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☆ Elon Musk hypes $30,000 Tesla self-driving Cybercab and larger Robovan at robotaxi event
▼ + stars: | 2024-10-10 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

After a decade of unfulfilled promises about driverless vehicles, Tesla CEO Elon Musk hyped the company's Cybercab concept on Thursday night, showing off a low, silver two-seater with no steering wheels or pedals. Musk offered no details about exactly where Tesla plans to produce the cars, but said consumers would be able to buy a Tesla Cybercab for below $30,000. FSD, which stands for Full Self-Driving, is Tesla's premium driver assistance system, available today in a "supervised" version for Tesla electric vehicles. Musk also revealed plans to produce an autonomous, electric Robovan that can carry up to 20 people, or be used to transport goods. He said the Cybercab and Robovan would employ inductive charging, meaning these autonomous vehicles could roll up to a station to recharge, with no plugging in required.

Persons: Elon Musk, Musk, Tesla Organizations: Tesla, Warner Bros, FSD Locations: Burbank , California, Texas, California

☆ I flew a Boeing 737 Max simulator and it gave me a new respect for just how hard being a pilot really is
▼ + stars: | 2024-10-05 | by ( Pete Syme | ) www.businessinsider.com time to read: +6 min

I tried out two flight simulators, including one for a Boeing 737 Max. AdvertisementI write about planes nearly every day at Business Insider, but trying out a Boeing 737 Max flight simulator gave me new insights into just how much skill and dedication is required to be a pilot. I was helped along the way by Matthew Yemm, a Skyborne flight instructor who spent a decade in the Royal Navy. Flying the 737 MaxThe more imposing simulator was that of a Boeing 737 Max. The entrance to the Boeing 737 Max simulator.

Persons: —, Matthew Yemm, Pete Syme, Max, Nick Heard, Skyborne, it's enthralling, Heard, wasn't, I'd Organizations: Boeing, Service, Business, Max, Gloucestershire Airport, Royal Navy, Royal Air Force, Cathay Pacific, MCC Locations: England, Gloucestershire

☆ Tesla set to report Q3 deliveries ahead of robotaxi event
▼ + stars: | 2024-10-01 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +5 min

Analysts are expecting Elon Musk's automaker to report about 463,310 deliveries, according to estimates compiled by FactSet StreetAccount. Tesla reported deliveries of 435,059 and production of 430,488 vehicles for the same period a year ago, before it was selling the Cybertruck. More recently, Tesla reported deliveries of 443,956 and production of 410,831 vehicles for the second quarter of 2024. Goldman Sachs last week said it expects Tesla deliveries and production "to come in-line with consensus, largely driven by the strength in the China market." Tesla brand erosionSome customer interest in buying Tesla vehicles has been chilled by the brand's strong association with Musk.

Persons: Elon Musk, Tesla, Elon, FactSet StreetAccount, Wells, Goldman Sachs, tacking, Musk —, —, he's, Donald Trump, Musk, Mike DeWine Organizations: Trump, Tesla's, EVs, Warner Bros, Baidu, SpaceX, Associated Press, CNN, NBC News, The New York Times, Twitter, The Washington Post, Springfield Police Division, Ohio Gov, Pew Research Locations: Manhattan , New York, U.S, China, Los Angeles, Springfield , Ohio

☆ Stellantis shares plunge as carmaker follows Volkswagen in profit warning
▼ + stars: | 2024-09-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

Stellantis said it would reduce inventory levels in the United States and ship 200,000 fewer vehicles to North American dealers in the second half of 2024 than in the same period last year. Volkswagen said earlier this month that around 2 million fewer cars are being sold in Europe per year compared with pre-pandemic levels. Volkswagen itself is selling 500,000 fewer cars annually in the region, the equivalent of around two car plants. “To remain competitively viable, we have to comprehensively restructure Volkswagen… because the situation is serious,” the company said last week. “Volkswagen has to increase efficiency and reduce costs.”For Stellantis, Monday’s profit warning is the latest piece of bad news.

Persons: American carmaker, Ram Trucks, Stellantis, Volkswagen’s, Aston Martin Lagonda Organizations: London CNN —, Chrysler, Milan, Citroen, Peugeot, North, Volkswagen, Aston, IG Metall, United Auto Workers Locations: American, North America, United States, North American, China, London, Europe, Detroit

☆ Warren Buffett's death plan dodges taxes and will make his kids 'philanthropic titans,' says wealth inequality guru
▼ + stars: | 2024-09-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

This story is available exclusively to Business Insider subscribers. On the positive side, he's not creating private wealth dynasties. But his children will become philanthropic titans by wielding taxpayer-subsidized private power through enormous charitable foundations upon his death. A progressive annual wealth tax, with rates becoming steeper as wealth goes above $1 billion. A cap on the charitable deduction so that wealthy people, like Buffett, don't get to opt out entirely of paying taxes.

Persons: —, Warren Buffett, Berkshire Hathaway, he's, Chuck Collins, Buffett, Collins, Bill Gates, don't Organizations: Service, Business, Institute for Policy Studies, Berkshire Locations: Berkshire

☆ The Fed’s rate cut had nothing to do with politics. That’s not holding politicians back
▼ + stars: | 2024-09-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

But in his own way (very demure, very mindful) that is what happened Wednesday when he announced the Fed’s first rate cut in four years, a giant half-point reduction that will lower the cost of borrowing and offer financial relief for consumers and businesses. Whenever a reporter asks him about politics, Powell refuses to bite. Like on Wednesday, when he was asked whether the half-point rate cut had political motivations, he responded with something approaching exasperation. It’s just maximum employment and price stability on behalf of all Americans.”Of course, that’s unlikely to stop either party from using the rate cut news to their advantage, given that the economy is the No. Trump can continue to claim that a rate cut is a sign the economy is weak.

Persons: CNN Business ’, Jerome Powell, That’s, ” Powell, “ We’re, Republican Sen, Tommy Tuberville, “, Kamala Harris, ”, it’s, It’s, Jason Furman, Donald Trump, they’re, Pubkey, ” Trump, Powell, He’s, Joe Biden, Powell isn’t, Barack Obama, don’t, Harris, Biden, Steve Sosnick Organizations: CNN Business, New York CNN, Republican, CNN, Trump, Fed’s, Governors, Interactive Brokers, Fed Locations: New York, America, Alabama, New York City, Trump

And yet an unusual air of uncertainty overhangs this week's meeting: It’s unclear just how large the Fed’s rate cut will be. Wall Street traders and some economists foresee a growing likelihood that the central bank will announce a larger-than-usual half-point cut. Many analysts foresee a more typical quarter-point rate cut. This week's move is expected to be only the first in a series of Fed rate cuts that will extend into 2025. Over time, Fed rate cuts should lower borrowing costs for mortgages, auto loans and credit cards, as well as for business loans.

Persons: Donald Trump's, Kamala Harris, Jerome Powell, —, Powell, Jackson, Freddie Mac Organizations: WASHINGTON, —, Federal Reserve, Wall Street, Companies, Associated Press Locations: Jackson Hole , Wyoming

I recently bought a used car, and I ended up getting gap coverage and an extended warranty. Gap insurance is crucialGap insurance is a type of car insurance that covers the difference between what you owe on your car loan or lease and the car's actual cash value in the event that your vehicle is totaled or stolen. So, for me, paying $1,060 extra for gap coverage and also checking to make sure my auto insurance coverage is sufficient is well worth it. If you're looking for the best car insurance, look no further. MaxCare provides coverage for unexpected vehicle repairs after the manufacturer's warranty has expired, protecting you from high out-of-pocket repair costs.

Persons: —, MaxCare, I'm Organizations: Service, CarMax Locations: CarMax

An Alaska Airlines plane was forced to abort takeoff at Nashville International Airport in Tennessee after a Southwest Airlines flight was cleared to cross from the same runway, according to the Federal Aviation Administration. Alaska Airlines Flight 369 was headed to Seattle on Thursday morning and had received clearance to take off from air traffic control, the airline said in a statement, when Southwest Airlines Flight 2029 was cleared to cross the end of the same runway, the FAA said. The Alaska pilots had to brake so hard and fast that the tires on their plane blew out, the airline said. Damaged tires on the Alaska Airlines jet at the Nashville, Tenn., airport after takeoff was aborted Thursday. It said it sent another plane to Nashville to take them to Seattle on Thursday night.

Persons: Kyle Forrester Organizations: Alaska Airlines, Nashville International Airport, Southwest Airlines, Federal Aviation Administration, FAA, Alaska, Nashville, National Transportation Safety, Employees Locations: Alaska, Tennessee, Seattle, Tenn, Nashville

☆ BMW downgrades 2024 outlook over brake issues and weak demand in China
▼ + stars: | 2024-09-10 | by ( ) edition.cnn.com time to read: +1 min

BMW cut its profit margin forecast for the year Tuesday due to sluggish demand in China, its key market, and problems related to a braking system supplied by Continental, sending the carmaker’s shares close to a two-year low. The German luxury carmaker said delivery hold-ups linked to the braking system would have a negative effect on sales in the second half of the year, adding that more than 1.5 million cars were affected. Overall, BMW said, it will incur “a high three-digit-million amount” in warranty costs in the third quarter as a result. BMW also flagged ongoing muted demand in China affecting sales in the country, joining the automakers facing difficulties in the world’s second-biggest economy, which is also the world’s largest auto market. “Despite stimulus measures from the government, consumer sentiment remains weak,” BMW said.

Persons: ” Organizations: BMW, Continental, ” BMW Locations: China

☆ Stellantis to recall over 1 million Ram vehicles due to brake system software
▼ + stars: | 2024-09-07 | by ( Robert Ilich | ) edition.cnn.com time to read: +1 min

CNN —Car manufacturer Stellantis is recalling more than 1.2 million Ram 1500 vehicles due to a software malfunction in the anti-lock brake system (ABS), according to the National Highway Traffic Safety Administration. The vehicles being recalled include certain 2019, 2021-2024 Ram 1500 trucks, the NHTSA said Saturday in a statement. Also, the ABS, ESC, Adaptive Cruise Control and Forward Collision Warning indicator lights would illuminate when the vehicle started up to show the systems are unavailable. Dealers will update the ABS software for free of charge. The recall comes after a similar recall in June that affected almost 158,000 Ram 2500 pick ups.

Persons: ” Stellantis, Stellantis Organizations: CNN, National, Traffic Safety Administration, Company, ESC, ABS, Cruise Control, Ram

☆ Drugmakers at fault over toxic cough syrup, Indonesia court finds
▼ + stars: | 2024-08-23 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

Jakarta, Indonesia Reuters —An Indonesian court ordered two local companies to pay up to 60 million rupiah ($3,850) to each family whose children died of an acute kidney injury or were seriously injured after consuming toxic cough syrup. In late 2022, more than 20 families launched a civil suit against the agency, the health ministry, and several companies. The health ministry and the BPOM were cleared of wrongdoing. Last year, a criminal court found East Java-based drugmaker Afi Farma guilty of negligence and jailed officials for not testing the ingredients sent by its supplier. Reuters could not immediately contact CV Samudera Chemical, an Indonesian soapmaker, whose toxic ingredient made its way to Afi Farma, according to the court document of the Afi Farma criminal case in 2023.

Persons: Afi Farma, Parents, Siti Habiba, ”, Reza Wendra Prayogo Organizations: Indonesia Reuters —, Central, Afi, country’s Statistics Bureau, Reuters, EG, World Health Organization Locations: Jakarta, Indonesia, Central Jakarta, East Java, Indonesian, Gambia, Uzbekistan

☆ Road tripping through Russia: American woman shares challenges of solo trip from Georgia to Mongolia
▼ + stars: | 2024-08-05 | by ( Essay Breanna Wilson | ) edition.cnn.com time to read: +13 min

And I’d be doing it solo, an American female, in a vintage Land Cruiser that was anything but inconspicuous. Planning a 7,000-kilometer road tripRussian visa in hand, it was time to start route planning, make my final vehicle preparations, and pack. With a car my size, bearing Georgian plates, driven by an American who doesn’t speak any Russian, I was increasingly nervous. An American girl, traveling alone, saying she’s moving to Mongolia, driving a car with Georgian plates. I had a summer of overlanding and adventuring across Mongolia, and a new life in Ulaanbaatar, to get underway.

Persons: Breanna Wilson, Andrey Orekhov, Evan Gershkovich, Russia – Organizations: Mongolia CNN, Cruiser, US State Department, Google, Astana, Russia, Toyota Top Motors Locations: Ulaanbaatar, Mongolia, Tbilisi , Georgia, Azerbaijan, Kazakhstan, Russia, Ukraine, American, Russian, Tbilisi, Tbllisi, Georgia, Georgian, Kazbegi, Chechnya, Dagestan, Mariupol, Donetsk, Baku, Alat, Europe, Japan, Kuryk, Altai, Bayan, Ölgii, Astana, Semey, Soviet Union, Russia's, Siberia, –, Tsagaannuur, Mongolia’s, @breannajwilson

The state minimum car insurance is the minimum amount of car insurance you must carry in your state to legally drive a vehicle. Get Car Insurance Quotes Compare affordable car insurance quotes online in minutes. Top Providers for State Minimum Car InsuranceThese are the top providers for minimum car insurance based on our round-up on the best car insurance companies. Minimum Car Insurance FAQWhat happens if I don't have the state minimum car insurance? If you drive without the state minimum car insurance, you may face serious penalties such as fines, license suspension, and even vehicle impoundment.

Persons: you'll, Asis Alani Asis, Forbes, She’s, Read Organizations: UM, State, Insurance Information Institute, New, state's Department of Motor Vehicles, Florida Hawaii Kansas Kentucky Massachusetts, Florida Hawaii Kansas Kentucky Massachusetts Michigan Minnesota New Jersey New, Amica, Farm, Farmers Insurance, Liberty Mutual, Arizona, Illinois, Indiana, Iowa, Maryland, Montana, Nebraska, Hampshire, York, North Carolina, North Dakota, Oklahoma, Rhode, South Carolina, South Dakota, Tennessee, Virginia, Washington, West Virginia, Insurance, Providers Insurance, DMV, Business, AARP, CNN, Fortune, U.S . News, Finance, University of Hawaii Locations: Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, Jersey, Mexico, York, Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Wisconsin, Wyoming, Florida Hawaii Kansas Kentucky, Florida Hawaii Kansas Kentucky Massachusetts Michigan Minnesota New Jersey, Florida Hawaii Kansas Kentucky Massachusetts Michigan Minnesota New Jersey New York North Dakota Pennsylvania Utah Kentucky , New Jersey, North Carolina, Alabama, Chevron, U.S, Manoa

☆ My partner and I opened our relationship, and I was surprised by how close I became with his girlfriend
▼ + stars: | 2024-07-11 | by ( Rachel Krantz | ) www.businessinsider.com time to read: +7 min

She did this by sometimes saying so directly, but also demonstrated it by rarely referencing her relationship with Adam at all. The same unspoken code didn't apply to me, with her making generous references to admiring our "primary relationship." AdvertisementI became close to my partner's girlfriend, LeahWhen it came to everything but the man we "shared," we were almost compulsively forthcoming. We dished about sex (except sex with Adam) in the kind of detail I'd seen on "Sex and the City." It remained easy for me to find dates or sex as a woman in an open relationship.

Persons: Adam, Leah, pragmatically, deferential, I'd, didn't, he'd, wasn't, Rachel Krantz Organizations: Service, Harmony Books, Random, Penguin Random Locations: United States, New York

☆ Germany seals 2025 budget plan after weeks of tense negotiations
▼ + stars: | 2024-07-05 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +3 min

German Chancellor Olaf Scholz smiles during a question time on July 3, 2024 at the Bundestag (lower house of parliament) in Berlin. "It is about a strong defense, a strong [German army] that offers protection from the aggressive tyrants of our time. An economic growth initiative has been planned alongside the budget, Scholz said. But the budget must then be discussed by the German parliament after its summer break, before being finalized later in the year. Negotiations have been ongoing for weeks after spending plans shared by individual ministries exceeded constraints by billions.

Persons: Olaf Scholz, Scholz, Christian Lindner, Lindner Organizations: Bundestag, CNBC, NATO, German, Reuters Locations: Berlin

☆ The VC that predicted a 'mass extinction event for startups' says it's time for a 'Great Reawakening'
▼ + stars: | 2024-07-03 | by ( Melia Russell | ) www.businessinsider.com time to read: +5 min

Read previewLast year's dearth of capital for startups forced many founders to stretch their cash runways. Efficiency is a hallmark of any good business, but Tom Loverro, an investor at 44-year-old Bay Area venture capital firm IVP, thinks startup founders should step off the brake pedal. The venture capitalist who rightly predicted a "mass extinction event for startups" over a year ago now says the worst is behind us. "We're on the cusp of a Great Reawakening for startups," Loverro wrote in a LinkedIn post. Given that the cloud software market is stabilizing and venture funding is available again to the best-in-breed startups, Loverro is telling startups with sound unit economics to increase their cash burn to speed up progress.

Persons: —, Tom Loverro, Loverro, shutdowns, Darwin, Ball, That's, Uber Organizations: Service, IVP, Business, Autonomy, TechCrunch, LinkedIn Locations: Stockholm

☆ I live rent-free in NYC. Moving into a van has allowed me to save, avoid taking out loans, and live a life of adventure.
▼ + stars: | 2024-06-24 | by ( Gerardo Rios Garcia | ) www.businessinsider.com time to read: +6 min

My journey into van life began when I was a kid, listening to my grandpa's stories about road trips around Mexico and the US. Gerardo Rios GarciaAt just over 46 square feet, my van poses significant challenges. Financial independence is another significant benefit of my van life. Van life has been an incredible journey of self-discovery and growthThe van parked on a city street. However, I truly believe living in a van has positively impacted my professional and academic life.

Persons: —, grandpa, Gerardo Rios Garcia, van, I'm, I've, Gerardo Rios Garcia Van, There's, haven't Organizations: Service, Columbia University, United Nations, Volkswagen, Business, Columbia University's, UN Locations: Manhattan, Mexico, North America, Arizona, Albuquerque , Kansas City, Indianapolis

☆ Fed meeting and inflation report both hit Wednesday, and the impact could be huge
▼ + stars: | 2024-06-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Jerome Powell, Chairman of the U.S. Federal Reserve, speaks during the conference celebrating the Centennial of the Division of Research and Statistics, Board of Governors of the Federal Reserve System in Washington D.C., United States on November 08, 2023. None of those numbers are dramatically different from the April readings, and still show inflation running well above the Fed's 2% target. Central bankers prefer the Commerce Department's measure of personal consumption expenditures prices, a broader measure that also accounts for changes in consumer behavior. The Bureau of Labor Statistics is scheduled to release the CPI report at 8:30 a.m. The Fed meeting

Persons: Jerome Powell, Celal Gunes, Jonathan Pingle, Pingle, tinker, Jack Janasiewicz, —, Janasiewicz Organizations: U.S . Federal Reserve, of Research, Statistics, Governors, Federal, System, Washington D.C, Getty, Anadolu, Federal Reserve, UBS, CPI, Investment, Labor Statistics Locations: Washington, United States, Anadolu

☆ The E.U. Is Voting. It’s Never Mattered More.
▼ + stars: | 2024-06-07 | by ( Matina Stevis-Gridneff | ) www.nytimes.com time to read: +1 min

It’s tempting to dismiss the European Parliament elections as the most important elections that don’t actually matter. Hundreds of millions of voters across 27 nations will turn out this weekend to cast their ballots, but the European Parliament is the least powerful of the European Union institutions. Its 720 members have limited powers, and, while a few are ascendant stars, a few are retired politicians, or even criminals. The Parliament that emerges from these elections, weak though it may be, will serve as a brake or accelerator for the crucial policies that will help shape Europe’s immediate future. In the five years since the last election, the bloc jointly bought Covid-19 vaccines and started a massive economic stimulus program to recover from the pandemic.

Organizations: European Union Locations: Russia, Ukraine

☆ Harvard professor on U.S. economic outlook ahead of 2024 election
▼ + stars: | 2024-06-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. economy: We're 'going from bad to worse' in terms of fiscal sustainability, says professorCarmen Reinhart, Minos A. Zombanakis Professor of the International Financial System at the Harvard Kennedy School, says "there is no prospect of putting a brake on the debt build-up" no matter who wins the U.S. election.

Persons: Carmen Reinhart, Minos Organizations: U.S, International, Harvard Kennedy School

☆ Snap up gold ETF ahead of potential interest rate cuts as deficits persist, market pro says
▼ + stars: | 2024-06-04 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

It's likely to further appreciate due to a lack of progress in narrowing the deficit, Tentarelli said. Historically, gold prices have been inversely correlated with real bond yields, meaning when yields decline, gold should rally further. "Even if there's no rate cuts, I like gold based on the macro of deficit spending," the Merrill Lynch alum said. In that event, investors will want to hold the SPDR Gold Shares (GLD) ETF, Tentarelli said. But, for most, the "smartest way" to play gold is through the ETF, Tentarelli said.

Persons: Larry Tentarelli, Tentarelli, Merrill Lynch Organizations: Federal Reserve, Costco, Treasury, @HG, Copper Miners Locations: yawning, Freeport, McMoRan, Monday's

☆ Singapore Releases Initial Report on Deadly Turbulence That Hit Flight
▼ + stars: | 2024-05-30 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: 1 min

The severe turbulence that killed one passenger and injured dozens on a recent Singapore Airlines flight led to sudden changes in altitude and airspeed, Singapore’s Transport Ministry said on Wednesday. Flight SQ321 encountered turbulence about 10 hours into a 13-hour trip to Singapore from London last week, officials said. The turbulence hit as the plane was traveling over southern Myanmar at an altitude of 37,000 feet, the Transport Ministry said in a preliminary report on Wednesday. When the plane rose unexpectedly by 362 feet, probably because of an updraft, its autopilot pitched it downward, the report said. The plane also sped up unexpectedly around the same time, and the pilots manually hit a brake in response.

Organizations: Singapore Airlines, Transport, Transport Ministry Locations: Singapore, London, Myanmar

☆ Amsterdam’s Schiphol Airport: Person dies after falling into airplane engine
▼ + stars: | 2024-05-30 | by ( Caitlin Danaher | Rosanne Roobeek-Coppack | ) edition.cnn.com time to read: +2 min

CNN —A person has died after falling into an airplane jet engine at Schiphol Airport in Amsterdam, the Netherlands, on Wednesday. “We are currently taking care of the passengers and employees who witnessed the incident at Schiphol,” KLM added on Wednesday. Schiphol Airport, which is one of Europe’s busiest aviation hubs, described the event as a “horrible incident” in a post on X. In December 2022, an airport worker died in an accident at the Montgomery Regional Airport in Alabama after also being ingested into the engine of an aircraft. And in December 2015 an engineer at Mumbai airport died after being sucked into the engine of an Air India plane.

Persons: Michel van Bergen, ” Organizations: CNN, Schiphol, Netherlands Royal Military, KLM, ” KLM, Montgomery Regional Airport, Embraer, Envoy, National Transportation Safety, Air, Airbus, Air India Locations: Amsterdam, Netherlands, Schiphol, Billund, Denmark, Alabama, Mumbai, Air India

☆ European Central Bank’s Knot says monetary policy to ease ‘gradually,' as markets brace for June rate cut
▼ + stars: | 2024-05-29 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Klaas Knot, president of De Nederlandsche Bank NV, on the sidelines of the Group of 20 (G-20) finance ministers and central bank governors meeting in Gandhinagar, India, on Tuesday, July 18, 2023. Bloomberg | Bloomberg | Getty ImagesLONDON — European Central Bank Governing Council member Klaas Knot said it would "soon" be time to ease monetary policy in the region, but cautioned that the process would need to be done slowly to keep inflation in check. "It can soon be appropriate to ease the currently restrictive monetary policy stance and gradually take our foot off the brake ... policy rates will slowly but gradually move into less restrictive levels," Knot, head of the central bank of the Netherlands, said at the Barclays-CEPR International Monetary Policy Forum in London Tuesday. In a Reuters poll of 82 economists this week, all said they expected a June cut. Knot, usually known for his more hawkish stance, said Tuesday there had been "clear disinflation" since the peak above 10% in late 2022, particularly in goods inflation.

Persons: Klaas Knot Organizations: De Nederlandsche Bank, Bloomberg, Getty, Central Bank Governing, Barclays, CEPR, Monetary, ECB, U.S . Federal Reserve, Bank of England, Reuters Locations: Gandhinagar, India, Netherlands, London

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