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  • Aug 23, 2024

Major Central Banks Now Aligned as Powell Signals Fed Cuts Ahead

(Bloomberg) -- Officials from three of the world’s major central banks on Friday signaled they are firmly on course to lower — or continue lowering — interest rates in the coming months, marking the beginning of the end for an era of high borrowing costs as the global economy slips out of the grip of post-Covid inflation.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Co

  • Aug 23, 2024

Bond Traders Are Vindicated as Powell Sets Up September Fed Cut

(Bloomberg) -- Bond investors’ big bet on US Treasuries is paying off after Federal Reserve Chair Jerome Powell cemented expectations for an interest-rate cut next month.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Driving Vans, Hamburg Tries to Make Microtransit WorkUK Transport Minister Clears Path for More 20mph Spe

  • Aug 23, 2024

Jerome Powell’s Pivot Fuels an All-Conquering Wall Street Rally

(Bloomberg) -- Jerome Powell’s most decisive signal yet that his inflation-fighting mission has been accomplished has helped restore order to markets that only three weeks ago were engulfed in the worst upheaval since the pandemic.Most Read from BloombergChicago's Migrant Surge Is Stirring Trouble for Democrats in DNC Host CitySydney Central Train Station Is Now an Architectural DestinationWith Housing Costs High, Democrats Hone YIMBY MessageWith Self-Driving Vans, Hamburg Tries to Make Microtra

  • Aug 23, 2024

TSX hits record high as Fed chief signs off on rate cuts

(Reuters) -Canada's main stock index rose to a record high on Friday, with energy and financials contributing to broad-based gains as Federal Reserve Chair Jerome Powell endorsed the start of rate cuts, raising hopes the economy could avoid recession. For the week, the TSX added 1%, its third straight week of gains. Wall Street's major indexes also rose after Powell said, "The time has come" to reduce interest rates.

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