Gold prices edged lower on Tuesday as Treasury yields held firm, while investors digested comments from Federal Reserve Chair Jerome Powell and looked forward to U.S. jobs data due later this week for more signals on U.S. interest rate cuts. The benchmark 10-year Treasury yield hit a one-month high on...

Gold down as elevated bond yields weigh, U.S. jobs data in focus

Reuters

BRASILIA (Reuters) - A director of Brazil's central bank said on Monday that if fiscal policy is always expansionary, it puts a lot of pressure on the floating exchange rate or monetary policy, making disinflation more costly.

Brazil's central bank director says expansionary fiscal policy harms disinflation

New York Post

Federal Reserve Chair Jerome Powell said on Tuesday that he didn’t anticipate inflation returning to its 2% target before the end of next year at the earliest — and would not commit to cutting interest rates this year.

Speaking at an economic policy conference in Portugal, Powell said policymakers need more evidence that inflation is in check before the Fed begins slashing 23-year-high interest rates.

“We just want to understand that the levels that we’re seeing are a true reading on what is actually happening with underlying inflation,” Powell said at the conference sponsored by the European Central Bank. 



“We want to...

Fed doesn’t expect inflation to hit 2% target until 2025, won’t commit to rate cuts

SYDNEY, July 2 (Reuters) - Australia's central bank pondered whether a further rise in interest rates was needed to bring inflation to heel at its June policy meeting, but decided to stand pat in part due to the risk of a sharp slowdown in the labour market.

Australia central bank saw downside risks to employment when holding rates

SINTRA, Portugal (Reuters) -European Central Bank President Christine Lagarde welcomed a small fall in inflation last month as a step in the right direction, even as data on Tuesday showed prices for services continued to rise nearly twice as fast as the headline figure.

ECB's Lagarde welcomes small inflation fall despite stubborn services

Wednesday features a one-two punch of news that starts in the morning with the pivotal consumer price index reading for May, and ends with the Fed's policy meeting in the afternoon. Economists expect CPI to show just a 0.1% increase from April, though that still would equate to an aggregate...

Fed meeting and inflation report both hit Wednesday, and the impact could be huge

Business Insider

These are today's mortgage and refinance rates. The latest inflation data suggests that we could get a Fed cut soon, which is good news for mortgage rates.

Mortgage Interest Rate Today, June 30, 2024 | Rates Should Trend Down Further This Year

The Associated Press

WASHINGTON (AP) — Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates. After some persistently high inflation reports at the start...

Fed Chair Jerome Powell: US inflation is cooling again, though it isn’t yet time to cut rates

Markets Insider

US stocks slumped on Wednesday, with major averages down as bond yields rose as Nvidia shares wavered and investors eyed fresh economic data. Nvidia shares slid as much as 1.2% in early-morning trading before paring losses, trading about 0.25% higher shortly after the opening bell. The chipmaker lost over $400...

Stock market news: US stocks slide and bond yields rise as traders eye new economic data

Chris Meekins, Raymond James health care policy analyst, joins 'Fast Money' to talk drug pricing and the impact it could have on the 2024 election.

Raymond James' Chris Meekins talks drug pricing and the upcoming election

Is it over for SHIB? Epic one trillion Shiba Inu transfer hits Binance amid chaos on crypto market. The relentless crypto market sell-off that has been going on for the past eight days seems to have reached an end today. At the moment, when the amount of negative news reached the maximum, and the mood of market participants would not be enough to call fear, the sales stopped for a while, and the long-awaited rebound followed.

1 Trillion Shiba Inu (SHIB) Transfer Stuns World's Largest Exchange

Bigger individual retirement account balances can cause tax issues for retirees or their children who inherit the assets, experts say. The median IRA or self-employed Keogh balance was $87,000 in 2022, up from $81,144 in 2019, according to an Employee Benefit Research Institute report. As pretax balances grow, retirees can...

Individual retirement account balances are growing — why that can be a 'tax nightmare,' advisor says

Götene, about 200 miles from Stockholm, is selling plots of land starting at 1 krona per square meter or nine US cents per 10 square feet. Buyers must build a home on the land with plans to either live there permanently or use it as a vacation property, according to CNN.

This scenic town in Sweden is selling cheap land to get people to move there: 'We can bring you a high quality of life,' mayor says

It seems investors will have to wait longer as the Fed is not confident about cutting interest rates, even though inflation is cooling off. Federal Reserve Chair Jerome Powell stated on Tuesday that the central bank needs more data before cutting interest rates to make sure recent weak inflation readings accurately reflect underlying price pressures.

The Fed needs to see inflation fall more before cutting interest rates, Jerome Powell says

Swimply CEO Derek Callow joins 'The Exchange' to discuss how the company is expanding its recreational offerings beyond the swimming pool, how his company is handling the pushback against their business, and more.

Swimply CEO on expanding their recreational offerings

USDA loans allow eligible homebuyers to get zero-down-payment mortgages in rural areas. Because they're backed by the U.S. Department of Agriculture, these loans have lower rates and more flexible credit requirements than conventional mortgages. They also don't require private mortgage insurance, which can add more than 2% to your loan annually.

What is a USDA loan and am I eligible?

Stocks rose Tuesday, with the S&P 500 closing at an all-time high above 5,500. Dovish comments from Fed Chairman Jerome Powell helped propel stocks higher. Meanwhile, Tesla jumped 10% after beating estimates for second-quarter deliveries. US stocks jumped Tuesday on encouraging remarks from Federal Reserve Chairman Jerome Powell, which sent...

Stock market today: Stocks close at records as Powell strikes dovish tone and Tesla shares spike

NEW YORK (Reuters) - A measure of the borrowing costs on loans between banks and other participants in the U.S. repurchase agreement (repo) market hit its highest level since January on Monday, New York Federal Reserve data released on Tuesday showed.

US overnight funding rate hits highest since January

The dollar slipped on Tuesday in choppy trading after Federal Chair Jerome Powell struck a slightly dovish tone in his comments, suggesting that the U.S. central bank is more than likely to start its easing cycle later this year. Powell, in a monetary policy conference in Portugal, said the U.S....

U.S. dollar dips as Fed's Powell's dovish comments offset upbeat jobs data

Cash savings are getting the best guaranteed returns in years. Yet stocks are also climbing to all-time highs. Holding too much cash can preclude you from benefitting from those gains, experts say. It wasn't long ago that investors earned practically 0% returns on cash. As the Federal Reserve has kept...

Is holding too much cash a mistake? Here's why that may lead to regrets, experts say

NewsBreak

Bank of Japan is expected to trim bond buying by $100 billion in first year, Reuters survey shows

Japan bond market participants expect the central bank to trim bond purchases by roughly $100 billion in the first year under a quantitative tightening (QT) plan...

Bank of Japan is expected to trim bond buying by $100 billion in first year, Reuters survey shows

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