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(Bloomberg) -- Oil fell, deepening a weekly loss, on the impact from a stronger dollar and concerns that the global market will flip to a glut next year.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsBrent dropped to near $72 a barrel and was down by more than 2% this w

(Bloomberg) -- Malaysia’s economy expanded as expected in the third quarter, while remaining on track to meet official forecasts on a surge in investments and increased domestic spending.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndSaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsGross domestic product rose 5.3% in

The dollar was headed for its best week in more than a month on Friday, buoyed by expectations of fewer Federal Reserve rate cuts and the view that Donald Trump's policies could further stoke inflation when he assumes office in January. Fed Chair Jerome Powell said on Thursday the central bank does not need to rush to lower interest rates, citing ongoing economic growth, a solid job market and sticky inflation as reasons for caution against easing policy too quickly. Traders reacted by paring bets of the pace and scale of future U.S. rate cuts, with Fed funds futures now implying just 71 basis points worth of easing by end-2025.

Powell, asked at an event in Dallas whether he would consider being the first Fed chair in more than seven decades to remain on the Fed board after no longer serving as its leader, said only that he is committed to serving out his term as chair. "I'll certainly serve to the end ... of my chair term," Powell said. Powell's term as a Board of Governors member expires in January 2028.

(Bloomberg) -- Stocks fell after Jerome Powell signaled there’s no need for the Federal Reserve to rush with rate cuts as the economy is holding up.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndNYC Congestion Pricing Plan With $9 Toll to Start in JanuarySaudi Neom Gets $3 Billion Loan Guarantee From Italy Export Credit Agency SaceThe Urban-Rural Divide Over Highway Expansion and EmissionsThe equity mark

(Bloomberg) -- Traders pared back their expectations for an interest-rate cut in December and policy-sensitive US yields jumped after Federal Reserve Chair Jerome Powell said economic resilience gives officials room to ease more carefully.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesZimbabwe City of 700,000 at Risk of Running Dry by Year-EndNYC Congestion Pricing Plan With $9 Toll to Start in JanuarySaudi Neom Gets $3 Billion Loan Guarantee From Italy Export C

Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed's officials want to see where it heads next. Powell, speaking in Dallas, said that inflation is edging closer to the central bank's 2% target, “but it is not there yet." “The economy is not sending any signals that we need to be in a hurry to lower rates,” the Fed chair said.