly, The Beverly Hilton Hotel, Walmart, Royal Caribbean Cruises, Jackson State University, Federal Reserve Bank of New, Palo Alto Networks, Urban Outfitters, NVIDIA, National Statistics, National Association of Realtors, Reserve, Intuit, US Labor Department, Chicago Fed, Global, US Commerce Department, Atlanta Fed, Booz, University of Michigan Locations: Washington, British, Americas, Beverly Hills , California, Jackson , Mississippi, Federal Reserve Bank of New York, Palo, Ross, Burlington
LONDON — Shares of BT Group surged Thursday after the firm announced a target of a further £3 billion ($3.8 billion) in cost savings. BT shares were up 14.9% at 12:40 p.m. London time after CEO Allison Kirkby said the company had passed peak capital expenditure on its fiber broadband rollout and achieved its £3 billion cost and service transformation program "a year ahead of schedule." BT posted revenue of £20.8 billion ($26.3 billion) for the year to March, up slightly from £20.7 billion in the previous year. The firm is now targeting a further £3 billion in cost savings by the end of the full-year 2029. BT is looking to simplify the company as part of the next phase of its transformation program.
Persons: Allison Kirkby, Kirkby, Philip Jansen, Jansen Organizations: BT Group, BT Locations: London, Kirkby
On a one-year basis, the expectation increased to 3.3%, up 0.3 percentage point from March and the highest since November 2023. However, expected increases in housing prices are particularly troublesome for policymakers who expected shelter costs to ease this year. Along with expected higher home costs, respondents see rents rising 9.1%, up 0.4 percentage point from the prior month. They expect food prices to increase 5.3% (up 0.2 percentage point from a month ago), gasoline to rise 4.8% (up 0.3 percentage point); and college education to increase by 9%, a 2.5 percentage point surge. Economists surveyed by Dow Jones expect the all-items CPI to show a 3.4% increase for April from the prior year, down 0.1 percentage point from March.
Persons: Philip Jefferson, Dow Jones Organizations: Costco, Consumers, New York Federal Reserve, University of Michigan, Labor Locations: Novato , California, New, New York
Gen Z is getting hit hard by inflation
  + stars: | 2024-05-12 | by ( Krystal Hur | ) edition.cnn.com   time to read: +8 min
For Gen Z, it was the Covid-19 pandemic. Why are we seeing that Gen Z is tapping into their credit more than their Millennial counterparts 10 years ago? Most Gen Z consumers are not homeowners. And so I think that’s been a big cause of what’s been driving a lot of that financial strain that Gen Z consumers have seen. The key is to not use the personal loans to pay off credit card debt and then run your credit card bills right back up after you do that.
Persons: TransUnion, Zers, Millennials, Gen Zers, Bell, Charlie Wise, we’ve, haven’t, You’re, Rishi Sunak, Hanna Ziady, Anna Cooban, Philip Jefferson, Loretta Mester, Jack, Neel Kashkari Organizations: CNN Business, Bell, New York CNN, Gross, Office, National Statistics, Bank of England, P, Federal, Cleveland Fed, Depot, US Labor Department, Cisco Systems, US Commerce Department, National Association of Home Builders, Index, Minneapolis, Walmart, Applied, Co, Baidu, Board Locations: New York, Kingdom, Wells Fargo
Dow Jones Industrial Average futures sat near flat Tuesday night after the blue-chip average clinched its longest winning streak since December. S&P 500 futures and Nasdaq 100 futures also both traded near flat. The Dow ticked higher by nearly 0.1% and posted its fifth positive session, which marks its longest winning run going back to December. The S&P 500 also inched up by about 0.1%, while the Nasdaq Composite slipped 0.1%. Nearly 85% of S&P 500 corporations have already shared quarterly results this earnings season.
Persons: Reddit, Dow, Adam Crisafulli, Uber, Philip Jefferson, Susan Collins, Lisa Cook Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Wynn Resorts, Treasury, Disney, Vital, AMC, Traders, Federal, Boston
An Opaque Philip Johnson House Reopens After 15 Years
  + stars: | 2024-05-03 | by ( Suleman Anaya | ) www.nytimes.com   time to read: +1 min
The architect Philip Johnson’s Glass House, a rectangular glass-and-steel residence set on a grassy shelf above a wooded bluff in New Canaan, Conn., has epitomized a certain East Coast ideal of midcentury elegance since its completion in 1949. The home also established Johnson himself as the paragon of a specific type of New York architect: erudite, absolutist in his refinement and formidable in his influence wielding, shaping careers, institutions and public opinion like few others in his field. But since the National Trust of Historic Preservation opened the Glass House to the public as a museum in 2007, visitors have discovered there’s more to the place than its namesake centerpiece. For the past 15 years, however, a pivotal part of the estate has remained semi-concealed: Johnson’s guesthouse, known as the Brick House and situated just 80 feet from the site’s main attraction, has been closed to the public because of water damage. Now, after an extensive restoration and in time for the Glass House’s 75th anniversary, the building has finally been unveiled.
Persons: Philip Johnson’s, Johnson, David Whitney Organizations: MoMA, paragon, National Trust of Historic Preservation, Brick Locations: New Canaan, Conn, York
Though it was unthinkable just a short time ago, the question of what it would take the Federal Reserve to raise interest rates further is gaining increasing attention. New York Fed President John Williams faced questioning Thursday about hiking and said he doesn't expect that to happen, but noted that it's always an option. "Basically, if the data were telling us that we would need higher interest rates to achieve our goal, then we would obviously want to do that." Making the same mistake as the 1970s central bank — hiking rates to fight inflation, then cutting prematurely and allowing inflation to return — is a sensitive issue for the Powell Fed. Chances are low, for now So far, only Fed Governor Michelle Bowman has given any credence to the notion of raising rates.
Persons: John Williams, it's, Williams, Jerome Powell, Philip Jefferson, Powell, Nicholas Colas, Colas, Michelle Bowman, Bowman, Esther George Organizations: Federal Reserve, Fed, New York Fed, Summit, DataTrek, CME, Kansas City, CNBC Locations: Washington, Kansas
At the architect Philip Johnson’s former estate in New Canaan, Conn., there has long been a Glass House and a Brick House. Now there’s also a Paper House. The Pritzker Prize-winning Japanese architect Shigeru Ban’s Paper Log House, to be exact. An exhibition of this simple, low-cost structure — designed in 1995 to house victims of the Great Hanshin Earthquake in Kobe, Japan — opens this week and runs through Dec. 15, as part of activities marking the 75th anniversary of the Glass House, which Johnson completed in 1949. (The Brick House, also completed in 1949, is scheduled to reopen following restoration work on May 2.)
Persons: Philip Johnson’s, there’s, Shigeru Ban’s, Japan —, Johnson Organizations: Great Hanshin, Glass Locations: New Canaan, Conn, Kobe, Japan
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUS futures were little changed on Tuesday morning after a losing start to the week for all three major indices on Monday as investors worried about the Israel-Iran conflict. Nasdaq 100 futures were also level, while Dow Jones Industrial Average futures fell 0.1%. The combination of solid retail sales data and the risk-off nature of the Israel-Iran conflict saw yields on treasuries advance three basis points the previous day. Elsewhere, the release of strong March retail sales data on Monday signaled the resilience of the US economy, but also pushed back chances that the Fed will cut interest rates in June.
Persons: Morgan Stanley, , Jerome Powell, Philip Jefferson, Johnson Organizations: Bank of America, Service, Nasdaq, Dow Jones Industrial, Dow, Treasury, Federal, IMF, United Health, Johnson Locations: Israel, Iran
Interest rates are currently nestled at a 23-year high after the Fed launched an aggressive rate-hiking campaign two years ago. Inflation is down considerably from a four-decade peak reached in the summer of 2022, but recent inflation reports have shown persistent price pressures in services and housing. First rate cut in the summer? Wall Street already wasn’t betting on a rate cut in May, but some analysts are estimating the first cut could come some time in the summer. Analysts at Goldman Sachs, JPMorgan and Nomura are estimating a first rate cut in July.
Persons: Jerome Powell, , Powell, , ” Quincy Krosby, don’t, hasn’t, Goldman Sachs, Philip Jefferson Organizations: Washington CNN, Federal, Wilson, Fed, Congress, LPL, Atlanta Fed, Goldman, JPMorgan, Nomura, Bank of America, Barclays, Deutsche Bank, Locations: Wells Fargo, rebalance
Diptych, dyad, dialectic: The relationship between the first pair of buildings Philip Johnson designed for his estate in New Canaan, Conn., has taxed the metaphorical imaginations of critics and architectural historians since the structures were completed, just months apart, in 1949. On one side, the Glass House, transparent and entirely self-possessed, a work of modernist daring framed in steel and inspired, as Johnson was only too happy to admit, by the designs of his hero, the German architect Ludwig Mies van der Rohe. On the other, the Brick House, sometimes called the Guest House, hiding behind its inscrutable exterior the bedroom Johnson called his “sex room,” as well as the mechanical equipment serving its more glamorous relative 105 feet away. Point, counterpoint. You could write a book about the Freudian relationship between the two buildings, linked by a tunnel carrying water and power — a connection Johnson called the “umbilical cord.” And in fact somebody has: Adele Tutter, associate clinical professor of psychiatry at Columbia University, whose 2016 study “Dream House: An Intimate Portrait of the Philip Johnson Glass House” observes that the architect, fully exposed “in his transparent house, nevertheless remained ever-connected to a source of warmth and sustenance, hidden behind a forbidding and impenetrable facade, in a house of earthen brick.”
Persons: Philip Johnson, Johnson, Ludwig Mies van der, Adele Tutter Organizations: Glass, Brick, Columbia University, Philip Johnson Glass Locations: New Canaan, Conn, Ludwig Mies van der Rohe
Calmness leads to splendor.”Across a five-decade career, Yamamoto has dedicated himself to fostering community in Japan’s rapidly expanding cities. After designing a succession of private homes in his early career, Yamamoto completed his first social housing project, in the coastal city of Kumamoto, in 1991. The central public space has no gates and can only be reached by passing through the housing blocks, a scheme designed to increase the likelihood of chance encounters. Completed in 1991, Hotakubo Housing in Kumamoto, Japan, was Yamamoto’s first social housing project. The Japanese architect will be awarded with $100,000 and a bronze medallion.
Persons: Riken Yamamoto, Yamamoto, Alejandro Aravena, Pritzker, Kenzo Tange, ” Yamamoto, , , Philip Johnson, ’ “, David Chipperfield, Francis Kéré Organizations: CNN, Pritzker, Hotakubo, Saitama Prefectural University, Future University, Des, Des Moines Public Library, Neues Locations: Japan, Japan’s, Shinonome, Tokyo, Africa, America, metropolises, Yokohama, Tosu, Kumamoto, Seongnam, South Korea, Hiroshima, Koshigaya, Hakodate, Europe, Edo, Nishi, China, Switzerland, British, Des Moines, Iowa, Berlin
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's Philip Jefferson: Disappointing January CPI highlights that process is likely to be bumpyCNBC's Steve Liesman reports on the latest comments from the Federal Reserve.
Persons: Philip Jefferson, Steve Liesman Organizations: Federal Reserve
High interest rates squeeze companies of all sizes, but that’s especially the case for smaller firms, unlike large companies better equipped to weather the storm. Before the Bell: How do the effects of higher-for-longer interest rates on companies vary by size? I think it might be a stretch to say that M&A activity picks up because of higher interest rates, so instead, it’s that if good businesses are beginning to suffer because of higher interest rates, then they might be more likely to be a target. Gas prices always rise as winter winds down because demand increases and gas stations must switch over to more expensive summer fuel. No matter the cause, rising gas prices are bad news for consumers already frustrated by the cost of living.
Persons: It’s, Bell, Lauren Goodwin, Matt Egan, , Patrick De Haan, doesn’t, ” Read, Raphael Bostic, Michelle Bowman, Philip Jefferson, Patrick Harker, Lisa Cook, Neel Kashkari, Christopher Waller Organizations: CNN Business, Bell, DC CNN, Federal Reserve, New York Life Investments, AAA, , HSBC, Walmart, Home Depot, Barclays, Caesars Entertainment, Nvidia, Rivian, Fidelity, Marriott, Intuit, Pacific Gas & Electric, Global, Chicago Fed, US Labor Department, National Association of Realtors, Warner Bros ., Icahn Enterprises Locations: Washington, Wingstop, United States
SummaryCompanies UK business investment has lagged since Brexit"Largest business tax cut" in modern history-HuntTax break costs 11 bln stg a yearOBR forecasts 3 bln stg a year investment boostLONDON, Nov 22 (Reuters) - Britain's finance minister Jeremy Hunt made a tax break for business investment permanent on Wednesday, aiming to kickstart growth in the country's sluggish economy. Hunt hopes that by making permanent the tax break known as "full expensing", companies will spend more on new kit and technology, lifting productivity. This is the largest business tax cut in modern British history," Hunt said in his Autumn Statement on Wednesday. BT (BT.L), a beneficiary of the tax break as it is investing billions in building a new fibre network, welcomed Hunt's move. British business investment has trailed that of other developed economies, according to research from the International Monetary Fund.
Persons: Jeremy Hunt, Hunt, Hunt's, Philip Jansen, Jessica Taylor, Handout, Stephen Phipson, Robert Forrester, David Milliken, Kylie MacLellan, Sarah Young, Kate Holton, Alex Richardson Organizations: LONDON, BT, Labour, Conservatives, Britain's, REUTERS Acquire, International Monetary Fund, Vertu, BBC Radio, Thomson Locations: Britain, London, British
"Under plausible assumptions the size of the balance sheet could decline considerably further before reserves reach the level consistent with the ample reserves operating framework," Jefferson wrote in response to a series of questions from Scott about the roughly $8 trillion balance sheet. The senator also wrote letters to Fed Governors Lisa Cook and Adriana Kugler at the same time. Fed officials who have spoken on the matter have said the balance sheet can be reduced for an extended period. Speaking after the central bank's Oct. 31-Nov. 1 policy meeting, Fed Chair Jerome Powell said it was "not considering changing the pace of balance sheet runoff. Many market participants are eyeing next year or maybe 2025 as a potential time to end the drawdown of the balance sheet.
Persons: Philip Jefferson, Jefferson, Rick Scott, Scott, Lisa Cook, Adriana Kugler, Cook, Kugler, Jerome Powell, Loretta Mester, General, Michael S, Dan Burns, Paul Simao Organizations: Federal, Republican U.S, Fed, Reuters, Federal Reserve, Cleveland Fed, Thomson Locations: Jefferson
Morning Bid: Murky US inflation picture
  + stars: | 2023-11-14 | by ( ) www.reuters.com   time to read: +6 min
According to consensus forecasts at least, U.S. headline inflation is expected to have retreated sharply again in October back toward midyear lows around 3.3%. But underlying 'core' inflation is expected to stay stickier at an unchanged annual rate of 4.1% last month and still more than twice the Fed's target. But the Fed may want to hang tough long enough into a slowing economy to ensure that inflation is squeezed back to its 2% goal. And perhaps the negative tilt on October core inflation going into today's release leaves more room for a positive surprise. The International Energy Agency on Tuesday raised its oil demand growth forecasts for this year and next despite the weakening economic picture.
Persons: Lucas Jackson, Mike Dolan, Goldman Sachs, Xi Jinping, Joe Biden, Biden, Xi, Shunichi Suzuki, Philip Jefferson, Loretta Mester, Austan Goolsbee, Michael Barr, Huw Pill, Christina Fincher Organizations: New York Stock Exchange, REUTERS, New, Bank of America's, Treasury, International Energy Agency, U.S, Economic Cooperation, Reuters, Bank of Japan, Japan's Finance, Home, Federal, Cleveland Fed, Chicago Fed, Banking, Housing, Urban Affairs, Bank of England, Thomson Locations: New York, U.S, California, San Francisco, Asia, China, Japan, Teck, United States
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