The U.S. Federal Reserve Building in Washington, D.C. Win Mcnamee | Reuters Today, the Federal Reserve will publish its latest economic forecasts. There will be an intense focus on the Summary of Economic Projections, which is the Fed’s own estimates for GDP growth, the unemployment rate, inflation and the appropriate policy interest rate. The summary will
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Pinterest app on a mobile phone. Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines before the bell. Dollar General — Dollar General shares fell 2% after JPMorgan downgraded the discounter to underweight from a neutral as the company’s core shopper grapples with persistent inflationary pressures and dwindling savings. Pinterest —
A couple building a high-end contemporary house close to the Potomac River near Washington, D.C., had distinct ideas about what it should be. One person favored a Moroccan courtyard-style design; the other wanted a sustainable and well-built home. It would be up to the architects to make it work—and they did, spectacularly. Sliding mesh screens
A for sale sign in front of a home in Arlington, Virginia, on August 22, 2023. Andrew Caballero-Reynolds | AFP | Getty Images Mortgage rates rose again last week, and so did demand for refinances, which at face value doesn’t make a lot of sense. Applications to refinance a home loan jumped 13% last week
Municipals were weaker Tuesday as triple-A yields rose in sympathy with U.S. Treasuries. Equities ended the session down ahead of the close of the Federal Open Markets Committee meeting Wednesday. Triple-A yields were cut two to seven basis points, depending on the scale, while UST yields rose four to six basis points, pushing the two-,
Receive free UK politics updates We’ll send you a myFT Daily Digest email rounding up the latest UK politics news every morning. Rishi Sunak was on Tuesday accused of presiding over a “slow motion car crash” as the prime minister prepared to delay crucial measures intended to turn the UK into a net zero carbon
AI and crypto isn’t just a buzz phrase AI Eye has been out and about at Korean Blockchain Week and Token2049 in Singapore over the past fortnight, trying to find out how crypto project leaders plan to use AI. Probably the most well-known is Maker founder Rune Christensen, who essentially plans to relaunch his decade-old
California’s revenues for August came in $1.3 billion above projections putting the state $75 million above the $21.9 billion expected for the first two months of the fiscal year, according to the Department of Finance. The revenues of $1.3 billion were 11.1% above the forecast of $12.16 billion, as receipts from nearly all revenue sources
The Carnival Miracle cruise ship operated by Carnival Cruise Line is docked at Pier 27 in San Francisco, Sept. 30, 2022. Justin Sullivan | Getty Images Check out the companies making headlines before the bell: Carnival, Royal Caribbean— The cruise lines both gained about 2% after being upgraded by Truist. The Wall Street firm moved
Our weekly roundup of news from East Asia curates the industry’s most important developments. Token 2049, one of the largest crypto conferences of the year, attracted a record 10,000 attendees, 300 speakers and 5,000 companies during the two-day event in Singapore. From Sept. 13–14, attendees entering the majestic Marina Bay Sands Convention Expo and Center
JLL released its Construction Trends and Mid-Year Outlook several days ago, updating its 2023 Construction Outlook published in March. The new report, with its updated set of projections, highlights several hurdles the industry faces during a time of enormous economic uncertainty. Specifically, the report examines general construction industry health, along with the state of the
Artistgndphotography | E+ | Getty Images The Federal Reserve is likely to pause its aggressive interest rate hikes when it meets this week, experts predict. But consumers may not feel any relief. The central bank has already raised interest rates 11 times since last year — the fastest pace of tightening since the early 1980s. Yet recent
Georgia Gov. Brian Kemp has suspended his state’s gasoline tax for one month as prices at the pump continue to increase. Kemp cited high fuel costs and persistent inflation when he declared a legal state of emergency last week and signed an executive order suspending Georgia’s 31.2 cents-per-gallon tax on gas and 35-cents-per-gallon tax on
Receive free UK financial regulation updates We’ll send you a myFT Daily Digest email rounding up the latest UK financial regulation news every morning. A review by the chief UK financial regulator has uncovered no evidence that politicians are being denied bank accounts because of their views, according to people briefed on the findings. The
Cryptocurrencies like Bitcoin (BTC) have been widely described as going through a bear market in 2023, but this may not exactly be the case, according to indicators such as the website traffic of certain crypto platforms. Some major cryptocurrency websites, such as Binance and Coinbase, have seen a significant traffic drop in 2023, but there
Cryptocurrency users frequently fall prey to online hacks with Mark Cuban being just the latest high-profile example how nearly a million dollars can leave your digital wallet. It is possible to substantially bolster the security of your funds by heeding three simple guidelines that will be outlined in this article. But before delving into these, it’s
It’s a foregone conclusion the Federal Open Market Committee won’t raise the fed funds target rate at its Sept. 19-20 meeting, so the market will concentrate on the updated Summary of Economic Projections and Chair Jerome Powell’s press conference. “The Fed will try to deliver a hawkish hold on September 20, also driving home the
Ray Dalio speaks during the 2023 Forbes Iconoclast Summit at Pier 60 on June 12, 2023 in New York City. Taylor Hill | GGetty Images U.S. billionaire Ray Dalio says new investors should have a diversified portfolio as economic and geopolitical headwinds persist. “I would like to have diversification, because what I don’t know is
A DoorDash Inc. delivery bag sits on the floor at Chef Geoff’s restaurant in Washington, D.C. Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines in premarket trading. PayPal – Shares of the payments giant fell more than 1% premarket after MoffettNathanson downgraded the stock to market perform from outperform and
The crypto industry is far too focused on token prices, rather than figuring out how smart contracts can be used to solve real-world business problems, according to Google Cloud’s Web3 lead. In an interview with Cointelegraph, Google Cloud’s Head of Web3 James Tromans stressed the need to focus more on the business logic in the