News

"The uncertainty about policy makes it particularly hard to make estimates of what the neutral rate is and what the inflation rate is in particular," Goolsbee told CNBC. With the policy rate well above its eventual stopping point of around 3%, Goolsbee said, dropping inflation means the Fed will need to bring it down "a fair bit" over the next 12 to 18 months. Projections released this week after the Fed cut its policy rate by a quarter of a percentage point to the 4.25%-4.50% range show most U.S. central bankers see just 50 basis points of cuts next year.

(Bloomberg) -- Federal Reserve Bank of Cleveland President Beth Hammack, in explaining her dissenting vote at this week’s central bank meeting, said interest rates should be held steady until there’s more progress in cooling inflation.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Pl

Hawk Tuah girl broke days of silence to say she wants to hold those responsible to account.

(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee said he adjusted his outlook for interest rates a little higher for 2025 but added he still expects borrowing costs to fall a “fair bit more” over the next 12 to 18 months. Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air

The U.S. dollar retreated from a two-year high on Friday, but was heading for its third consecutive week of gains, with data showing a slowdown in inflation two days after the Federal Reserve delivered a cut to interest rates. The dollar was down 0.47% on the day against a basket of six other currencies at 107.95 after spiking as high as 108.54 - its highest level since November 2022. It was set to end the week 1% higher.

(Bloomberg) -- The Federal Reserve’s preferred measure of underlying inflation was muted in November, a step in the right direction for policymakers looking to cut interest rates further in 2025.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisThe Architects Who Built MiamiReviving a Little-Known Modernist Landmark in BuffaloNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on Seneg

The company said the takeover offer was backed by Ron Burkle, the chairman.