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  • Aug 11, 2024

Oil Refiners in US Slow Down, Stoking Global Crude Glut Worries

(Bloomberg) -- Some of the top US oil refiners are throttling back operations at their facilities this quarter, adding to concerns that a global glut of crude is forming.Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceLos Angeles Sees Remote Work Helping ‘No Car’ 2028 Olympic GamesIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestNYC Subway Riders See ‘Exceptionally

  • Aug 10, 2024

Small US Inflation Pickup Won’t Derail a Fed Rate Cut in September

(Bloomberg) -- US inflation probably picked up modestly in July, but not enough to derail the Federal Reserve from a widely anticipated interest-rate cut next month.Most Read from BloombergHow a Tiny Midwestern Town Became a Mecca for Modern ArchitectureAfrica’s Richest City Needs $12 Billion to Fix InfrastructureIn DNC, Chicago’s Embattled Transit System Faces a High-Profile TestHow Chicago’s Gigantic Merchandise Mart Is Still Thriving as Office SpaceNYC Subway Riders See ‘Exceptionally High’ A

  • Aug 10, 2024

Fed's Bowman: Rate cuts will be needed if inflation keeps falling

"Should the incoming data continue to show that inflation is moving sustainably toward our 2% goal, it will become appropriate to gradually lower the federal funds rate to prevent monetary policy from becoming overly restrictive on economic activity and employment," Bowman said in remarks prepared for delivery to a closed meeting of the Kansas Bankers Association. "But we need to be patient and avoid undermining continued progress on lowering inflation by overreacting to any single data point."

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