Fed Cuts Rates by 50bps Amid Plunging Jobless Claims, Confusing Experts The day after the Federal Reserve cut interest rates by a significant 50 basis points (bps) — a move typically associated with major economic distress — jobless claims data has come in unexpectedly low, signaling that the economy is far from experiencing a "soft landing" and is...
Goldman Sachs Suggests Fed Rate Cut in July Amid Rising Confidence After Powell predictably avoided giving any clues about the timing of the Federal Reserve's next move, he did note that the last three inflation reports had "added to confidence." Speculation is now focused on when, not if, action will be taken. Goldman Sachs chief economist J...
Global Markets Weekly Wrap KW 26 : US Equity Markets Reach New Highs Amid Lower Trading Volumes in July Market Movers As the second half of 2024 begins, US stock markets hit new record highs despite reduced activity during the holiday-shortened trading week. Trading volume decreased by 19.1% compared to the 20-day average of 1.76 billion shar...
Fed Members' 2024 Rate Predictions Shift to Higher Levels, No Dissent In March, 10 Federal Reserve members predicted that interest rates would be at 4.625 percent or lower by the end of 2024, but now, none hold that view June Dots Summary No Cuts: 4 (previously 2 in March) 1 Cut: 7 (previously 2 in March) 2 Cuts: 8 (previously 5 in March) 3 C...
Rising Jobless Claims Amid Questionable Government Data and Trends Another week brings another jobless claims report from the government to scrutinize. According to the data from Biden's Department of Labor, 229,000 Americans filed for unemployment benefits for the first time last week, up from a revised 221,000 the previous week, and higher ...
April Job Openings Plunge to New Lows, Raising Economic Concerns After several months of uneventful JOLTS reports, Janet Yellen's preferred labor market indicator took a sharp turn for the worse. In March, job openings unexpectedly dropped by 325,000, bringing the total down to 8.5 million, the lowest in three years. The latest April update f...