Cleveland Fed President Mester discussed the current state of the economy in a question and answer session. She acknowledged that there is some slowing in the economy, but it is rebalancing. Despite signs of economic strength, disinflation can still occur. She also expressed her belief that the neutral rate will not be as low as it was previously. Mester anticipates slower employment growth and a slight uptick in the unemployment rate, although healthy labor markets are expected to remain intact.
She highlighted the efforts of the Fed in ensuring that banks are prepared for the discount window. Additionally, she stated that commercial real estate risks for banks are manageable. In terms of inflation, Mester acknowledged that the average family is still struggling with inflation, which could explain the sour consumer mood.
In terms of financial markets, US stocks were trading lower but had recovered from their lowest levels. The S&P index was down by 51.17 points or 0.98% at 5192.39, while the Dow Industrial Average was down by 463 points or 1.17% at 39103.40. The NASDAQ index had also dropped by 214 points to 16182.
US yields were mixed and had retreated from their highest levels
In the 1A baseball regional, Ridgefield’s Deven Savella and Colton Warren both had solid performances…
Marvin Harrison Jr. has chosen to forge his own path in the pre-draft process by…
Ms. Amghe, the world’s shortest woman, stands only 62.8 centimeters tall. Recently, she met The…
The "Magnificent Seven" companies - Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla - are…
In recent years, several notable developments have taken place in Missouri. First, the International Partners…
The Trump family is known for their opulent lifestyle and extravagant spending habits. According to…