A Bloomberg index of global debt has dropped 3.5% this year, wiping out all of its gains since Dec. 12, the day before the Fed announcement that month.
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US consumer prices jumped at the start of the year, dashing hopes for a continued drop in inflation and likely delaying any Federal Reserve interest-rate cuts.
Annual revisions to CPI data didn’t change the disinflation narrative for 2023 — with many analysts dismissing it as a “nothingburger” release.
US inflation was about the same at the end of last year as initially reported after incorporating annual revisions, according to new data published Friday.
Four Fed officials suggested Wednesday they don’t see an urgent case for lowering interest rates, adding to a roster of policymakers in recent days who made clear a cut isn’t likely until May at the earliest.
Federal Reserve Bank of Minneapolis President Neel Kashkari said officials would like to see “a few more months” of inflation data before cutting interest rates, adding that he thinks two to three cuts will likely be appropriate for 2024.
Reliable sources of liquidity are at the top of traders’ minds as they brace for another year of turbulence, according to a JPMorgan Chase & Co. electronic trading survey.
After the January jobs report, we changed our base case for an initial Fed rate cut from March to May.
US employers added the most workers in a year and wages jumped in a surprise reacceleration in the labor market that will likely keep the Federal Reserve from cutting interest rates soon.
Initial and recurring applications for US unemployment benefits both rose to a two-month high, suggesting some slowdown in the labor market.