As EVs stumble, automakers are bringing back a kind of hybrid that promises long range
The brief era of the extended range hybrid electric vehicle auto came and went with models like the Chevy Volt and BMW i3, but it may be poised for a comeback.
Federal Reserve speakers Friday include Bostic, Daly, and Goolsbee
- 1620 GMT/1220 US Eastern time: Federal Reserve Bank of Atlanta President Raphael Bostic gives welcome remarks before the Council for Economic Education’s 2025 National Economics Challenge, in Atlanta, Ga
- 1745 GMT/1345 US Eastern time: Federal Reserve Bank of San Francisco President Mary Daly participates in panel before virtual Reagan National Economic Forum, in Simi Valley, Calif
- At 2045 GMT/1645 US Eastern time: Daly will participate in another panel at the same Forum
- 2330 GMT/1930 user: Federal Reserve Bank of Chicago President Austan Goolsbee participates in moderated Q&A before “The Interview Show with Mark Bazer,” in Chicago, Ill
Daly spoke earlier in the timezone here:
- Fed’s Daly says workers are worried about inflation
- Fed’s Daly: Need modestly or moderately restrictive policy to keep bringing inflation down
This article was written by Eamonn Sheridan at www.forexlive.com.
U.S. foreign tax bill sends jitters across Wall Street
Trump’s “One Big Beautiful Bill Act,” if enshrined into law, could transform the current trade conflict into a capital war, investment banks say.
Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products
A former Microsoft executive is leading a new team at Amazon within the company’s devices unit.
Musk-Altman AI rivalry is complicating Trump’s dealmaking in Middle East
Elon Musk tried to derail a major AI infrastructure deal in the Middle East, a source confirmed to CNBC
The trade war is rattling global business travel — 4 charts show how
Optimism in the global business travel sector dropped by more than half this year, according to a report published by Global Business Travel Association.
Trump advisor Hassett is confident tariffs will prevail despite judges’ ruling
The comments follow a ruling from judges on the Court of International Trade who said Trump exceeded his authority on tariffs.
WSJ Timiraos: This month is good, but what will the impact of tariffs going forward
Two headwinds that will make things look worse going forward.
A year ago tame PCE MoM data will fall off from the YoY calculation, putting upside pressure on the YoY levels.
- May 2024, 0.0%
- June 2024, 0.1%
- July 2024, 0.2%
- August 2024, 0.1%
- September 2024, 0.2%
- October 2024, 0.2%
3- month average: 0.1% 6-month average: 0.13%
For the core MoM over the next 6-months
- May 2024, 0.1%
- June 2024, 0.2%
- July 2024, 0.2%
- August 2024, 0.1%
- September 2024, 0.3%
- October 2024, 0.3%
3-month average of core PCE: 1.67%6-month average of core PCE: 0.2%
MoM gains of 0.2% or more for headline and core data will mathematically move the YoY up for the headline and the core measures.
This article was written by Greg Michalowski at www.forexlive.com.
Italy May preliminary CPI (HICP) +1.9% vs +1.9% y/y expected
- Prior +2.0%
- CPI (HICP) M/M +0.1% vs +0.0% expected
- Prior +0.4%
The data is in line with expectations and won’t change the ECB plans for the time being.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
ECB’s Panetta: Reduced room to cut rates further, but macro outlook remains weak
- Reduced room to cut rates further, but macro outlook remains weak and trade tensions could worsen it.
- Future rate decisions need to be assessed on case by case basis, weighing data, inflation and growth outlook.
- Essential to maintain pragmatic and flexible approach, closely monitor liquidity conditions.
- Disinflation has not taken too high a toll on the Eurozone economy and is now close to completion.
- Outcome of trade negotiations uncertain but impact on European economy bound to be significant.
- Sectors most exposed to tariffs already showing signs of falling confidence, weaker expectations on orders and employment.
He’s a dove but he’s sounding more neutral here. The ECB is getting close to its estimated neutral rate, so they are now getting even more data-dependent for further rate reductions.
This article was written by Giuseppe Dellamotta at www.forexlive.com.