Americans sharply boosted spending at retailers in July despite higher prices and interest rates
WASHINGTON (AP) — Americans sharply boosted spending at retailers in July despite higher prices and interest rates.
WASHINGTON (AP) — Americans sharply boosted spending at retailers in July despite higher prices and interest rates.
Steep inflation has haunted Americans as our number one bogeyman over the last two and a half years.
Economists anticipate that Canada's annual inflation rate in August fell to its lowest level since March 2021.
"The debt service ratio is expected to face further upward pressure as mortgages continue to renew at higher rates, and as a loosened labour market dampens income growth."
Mark your calendar, here is the 2024 schedule of Federal Reserve meetings.
(Bloomberg) -- Back in January, Premier Li Qiang trumpeted China’s success in exceeding its 2023 growth goal without resorting to “massive stimulus.” Repeating the same feat this year now looks less likely.Most Read from BloombergEnergy Transfer Says Blast Occurred on Texas NGL LineHousing’s Worst Crisis in Decades Reverberates Through 2024 RaceAn Affordable Nomadic Home Design Struggles to Adapt to Urban LifeUS Driving and Congestion Rates Are Higher Than EverAn Artist Reimagines the Spaces of
Despite three interest rate cuts since June, Canadian consumers still appear to be feeling more stressed than their neighbors in the U.S., where the Federal Reserve has yet to start any reductions in borrowing costs. All three have crimped disposable incomes. With more mortgage renewals coming up and high population growth to put more upward pressure on rents, analysts and economists say Canadians will feel stressed well into next year and after, keeping economic growth muted.
Nearly everything on Wall Street is tumbling as fear of a slowing U.S. economy grows and sets off another sell-off for financial markets around the world. Investors are worried after Friday's jobs report showed U.S. employers pulled back on hiring in July. (AP video: Joseph B. Frederick)
It's been a long, long time — some 15 years — since a budget process at Ottawa city hall has raised the spectre of huge cuts or a painful property tax hike.Brace yourself, because Ottawa is on a financial roller-coaster not seen since the days of former mayor Larry O'Brien. Council relationships are not off track as they were back then, but this budget season is shaping up to be as unpredictable as those budgets were.The next few months of deliberations about a 2025 spending plan could bring eit
After cutting taxes mostly for the rich in his first term, former President Trump says he will help others by exempting tips, overtime and Social Security from taxes.
FREDERICTON — New Brunswick's finance minister says the province recorded a surplus of $500.8 million for the fiscal year that ended in March.
Asia kicks off the trading week on Monday with investors likely to give a big thumbs down to yet another batch of uniformly disappointing economic indicators from China, while at the same time cheering one of Wall Street's best weeks of the year. Fueled by growing hopes that the Federal Reserve will kick off its interest rate-cutting cycle with a 50-basis-point cut rather than a quarter-point move later this week, U.S. stocks rose solidly on Friday, which could provide a good springboard for Asia on Monday. That's the backdrop to the start of a hugely important week for markets around the world with the highlight being the Fed's rate decision and revised economic forecasts on Wednesday, but maybe even more so for Asian markets.
We recently compiled a list of the Jim Cramer’s 10 Handpicked Stocks to Watch. In this article, we are going to take a look at where AeroVironment Inc. (NASDAQ:AVAV) stands against Jim Cramer’s other handpicked stocks. In a recent episode of Mad Money, Jim Cramer expressed concern that there’s too much negativity in the market despite […]
Bukele spoke during the commemoration of 203 years of El Salvador independence.
A new budget dispute emerged within Germany's ruling coalition on Monday, with the finance ministry saying funds no longer needed to subsidize Intel's new chip-making plants should be used to balance the books and the economy ministry pushing back. Intel CEO Pat Gelsinger released a memo to employees on Monday outlining a number of steps the company would take to revive itself which included pausing construction at its project in Germany for two years. "All funds not required for Intel must be reserved in the federal budget to reduce unresolved financial issues," Finance Minister Christian Lindner of the fiscally hawkish Free Democrats (FDP) wrote on the social media platform X. "Anything else would not be a responsible policy."
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(Bloomberg) -- Canada’s benchmark two-year yield briefly dropped below the 10-year for the first time in more than two years, as traders looked ahead to Federal Reserve cuts and Bank of Canada Governor Tiff Macklem made dovish comments to the Financial Times.Most Read from BloombergPipeline Fire Near Houston Forces Some Residents to EvacuateHousing’s Worst Crisis in Decades Reverberates Through 2024 RaceAn Affordable Nomadic Home Design Struggles to Adapt to Urban LifeUS Driving and Congestion R
WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's cutting its key interest rate from a two-decade peak.
The Federal Reserve will likely not cut U.S. interest rates as deeply as the bond market expects due to a resilient economy and inflation remaining sticky, the BlackRock Investment Institute said in a note on Monday. The U.S. central bank is expected to cut interest rates for the first time in over four years on Wednesday, with speculation over the size of the first rate cut creating volatility across financial markets in the run-up to the decision. This would bring interest rates to about 2.8%-2.9% by the end of next year from the current 5.25%-5.5% range.
New data from the Ontario government's Financial Accountability Office shows the Toronto economic region gets far more funding to operate its ailing transit providers than the area including Ottawa — and the gap is growing wider. During the pandemic, the province joined with the federal government to help keep buses and trains going. But that money has run out, with nothing in the books to replace it. The Toronto economic region received per-resident subsidies of $191 in 2022-23, while Ottawa's
Financial market participants are increasingly of the opinion the US central bank will impose a bigger than expected interest rate cut this week, with the Bank of England holding off on a fresh reduction. At the start of a major week for central bank announcements and economic data, the focus of attention is firmly on the United States as the Federal Reserve prepares for its first rate cut since early 2020. It has been held at its 5.25%-5.5% target range since July last year, but will be reduced when the Federal Open Market Committee concludes its latest policy meeting on Wednesday.