‘Bite of these higher rates is gaining traction almost every day,’ KBW CEO Thomas Michaud warns
A major financial services CEO warns the economy hasn’t fully absorbed higher interest rates yet. Thomas Michaud, who runs Stifel…
Fed holds off on rate hike, but says two more are coming later this year
WASHINGTON — The Federal Reserve on Wednesday decided against what would have been an 11th consecutive interest rate increase as…
Inflation rose at a 4% annual rate in May, the lowest in 2 years
The inflation rate cooled in May to its lowest annual rate in more than two years, likely taking pressure off…
UK short-term borrowing costs shoot past ‘mini-budget’ crisis levels on strong labor data
LONDON — U.K. borrowing costs, as measured by the yield on short-dated government bonds, rose above levels last seen following…
Inflation outlook hits two-year low in latest New York Fed survey
Consumers are growing more optimistic that inflation is on the way down, according to a New York Federal Reserve survey…
Jobless claims increase more than expected to their highest since October 2021
First-time jobless claims rose sharply last week in a potential sign that the labor market is softening up after more…
Treasury Secretary Yellen says she wouldn’t be surprised to see more bank consolidation
WASHINGTON — Given the overall environment in the industry, it’s likely for some smaller banks to consolidate, Treasury Secretary Janet Yellen…
Senegal, one of Africa’s bastions of stability, faces its gravest threat of unrest in decades
The criminal conviction of a populist opposition leader in Senegal has triggered widespread unrest that threatens the West African country’s…
World Bank sees major economies growing at much slower pace thanks to higher rates and banking stress
Higher rates and overhangs from this year’s banking crisis will drastically slow economic growth for the biggest global economies, the…
