News

(Bloomberg) -- The Federal Reserve is likely to pause its interest-rate cuts after December to assess the economic impact of policies under President-elect Donald Trump, Karen Ward, chief market strategist for Europe, the Middle East and Africa at JPMorgan Asset Management, said. 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

(Bloomberg) -- An ally of Donald Trump in the US Senate has a plan for filling up the president-elect’s proposed strategic Bitcoin stockpile without adding to the government deficit: Sell off some of the Federal Reserve’s gold. 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 Emis

High union wage settlements and the possibility of coming tariff increases are among the uncertainties that could make U.S. Federal Reserve officials more cautious about thinking they have won their battle against high inflation, Richmond Federal Reserve president Tom Barkin said on Thursday. "Being thoughtful, gradual, systemic, methodical... in terms of declaring victory is not a bad judgment, because you may have cost pressures coming for things like wages or tariffs or whatever happens...

The U.S. Consumer Financial Protection Bureau (CFPB) has taken steps to put Alphabet's Google under formal federal supervision, the Washington Post reported, potentially mounting yet another regulatory challenge for the Big Tech giant. Google has fiercely resisted the idea over months of highly secretive talks, the report said on Thursday, citing two people familiar with the discussions. Federal supervision status can allow regulators access to a company's internal records.

NEW YORK (Reuters) -Federal Reserve governor Adriana Kugler said Thursday the central bank has made considerable progress in working to achieve its job and inflation goals, while stopping short of offering firm guidance over what that means for the near-term monetary policy outlook. “The United States has seen considerable disinflation while experiencing a cooling but still resilient labor market,” Kugler said in a speech given before the 2024 Annual Meeting of the Latin American and Caribbean Economic Association and the Latin American and Caribbean Chapter of the Econometric Society, in Montevideo, Uruguay. But while there’s been progress on getting inflation back to the 2% target, Kugler noted there are likely to be ongoing challenges to further ease price pressures from housing factors and other factors.

(Bloomberg) -- US producer prices picked up in October, fueled in part by gains in portfolio management costs and other categories that feed into the Federal Reserve’s preferred inflation gauge.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 SaceNYC Congestion Pricing Plan With $9 Toll to Start in JanuaryThe Urban-Rural Divide Over

After the data, which showed producer prices excluding food and energy rose 3.1% in the 12 months through October, traders priced in about a 75% chance of a quarter-point interest-rate cut in December, versus more than 80% before the data.