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☆ Virgin Atlantic CEO says UK budget is 'tax on growth' with air duties set to rise
▼ + stars: | 2024-11-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Shai Weiss, chief executive officer of Virgin Atlantic Airways Ltd., on day two of the Farnborough International Airshow in Farnborough, UK, on Tuesday, July 23, 2024. LONDON – Virgin Atlantic CEO Shai Weiss on Monday said the U.K. Labour government's landmark October budget presented a "tax on growth" due to higher rates placed on the aviation industry. "I would call [the Budget] a tax on growth," Weiss said Monday, adding that while it was necessary to cover Britain's budget deficit, it was also important to recognize the contribution of aviation to the wider U.K. economy. For journeys between 2,001 and 5,500 miles, APD will rise to £102 from £90 in economy and to £244 from £216 in other classes. CNBC has contacted the U.K. Treasury for comment.

Persons: Shai Weiss, Monday, Weiss, Louise Haigh, Rachel Reeves, Rain Newton, Smith, Bill Organizations: Virgin Atlantic Airways Ltd, LONDON, Virgin Atlantic, Labour government's, Labour, Conservative, Air Passenger, Treasury, Aviation, . Transport, Finance, of British Industry, National Insurance, CNBC Locations: Farnborough, London

☆ Stock futures inch higher on Monday after Dow closes at another record: Live updates
▼ + stars: | 2024-11-25 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on Aug. 2, 2024. Stock futures edged higher in overnight trading Monday, after the Dow Jones Industrial Average closed at a new record. Futures tied to the Dow added 30 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures rose 0.1% and 0.2%, respectively. The 30-stock Dow popped more than 440 points, or about 1%, to a new record close during regular trading. The Russell 2000 hit a new intraday high — its first record since 2021 — as investors piled into small caps.

Persons: Kohl's, Stocks, Donald Trump's, Dow, Russell, Scott Bessent, NewEdge’s Cameron Dawson, CNBC's Organizations: New York Stock Exchange, Dow Jones, Dow, Nasdaq, President, Trump, Key Square, Treasury Locations: U.S

☆ 6 things we’re watching in the stock market in the holiday-shortened trading week ahead
▼ + stars: | 2024-11-24 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

While the magnitude of the guidance beat was perhaps not enough to satiate the most demanding of bulls, the stock was flat on the week. Our other cybersecurity stock, CrowdStrike , is one of the main events of this holiday-shortened week on Wall Street. We added to our CrowdStrike exposure last week after the stock came under pressure due to increased geopolitical tensions . ET: Pending Home Sales Thursday, Nov. 28 Stock market closed for Thanksgiving holiday Friday, Nov. 29 Stock market closes early at 1 p.m. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Donald Trump's, HomeGoods, Tuesday's, Trump, We'll, LSEG, CrowdStrike, Dow Jones, —, Jim Cramer's, Jim Cramer, Jim Organizations: Nvidia, Dow Jones, Nasdaq, Dow, Companies, Palo Alto Networks, Federal, Home, Palo, Body, Fluence Energy, Agilent Tech, Abercrombie, Fitch, DICK'S Sporting, Dell Technologies, Autodesk, HP, Urban Outfitters, Nordstrom, Jim Cramer's Charitable, CNBC, The New York Stock Exchange, NYSE Locations: Maxx, U.S, Burlington

☆ Egg prices are going even higher. This time it’s avian flu and the holidays
▼ + stars: | 2024-11-24 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +5 min

New York CNN —Egg prices have risen steadily over the past two years. Egg prices at the grocery store were up 30.4% in October from the year prior, according to the consumer-price index. Increased demand from holiday cooking makes egg prices even more volatile. Avian flu, which is spread through wild birds, has been plaguing farmers and egg supply since January 2022. “Our egg prices really ride the waves associated with high influenza,” said Bernt Nelson, an economist with the American Farm Bureau Federation.

Persons: ”, Stew Leonard Jr, Steward Leonard’s, Emily Metz, That’s, Bernt Nelson, Leonard Jr, he’s, “ I’ve, ” Morton Williams, “ It’s, they’re, Steve Schwartz, Morton Williams, Schwartz, nothing’s, ” Schwartz Organizations: New, New York CNN, American Egg Board, American Farm Bureau Federation, US Department of Agriculture, Grocers Locations: New York, Oregon , Utah, Washington, York, New York City, mayo

☆ Stock futures rise Sunday ahead of shortened trading week: Live updates
▼ + stars: | 2024-11-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange on Nov. 22, 2024 in New York City. U.S. stock futures climbed Sunday night as Wall Street kicked off a shortened Thanksgiving trading week. Despite this week's shortened trading week, the interest rate outlook is back in focus with the release of October's personal consumption expenditure (PCE) price index, the Federal Reserve's preferred inflation measure. On the corporate earnings front, several retailers and tech names are slated to release quarterly results during the week. On Tuesday, retailers Macy's, Nordstrom and Best Buy are reporting results, as well as tech companies CrowdStrike and Dell Technologies.

Persons: Russell, Donald Trump, Scott Bessent, Trump, Bessent, Phillip Colmar, Nordstrom Organizations: New York Stock Exchange, Dow Jones Industrial, Nasdaq, Dow, Key Square, Treasury, MRB Partners, President, Federal, Dell Technologies Locations: New York City . U.S

☆ 5 ways to make Thanksgiving more affordable
▼ + stars: | 2024-11-24 | by ( John Towfighi | ) edition.cnn.com time to read: +8 min

CNN —Thanksgiving means football, food and, for some, crazy family reunions. Almost half of people hosting Thanksgiving dinner are concerned about cost, according to a survey by Deloitte published on November 19. Here are five ways to make Thanksgiving dinner more affordable. People shop for frozen turkeys for Thanksgiving dinner in Mount Prospect, Illinois, on November 17, 2021. Consider a bundle dealRetailers across the country are offering deals for Thanksgiving dinner, competing to be a part of your holiday meal.

Persons: CNN Max, Billy Roberts, ” CoBank’s Roberts, Nam, they’ll, Josh Koebert, ” Koebert, Koebert, CoBank’s Roberts, Wells, Robin Wenzel, Wenzel, ” Wenzel, “, William Masters, ”, ” Masters Organizations: CNN, America ’, American Farm Bureau Federation, Deloitte, CoBank, Food Institute, Walmart, Wells Fargo’s, Bureau of Labor Statistics, Friedman, of Nutrition Science, Tufts University, Shoppers Locations: New York, Chicago, Houston, America, Turkey, Mount Prospect , Illinois, Wells, Wells Fargo, Midwest

☆ The economist who predicted the election outcomes in detail tells BI his forecasts for 2025 GDP, inflation, and the threshold that would explode the deficit
▼ + stars: | 2024-11-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

AdvertisementChristophe Barraud predicted a Republican sweep and spike in the 10-year yield. Barraud, a top US economy forecaster, expects GDP growth to exceed consensus forecasts. He also expects higher inflation and shares concerns over the deficit crossing 7.5% of GDP. AdvertisementHe previously said that US GDP growth in 2025 would be stronger than expected at 2.1%, above Bloomberg's consensus forecast of 1.9%. A stronger labor market will cause this, especially wage growth and new job creation, combined with labor shortages from restrictive immigration policy.

Persons: Christophe Barraud, Kamala Harris, Donald Trump, Barraud, I'm, Trump Organizations: Republican, Market Securities Monaco, Bloomberg, Trump, Congressional, Office, Tax Foundation

☆ Investor focus shifts to rate cut outlook on Thanksgiving week, with Fed minutes and inflation data ahead
▼ + stars: | 2024-11-22 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

The interest rate outlook will come back into focus next week with key inflation data and Federal Reserve meeting minutes coming out ahead of Thanksgiving, as investors wrap up a major month for markets following President-elect Donald Trump's election victory. The October personal consumption expenditure (PCE) price index set to release Wednesday could dent already-dimming hopes for a December rate cut if it comes in hotter than expected. The inflation rate is expected to have increased 0.2% month over month and 2.3% year on year. Rosy expectations Even with the interest rate cut expectations coming in, investors are optimistic on the direction for stocks to close out the year and into 2025. Goldman Sachs' David Kostin this week said he expects the S & P 500 can end next year at 6,500.

Persons: Donald Trump's, —, Luke O'Neill, Stocks, O'Neill, Goldman Sachs, David Kostin, Morgan Stanley's Mike Wilson, Brian Belski, Tom Hainlin, Jeff Cox Organizations: Federal Reserve, Alpha Fund, Nasdaq, Dow Jones, BMO, UBS, Bank Asset Management, Dell Technologies, Chicago, New, Richmond Fed, Devices, Autodesk, PCE Deflator, Chicago PMI Locations: U.S, Chicago

☆ The portfolio's biggest stock winners — and laggards — for the week
▼ + stars: | 2024-11-22 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Markets: The stock market is wrapping up a good week, with the S & P 500 on Friday pacing for its fifth straight session of gains. Next week: It's a holiday-shortened week with markets closed Thursday for Thanksgiving and closed early (1 p.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, industrials, Coterra, We're, Blackwell, CrowdStrike, Robert F Kennedy, we'll, JM Smucker, Jim Cramer's, Jim Organizations: CNBC, ., Walmart, Costco, Utilities, Nvidia, Coterra Energy, Technology, Enterprise, Department of Health, Human Services, Department of Justice, Google, Chrome, Burlington Stores, Dick's Sporting Goods, JM, Abercrombie, Fitch, Dell Technologies, HP Inc, Federal, Jim Cramer's Charitable, Traders, New York Stock Exchange, NYSE Locations: New York City

☆ Asia-Pacific markets set to rise as investors assess Japan inflation data
▼ + stars: | 2024-11-22 | by ( Anniek Bao | ) www.cnbc.com time to read: +1 min

The Tokyo Tower, left, and commercial and residential buildings in Minato district of Tokyo, Japan, on Saturday, Oct. 1, 2022. Photographer: Akio Kon/Bloomberg via Getty ImagesAsia-Pacific markets were set to open higher Friday, tracking a rally on Wall Street, with the S&P logging gains for a fourth straight day. Investors in Asia will assess Japan's October consumer price index data. Singapore is also set to release its third-quarter GDP data, with growth anticipated to accelerate to 4.6% year on year from 4.1% in the prior quarter, according to LSEG data. Hong Kong's Hang Seng index futures were flat from its last close at 19601.11.

Persons: Akio Kon Organizations: Bloomberg, Getty Images, Investors, Reuters, Nikkei Locations: Tokyo, Minato district, Japan, Getty Images Asia, Pacific, Asia, Singapore, Chicago, Osaka, 19601.11

☆ Trump tariffs to push down U.S. growth 'a great deal' going into 2026, Morgan Stanley warns
▼ + stars: | 2024-11-20 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Donald Trump's proposed tariffs will dent U.S. economic growth going into 2026, said Morgan Stanley's chief global economist Seth Carpenter. In the event that they are enacted all at once, they could result in a "big negative shock" to the economy, Carpenter told CNBC's Sri Jegarajah on the sidelines of Morgan Stanley's annual Asia Pacific Summit in Singapore. Carpenter, who maintained Morgan Stanley's base case of these tariffs being spread over 2025, said they would lead to higher inflation. "Then into 2026, we think growth starts to come down a great deal in the U.S. because of those tariffs and some of the other policies," he cautioned. Very clear, tariffs are a drag on growth for the U.S., not just for the countries that the tariffs are put on," Carpenter added.

Persons: Donald Trump's, Morgan Stanley's, Seth Carpenter, Trump, Carpenter, CNBC's Sri, Morgan, Mark Malek, Siebert, Joe Biden, Trump's, Malek, Ben Emons Organizations: Asia Pacific Summit, Microsoft, Apple, U.S . Federal Reserve, FedWatch Advisors Locations: China, CNBC's Sri Jegarajah, Morgan Stanley's, Singapore, U.S

☆ Thanksgiving meals are expected to be cheaper in 2024 as turkey prices drop
▼ + stars: | 2024-11-20 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

And when it comes to Thanksgiving food, it seems Americans are getting relief on their grocery bills this year following a few years of escalating costs. The national average cost for a 16-pound turkey is down 6% from 2023, according to the Farm Bureau. Overall turkey prices have decreased about 4% in the past year, according to the consumer price index. Farmers raised about 205 million turkeys in 2024, down 6% from 2023, according to the U.S. Department of Agriculture. The aggregate impact has been lower turkey prices.

Persons: Robin Wenzel, Bernt Nelson, Nelson, Monty Rakusen, That's, —, Robin Wenzel Wells, Wenzel Organizations: American Farm Bureau Federation, Farm Bureau, Deloitte, Finance, Food Institute, Farm, Farmers, U.S . Department of Agriculture, Digitalvision, Getty, Food, USDA Locations: Wells, Turkey, U.S, Ukraine

If the Fed doesn't cut rates in December, we may see mortgage rates inch up. See more mortgage rates on Zillow Real Estate on ZillowWhat Are Today's Mortgage Refinance Rates? See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. Current 30-Year Mortgage RatesAverage 30-year mortgage rates are hovering around 6.60%, according to Zillow data. But now that inflation has decelerated and the Fed has started cutting rates, mortgage rates have trended down compared to where they were a year ago.

Persons: Jerome Powell, It's, they've, Freddie Mac, Fannie Mae Organizations: Federal Reserve, Fed, Mortgage Research, Zillow, Mortgage, Association, ARM, . Government Locations: Chevron, Government

☆ Cheaper turkeys help bring down Thanksgiving dinner costs this year
▼ + stars: | 2024-11-20 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +3 min

CNN —Thanksgiving dinner will cost less this year than last but will still be 19% higher than before the pandemic, according to the American Farm Bureau Federation’s annual Thanksgiving survey out Wednesday. The average cost of this year’s dinner for 10 people is $58.08, or about $5.80 per person, the survey found. The center piece of the Thanksgiving meal, the turkey, helped bring down the overall cost. But items like cubed stuffing and dinner rolls both increased by 8% because of higher labor costs, the AFBF said. The cost of the Thanksgiving dinner items varies based on location, the survey found.

Persons: ”, Bernt Nelson, “, Zippy Duvall, Joe Biden, Donald Trump Organizations: CNN, American Farm Bureau, American Farm Bureau Federation, Cranberries, Farm Bureau Locations: Puerto Rico, Midwest

☆ Jim Cramer explains why budget retailers like Walmart are seeing success
▼ + stars: | 2024-11-19 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

The big box retailer posted an earnings and revenue beat on Tuesday, impressing Wall Street and sending the stock to a new 52-week high, up 3% by the close. Walmart highlighted growth in its e-commerce segment and advertising business as factors that contributed to its success. But to Cramer, the main reason Walmart's quarter impressed Wall Street is its affordable merchandise and price reductions. Walmart and peer retailers that focus on value — like Amazon and Costco — are what consumers want right now, and these retailers are some of the only ones that can afford large price rollbacks, he added. "There's something going on underneath, something that's hurting every department store, every dollar store, every mall store," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, Wall Organizations: Walmart, Costco Locations: U.S

☆ Nvidia earnings are more important to the market than the Fed and jobs data, according to options market
▼ + stars: | 2024-11-19 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Nvidia earnings results this week are more important to the stock market than the Federal Reserve or even jobs data, according to the options market. But Jensen Huang's company remains crucially important to the market, according to Wall Street firms tracking the options market. NVDA 1D mountain Nvidia The options market shows an implied move of 8% for Nvidia, according to Barclays. For investors, how Nvidia moves could determine what is next for a market that has been flagging lately following the postelection rally, according to Bank of America Securities' Asis. Asis recommends hedging against the earnings results in case Nvidia disappoints.

Persons: Jensen, Gonzalo Asis, Asis, Stefano Pascale Organizations: Federal Reserve, U.S, Wall, Bank of America Securities, Sunday, Nvidia, CPI, Barclays, Bank of America, Apple, Microsoft Locations: Asis

☆ European markets set for higher open as investors look to shake off negative sentiment
▼ + stars: | 2024-11-18 | by ( Sophie Kiderlin | ) www.cnbc.com time to read: +1 min

City of London skyline view looking over the River Thames and Waterloo Bridge at sunset on 10th February 2024 in London, United Kingdom. European markets were on track to rise as a new trading week kicks off Monday, with investors looking to shake off last week's negative sentiment and attention turning to regional inflation data. Italy's FTSE MIB was also on track to open higher, adding 158 points to 34,060. Investors this week will be looking to several key regional data points, including the latest inflation data out of the U.K. on Wednesday. The figures come after Friday's U.K. gross domestic product reading, which came in at 0.1% in the third quarter, falling short of expectations.

Persons: Germany's DAX, Christine Lagarde Organizations: CAC, Markets, European Central Bank, ECB Locations: London, United Kingdom

☆ 5 things we're watching in the stock market in the week ahead
▼ + stars: | 2024-11-17 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

October retail sales, released Friday morning, came in slightly ahead of expectations, indicating a 0.4% monthly increase, versus a 0.3% increase expected. Disney's reported strong earnings and its stock advanced more than 16% for the week as a result. In the week ahead, we will get earnings from three Club names, including the highly anticipated quarter from Nvidia, and a couple of housing market-related updates. The Street is looking for Nvidia sales of $33.1 billion in its fiscal Q3 and earnings of 75 cents per share. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Donald Trump, Friday's, Jerome Powell, Powell, That's, YTD We're, we're, Jensen, Trump, Nvidia's, Stanley Black, Decker, Jim Cramer's, Jim Cramer, Jim, Angela Weiss Organizations: Dow, Nasdaq, Federal, Fed, Disney, Depot, Nvidia, TJX Companies, Home Goods, Blackwell, Palo Alto Networks, Home Depot, Stanley, Walmart, Viking Holdings, Sonoma, WSM, Baidu, PDD Holdings, Deere & Co, Warner Music Group, Intuit, Ross Stores, CNBC, Traders, New York Stock Exchange, AFP, Getty Locations: Maxx, U.S, China, Palo, VIK, Williams, New York City

☆ 7 ways a Trump administration could affect your finances
▼ + stars: | 2024-11-16 | by ( John Towfighi | ) edition.cnn.com time to read: +9 min

Here are seven ways a Trump administration could affect your personal finances. During Trump’s first term, the 2017 Tax Cuts and Jobs Act temporarily expanded the child tax credit from $1,000 to $2,000. “He will deliver.”TaxesThe Trump administration is expected to focus on extending tax cuts introduced by the Tax Cuts and Jobs Act that are set to expire in 2025. The Trump administration wants to “promote choice and competition” and make health care more affordable, according to his policy platform. The Trump administration will likely cut red tape to encourage business and real estate developments.

Persons: Donald Trump, he’d, Trump, JD Vance, Maria Castillo Dominguez, —, Karoline Leavitt, Vance, “, ” Leavitt, Alan Auerbach, Social Security Trump, Biden, Berkeley’s Auerbach, Joe Biden’s, ” Auerbach, “ They’re, ”, Trump’s, Auerbach, Sarah Lueck, ” Trump Organizations: CNN, Social Security, Jobs, Valoria Wealth Management, Trump, Urban, Brookings Tax, Tax, UC Berkeley, Center, enrollees, Republicans, Public, Consumer, National Retail Federation, Health, Republican, Center for Budget, Medicare, it’s, Housing

☆ Treasury yields tick higher as investors digest Powell’s comments, await further data
▼ + stars: | 2024-11-15 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +1 min

ET, the 10-year Treasury yield rose by more than two basis points to 4.4453%. The yield on the 2-year Treasury rose by more than three basis points to 4.3307%. U.S. Treasury yields rose on Friday as investors digested Federal Reserve Chair Jerome Powell's latest comments, and awaited further economic data. The remarks come after the Fed cut interest rates by a quarter point last week. Investors will turn their attention to further economic data due to be published on Friday, including retail sales, industrial production, and import prices.

Persons: Jerome Powell's, Powell, Powell's Organizations: Treasury, U.S, Investors, Fed

European markets closed higher on Thursday as traders digested a slew of earnings and assessed fresh inflation data for a signal on the possible trajectory of interest rate cuts. The pan-European Stoxx 600 provisionally ended the day 1.08% higher, with all sectors and major bourses trading in the green. Shares of Burberry jumped more than 22%, after the British luxury house announced a sweeping overhaul strategy to stem declining sales. Investors are assessing the likelihood of another interest rate cut by the U.S. Federal Reserve in December after the latest U.S. inflation data. U.S. stocks were little changed Thursday, while Asia-Pacific markets traded in mixed territory overnight.

Persons: Donald Trump's Organizations: Burberry, Siemens, Bilfinger, Merck, Fincantieri, Metro Bank, Aviva, Deutsche Telekom, U.S . Federal Reserve, Federal Locations: Veon, Asia, Pacific

The 10-year Treasury yield sat near flat at 4.449%, near its highest point since July. The 10-year Treasury yield hovered near a 4-month high on Thursday after Federal Reserve chair Jerome Powell indicated that the central bank is in no hurry to slash interest rates. The moves followed Fed Chair Jerome Powell's speech in Dallas Thursday, where he told business leaders the cenral bank doesn't need to quickly cut interest rates. "The economy is not sending any signals that we need to be in a hurry to lower rates," Powell said in prepared remarks. The speeches come as investors and economists scrutinize what President-elect Donald Trump's return to the White House could mean for U.S. interest rates.

Persons: Jerome Powell, Jerome Powell's, Powell, Adriana Kugler, Donald Trump's, Dow Jones, —, Sarah Min Organizations: Treasury, Federal, Fed Locations: Dallas

☆ Wholesale inflation heated up again last month, reversing recent progress
▼ + stars: | 2024-11-14 | by ( Alicia Wallace | ) edition.cnn.com time to read: +5 min

CNN —US wholesale inflation picked up more than expected in October, indicating that some price pressures persist at the producer level. Still, one potential favorable sign for inflation-weary consumers: Wholesale food prices dropped 0.2% for the month. FactSet consensus forecasts called for a 0.2% monthly gain and for the annual rate to heat up to 2.3%. Economists projected a 0.2% monthly gain and a 3% annual rate. Thursday’s PPI trajectory mirrored that seen in the latest Consumer Price Index data released Wednesday.

Persons: Price, Eugenio Aleman, Raymond James ’, Thomas Simons, Jefferies, ” Simons, ” Oren Klachkin, Donald Trump’s, ”, Christopher Rupkey, Rupkey Organizations: CNN, of Labor Statistics, PPI, Federal Reserve, “, CPI, Nationwide

☆ Fed’s Powell: Rate cuts are still underway
▼ + stars: | 2024-11-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Powell said more rate cuts are likely underway because the economy’s current trends and dynamics are expected to remain in place, at least in the short run. “We are moving policy over time to a more neutral setting,” Powell said in prepared remarks for an event in Dallas. It’s also too soon for Fed officials to conclude that October data is indicative of any new trend. While additional hot inflation reports could be factored in to the Fed’s decisions, officials are also looking at the US labor market closely. There’s also been tension between Trump and Powell, whom the president-elect first nominated in 2017 to steer the central bank.

Persons: Jerome Powell, Powell, ” Powell, Donald Trump, Trump’s, It’s, Price, “, —, There’s Organizations: Washington CNN — Federal, Republican, Fed Locations: Dallas, stoke, Trump

☆ High grocery prices got droves of Americans to vote for Trump but they shouldn’t expect to pay less over the next four years
▼ + stars: | 2024-11-14 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +7 min

With some of these pressure points softening, food prices have cooled to rates comparable to before the pandemic. “Grocery prices have skyrocketed,” he said. “Until we can — if we can — fix climate change, there’s no way that food prices can come down,” he told CNN. In the past, grocery prices have come down primarily when “the economy is under duress” and people don’t have enough money to pay for groceries. Absent these kinds of scenarios, Trump is unlikely to get the actual food prices we pay back to where they were during his first term.

Persons: Joe Biden, Donald Trump, Trump, ”, “, ” Trump, “ That’s, That’s, Phil Lempert, Vance, Lempert, Leo Feler, Feler, it’s “ Organizations: New, New York CNN, AP VoteCast, New York Economic Club, ”, Trump, CNN, University of California Locations: New York, Ukraine, Russia, Brazil, Mexico, Florida, California, China, Los Angeles

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