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...More US credit card accounts were past due on their payments to the largest banks at the end of 2023 than at any time since 2012, according to data from the Federal Reserve Bank of Philadelphia....
...The Federal Reserve has signalled that US borrowing costs are likely to remain higher for longer, as it wrestles with persistent inflation across the world’s biggest economy....
...The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music. Read a transcript of this episode on FT.com...
...US stocks held steady as investors brace for signals from Federal Reserve chair Jay Powell on the outlook for interest rates....
...Asian equities were muted after US stocks finished their worst month since September, ahead of today’s Federal Reserve interest rate announcement in the US....
...Federal Reserve chair Jay Powell has said he still expects inflation to fall towards the US central bank’s 2 per cent goal, as new data highlighted the bumpy road ahead for officials as they debate when...
...Traders dialled back their bets on imminent Federal Reserve rate cuts after data showed US employers added 303,000 jobs in March, in a further sign of a buoyant labour market and a boost to President Joe...
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...Jay Powell said the Federal Reserve’s job of bringing down inflation was “not yet done” and the US central bank needed “greater confidence” that price pressures were easing before cutting interest rates,...
...US central bank....
...US inflation unexpectedly increased to 3.2 per cent last month, highlighting the challenge faced by the Federal Reserve in the “last mile” of its fight against rising prices....
...Plus, price rises in services in the US are making the Federal Reserve’s decision-making over interest rates more complicated....
...The Federal Reserve has signalled that disappointing inflation readings are likely to mean US borrowing costs remain higher for longer, as it held interest rates at a 23-year high and unveiled plans to slow...
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...European stocks slipped in early trading after Federal Reserve chair Jay Powell said on Wednesday that US interest rates would remain higher. A further rate hike was unlikely, he added....
...Analysts have upgraded their forecasts for the US economy this year, bolstering hopes of a soft landing and bets that the Federal Reserve will delay interest rate cuts until the summer....
...The market’s stubborn hopes of a first cut to US interest rates in March were finally crushed over the past week by strong economic data and firm messaging from Jay Powell, chair of the Federal Reserve....
...The Federal Reserve is “not far” from having the confidence to start cutting interest rates, its chair Jay Powell has said, bolstering hopes that the central bank will lower borrowing costs in the coming...
...President Joe Biden was hoping for a lift from the Federal Reserve this year. On Wednesday, the Fed dealt those hopes a blow....
...US Federal Reserve chair Jay Powell has said it is likely to take “longer than expected” for inflation to return to the central bank’s 2 per cent target and justify cuts to interest rates....
...The Federal Reserve is not expected to lower US rates until at least September. Contracts tracking Wall Street’s S&P 500 and the tech-heavy Nasdaq 100 slipped ahead of the New York open....
...Federal Reserve officials remained “highly attentive” to inflation risks and wary of cutting interest rates too quickly, according to the minutes of its January meeting, pouring more cold water on market...
...Jay Powell moved to cool speculation that the Federal Reserve would begin cutting interest rates as soon as March, saying that was not the “base case” as the US central bank considers easing monetary policy...
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