Fed Chair Powell Signals More Rate Cuts but Warns Against …
WEB1 day ago · Federal Reserve Chairman Jerome Powell signaled on Monday that while more interest rate cuts are expected this year, the central bank is taking a cautious approach and is not in a rush to implement aggressive measures. Speaking at the National Association for Business Economics conference in Nashville, Powell emphasized that the Federal Reserve will continue to let economic data guide its ...
With $1.5 Billion Loan, Michigan’s Palisades Aims for Historic …
WEB1 day ago · The Palisades nuclear plant in Michigan has taken a significant step toward becoming the first nuclear reactor in U.S. history to restart operations after a shutdown. On Monday, the Department of Energy (DOE) announced that Palisades has secured a $1.5 billion federal loan to support the ambitious revival, which is being driven by Holtec International, the plant's owner.
China Stocks Soar in Biggest One-Day Rally Since 2008 Amid …
WEB1 day ago · Chinese stocks experienced their most significant single-day rally in 16 years on Monday, with domestic A-shares hitting an all-time high turnover. This came as investors rushed to capitalize on Beijing's latest wave of aggressive stimulus measures aimed at reviving a sluggish economy. The stimulus, which includes substantial rate cuts and fiscal support, has lit a fire under Chinese equities ...
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WEBBusiness Times is a leading source of business and financial news in Singapore and Asia. Read the latest headlines on U.S. economy, China, technology, entertainment, sports and more.
China Responds to U.S.-Led Naval Exercises with New Military …
WEB3 days ago · In a show of military cooperation, the armed forces of five countries, including the United States, Japan, Australia, New Zealand, and the Philippines, conducted joint maritime exercises in the South China Sea over the weekend. These exercises took place in the Philippines' exclusive economic zone ...
Fed’s Preferred Inflation Measure Signals Cooling Price Pressures ...
WEB4 days ago · According to the Commerce Department's report released on Friday, the personal consumption expenditures (PCE) price index, a key inflation gauge preferred by the Fed, increased by just 0.1% in August. On an annual basis, the inflation rate now stands at 2.2%, down from 2.5% in July, marking the lowest inflation reading since February 2021.
Congress Averts Shutdown but Faces December Showdown Over …
WEB5 days ago · As the U.S. Congress narrowly avoided a government shutdown this week, lawmakers now face the prospect of another looming funding crisis just before the Christmas holiday. The stopgap measure passed by both the House and Senate on Wednesday will keep federal operations running through Dec. 20, but it sets the stage for a potential budget showdown during the final weeks of the year.
Boeing Strike Enters Third Week, No Contract in Sight as Workers …
WEB4 days ago · As Boeing's machinists' strike stretches into its third week, tensions continue to rise between the company and the 33,000 workers represented by the International Association of Machinists (IAM). The two sides remain far apart on key issues, with mediated negotiations making little progress, and no new contract has been presented to union members for a vote.
Fed Cuts Interest Rates by Half Point Amid Growing Concerns …
WEBSep 18, 2024 · The Federal Reserve has initiated a significant move by cutting interest rates for the first time since the early days of the COVID-19 pandemic. On Wednesday, the central bank slashed the federal funds rate by 50 basis points, bringing it to a …
Government Shutdown Looms as Congress Faces Partisan …
WEBSep 10, 2024 · As Congress returns to Washington after a six-week summer recess, lawmakers are immediately confronted with a familiar yet urgent challenge: preventing a government shutdown. With just three weeks remaining until the September 30 deadline, the stakes are higher than ever. Former President Donald ...