An Aldi supermarket in Alhambra, California, US, on Thursday, June 27, 2024. Eric Thayer | Bloomberg | Getty ImagesContrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession, and the predicted upcoming U.S. Federal Reserve rate cuts will not be...
Category: Economy
No longer a financial reservoir? Saudi Arabia’s spending confirms clear shift in strategy
Riyadh, Saudi Arabia.Xavierarnau | E+ | Getty ImagesSaudi Arabia is moving full steam ahead with its focus on domestic investment — and with that, higher requirements for foreigners coming to the kingdom to take capital elsewhere.The kingdom's $925 billion sovereign wealth fund, the Public Investment Fund, saw its assets jump...
Consumer spending jumped in July as retail sales were up 1%, much better than expected
Consumer spending held up even better than expected in July as inflation pressures showed more signs of easing, the Commerce Department reported Thursday.Advanced retail sales accelerated 1% on the month, according to numbers that are adjusted for seasonality but not inflation. Economists surveyed by Dow Jones had been looking for...
Annual inflation rate slows to 2.9% in July, lowest since 2021
Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September.The consumer price index, a broad-based measure of prices for goods and services, increased 0.2% for the month, putting...
Trump says he should get a say on Federal Reserve interest rate decisions
Republican presidential candidate former President Donald Trump speaks during a press conference at his Mar-a-Lago estate on August 08, 2024, in Palm Beach, Florida. Joe Raedle | Getty ImagesRepublican presidential nominee Donald Trump on Thursday said that he should have a voice when the Federal Reserve makes its decisions on interest...