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The Bank of England’s committee decided to keep their main interest rate (Bank Rate) at 4%, which is what most people expected. However, the vote was close (5 members for keeping it, 4 members wanted to cut it by a small amount), showing that more people on the committee are leaning towards lowering rates. For […]

The post BoE Hold Rates Steady in Close 5-4 Vote Split, GBP/USD Continues Rally appeared first on Action Forex.

In separate releases Thursday, ESPN said it was terminating its agreement with Penn years earlier than planned and had signed an agreement with DraftKings.

Avian flu virus decimated turkey flocks in the United States to their lowest level in 40 years before the 2025 holiday season.

Canadian cybersecurity startup 1Password has surpassed $400 million in annual recurring revenue.

Food stamps were cut this week and it looks like air travel is next. Sources cited by Reuters say the Federal Aviation Administration is working to hammer out details of flight cuts that will start tomorrow.

That’s going to make a different subset of voters angry and might even get politicians to start working together.

This article was written by Adam Button at investinglive.com.

Food stamps were cut this week and it looks like air travel is next. Sources cited by Reuters say the Federal Aviation Administration is working to hammer out details of flight cuts that will start tomorrow.

That’s going to make a different subset of voters angry and might even get politicians to start working together.

This article was written by Adam Button at investinglive.com.

President of the Federal Reserve (Fed) Bank of Chicago, Austan Goolsbee, stated in an interview with CNBC on Thursday that the unemployment rate remains essentially unchanged and that he cannot rely on inflation being transitory.

• Most of labour market indicators show stability in market
• We should be careful taking payroll job number drop as an indicator of job market (unemployment rate is a better indicator now)
• Mild cooling in labour market
• The unemployment rate is basically unchanged
• There’s a little downside risk to the labor market
• There’s a lot of stability
• Recession starts are not usually low hiring and low firing
• Low hiring and low firing is character of an uncertain environment
• There’s very little private sector information about inflation, it will be some time before we see any problems
• We can’t count on inflation being transitory
• Consumer spending and growth is strong
• I am more uneasy about rate cuts without inflation data
• For data to go dark right at the moment we saw services inflation rising is uncomfortable
• Not hawkish on rates
• The settling point for rates will be a fair bit below where it is today
• I lean more to “when it’s foggy lets be careful and slow down”
• Lack of inflation data accentuates caution on rate cuts

Goolsbee has been leaning more on the hawkish side for months despite supporting a couple of rate cuts due to the weakness in labour market data (when we had it).

Goolsbee is a voter this year and he’s clearly saying here that if we don’t get the CPI data before the next FOMC meeting, he won’t support another rate cut.

This article was written by Giuseppe Dellamotta at investinglive.com.

• Most of labour market indicators show stability in market
• We should be careful taking payroll job number drop as an indicator of job market (unemployment rate is a better indicator now)
• Mild cooling in labour market
• The unemployment rate is basically unchanged
• There’s a little downside risk to the labor market
• There’s a lot of stability
• Recession starts are not usually low hiring and low firing
• Low hiring and low firing is character of an uncertain environment
• There’s very little private sector information about inflation, it will be some time before we see any problems
• We can’t count on inflation being transitory
• Consumer spending and growth is strong
• I am more uneasy about rate cuts without inflation data
• For data to go dark right at the moment we saw services inflation rising is uncomfortable
• Not hawkish on rates
• The settling point for rates will be a fair bit below where it is today
• I lean more to “when it’s foggy lets be careful and slow down”
• Lack of inflation data accentuates caution on rate cuts

Goolsbee has been leaning more on the hawkish side for months despite supporting a couple of rate cuts due to the weakness in labour market data (when we had it).

Goolsbee is a voter this year and he’s clearly saying here that if we don’t get the CPI data before the next FOMC meeting, he won’t support another rate cut.

This article was written by Giuseppe Dellamotta at investinglive.com.