Generational wealth gap widens as millennials lag behind
WEBAug 30, 2024 · This is less than the 3.5% they held in 1989, and it means they have less than $60,000 in wealth on average. This data reveals a growing divide: the wealthiest 0.1% are not just outpacing the bottom 50%, but also widening the gap with the top 1% and top 10%. This trend shows that wealth is becoming more concentrated at the top.
US consumer growth shows stability in August
WEB3 days ago · Real personal consumption expenditures in the U.S. rose 0.15% month-on-month in August. This figure suggests a strong third quarter for consumer spending. If growth in September is similar, it would translate to quarter-on-quarter growth of over 3% on an annualized basis. Experts expect consumer demand to remain resilient.
FOMC cuts interest rates and looks at the labor market
WEBSep 21, 2024 · Federal Reserve Chairman Jerome Powell initiated a rate cut today, with the Federal Open Market Committee (FOMC) lowering the target range for the federal funds rate by 50 basis points to 4.75% to 5.0%. The amended statement emphasized the labor market and the goal of maximum employment. The …
Jerome Powell signals september rate cut - Financial World
WEBAug 25, 2024 · During his speech in Jackson Hole, Federal Reserve Chairman Jerome Powell gave a clear signal for a rate cut in September. With the key statement "The time has come to adjust policy," Powell increased the likelihood of an imminent monetary policy measure. The minutes of the July meeting already showed that many participants are open to …
ECB signals possible rate cut in October amid inflation drop
WEB19 hours ago · The European Central Bank (ECB) is edging closer to a potential rate cut in October, following recent signs of slowing inflation and economic activity in the Eurozone. Christine Lagarde, President of the ECB, indicated a shift in the bank's stance during her address at the European Parliament, hinting that a rate cut could be on the horizon.
Election outcome could determine dollar's immediate future
WEB1 day ago · The USD/JPY might settle at 135, while the EUR/USD could rise to 1.14, reflecting a stronger euro against the dollar. The Australian dollar might also benefit, with AUD/USD reclaiming the 0.70 level, signaling renewed strength. However, if Donald Trump wins the election, any weakness in the dollar induced by the Fed's policies might be brief.
FOMC to Rethink Monetary Easing Amid Persistent Inflation
WEBApr 30, 2024 · The FOMC's potential shift in language regarding inflation and monetary easing bears significant implications for the markets. An acknowledgment of sustained high inflation rates could dampen hopes for imminent rate cuts, altering investment landscapes and risk assessments. If the FOMC opts to reduce the …
US economy experiences below-trend growth - Financial World
WEBAug 20, 2024 · The evidence suggests that the US economy is currently stuck in a rut of below-trend growth. This situation will likely persist if the Federal Reserve does not ease monetary policy quickly enough. The low momentum associated with below-trend growth makes the economy more susceptible to a recession if a …
What frequent shocks and improved risk management mean for …
WEBAug 23, 2024 · These risks can be addressed through targeted measures such as reallocating capital, providing liquidity or changes in fiscal and monetary policy. A key difference between now and a decade or two ago is that investors now experience more frequent and more disruptive shocks, while at the same time, our ability to …
Fed's FOMC statement indicates possible September rate cut
WEBAug 2, 2024 · The Bank of England (BoE) made a stunning move yeasterday by cutting the Bank Rate by 25 basis points to 5.00%. This decision comes as a preemptive measure ahead of the expected Federal Reserve (Fed) rate cut in September, said Macquarie's analysts. The prospect that the Fed will cut in September, …