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Oil sags on soft Chinese spending, investor pause before US Fed rate move

Oil futures slipped from the highest levels in several weeks on Monday on weakness in consumer spending in China, the world's largest oil importer, and as investors paused buying ahead of the U.S. Federal Reserve's interest rate decision. Last week, oil benefited from the expectation that supply would tighten with additional sanctions on crude producers Russia and Iran, while possible lower interest rates in the U.S. and Europe would spur demand. "We feel that last week’s events have been appropriately priced and that this week will be bringing fewer items capable of supporting oil prices," said Jim Ritterbusch of consultancy Ritterbusch and Associates in Florida.

Federal Reserve is likely to slow its rate cuts with inflation pressures still elevated

Americans hoping for lower borrowing costs for homes, credit cards and cars may be disappointed after this week's Federal Reserve meeting. The Fed's policymakers are likely to signal fewer interest rate cuts next year than were previously expected. The officials are set to reduce their benchmark rate, which affects many consumer and business loans, by a quarter-point to about 4.3% when their meeting ends Wednesday.

Gold Edges Higher as Traders Assess Fed’s Rate-Cuts Outlook

(Bloomberg) -- Gold edged higher ahead of the Federal Reserve’s final interest-rate decision of the year, with traders also weighing the policy outlook for 2025.Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfLondon’s Tube Fares Are Set to Rise by 4.6% Next YearBullion’s gain followed a 2.6% decline in the previous two sessions on the back of mixed US data last week — including accelerating wholesale inflation and higher-than

Texas Governor Boasts Economy Will Surpass France on Trump Boost

(Bloomberg) -- Texas Governor Greg Abbott has a new ambition for the Lone Star State: surpassing France as one of the world’s largest economies. Most Read from BloombergHong Kong's Expat Party Hub Reshaped by Chinese InfluxHow California Sees the World, and ItselfCity Hall Is HiringLondon’s Tube Fares Are Set to Rise by 4.6% Next YearAmerican Institute of Architects CEO ResignsAbbott predicted that economic output in Texas would soon exceed that of the struggling European nation thanks to boomin

Fed sees a glimmer that recent US productivity gains may last

But her next step demonstrated why some Federal Reserve officials see the U.S. job market as not only healthy but perhaps contributing to rising productivity they are coming to believe may persist: Within a week the 33-year-old human resources professional accepted a job as a recruiter with a pool equipment operator that allowed her to work from home in Pennsylvania in her area of expertise - a sweet spot, she feels, for high performance. When Fed policymakers gather this week for their last meeting of the year, the focus will be on an expected quarter-percentage-point interest rate cut and policymakers' updated outlooks for the economy and rate cuts. But influencing those discussions and the longer-term arc of monetary policy is an emerging debate about productivity and how fast output can grow without stretching the economy's capacity and generating inflation above the Fed's 2% target.