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☆ The first and last lines of 27 'Friends' characters
▼ + stars: | 2024-09-18 | by ( Amory Rose | ) www.businessinsider.com time to read: 1 min

Monica says the first line on the entire series. Courteney Cox on "Friends." NBCFirst appearance: Season one, "The Pilot/The One Where Monica Gets a Roommate"The first scene of "Friends" shows Monica (Courteney Cox) talking to her friends in Central Perk coffeehouse. Her first line, which is the first of the series, is "There's nothing to tell! It's just some guy I work with," in reference to a date she has later that night.

Persons: Monica, Courteney Cox Organizations: NBC Locations: Central

☆ Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years
▼ + stars: | 2024-09-18 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The matrix of individual officials' expectations pointed to another full percentage point in cuts by the end of 2025 and a half-point in 2026. In all, the dot plot shows the benchmark rate coming down about 2 percentage points beyond Wednesday's move. On core inflation, the committee took down its projection to 2.6%, a 0.2 percentage point reduction from June. In fact, the last time the monthly hiring rate was this low – 3.5% as a share of the labor force – the unemployment rate was above 6%. At his press conference following the July meeting, Powell remarked that a 50 basis point cut was "not something we're thinking about right now."

Persons: Michelle Bowman, Jerome Powell, Powell Organizations: WASHINGTON, Federal Reserve, Market, Dow Jones, Fed, Gross, Atlanta Fed

☆ Traders got their big-rate-cut wish and markets still couldn't rally
▼ + stars: | 2024-09-18 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Wall Street got the big rate cut it wanted, but markets failed to sustain a rally. The Federal Reserve on Wednesday cut its key overnight lending rate by a half percentage point . Ryan Sweet, chief U.S. economist at Oxford Economics, noted that the half-point cut suggests slowing growth is increasingly concerning Fed policy makers. "The Fed is likely worried that labor demand would weaken more, causing additional stress points in the labor market." "A larger cut probably was not needed out of the gate, but that should support risk-on asset allocation."

Persons: Ryan Sweet, Sweet, Nancy Tengler, Tengler, Scott Helfstein, Jeff Cox, Michelle Fox Organizations: Federal Reserve, Oxford Economics, Fed, Global

☆ The Fed's biggest interest rate call in years happens Wednesday. Here's what to expect
▼ + stars: | 2024-09-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +7 min

The meeting wraps up Wednesday afternoon, with the release of the Fed's rate decision coming at 2 p.m. "I hope they cut 50 basis points, but I suspect they'll cut 25. Here's a breakdown of what's on tap:The rate waitThe FOMC has been holding its benchmark fed funds rate in a range between 5.25%-5.5% since it last hiked in July 2023. The 'dot plot'Perhaps just as important as the rate cut will be the signals meeting participants send about where they expect rates to go from here. In June, FOMC members penciled in just one rate cut through the end of the year.

Persons: Jerome Powell, William McChesney Martin Jr, Andrew Harnik, they'll, Mark Zandi, that's, Tom Simons, Zandi, Robert Kaplan, There'll, Seema Shah, FOMC, Moody's, Goldman Sachs, Powell presser, Goldman, Simons Organizations: Federal Reserve, Committee, Moody's, Wall, Jefferies, Dallas Fed, CNBC, Asset Management Locations: Washington , DC

☆ Former Dallas Fed President Kaplan advocates for a half-point interest rate cut
▼ + stars: | 2024-09-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

If Robert Kaplan still had a say in the matter, he'd be pushing for a half percentage point interest rate reduction at this week's Federal Reserve meeting. The former Dallas Fed president told CNBC on Tuesday that making the bolder move of 50 basis points would better position policymakers heading into the latter part of the year and the economic challenges ahead. "If I were sitting at the table, I would be advocating for 50 in this meeting," Kaplan said during a "Squawk Box" interview. One basis point equals 0.01%. Kaplan ran the Dallas Fed from 2015-21 and is now a managing director at Goldman Sachs.

Persons: Robert Kaplan, Kaplan, Jerome Powell, Jay Powell, Goldman Sachs Organizations: Dallas Fed, CNBC, Federal

But increasingly concerned Republicans fear the Trump team is firing blanks. So I just think that’s super overblown criticism by people who don’t know what they’re talking about.”‘Some groups are better than others’Concerns over Republican field efforts are nothing new. Large-scale conservative canvassing efforts, these Republicans explained, were plagued with issues including fraudulent and untrustworthy data entries. The senior Trump campaign official said the campaign was not caught off guard by Turning Point having a more limited scope, saying it has been working closely with the organization. “You gotta remember, Donald Trump got more votes for a sitting president than ever before in history,” this person said.

Persons: Donald Trump’s, Trump, ”, Kamala Harris ’, “ Local Republicans aren’t, they’re, Elon, James John Liautaud, Jimmy John’s, Shaun Maguire, Douglas, Ron DeSantis ’, Generra Peck, Phil Cox, there’s, it’s, … I’ve, Semafor, “, ” Andrew Kolvet, Michael Whatley, Harris, Joe Biden, ” Sen, Steve Daines, Kamala Harris, ” Whatley, GOTV, isn’t, Donald Trump Organizations: Republican National Committee, Trump, Federal, Commission, RNC, Republican, “ Local Republicans, America PAC, FEC, Sequoia Capital, GOP, Gov, New York Times, NBC, “, NBC News, House Republicans, National Republican Senatorial, Democrats ’ Senate, ”, Republicans Locations: Iowa, Douglas Leone, Arizona, Wisconsin, Michigan, Nevada, Georgia

☆ Top NFL Week 2 storylines: Bengals-Chiefs next chapter; C.J. Stroud, Caleb Williams on SNF
▼ + stars: | 2024-09-15 | by ( Mike Jones | ) www.nytimes.com time to read: +11 min

The 16 teams that lost last week look to bounce back with performances that reflect improvement and promise. Rodgers completed 13 of 21 passes for 167 yards, a touchdown and an interception, and the Jets managed just 68 rushing yards. Stroud, the best quarterback from last year’s draft class, and Chicago’s Caleb Williams, the first pick of this year’s draft. Stroud continued to impress in Week 1, throwing for 234 yards, two touchdowns and no interceptions. After the game, Williams vowed, “I will be better.” Excelling against a talented Texans defense, however, could prove challenging.

Persons: what’s, Tua Tagovailoa, Aaron Rodgers, Rodgers, Will Levis, Malik Willis, Jordan Love, Green, Matt LaFleur, Willis, LaFleur, Love, Patrick Mahomes, Denny Medley, NFL schedulers, Joe Burrow, Mahomes, Burrow, Burrow's, Ja’Marr Chase, Tee Higgins, Higgins, Macdonald, Jerod Mayo, Bill Belichick, Mike Macdonald, Geno Smith, Jacoby Brissett, Smith, Baker Mayfield, Nathan Ray Seebeck, He’ll, Aidan Hutchinson, Jared Goff, Goff, Mayfield, Mike Evans, Derrick Barnes, Williams, Houston’s, Chicago’s Caleb Williams, Stroud, CJ Stroud, He’s, Jonathan Owens, Tyrique Stevenson, Williams didn’t, “, Kevin C, Cox Organizations: NFL, Buffalo, Bills, Dolphins, Falcons – Eagles, Cowboys, Bears, Texans, Jets, Tennessee Titans, Tennessee, Chicago Bears, Ravens, Packers, Bengals, Jaguars, Browns, Rams, Titans, 49ers, Eagles, Detroit Lions, NFC, Liberty University, Green, Indianapolis Colts, Lambeau, Colts, Chiefs, Sunday, AFC, Baltimore, Mayo, Patriots, Mayo’s Patriots, Macdonald’s Seahawks, Broncos, The Patriots, Seahawks, Bucs, Lions NFC, Lions, Buccaneers, Washington, Tampa, Stroud, AFC South, Indianapolis, Chicago Locations: Miami, Philadelphia, San Francisco, Brazil, Green, Mahomes, New England, Seattle, Baltimore, Mayo, Foxboro, USA, Tampa ., Detroit, Houston’s C.J, Stroud

☆ I've held leadership roles at Yahoo, Google, and Facebook. Taking a demotion is what set my career on the right path.
▼ + stars: | 2024-09-14 | by ( Nora Redmond | ) www.businessinsider.com time to read: +5 min

I wanted to work in technology, and I wanted to work in business, so I went to get an MBA, as many people do. Coming out of Cornell's business school in 1999, I had a choice between traditional routes like consulting or brand management. Since then, I've spent 25 years working in leadership roles at tech companies, including Yahoo, Google, and Facebook. Sometimes, a demotion might be the right moveAt various stages in my career, I've had those kinds of crossroad moments. So, I'm teaching people how to scale companies while I'm scaling my own company, and I'm teaching people how to be great leaders while I'm building a company that helps people be great leaders.

Persons: —, Jennifer Dulski, It's, I've, That's, you've Organizations: Service, Rising Team, Stanford Graduate School of Business, Yahoo, Google, Facebook, Business, Rising, Stanford

☆ The Fed has the proof it wants that inflation is slowing, but the next move is still up in the air
▼ + stars: | 2024-09-14 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

A week's worth of inflation data showed that price pressures have eased substantially since their meteoric rise in 2021-22. "We got two more months of good inflation data" since the last Fed meeting, Claudia Sahm, chief economist for New Century Advisors, said in a CNBC interview Friday. Futures markets for most of the past week had lasered in on a quarter percentage point, or 25 basis point, rate cut. The inflation data "on its own would have gotten us 25 next week, as it should, and will get us a whole string of cuts after that," she said. [Fed officials] need to kind of clean it up, do a 50 basis point cut and then be ready to do more."

Persons: Jerome Powell, Claudia Sahm, Sahm Organizations: Banking, Housing, Urban, Capitol, Federal Reserve, Federal, New Century Advisors, CNBC, Fed Locations: Washington ,

☆ CNBC Daily Open: All key data is in — and it's made the Fed's policy path more uncertain
▼ + stars: | 2024-09-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Last Friday, the August employment report showed the number of jobs added was lower than expected but higher than the previous month. Wednesday's CPI report showed the lowest 12-month inflation rate in two-and-a-half years. In short, the data hasn't cleared up whether the Fed will cut by 25 or 50 basis points. They think there's a 57% chance of a 25 point cut and 43% of a 50 point one, according to the CME FedWatch tool.

Persons: Stefani Reynolds, We've, Wednesday's, Jeff Cox, Pia Singh, Sarah Min Organizations: Eccles Federal Reserve, Bloomberg, CNBC, U.S . Federal Reserve, PPI Locations: Washington ,

☆ Top economist Ed Hyman no longer sees recession coming, flips GDP forecast to positive
▼ + stars: | 2024-09-13 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Economists Ed Hyman is backing off his call for a hard landing, even though he still sees the potential for a recession ahead. "History and experience say to stick with a hard landing outlook," he said in a client note Thursday. "However, the hard math that our team has reviewed says flip to a soft landing outlook. "In our view, arguments for a hard landing are still persuasive," Hyman wrote. "So this flip could be a mistake," Hyman wrote.

Persons: Ed Hyman, Hyman, Ally, Russell Hutchinson, it's Organizations: ISI, Atlanta Federal Reserve, JPMorgan Chase, Federal Reserve Locations: New York

☆ Jeep CEO enacts turnaround plan after significant sales declines
▼ + stars: | 2024-09-13 | by ( Michael Wayland | ) www.cnbc.com time to read: +6 min

Nonetheless, Jeep CEO Antonio Filosa believes the brand's worst days are behind it and it's still possible to achieve the 1 million sales target. Jeep salesFilosa said Jeep, which reports sales quarterly, saw U.S. sales rise last month: They were up 28% from August 2023 and 55% from July. The New York Stock Exchange welcomes The Jeep Brand (NYSE: STLA) to the podium, on May 31, 2024. Ahead of such vehicles, Jeep has increased its media spending by 20% compared with the first half of the year, according to the automaker. 2024 Jeep Wagoneer S EV Jeep

Persons: Michael Wayland, Antonio Filosa, Filosa, Cox, Filosa's, Carlos Tavares, Stellantis, Jeep, Lynn Martin, Tavares, Bob Broderdorf, Nathan Laine Organizations: CNBC DETROIT, Jeep, Cherokee, Cox Automotive, CNBC, Council, New York Stock Exchange, Brand, NYSE Group, NYSE, Fiat Chrysler, France's PSA Groupe, Paris, Bloomberg, Getty, U.S, EV Locations: U.S, American

☆ Interest payments on the national debt top $1 trillion as deficit swells
▼ + stars: | 2024-09-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The U.S. government for the first time has spent more than $1 trillion this year on interest payments for its $35.3 trillion national debt, the Treasury Department reported Thursday. Subtracting the interest the government earns on its investments, net interest payments have totaled $843 billion, higher than any other category except Social Security and Medicare. The jump in debt service costs came as the U.S. budget deficit surged in August, edging closer to $2 trillion for the full year. The Fed is widely expected to lower rates next week, but just by a quarter percentage point. The benchmark 10-year note last yielded about 3.7%, down more than three-quarters of a percentage point since early July.

Organizations: U.S . Treasury, Treasury Department, Federal Reserve, Social Security Locations: Washington , U.S, U.S

☆ Fear and frustration in Ohio city as political debate seizes on growing Haitian population
▼ + stars: | 2024-09-12 | by ( Caitlin Stephen Hu | Omar Jimenez | ) edition.cnn.com time to read: +9 min

“I’m always working at the restaurant,” she told CNN. A: YES, Haitian immigrants are here legally, under the Immigration Parole Program. Later, taking stock of his new life and the politicization of Springfield’s Haitian community, Dorsainvil shrugged, seeing little choice in the matter. Several other people in Springfield told CNN they were dismayed by the rhetoric and racism that they felt had been stirred up in the city for political purposes. However, they are not allowed, nor have they ever been allowed, to mention Aiden Clark from Springfield, Ohio,” the father, Nathan Clark, said.

Persons: CNN — Rose, Rosena Jean Louis, “ I’m, “, ’ ”, Romane Pierre, Donald Trump, Sen, JD Vance, Mike DeWine, ” DeWine, Vance, Sherrod Brown of, Tim Scott of, Bryan Heck, she’s, Biden, Vilbrun, ”, Dorsainvil, Republicans don’t, Amy Cox, X, ” Clark’s, Aiden Clark, Nathan Clark, We’ve, Viles, ” “ Organizations: CNN, Local, Republican, Gov, CBS, “, of Homeland Security, TPS, Sens, Trump, Amazon, Republicans, ”, Haitian Locations: Springfield , Ohio, Springfield, Rue, Canton , Ohio, Springfield’s, Clark County, Haiti, Sherrod Brown of Ohio, Tim Scott of South Carolina, Caribbean, Dayton, Ohio . Ohio, Haitian

☆ CNBC Daily Open: Looking past sticky core inflation
▼ + stars: | 2024-09-12 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Spencer Platt | Getty Images News | 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. The S&P 500 climbed 1.07%, the Dow Jones Industrial Average added 0.31% and the Nasdaq Composite shot up 2.17%. Core inflation, to which the Fed pays more attention because it more accurately reflects price movements, came in a bit higher than expected for the month. Core inflation was higher than the headline number because food and energy prices are stripped out from the former.

Persons: Spencer Platt, –, Jeff Cox, Pia Singh, Lisa Kailai Han Organizations: Getty, CNBC, Dow Jones, Nasdaq, Fed, of Labor Statistics, Nvidia, Reuters, U.S . House Locations: Brooklyn, New York City, U.S, Saudi Arabia

☆ Your old Facebook and Instagram posts were probably used to train Meta's AI. You can't opt-out as an American, but you can do this instead.
▼ + stars: | 2024-09-12 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

While users in the European Union can opt out of having their data used to train Meta's AI models, such an option doesn't exist in the US or Australia. The section on generative AI from Meta's privacy center says, "We use public posts and comments on Facebook and Instagram to train generative AI models for these features and for the open-source community. Meta says setting your audience to something besides "public" will keep your data from being used to train its AI models. Likewise, Meta says it may use your interactions with AI features, such as "messages to AI chats, questions you ask and images you ask Meta AI to imagine for you." AI competitors like Google and OpenAI have already made deals with many news publishers for training data.

Persons: —, It's, Melinda Claybaugh, Meta execs, Chris Cox, Instagram Organizations: Service, Meta, Facebook, Business, European Union, Bloomberg's Tech, Google Locations: Australia, European

☆ Wholesale prices rose 0.2% in August, in line with expectations
▼ + stars: | 2024-09-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Wholesale prices rose in August about in line with expectations, the final inflation data point as the Federal Reserve gets set to lower interest rates. The core increase was the same when excluding trade services. On a 12-month basis, headline PPI rose 1.7%. On the PPI measure, services prices pushed much of the gain, with a 0.4% monthly increase driven by a rise in services less trade, transportation and warehousing. The release comes a day after the BLS reported that consumer prices rose 0.2% on the month in line with expectations.

Persons: Dow Jones Organizations: Federal Reserve, of Labor Statistics, PPI, Labor Department, BLS

☆ Markets get nervous over high core inflation and see the Fed cutting slowly
▼ + stars: | 2024-09-11 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Stubbornly high core inflation virtually cemented the likelihood of a quarter percentage point cut from the Federal Reserve, which historically has avoided larger moves unless absolutely necessary. Shelter inflation is putting a floor under the CPI and likely keeping the Fed from reducing interest rates by more 25 basis points. "History back to 1990 supports the idea that an initial Fed rate cut of 50 basis points signals an imminent recession (2001 and 2007). "Their first cut will almost certainly be 25 basis points," Colas said. But the Fed, which targets inflation at 2%, prefers core readings as a better longer-term gauge for inflation.

Persons: Dow Jones, —, Nick Colas, Jerome Powell, Colas, That's Organizations: Federal Reserve, Labor Department, CPI, Fed, Traders, Open Market, PCE

☆ Consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021
▼ + stars: | 2024-09-11 | by ( Jeff Cox | ) www.cnbc.com time to read: 1 min

Prices increased as expected in August while the annual inflation rate declined to its lowest level since February 2021, according to a Labor Department report Wednesday that sets the stage for an expected quarter percentage point rate cut from the Federal Reserve in a week. The consumer price index, a broad measure of goods and services costs across the U.S. economy, increased 0.2% for the month, in line with the Dow Jones consensus, the Bureau of Labor Statistics reported. That put the 12-month inflation rate at 2.5%, down 0.4 percentage point from the July level and compared to the estimate for 2.6%.

Persons: Dow Jones Organizations: Labor Department, Federal Reserve, of Labor Statistics Locations: U.S

☆ Two key inflation reports this week will help decide the size of the Fed's interest rate cut
▼ + stars: | 2024-09-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +1 min

The Federal Reserve gets its last look this week at inflation readings before it will determine the size of a widely expected interest rate cut soon. On Wednesday, the Labor Department's Bureau of Labor Statistics will release its consumer price index report for August. With the issue virtually settled over whether the Fed is going to cut rates when it wraps up the next policy meeting Sept. 18, the only question is by how much. "Inflation data has taken a backseat to labor market data in terms of influence on Fed policy," Citigroup economist Veronica Clark said in a note. "But with markets — and likely Fed officials themselves – split on the appropriate size of the first rate cut on September 18, August CPI data could remain an important factor in the upcoming decision."

Persons: Veronica Clark, Dow Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, BLS, CPI, Citigroup, Fed, PPI

☆ Why playing it safe on immigration and crime could be a big risk for Harris
▼ + stars: | 2024-09-09 | by ( Ronald Brownstein | ) edition.cnn.com time to read: +19 min

Since Harris replaced President Joe Biden as the Democratic nominee, Trump has constantly attempted to portray her as weak on immigration and crime. On Friday, Harris also chose not to mention mass deportation during a radio interview with Univision, when the host asked her to summarize her argument to undecided Hispanic voters. “There is a way in which those [crime and immigration] issues in particular are also about bigger things,” said Adrianne Shropshire, executive director of BlackPAC, a group working to mobilize Black voters for Harris and Democrats. And many of those voters might recoil from these Trump policies on crime and immigration if they heard more about them. “What he is hoping is that the Black voters who he is [courting] don’t see that stuff,” Shropshire said.

Persons: Kamala Harris, Donald Trump, Trump, Harris, Joe Biden, Gary Segura, UnidosUS, Segura, Ohio Sen, JD Vance, Stephen Miller, Miller, Michael Ettlinger, Goldman Sachs, Jeffrey Passel, Passel, Rudolph Giuliani, Michael Bloomberg, Black, Ed Chung, Vera Action, Tim Walz, Trump’s, she’s, surrogates, ”, Adrianne, “, ” Segura, ” Tom Wong, Wong, ” Wong, Daniela Gilbert, That’s, Biden, Gilbert, ” Gilbert, ” Anthony Baber, Baber, “ Trump, ” Baber, ” Harris, She’s, Chung, –, Dana Bash, , Daniel Cox, BlackPAC Organizations: CNN, Democratic, Unidos, ”, White, Trump, of Police, National Guard, University of New, Carsey, of Public, Boston Globe, Pew Research Center, New York Police Department, Minnesota Gov, Univision, Black, GOP, US Immigration, Center, University of California, America’s, Marquette Law School, Religion Research Institute, Detroit, Whites, Survey Center, American Enterprise Institute Locations: California, Wisconsin, Texas, New York City, Phoenix, Las Vegas, Philadelphia, Atlanta, Savannah, Adrianne Shropshire, San Diego, United States, CNN’s, Michigan, Pennsylvania, Shropshire, ” Shropshire

☆ RFK Jr. back on Michigan presidential ballot after state Supreme Court ruling
▼ + stars: | 2024-09-09 | by ( Josephine Rozzelle | ) www.cnbc.com time to read: +4 min

Independent presidential candidate Robert F. Kennedy Jr. makes an announcement on the future of his campaign in Phoenix, Arizona, U.S. August 23, 2024. The Supreme Court overturned the state's Court of Appeals ruling Friday that had removed Kennedy from the state's ballot against the wishes of Michigan Secretary of State Jocelyn Benson. "Thus, [Kennedy] has not shown an entitlement to this extraordinary relief," the court majority said in its ruling. The dissenters in their last words underscored how significant the majority ruling could be to the outcome of the presidential race. As in Michigan, Kennedy sued officials in those two other states seeking to drop his name from their ballots.

Persons: Robert F, Kennedy Jr, Kamala Harris, Donald Trump, Kennedy, Michigan, Jocelyn Benson, Harris, Trump, Benson, Brian Zahra, David Viviano, Paul Cox Organizations: Democratic, GOP, Trump, Electoral, —, U.S, Michigan, Natural Law Party, Michigan Supreme, State Locations: Phoenix , Arizona, U.S, Michigan, Pennsylvania, Wisconsin, North Carolina, Carolina, In Wisconsin, Arizona , Nevada, Georgia, Nevada

☆ The $100,000 electric truck market is here. A guide to pickups from Tesla, GM, Rivian and Ford
▼ + stars: | 2024-09-07 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

There are currently a handful of electric trucks for purchase in the U.S. market: the Tesla Cybertruck, Ford F-150 Lightning, Rivian R1T and General Motors' GMC Hummer EV, GMC Sierra Denali and Chevrolet Silverado. The GMC Hummer and Rivian also have SUV versions, which feature similar functions as their pickup counterparts but in different forms. The SUV version is smaller and more manageable to drive than the pickup truck version. When the F-150 Lightning hit the market, it was the first "mainstream" electric truck. An electric Ford F-150 next to a Tesla Cybertruck in front of Ford's world headquarters on Aug. 27, 2024 in Dearborn, Mich. Michael Wayland / CNBC

Persons: Michael Wayland, CNBC DETROIT – Tesla, Stephanie Brinley, it's, Stephanie Valdez Streaty, Tesla, Ford, Rivian R1T, Rivian, Kelley, Sierra EVs Organizations: GMC, Denali, Tesla, Ford, CNBC DETROIT, Motors, Rivian Automotive, P Global Mobility, Cox Automotive, General Motors, GMC Hummer EV, GMC Sierra Denali, Chevrolet Silverado, Motor Intelligence, Renaissance Center, CNBC, GM, U.S . Environmental Protection Agency, Cruise, Silverado, GMC Sierra GM's, DC, Chevrolet, Sierra Locations: U.S, Detroit, Dearborn, Mich

☆ Fed Governor Waller backs interest rate cut at September meeting, open to larger move
▼ + stars: | 2024-09-06 | by ( Jeff Cox | Jeff Cox Is A Finance Editor With Cnbc.Com Where He Covers All Aspects Of The Markets | Monitors Coverage Of The Financial Markets | ) www.nbcnews.com time to read: +2 min

Federal Reserve Governor Christopher Waller on Friday backed an interest rate cut at the upcoming central bank policy meeting in less than two weeks, and indicated he’d be open to a substantial reduction if necessary. Other policymakers recently have advocated easing policy soon, but this is one of the clearest indications it will happen at the Sept. 17-18 Federal Open Market Committee meeting. “Determining the pace of rate cuts and ultimately the total reduction in the policy rate are decisions that lie in the future,” Waller added. With inflation and employment near our longer-run goals and the labor market moderating, it is likely that a series of reductions will be appropriate,” he said. Futures market pricing following the jobs report tilted toward a greater likelihood of a quarter percentage point rate reduction this month.

Persons: Christopher Waller, ” Waller, Waller, verbiage, Jerome Powell, —, nonfarm, Dow Jones, ” Organizations: Federal, Council, Foreign Relations, Labor Department, Dow Locations: New York

☆ August payrolls grew by a less-than-expected 142,000, but unemployment rate ticked down to 4.2%
▼ + stars: | 2024-09-06 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

At the same time, the unemployment rate ticked down to 4.2%, as expected. The labor force expanded by 120,000 for the month, helping push the jobless level down by 0.1 percentage point, though the labor force participation rate held at 62.7%. The household survey, which is used to calculate the unemployment rate and is often more volatile than the survey of establishments, showed employment growth of 168,000. Markets showed little initial reaction to the data, with stock futures holding negative and Treasury yields also lower. While the August numbers were close to expectations, the previous two months saw substantial downward revisions.

Persons: Nonfarm, Dow Jones, Dan North Organizations: Federal Reserve, Labor Department's Bureau of Labor Statistics, BLS, North America, Allianz Trade, Manufacturing Locations: U.S, Dow

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