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Economic News and Analysis

The latest news and analysis about the health of the US economy.

Economic News

  • Business
    Reuters

    Central bankers should acknowledge blind spots in a less certain world, Fed's Mester says

    In nearly 40 years working for and helping lead the Federal Reserve, Cleveland Fed President Loretta Mester was part of a revolution that saw the U.S. central bank offer ever more detailed and plentiful commentary on the economy and monetary policy. As she heads towards mandatory retirement in June, the Cleveland Fed chief has a parting thought: With the economy in flux following the COVID-19 pandemic and with uncertainty surrounding even basic aspects of how things work, precision may be an enemy. "Markets certainly want to know exactly ... 'when are you going to cut rates?' That's what they focus on," Mester, 65, said in an interview with Reuters on the sidelines of an Atlanta Fed conference this week.

  • Business
    Reuters

    Morning bid: Fed fears overwhelm AI theme, gold recoils

    In an extraordinary turnabout in just five months, financial markets now fully price just one quarter-point interest rate cut from the Federal Reserve this year - compared to the six built into futures prices at the start of 2024. The good news is that's largely down to the sheer strength of the ongoing U.S. expansion - the bad news is that very strength makes it harder for the Fed to see inflation hitting its target and keeps it hesitating on a first rate cut. Thursday's reversal of fortunes on Wall St reflected all that clearly, with surprisingly strong business and labor market updates seeding the worst day of the month for S&P500 despite Nvidia's near 10% surge on another blowout earnings report infused by the artificial intelligence boom.

  • Business
    Bloomberg

    Oil Drops to Lowest in Over Three Months Despite OPEC+ Outlook

    (Bloomberg) -- Oil dropped to the lowest in more than three months as the market flashed signs of weakness, despite expectations for OPEC+ to continue its output cuts.Most Read from BloombergNvidia Stock Surges as Sales Forecast Delivers on AI HopesSpaceX Weighs Plan to Sell Shares at $200 Billion ValuationHarvard Students Walk Out of Commencement Protesting SuspensionsSingapore Air Changes Seatbelt Rules After Fatal TurbulenceSam Bankman-Fried Moved to Oklahoma Jail Despite Judge’s RequestBrent