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Fed's Daly says inflation her main focus right now
Daly says modestly restrictive policy remains necessaryFed not facing policy tradeoffs now, Daly saysTwo Fed rate cuts possible this year, Daly says, but wide range of risksBy Ann Saphir OAKLAND, California, May 29 (Reuters) - U.S. Federal Reserve policymakers could still cut interest rates twice...Reuters
Thu, May 29
US Treasury Secretary Bessent: We will stabilize debt-to-GDP by 2028
United States (US) Secretary of the Treasury Scott Bessent stated the Trump administration's intention to "stabilize" the US's debt-to-Gross Domestic Product (GDP) ratio by 2028, and insisted that trade agreements will be announced in the weeks ahead.Fxstreet
Thu, May 29
CORRECTED-IDC cuts global smartphone shipments forecast on tariff volatility
May 29 (Reuters) - International Data Corp slashed its 2025 global smartphone shipment growth forecast to 0.6% from 2.3% on Thursday, citing tariff-driven economic uncertainty and a pullback in consumer spending. The downgrade signals challenges for manufacturers like Apple, who already face weakeni...Reuters
Thu, May 29
Costco misses sales expectations, but says it won't raise prices yet
Costco said raising prices would be 'last resort'The company re-routed shipments to mitigate tariff hitBeats Q3 adjusted comparable sales estimates on private label strengthBy Neil J Kanatt May 29 (Reuters) - Costco Wholesale COST.O missed analyst expectations for third-quarter revenue on...Reuters
Thu, May 29
BoE's Bailey: The UK's needs, not tariffs and trade, will be key driver for UK rates
Bank of England (BoE) Governor Andrew Bailey noted late on Thursday that the primary drivers behind the BoE's main reference rate remains the economic needs of the United Kingdom (UK), not external drivers such as the Trump administration's tariff policies.Fxstreet
Thu, May 29
Fed resolute on getting inflation down to 2%, Daly says
May 29 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly on Thursday said the central bank is "resolute" on getting inflation down to the Fed's 2% goal, and the Fed's policy is in a good place to do so."We are making progress and importantly, we remain resolute t...Reuters
Thu, May 29
Enterprise Products Partners notified of license requirement for specific exports by BIS
May 29 (Reuters) - Pipeline operator Enterprise Products Partners EPD.N said on Thursday it would need to obtain a license from the Bureau of Industry and Security for specific exports, such as ethane and butane, according to a filing with the Securities and Exchange Commission.Reuters
Thu, May 29
Fed resolute on getting inflation down to 2%, Daly says
May 29 (Reuters) - San Francisco Federal Reserve President Mary Daly on Thursday said the central bank is "resolute" on getting inflation down to the Fed's 2% goal, and the Fed's policy is in a good place to do so."We might not get here this year, but we are making progress and i...Reuters
Thu, May 29
WRAPUP 3-US labor market showing cracks; corporate profits post largest drop since 2020
Weekly jobless claims increase 14,000 to 240,000Continuing claims rise 26,000 to 1.919 millionCorporate profits fall $118.1 billion in first quarterEconomy contracts at 0.2% rate in Q1 by all measuresBy Lucia Mutikani WASHINGTON, May 29 (Reuters) - The number of Americans filing new applications ...Reuters
Thu, May 29
Trump summons Fed's Powell, tells him he's making a mistake on rates
Trump told Powell it's a mistake not to lower rates, White House saysPowell emphasized policy depends on economic data, Fed saysThe pair last met face to face in 2019, Powell's calendars showBy Gram SlatteryWASHINGTON, May 29 (Reuters) - U.S. President Donald Trump called Federal Reserve Cha...Reuters
Thu, May 29
US Trade Advisor Navarro: You can assume even if we lose tariff cases we'll do it another way.
Following the US Court of International Trade (USCIT) decision to suspend President Donald Trump's far-reaching tariffs, White House Trade Advisor Peter Navarro hit newswires reaffirming market expectations that even if the USCIT decision were to stand, the Trump administration intends to seek otherFxstreet
Thu, May 29
