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Lower Inflation, Elevated Unemployment in CBO's 2025 Economic Projection

The Congressional Budget Office stated on Friday that it anticipates inflation to almost reach the Federal Reserve's 2% target rate in 2024 as general growth is anticipated to slow and unemployment to climb through 2025, according to revised economic predictions for the next two years.

Dec 16, 2023 9:38 AM EST

Lower Inflation, Elevated Unemployment in CBO's 2025 Economic Projection

Markets

US Markets Rocket Forward, Dow Inches Closer to Uncharted Territory

US stock futures increased on Friday, as optimism over potential deeper and earlier interest rate reduction continued to drive the Dow toward a new high for the third consecutive day.

News

Amazon Under Pressure from Rising Stars, Makes China Charm Offensive to Revive Growth

As it battles increasing competition from low-cost online retailers Temu and Shein, both of which have their origins in the second-largest economy in the world, Amazon is extending a new offer to sellers situated in China.

News

New Yorkers Breathe Easier as Medical Debt Loses Credit Grip

New York is becoming the second state in the union to shield its citizens' credit ratings from being damaged by unpaid medical debt.

Wall Street Eyes $6 Trillion Cash Tsunami Sparked by Fed Pivot

A roughly $6 trillion hoard of cash sitting on the sidelines is one significant element that investors watching whether markets can continue their wild run are keeping an eye on.

Dec 15, 2023 9:03 AM EST

Black Friday Bonanza? Retail Sales Rise Despite Inflation Fears, Holiday Spirit Intact

Americans unexpectedly increased their spending from October to November as the unofficial Christmas season began, demonstrating the power of buyers despite rising costs.

Dec 14, 2023 10:05 PM EST

Moving Day in Manhattan? Median Rents Tumble, Marking a Potential Turning Point

A research issued on Thursday, reveals that rentals in Manhattan decreased for the first time in more than two years as the number of vacant apartments increased and tenants refused to accept price reductions.

Dec 14, 2023 9:00 AM EST

HSBC Declares New Market Paradigm Where Fixed Income Reigns

According to HSBC Asset Management, when the global order breaks, markets have entered a "new paradigm" and recession risk indicates that "bonds are back.

Dec 14, 2023 8:05 AM EST

Wall Street Cheers as Fed Takes Pause, But Eyes Bumpy Economic Landing Next Year

U.S. equities are poised to reach new highs as a result of the Federal Reserve's dovish stance, but some investors are concerned that the market may be moving too quickly given the uncertain outlook for the economy and corporate earnings.

Dec 14, 2023 7:23 AM EST

Fed Pivots, Eyes 3 Interest Rate Cuts to Kickstart Next Year

For the third consecutive week, the Federal Reserve held its benchmark interest rate steady on Wednesday, and policymakers hinted that they anticipate reducing it by three quarter points in the next year.

Dec 14, 2023 5:41 AM EST

Holiday Season Could Leave Luxury Retailers Drowning in Unsold Inventory

Early holiday shopping season reductions from high-end fashion stores such as Bergdorf Goodman on New York's Fifth Avenue fueled fears that a lackluster Christmas would lead to inventory gluts, perhaps pulling labels into a lowering cycle that would cheapen their image.

Dec 13, 2023 10:37 PM EST

US Stocks Navigate Uncertainty as $5 Trillion Options Hang in the Balance

Market participants indicated that dealers squaring their books ahead of what is expected to be the largest-ever options expiry for S&P 500-linked derivatives may be assisting in minimizing volatility in U.S. equities.

Dec 13, 2023 8:59 AM EST

US Soaring Prices in Restaurants and Car Repairs Contribute to November Surge

Inflation in the United States remained virtually constant last month, owing to falling gas costs. However, underlying pricing pressures from apartment rents, restaurant meals, vehicle insurance, and a variety of other services remained persistently high.

Dec 13, 2023 5:08 AM EST