Port of Miami dockworkers strike near the port entrance and demand a new labor contract, on October 1, 2024 in Miami, Florida. Giorgio Viera | Afp | Getty ImagesA strike hitting ports along the East and Gulf coasts could stoke prices for food, autos and a host of other consumer goods...
Category: Economy
Key Fed inflation gauge at 2.2% in August, lower than expected
Inflation moved closer to the Federal Reserve's target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday.The personal consumption expenditures price index, a gauge the Fed focuses on to measure the cost of goods and services in the U.S. economy, rose 0.1% for the...
Swiss central bank cuts rates by a quarter point in third trim this year
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. Denis Balibouse | ReutersThe Swiss National Bank on Thursday took a third step to loosen monetary policy this year, bringing its key interest rate down by 25 basis points to...
Britain’s finance minister calls for spending discipline but no return to austerity
Britain's Chancellor of the Exchequer Rachel Reeves speaks on the second day of the annual Labour Party conference in Liverpool, north-west England, on September 23, 2024.Paul Ellis | Afp | Getty ImagesLiverpool, ENGLAND โ U.K. Finance Minister Rachel Reeves vowed on Monday that Britain will not return to austerity, but...
September consumer confidence falls the most in three years
Consumers' view on the economy tumbled in September, falling by the largest level in more than three years as fears grew about jobs and business conditions, the Conference Board reported Tuesday.The board's consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021....