Browsing: Talous
Jamie Dimon, Chairman and Chief Executive Officer (CEO) of JPMorgan Chase & Co. (JPM), delivered a speech at the Economic Club of New York in Manhattan, New York City, USA on April 23, 2024. Fresh Mike | ReutersJPMorgan Chase Chief Executive Jamie Dimon said on Tuesday that he would not rule out stagflation, despite growing confidence recently that inflation is moving away from highs.”I would say the worst outcome is stagflation – a recession, rising inflation,” Dimon said at the fall meeting of the Council of Institutional Investors in Brooklyn, New York. “I’m not taking that off the table, by…
People shop at a store in Brooklyn, New York City, on August 14, 2024. Spencer Pratt | Getty ImagesThe Fed will take a final look at inflation data this week before confirming soon the size of its widely expected rate cuts.On Wednesday, the U.S. Department of Labor’s Bureau of Labor Statistics will release its August consumer price index report. A day later, the Bureau of Labor Statistics released its report on the Producer Price Index, also for August, which is used as a proxy for wholesale-level costs.With the question of whether the Fed will cut interest rates at the end…
People shop at a store in Brooklyn, New York City, on August 14, 2024. Spencer Pratt | Getty ImagesThe Fed will take a final look at inflation data this week before confirming soon the size of its widely expected rate cuts.On Wednesday, the U.S. Department of Labor’s Bureau of Labor Statistics will release its August consumer price index report. A day later, the Bureau of Labor Statistics released its report on the Producer Price Index, also for August, which is used as a proxy for wholesale-level costs.With the question of whether the Fed will cut interest rates at the end…
Mare Magnum | Corbis Documentaries | Getty ImagesLONDON – The UK economy continued to be flat in July from the previous month, preliminary data from the Office for National Statistics showed on Wednesday.Gross domestic product (GDP) was below expectations of economists polled by Reuters, who forecast growth of 0.2%.The country’s GDP did not grow in June either.As of July, the UK-led services sector grew slightly by 0.1%, while production and construction output fell by 0.8% and 0.4% respectively.The UK economy grew 0.5% in the three months to July, slightly below economists’ expectations and 0.6% in the second quarter to June.Liz…
DUBAI, United Arab Emirates – Dubai’s real estate market shows no signs of cooling down as sales figures and property values are expected to reach another record high in 2024, according to local real estate companies.Rising demand for real estate, especially luxury properties, is driving up the price of not just homes but everything else in the city – as the United Arab Emirates is expected to become the world’s biggest magnet for wealth for the third year in a row Same.This is both good news and bad news for Hussain Sajwani, chairman of Dubai-based real estate giant Damac.”What worries…
DUBAI, United Arab Emirates – Dubai’s real estate market shows no signs of cooling down as sales figures and property values are expected to reach another record high in 2024, according to local real estate companies.Rising demand for real estate, especially luxury properties, is driving up the price of not just homes but everything else in the city – as the United Arab Emirates is expected to become the world’s biggest magnet for wealth for the third year in a row Same.This is both good news and bad news for Hussain Sajwani, chairman of Dubai-based real estate giant Damac.”What worries…
A report released by the Labor Department on Wednesday showed that inflation fell to the lowest level since February 2021 in August. The report also showed that a key indicator was higher than expected, laying the foundation for the Federal Reserve to expect a 25 percentage point interest rate cut.The U.S. Bureau of Labor Statistics reported that the Consumer Price Index, a broad measure of the cost of goods and services across the U.S. economy, rose 0.2% for the month, in line with the Dow Jones consensus.That left the 12-month inflation rate at 2.5%, down 0.4 percentage points from July’s…
Miami Beach, Florida, Sasson Cafe, Cuban flag, elderly people at the table. Jeff Greenberg | Universal Image Group | Getty ImagesA new report released Thursday by the economic think tank Latino Donor Partnership and Wells Fargo shows that the U.S. Latino economy will grow by 13%, from $3.2 trillion in 2021 to $3.6 trillion in 2022.That would make the group the world’s fifth-largest economy – larger than the annual output of India, the UK, France and Canada.Saul Trujillo, president of the Latino Donor Partnership, said in the report: “There is no doubt that the Latino economy in the United States…
Wholesale prices rose in line with expectations in August, the final inflation data point as the Fed prepares to cut interest rates.The U.S. Bureau of Labor Statistics said Thursday that the producer price index, a measure of the cost received by producers of final demand goods and services, rose 0.2% this month. This was in line with the Dow Jones consensus forecast.Excluding food and energy, PPI rose 0.3%, slightly higher than the market consensus of 0.2%. Excluding trade services, core growth was the same.The overall 12-month PPI rose 1.7%. Excluding food, energy and trade, the annual growth rate was 3.3%.In…
Bronze seal next to the door of the U.S. Treasury Building in Washington, U.S., January 20, 2023. Kevin Lamarque | ReutersThe U.S. Treasury Department reported on Thursday that the U.S. government’s interest payments on its $35.3 trillion Treasury debt exceeded $1 trillion for the first time this year.As the Federal Reserve maintains its benchmark interest rate at the highest level in 23 years, the government has allocated US$1.049 trillion in debt service funds, a 30% increase from the same period last year and part of the US$1.158 trillion expected full-year repayment.Excluding interest earned on government investments, net interest payments totaled…