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Risk of a global recession is minimal, IMF economist says — would take 'a lot to derail'
One of the International Monetary Fund's top economists signals little risk of a global recession, despite the ongoing rumblings of geopolitical uncertainty. The Washington DC-based institute this week nudged its global growth outlook slightly higher to 3.2% in 2024 and projects the same rate in 202
High company valuations a 'worry,' IMF's capital markets chief says
High corporate valuations could pose a significant risk to financial stability as market optimism becomes untethered from fundamentals, the IMF's director of the Monetary and Capital Markets Department said Tuesday. Financial markets have been on a tear for much of this year, buoyed by falling infla
UK inflation eases less than expected to 3.2% in March
Inflation in the U.K. eased to 3.2% in March, the Office for National Statistics said on Wednesday. That was slightly higher than the forecast from economists polled by Reuters of 3.1%, but was down from 3.4% in February. Food prices provided the biggest downward drag on the headline rate, the ONS s
IMF upgrades global growth forecast as economy proves 'surprisingly resilient' despite downside risks
The International Monetary Fund on Tuesday slightly raised its global growth forecast, saying the economy had proven "surprisingly resilient" despite inflationary pressures and monetary policy shifts. The IMF now expects global growth of 3.2% in 2024, up by a modest 0.1 percentage point from its ear
U.S. economy will see 'more things break' in 2025 if rates stay high, strategist says
The U.S. economy could be headed for stormy waters in 2025 if the Federal Reserve does not take action soon on interest rates, State Street's head of investment strategy in EMEA said Tuesday. Altaf Kassam told CNBC that classic monetary policy mechanisms had "broken," meaning that any changes made b
Retail sales jumped 0.7% in March, much higher than expected
Rising inflation in March didn't deter consumers, who continued shopping at a more rapid pace than anticipated, the Commerce Department reported Monday. Retail sales increased 0.7% for the month, considerably faster than the Dow Jones consensus forecast for a 0.3% increase, according to Census Burea
Surging inflation fears sent markets tumbling and Fed officials scrambling
The early data is in for the path of inflation during the first three months of 2024, and the news so far is, well, not good. Pick your poison. Whether it's prices at the register or wholesale input costs, while inflation is off the blistering pace of 2022, it doesn't appear to be going away anytime
Beyoncé bounce: Western boot sales jump more than 20% week over week since 'Cowboy Carter' launch
Western boots have a new protector in Beyoncé. The country fashion staple's sales surged more than 20% in the week after the music superstar released her "Cowboy Carter" album, according to consumer behavior firm Circana. That can spell good news for companies making the iconic shoe, as well as othe
BlackRock's Larry Fink sees Fed cutting rates twice this year but missing 2% inflation goal
BlackRock CEO Larry Fink predicted Friday that the Federal Reserve likely will still cut interest rates this year but won't meet its inflation target. With markets on edge over the direction of monetary policy, the head of the world's largest money manager said it's unlikely the central bank will hi
Jamie Dimon warns that inflation, wars and Fed policy pose major threats ahead
JPMorgan Chase CEO Jamie Dimon warned Friday that multiple challenges, primarily inflation and war, threaten an otherwise positive economic backdrop. "Many economic indicators continue to be favorable," the head of the the largest U.S. bank by assets said in announcing first-quarter earnings results
UK economy posts 0.1% growth in February in further sign of recession rebound
LONDON — U.K. gross domestic product rose 0.1% in February, the Office for National Statistics said on Friday, providing another sign of a return to sluggish economic growth this year. The month-on-month figure was in line with a projection in a Reuters poll. On an annual basis, GDP was 0.2% lower.
European Central Bank gives strong signal that cuts are on the way despite Fed uncertainty
The European Central Bank on Thursday held interest rates steady for a fifth straight meeting and gave its clearest signal yet of an upcoming rate cut, despite uncertainty over the U.S. Federal Reserve's next moves. "If the Governing Council's updated assessment of the inflation outlook, the dynamic
Wholesale prices rose 0.2% in March, less than expected
A measure of wholesale prices increased less than expected in March, providing some potential relief from worries that inflation will hold higher for longer than many economists had expected. The producer price index rose 0.2% for the month, less than the 0.3% estimate from the Dow Jones consensus a
Hot inflation data pushes market’s rate cut expectations to September
As recently as January, investors had high hopes that the Federal Reserve was about to embark on a rate-cutting campaign that would reverse some of the most aggressive policy tightening in decades. Three months of inflation data have brought those expectations back down to earth. March's consumer pr
Consumer prices rose 3.5% from a year ago in March, more than expected
The consumer price index accelerated at a faster-than-expected pace in March, pushing inflation higher and likely dashing hopes that the Federal Reserve will be able to cut interest rates anytime soon. The CPI, a broad measure of goods and services costs across the economy, rose 0.4% for the month,
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