Economy

The American job market persists in its strength, with employment expanding consistently, despite cuts in government expenditure. Current reports indicate that, although there are worries over how federal budget reductions might influence the economy, there has been no substantial decrease in hiring activity. While uncertainties remain regarding the long-term implications of these financial changes, the workforce is demonstrating both resilience and consistency in the near term.This month's employment data shows steady job growth in multiple industries, indicating that the economy is enduring the early impacts of decreased government spending. Experts had expected that the budget cuts could significantly affect the job sector, potentially causing a chain reaction that might hinder private ...

In Union County, South Carolina, the cotton mills that once supplied many jobs have vanished. Now, the county is labeled as a "food desert," indicating residents are often distant from grocery stores. Acknowledging this challenge, local non-profit leader Elise Ashby initiated a project in 2016, working with farmers to deliver affordable boxes of fresh fruits and vegetables across the area, where around 30% of the population is Black, and about 25% face poverty.Ms. Ashby originally financed the project using her own savings and minor grants. In 2023, her work saw a substantial advancement when the Walmart Foundation—the charitable arm of a leading national corporation—awarded her organization a grant exceeding $100,000 (£80,000). This financial support was included in a larger $1.5 million ...

La Reserva Federal comunicó su resolución de conservar la tasa de fondos federales dentro del rango objetivo del 4.25% al 4.50%. Esta determinación se produce en medio de continuas evaluaciones de indicadores económicos y factores externos que afectan la economía de EE. UU.Condiciones del Mercado Laboral e Indicadores EconómicosEconomic Indicators and Labor Market ConditionsMandato Dual de la Reserva Federal y Objetivos de PolíticaLa Reserva Federal funciona con un mandato dual: alcanzar el máximo empleo y mantener la inflación en una tasa objetivo del 2% a largo plazo. El Comité Federal de Mercado Abierto (FOMC) considera que los riesgos para lograr estos objetivos están más o menos equilibrados. Debido a la incertidumbre del panorama económico actual, el Comité se mantiene alerta ante lo...

Related media - Breaking news President-elect Donald Trump ramped up his rhetoric on trade on Friday, warning the European Union that it must significantly reduce its trade deficit with the United States by buying more American oil and gas or face tariffs. “I told the European Union that it must make up for its huge deficit with the United States by buying our oil and gas on a large scale. Otherwise, it will just be tariffs,” Trump posted on his Truth Social platform shortly after 1 pm ET. The trade deficit between the United States and the EU in goods and services amounted to 131.3 billion dollars in 2022, according to U.S. government data. While Trump's remarks were consistent with his protectionist approach to trade policy, they drew immediate reactions from EU offici...

More news - Breaking news On October 3, 2024, the Federal Reserve building in Washington was the backdrop for the latest developments in US economic indicators. This report is part of CNBC's Daily Open, designed to inform investors around the world about major market updates. To stay informed you can sign up for the newsletter. Highlights American inflation trend upwardsIn October, the overall inflation rate in the United States reached 2.6%, in line with market expectations. Core inflation, which excludes food and energy price volatility, remained stable at 3.3%. This overall figure exceeds the Federal Reserve's target, potentially complicating its monetary policy easing plans. Mixed market responses following inflation dataFollowing the inflation report, US markets...

Related media - News 24 hours Former Federal Reserve policymaker Loretta Mester has indicated that the US Federal Reserve may implement fewer interest rate cuts than previously expected next year, particularly if President-elect Donald Trump's proposed global tariffs are implemented. Speaking at UBS's annual European conference in London, Mester stressed that the Fed's monetary policy will be significantly influenced by the fiscal strategies of a future Republican administration. Mester noted that the market's revised expectations for interest rate cuts may actually be correct, suggesting that the number of cuts may be fewer than the four previously expected. “Next year, the pace of cuts will be influenced by the direction of fiscal policy,” he explained, underlining the pot...

Related media - Latest news The Commerzbank logo is prominently displayed at a branch near the iconic Commerzbank Tower in Frankfurt, Germany. As the dust settles two months after UniCredit's initial overtures to German lender Commerzbank, the banking sector's resilience is being tested in one of Europe's most significant potential mergers. Recent third-quarter earnings reports from both institutions reveal contrasting financial trajectories and strategic outlooks. UniCredit announced an 8% increase in its net profit, reaching 2.5 billion euros ($2.25 billion), beating analysts' expectations of 2.27 billion euros. This strong performance has prompted the Italian bank to revise upward its full-year profit outlook, which now calls for more than 9 billion euros, up from a previ...