Updates

Fed to cut rates by 25 basis points on Sept. 18, twice more in 2024: Reuters poll

Indradip Ghosh Reuters September 11, 2024 The Federal Reserve will lower interest rates by 25 basis points at each of the U.S. central bank’s three remaining policy meetings in 2024, according to a majority of economists in a Reuters poll that found only nine of 101 expected a half-percentage-point cut next week. With inflation approaching […]

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Larry Summers: 50 Basis Point Cut in September Was ‘A Mistake’

Max Zimmerman Bloomberg October 04, 2024 “With the benefit of hindsight, the 50 basis point cut in September was a mistake, though not one of great consequence,” Larry Summers says in a post on X. Employment report confirms suspicions we’re in a “high neutral rate environment” where monetary policy requires caution in rate cutting “No landing” and […]

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US Services Activity Expands at Fastest Pace Since Early 2023

Vince Golle Bloomberg October 3, 2024 US service providers expanded in September at the fastest pace since February 2023, driven by a flurry of orders and stronger business activity. The Institute for Supply Management’s index of services advanced 3.4 points to 54.9 last month, the group said Thursday. Readings above 50 indicate expansion, and the latest figure […]

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Treasury Market Expecting Fed Cuts Muting Reaction

Ira F. Jersey and Will Hoffman Bloomberg Intelligence September 20, 2024 The Federal Reserve’s downward shift in the dot-plot from the summary of economic projections has been fully priced by the market, but we think this outcome is less likely than an early end to cuts, or deeper cuts than are priced. The 2-year/10-year yield […]

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Yellen says U.S. economy remains solid, on path to ‘soft landing’ with no meaningful layoffs

Rebecca Picciotto CNBC September 7, 2024 Treasury Secretary Janet Yellen said that she believes the U.S. economy is healthy and that recent months of cooler jobs data is a signal of a soft landing, not a recession. Yellen said the U.S. is not seeing meaningful layoffs and the economy is “deep into a recovery.” U.S. […]

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US REACT: Mixed August Jobs Boost Odds of Smaller September Cut

Anna Wong, Stuart Paul, Eliza Winger, Estelle Ou Bloomberg September 6, 2024 OUR TAKE: August’s jobs report is a mixed one: The unemployment rate fell on a rounded basis, but headline nonfarm payroll gains disappointed. Moreover, the large downward revisions to prior data means that — adjusting for the BLS’s outdated factors for jobs created […]

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US INSIGHT: AI Driving a Productivity Boom? Early Evidence – Yes

David Wilcox Bloomberg August 16, 2024 Over the past four quarters, the US has enjoyed a solid run of real GDP growth. That could be a statistical blip that will be revised away as the Bureau of Economic Analysis refines its estimates. But if it survives, it will be a surprising development — because over […]

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Steadfast US Consumer, Job Market Allay Concerns About Economy

Vince Golle Bloomberg August 15, 2024 Steadfast US Consumer, Job Market Allay Concerns About Economy ▪              Retail sales increased in July by most since early 2023 ▪              Jobless claims remain low, but manufacturing data are weak Fresh readings on retail spending and unemployment benefits quelled some of the restiveness about the US economy, parts of […]

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How Apple could double its revenue growth, according to top analyst Laura Martin

Alex Harring CNBC July 10, 2024 Needham sees Apple doubling its revenue growth by building out an advertising business. Analyst Laura Martin said the big technology company’s single-digit revenue growth rate feels “increasingly at risk” over a three-year time horizon. Instead, she said the personal technology giant should follow fellow megacap tech titan Amazon’s lead in […]

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Starbucks Will Get a Jolt. Its Stock Is a Buy.

Evie Liu Barron’s June 14, 2024 Starbucks is brewing plans for a turnaround after surprisingly weak second-quarter earnings. Same-store sales at the world’s largest coffee chain declined 3% in North America and 6% in international markets, the result of soft demand and more competition in China. The stock, which has slumped almost 17% this year, […]

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