U.S. wraps up fiscal year with a budget deficit near $1.7 trillion, up 23%
The federal government wound up its fiscal year in September with a deficit just shy of $1.7 trillion, the U.S.…
Fed’s Raphael Bostic doesn’t foresee rate cuts coming until ‘late 2024’
Atlanta Federal Reserve President Raphael Bostic on Friday said he doesn’t envision interest rate cuts happening until well into 2024.…
Remittances to Mexico near a record but ‘super peso’ crimps spending power
People sending money back to Mexico this year have faced a new challenge: the “super peso.” The Mexican currency reached…
Retail sales rose 0.7% in September, much stronger than estimate
Consumers showed surprising strength in September, boosting retail sales well above expectations despite high interest rates and worries over a…
U.S. can ‘certainly’ afford military support to both Israel and Ukraine, Janet Yellen says
U.S. Treasury Secretary Janet Yellen said the country can “absolutely” afford to financially support both Israel and Ukraine in their…
Philadelphia Fed President Harker advocates holding interest rates ‘where they are’
Philadelphia Federal Reserve President Patrick Harker said Friday he thinks the central bank can stop raising interest rates. “Absent a…
JPMorgan Chase CEO Jamie Dimon warns this is ‘the most dangerous time’ for the world in decades
JPMorgan Chase delivered strong profits for the third quarter along with a stern warning Friday from its top executive about…
Getting to 2% inflation won’t be easy. This is what will need to happen, and it might not be pretty
In theory, getting inflation closer to the Federal Reserve’s 2% target doesn’t sound terribly difficult. The main culprits are related…
Consumer prices rose 0.4% in September, more than expected
Prices that consumers pay for a wide variety of goods and services increased at a slightly faster-than-expected pace in September,…
Already a humanitarian crisis, war with Hamas could have major impact on Israel’s economy
As Israel prepares for what could be a long war with massive humanitarian implications, there are also concerns about how…
