By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending increased moderately in May and prices rose slightly, pointing to slowing economic growth and benign inflation pressures, which could give the Federal Reserve ammunition to cut interest rates next month. The report from the Commerce Department on Friday came just a week after the Fed signalled it could ease monetary policy as early as July, citing low inflation as well as growing risks to the economy from an escalation in trade tensions between the United States and China. Inflation has undershot the U.S. central bank’s 2 percent target this year. “Below-target inflation is a concern for the Fed, but not the primary reason they are leaning towards cutting interest rates,” said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester, Pennsylvania. “The Fed has an easing bias because of growth concerns, and low inflation has only helped lower the bar for even further rate … [Read more...] about Moderate U.S. consumer spending, inflation support rate cut
It support rates
Published March 11, 2019 The Fed Reuters Facebook Twitter Comments Print video Powell says he's in no hurry to raise interest rates: Varney FBN's Stuart Varney on Federal Reserve Chairman Jerome Powell's interview on CBS' '60 Minutes.' NEW YORK, March 11 (Reuters) - U.S. consumers expect prices to rise more slowly, according to the Federal Reserve Bank of New York, a decline in inflation expectations in February that likely reinforces policymakers' reluctance to hike rates. Continue Reading Below The survey of consumer expectations, published on Monday, is one of the Fed's price gauges as it weighs the need for rate rises. It showed one- and three-year ahead inflation expectations were down 0.2 percentage points to 2.8 percent last month, with sharp declines in expected medical care expenses. Both the one- and three-year gauges had been roughly unchanged since April 2018. MORE FROM FOXBUSINESS.COM BOEING SHARES FALL AFTER SECOND DEADLY 737 … [Read more...] about US inflation forecasts decline, supporting rate-hike holiday
Following more than two weeks of backlash over its labor practices, Trillium Brewing Co. has changed its compensation structure for retail employees and increased their wages to between $15 and $18 an hour. On Wednesday, Trillium co-founders JC and Esther Tetreault released a blog post detailing the actions the brewery has taken since an anonymous user posted to a Beer Advocate forum and said the brewery had lowered its hourly rate for retail staff from $8 to $5 an hour. (Trillium responded by reinstating the affected employees’ wages.) Now, the brewery is further increasing its hourly compensation for retail employees at the Canton and Fort Point locations, according to the blog post: “We are raising the hourly rate our retail employees are paid to between $15 and $18 an hour, based on tenure and knowledge of our craft. Those who currently work for us will move to a minimum of between $16.00 and $17.50 per hour, based on tenure. Our employees already felt well … [Read more...] about Trillium Brewing Co. raises its hourly rate for all retail employees after community backlash
Sections SEARCH Skip to content Skip to site index New York Subscribe Log In Log In Today’s Paper New York | Some New Yorkers Hate the Amazon Deal. Can They Stop It? Supported by The deal reached between Gov. Andrew M. Cuomo, Mayor Bill de Blasio and Amazon was constructed to blunt the veto power of local politicians. ByJ. David Goodman Nov. 15, 2018 The deal to bring Amazon to Long Island City, at a cost of more than $2 billion in government incentives, has sparked outrage in many corners of New York City, particularly in Queens, where residents and elected officials have vowed resistance. The anger is real: More than 100 people gathered Wednesday at a protest near the proposed site of Amazon’s new offices, where the company has promised to employ more than 25,000 people in exchange for tax credits, direct state grants and city tax incentives. “Stay the Helipad Out,” one sign read, a … [Read more...] about Some New Yorkers Hate the Amazon Deal. Can They Stop It?
This feature is part of The Local's Sweden in Focus series, taking an in-depth look at the issues that make this country tick. Click here to read more articles. Forming a government is typically a speedy process in Sweden, particularly compared to its European neighbours. A system of negative parliamentarism means proposed governments do not, technically, need a single vote in favour – all that is required for their survival is for a majority of MPs not to vote against them. On Wednesday, parliament will vote on a government led by centre-right leader Ulf Kristersson. Unless any of Sweden's parties have a major change of heart at the last second, he will become the first PM candidate to lose such a vote. "In a way, what's really surprising is the amount of time that's passed since the election and the fact that the parties are still in the same locked positions as they were before," Johan Hellström, a senior politics lecturer at Umeå University, tells The Local. … [Read more...] about Sweden in Focus: How did the political situation get to where it is today?