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July 9, 2019 The Week: On Monday, the Federal Reserve announced that it was cutting interest rates for the first time since the financial crisis. The cut was seen as a response to the economic slowdown that has been seen in the U.S. and around the world. The Fed also indicated that it may cut rates further if needed. The news sent stocks soaring, and the U.S. dollar fell sharply against other major currencies. On Tuesday, the Federal Reserve released its quarterly economic report, which showed that the U.S. economy is slowing. The report showed that consumer spending, business investment, and exports were all weaker than expected. The report also showed that inflation has been running below the Fed's 2% target. On Wednesday, the Federal Reserve released the minutes from its June meeting, which showed that officials were split on the decision to cut interest rates. Some officials argued for a larger cut, while others felt that a smaller cut was sufficient. The minutes also showed that the Fed was divided on what to do next, with some arguing for further rate cuts, while others were hesitant to do so. On Thursday, the Labor Department released its monthly jobs report, which showed that the U.S.
Trump Files To Cancel Approval Of Maryland Offshore Wind Farm
The Trump administration asked a federal court to cancel the approval of a $6 billion wind project planned off the coast of Maryland as part of a wider effort to halt the development of the offshore clean- energy resource. The US Department of the Interior’s Bureau of Ocean Energy Management is seeking to void a permit granted to the Maryland Offshore Wind Project, according to a court filing dated Friday.
Flashpoints, Fed Bets, And A Thaw: Talking Point This Week
The Russian drone violation of Polish airspace as well as Israel's targeted attack on Hamas leadership in Doha took centerstage in geopolitical news. It almost seems that the world digests these news with ease. But yes, on Sept. 11, Poland invoked NATO’s Article 4 after the drone invasion, escalating tensions and prompting consultations among NATO allies.
IMF says US economy showing strains; tariffs pose some risks to inflation - BusinessWorld Online
WASHINGTON – The US economy is showing some strains after years of resilience, with domestic demand moderating and job growth slowing, the International Monetary Fund said on Thursday. IMF spokesperson Julie Kozack said inflation was on a path to meet the Federal Reserve’s 2% target, but there were some risks that could push it higher, […]