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Federal Reserve minutes: Inflation is cooling, but more evidence is needed for rate cuts
Federal Reserve minutes: Inflation is cooling, but more evidence is needed for rate cuts
The US labor market has held its own despite swirling forces — high inflation, an aggressive interest-rate-hiking campaign, pandemic aftershocks and geopolitical uncertainty — that seemed all but certain to trigger a recession.
Fed officials are paying close attention to the labor market. Unemployment has been steadily rising for the last 3 months. However, the unemployment rate is expected to stabilize at 4.0%, repeating the level of the previous month. If the NFP report comes out below the market expectations and the unemployment
The June jobs report comes at a crucial moment as economists debate whether the US labor market is still normalizing to pre-pandemic levels or showing the early signs of a broader slowdown.
WASHINGTON (Reuters) -First-time applications for U.S. unemployment benefits increased last week, while the number of people on jobless rolls rose further to a 2-1/2 year high towards the end of June, consistent with a gradual cooling in the labor market. Ebbing labor market momentum, together with abating inflation pressures, keep the Federal Reserve on track to start cutting interest rates this year, with financial markets hopeful that the easing cycle could start in September. Fed Chair Jerome Powell said on Tuesday that the economy was back on a "disinflationary path," but stressed policymakers needed more data before cutting rates.
The number of Americans filing for unemployment benefits inched up last week and remain historically low, however the total number of people collecting jobless benefits continues to grow. The Labor Department reported Wednesday that jobless claims for the week ending June 29 rose by 4,000 to 238,000 from 234,000 the previous week. The total number of Americans collecting unemployment benefits rose for the ninth straight week, to 1.86 million, for the week of June 22.
Joe Biden has said he is “proud” to be the first “black woman to serve with a black president” in one of a series of verbal gaffes as the USA celebrated Independence Day.
Corazon Dandan died after being pushed into an oncoming BART train at San Francisco’s Powell Street Station at around 11 p.m on Monday night. The suspect, 49-year-old Trevor Belmont, also known as Hoak Taing, was arrested at the scene and booked into the San Francisco County Jail on suspicion of homicide and elder abuse. Dandan, who was Filipino American, was a dedicated telephone operator at the Westin St. Francis and other hotels.
LONDON—The Conservatives, the world’s winningest political party, were booted out of power in dramatic style on Thursday after 14 years of chaotic and divisive rule.The Labour Party had secured a landslide victory, ending an era of Conservative rule over Britain that stretches back to 2010; the year that the iPad and Instagram were launched and Lady Gaga wore that meat dress to the MTV music awards.In that time, the Conservatives have cycled through five leaders, each of them dragging the party
The TVB actress shares photos of her and her daughter, not revealing partner's identity
Joe Biden has for the first time said that he is considering ending his presidential campaign, according to reports.
Russian aggression in Ukraine poses a threat to world peace and stability. China provides material support for Russia’s actions. All this is entirely clear. In Beijing, immediately after a meeting with Xi Jinping in April this year, US Secretary of State Antony Blinken said that “Russia would struggle to sustain its assault on Ukraine without China’s support”. This included selling huge quantities of machine tools and micro-electronics that would be used in the Russian defence industry.
In a surprising turn of events Rod Stewart has received some shocking divorce news. See details.
The Love Island host just raised heart rates around the globe in a seriously sultry red latex dress. See photos
If there’s one thing that American voters overwhelmingly agree on, it’s that this year’s presidential election presents a stark choice. In the latest CNN poll by SSRS, 91% of registered voters say they see important differences between President Joe Biden and former President Donald Trump, dwarfing even the 77% of voters who said last fall that there were significant divides between the Democratic and Republican parties. Even among the so-called “double haters” – those with unfavorable views of
A husband who strangled his wife in front of her two children and lover on a video call was captured wheeling the suitcase containing her body out of his home.
The leader of the Labour Party, Keir Starmer, has been mentored by Barack Obama. The relationship is likely to continue if Starmer wins the UK election.
"Once it became clear he was committed to those ugly morals, I told him never to contact me."
Business Insider's reporter toured a secret room above economy where Air New Zealand flight attendants sleep on long-haul Boeing 777-300ER flights.
Margerita Lega plummeted almost 500ft to her death after being dragged over a cliff edge
With the removal vans on standby, the current prime minister has a portfolio of high-end properties to choose from