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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed minutes indicate officials were divided on whether to cut rates by half a point in SeptemberCNBC’s Steve Liesman, joins 'Power Lunch' to discuss the findings in the Fed minutes.
Persons: Steve Liesman
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA soft landing is most likely, says Wolfe Research’s Stephanie RothCNBC’s Steve Liesman and Wolfe Research’s Stephanie Roth, join 'Power Lunch' to discuss their takeaways from the Fed minutes.
Persons: Wolfe, Stephanie Roth, Steve Liesman, Wolfe Research’s Stephanie Roth
Here's how Jefferies predicted the September labor numbers
  + stars: | 2024-10-07 | 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 EmailHere's how Jefferies predicted the September labor numbersThomas Simons, Jefferies’ senior U.S. economist, and CNBC’s Steve Liesman join 'The Exchange' to discuss how Jefferies predicted this month's strong labor report, whether there are fewer payroll gains ahead for workers, and more.
Persons: Jefferies, Thomas Simons, Jefferies ’, Steve Liesman
CNBC Daily Open: Minor turbulence for the soft landing
  + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Kirk Side | Houston Chronicle | 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. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. Higher oil prices pose a risk to inflation resurging, or at least slowing less than everyone is hoping for. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.
Persons: Seabrook . Kirk, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Houston Chronicle, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook ., Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East
CNBC Daily Open: Soft landing hit by minor turbulence
  + stars: | 2024-10-02 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +2 min
Mark Felix | Afp | 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. Port workers along the U.S. East Coast and Gulf Coast started striking Tuesday. It's just the first days of the port strike and flare-up in Middle East tensions, however. The best-case scenario would be that recent events are just minor turbulence on the way to a soft landing.
Persons: Mark Felix, Kathy Hochul, Adam Kamins, Christopher Ball, Piper Sandler, Campbell, It's, Steve Liesman, Jeff Cox, Fred Imbert, Lori Ann LaRocco, Sean Conlon, Alex Harring, Brian Evans Organizations: Afp, Getty, CNBC, U.S ., Gulf Coast, New, Moody's, Quinnipiac University, Nasdaq, Nvidia, Apple Locations: Seabrook , Texas, Port, U.S, U.S . East Coast, New York, New Jersey, Iran, Major U.S, East
The fight for Latino voters
  + stars: | 2024-09-30 | by ( Steve Liesman | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe fight for Latino votersA new NBC, CNBC and Telemundo survey shows Latinos are about as downbeat on the U.S. economy as the rest of the population. Senior Economics Reporter Steve Liesman unpacks the details, as well as what Democrats and Republicans are doing to win their vote.
Persons: Steve Liesman Organizations: NBC, CNBC, Telemundo Locations: U.S
The survey of 1,000 Latino likely voters found the Democratic presidential candidate, Vice President Kamala Harris, leading the Republican candidate, former President Donald Trump, by 54% to 40%. Harris's 14-point lead is the narrowest margin for a Democratic candidate among surveyed Latino voters in at least the past four elections, going back to 2012. All of these groups rate the economy poorly, with Latino voters overall about as downbeat on the economy as the rest of the country. While that's about equal to the rest of the population, it stands 11 points higher than in the NBC 2022 Latino survey. Here is a demographic profile of Latino voters from the NBC/CNBC/Telemundo survey:
Persons: Donald Trump, Kamala Harris, Joe Biden, Hillary Clinton, Aileen Cardona, Arroyo, Micah Roberts, Republican pollster, Harris, Trump, Harris's, Biden, That's, it's Organizations: Republican, Democratic, National Constitution Center, Republicans, NBC, CNBC, Telemundo, Trump, Hart Research, America Economic Survey Locations: Philadelphia , Pennsylvania, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPCE does not change our base case for quarter-point cuts through rest of year, says Julia CoronadoCNBC's Steve Liesman and Julia Coronado, founder of MacroPolicy Perspectives, join 'The Exchange' to discuss their reactions to the August PCE data.
Persons: Julia Coronado CNBC's Steve Liesman, Julia Coronado Organizations: PCE
Treasury Secretary Yellen: We're on a path to a soft landing
  + stars: | 2024-09-26 | 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 EmailTreasury Secretary Yellen: We're on a path to a soft landingCNBC's Steve Liesman sits down with Treasury Secretary Janet Yellen to discuss what risks she is watching in banks' balance sheets, whether she believes inflation is under control, and much more.
Persons: Yellen, Steve Liesman, Janet Yellen
Fed Governor Adriana Kugler says she sees more cuts to come
  + stars: | 2024-09-25 | 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 EmailFed Governor Adriana Kugler says she sees more cuts to comeCNBC's Steve Liesman and Adam Crisafulli, Vital Knowledge founder, join 'Closing Bell Overtime' to talk comments from Fed Governor Adriana Kugler.
Persons: Adriana Kugler, Steve Liesman, Adam Crisafulli Organizations: Vital Knowledge
Federal Reserve Governor Christopher Waller said Friday he supported a half percentage point rate cut at this week's meeting because inflation is falling even faster than he had expected. A week before the Fed meeting, markets were overwhelmingly pricing in a 25 basis point cut. Along with the decision, individual officials signaled the likelihood of another half point in cuts this year, followed by a full percentage point of reductions in 2025. Fed Governor Michelle Bowman was the only Federal Open Market Committee member to vote against the reduction, instead preferring a smaller quarter percentage point cut. "I was a big advocate of large rate hikes when inflation was moving much, much faster than any of us expected," he said.
Persons: Christopher Waller, Waller, CNBC's Steve Liesman, Michelle Bowman, Bowman, Jerome Powell Organizations: Federal, CNBC, Fed, Market, Commerce Department
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIt's 'premature' to conclude victory over inflation, says Northern Trust's Carl TannenbaumCarl Tannenbaum, chief economist at Northern Trust, and CNBC's Steve Liesman discuss what the Fed's 50bp cut signals for the future, the state of the job market, and more.
Persons: Northern Trust's Carl Tannenbaum Carl Tannenbaum, Steve Liesman Organizations: Northern Trust Locations: Northern
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDoubleLine Capital CEO: Bond market is concerned about longer-term inflationCNBC's Steve Liesman and Jeffrey Gundlach, DoubleLine Capital CEO, join 'Closing Bell' to discuss the Federal Reserve's decision to cut rates by 50 basis-points.
Persons: Steve Liesman, Jeffrey Gundlach Organizations: DoubleLine
But a series of data points showing worsening economic conditions has made some analysts believe a 0.5% cut is more likely — and perhaps even necessary. “We do not seek or welcome further cooling in labor market conditions,” Fed Chair Jay Powell said in a speech last month. “A (0.5%) cut is usually done in emergencies,” like the Covid-19 pandemic, said Mark Zandi, chief economist at Moody’s financial group. Mortgage interest rates have hit their lowest level since February 2023, while auto loan rates are also falling. A 0.5% cut would more directly affect rates tied to the fed funds rate, including credit cards, home equity lines of credit and small-business loans.
Persons: Steve Liesman, Jay Powell, Bill Dudley, ” Dudley, Preston Mui, Mui, , , Mark Zandi, Greg McBride, ” McBride Organizations: Federal, CNBC, Wall, Minneapolis Federal Reserve, Federal Reserve Bank of New, Bloomberg News, Fed, Bankrate Locations: Minneapolis, Federal Reserve Bank of New York, America
The survey shows 84% of the 27 respondents, including economists, fund managers and strategists, see the Fed cutting by a quarter percentage point, with 16% seeing a half-point decrease. That compares with 65% probability of a half-point cut now priced into fed futures markets. "That forecast is more in line with a hard landing than a soft landing." (One basis point equals 0.01%)Soft landing expectedThe major difference could be that survey respondents appear less worried about the economy overall than futures markets, and more convinced the Fed has time to enact gradual rate cuts. Seventy-four percent said the September rate cut comes in time to preserve a soft landing, with just 15% saying it's too late.
Persons: Jerome Powell, Andrew Harnik, John Donaldson, Barry Knapp, it's, Michael Englund, Guy LeBas, Janney Montgomery Scott Organizations: Federal Reserve, CNBC Fed Survey, CNBC, Haverford Trust Co, Ironsides, Fed
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed has 'nothing to lose' with 50 bp cut, says Wolfe Research's Stephanie RothStephanie Roth, chief economist at Wolfe Research, and CNBC's Steve Liesman join 'The Exchange' to discuss expectations for the Fed, why credit card data may be understating consumer spending, and more.
Persons: Wolfe, Stephanie Roth Stephanie Roth, Steve Liesman Organizations: Fed, Wolfe Research
Retail sales grew again in August: CNBC/NRF Retail Monitor
  + stars: | 2024-09-13 | 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 EmailRetail sales grew again in August: CNBC/NRF Retail MonitorCNBC's Steve Liesman reports on the latest findings from the CNBC/NRF Retail Monitor.
Persons: Steve Liesman Organizations: CNBC, NRF
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed Inspector General: Atlanta Fed president Bostic violated Fed trading rulesCNBC's Steve LIesman joins 'Power Lunch' to report on the Fed Inspector General releasing findings that Atlanta Fed President Raphael Bostic violated Fed trading rules.
Persons: Bostic, Steve LIesman, Raphael Bostic Organizations: Atlanta Fed, Fed
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAtlanta Fed President Raphael Bostic: Can't wait until inflation is at 2% to start movingCNBC’s Steve Liesman and Atlanta Fed President Raphael Bostic join 'Squawk Box' to discuss the Fed's inflation fight, state of the economy, rate path outlook, and more.
Persons: Raphael Bostic, Steve Liesman Organizations: Atlanta, Atlanta Fed
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChicago Fed President Austan Goolsbee on Fed Chair Jerome Powell's Jackson Hole SpeechCNBC's Steve Liesman joins Halftime Report with Chicago Fed President Austan Goolsbee to discuss Jerome Powell's comments in Jackson Hole earlier today.
Persons: Austan Goolsbee, Jerome Powell's Jackson, Steve Liesman, Jerome Powell's, Jackson Organizations: Chicago, Chicago Fed
A few facts worth considering:By the time the 2009 revisions came out (824,000 jobs were overstated), the National Bureau of Economic Research had already declared a recession six months earlier. (It would subsequently be revised higher in the two of those quarters, one of which was revised higher to show growth, rather than contraction. As a signal that job growth has been overstated by an average of 68,000 per month during the revision period, it is more or less accurate. In the cutting process, the Fed will follow growth and jobs data more closely, just as it monitored inflation data more closely in the hiking process. The jobs data could be subject to noise from immigrant hiring and can be volatile.
Persons: payrolls, Goldman Sachs Organizations: Amerant, National Bureau of Economic Research, Bureau of Labor Statistics, Goldman Locations: Florida, Sunrise , Florida
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed's Bostic: If economy evolves as I expect, should be rate cuts by year-endCNBC's Steve Liesman joins 'The Exchange' to discuss the latest news on the Fed, as Atlanta Fed President Raphael Bostic speaks on the economy.
Persons: Steve Liesman, Raphael Bostic Organizations: Atlanta Fed
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC All-America Economic Survey: Swing voters have 39% negative approval rating for TrumpCNBC's Steve Liesman reports on the results from CNBC's latest All-America Economic Survey.
Persons: Steve Liesman Organizations: CNBC, America Economic, Trump, America Economic Survey
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe yield curve turning positive will help spur commercial & mortgage activity, says WaFed's BeardallCNBC's Steve Liesman and Brent Beardall, president and CEO of WaFed Bank, join CNBC's 'The Exchange' to discuss the latest market moves.
Persons: WaFed's, Steve Liesman, Brent Beardall, CNBC's Organizations: WaFed Bank
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChicago Fed President Austan Goolsbee: If conditions start to deteriorate, the Fed will 'fix it'CNBC’s Steve Liesman and Chicago Fed President Austan Goolsbee joins 'Squawk Box' to discuss the state of the economy, the Fed's inflation fight, rate path outlook, and more.
Persons: Austan Goolsbee, Steve Liesman Organizations: Chicago, Chicago Fed
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