March
Employment falls; Single word boosts shares; Apple pulls iPhone ad
Read everything that’s happened in the news so far today.
This single word just sparked a sharemarket pop
Federal Reserve chairman Jerome Powell has kept rates on hold, citing extreme uncertainty. But his use of one particular word to describe tariff-related inflation shocked investors.
Fed cuts growth forecast on Trump tariff uncertainty
Federal Reserve policymakers also held rates steady, though they indicated borrowing costs would drop by 50 basis points by the end of the year.
US inflation eases, as economists await impact from Trump’s tariffs
Analysts anticipate that the president’s escalating trade wars will drive up prices on a range of goods from food to clothing in the coming months.
In Trump’s inflationary American dream, cheap does not mean good
US Treasury Secretary Scott Bessent backs the president’s trade war even if it worsens the cost-of-living squeeze on ordinary Americans.
Powell says Fed will wait for clarity on Trump policy shifts
“We are focused on separating the signal from the noise as the outlook evolves,” the Fed boss said, adding the US economy is in “a good place”.
February
Sticky US inflation just made the RBA’s cut call harder
Four months after the Fed cut rates, inflationary pressures appear to be building in the US. The lesson is unlikely to be lost on the Reserve Bank.
US CPI data points to prolonged rate hold: economists
Consumer prices rose at a faster pace than expected last month, and the probability of rate cuts by the Federal Reserve has fallen, economists and strategists say.
US inflation rises broadly, further denting rate cut prospects
Higher prices for car insurance, airfares and a record monthly increase in the cost of prescription drugs paced the rise in core prices.
Powell tells Congress Fed still in no rush to lower rates
In his prepared remarks, the Federal Reserve chairman said the jobs markets was “broadly in balance” and inflation expectations appear “well-anchored”.
‘Trade war on steroids’: Trump launches markets gamble
The president bets he can achieve his aims through tariffs without igniting inflation or a sell-off in American stocks.
Key Fed inflation gauge ends 2024 with a muted advance
On a three-month annualised basis – seen as a more accurate picture of the trajectory of inflation – the core PCE price gauge rose 2.2 per cent, the least since July.
January
This is what higher for longer looks like
Jerome Powell was careful not to mention the president by name, but his shadow is a big reason the US central bank is sitting on its hands.
Trump lashes Powell after Fed keeps rates on hold
The president sharply criticised the Federal Reserve for defying his calls to lower interest rates, and instead signalling a new wait-and-see approach.
Fed gets greenlight to, at least, slow rate cuts: Wall Street view
Bank of America thinks that the US rate-cutting cycle is over, though Oxford Economics is still holding to its base forecast of three cuts, starting in March.
US economy smashes job expectations, unemployment rate drops
Nonfarm payrolls increased 256,000 last month, the most since March, bolstering the case for a pause in Federal Reserve interest rate cuts.
Will Trump fire Jerome Powell?
When it comes to the US economy, the spotlight is on whom the president-elect might try to dismiss rather than whom he plans to appoint.
December 2024
Chook awards for 2024 and stock picks for 2025
James and Anthony bring 2024 home to roost with the Annual Chook Awards. Plus get some sharemarket tips from a fund manager with a nearly $8 billion portfolio.
Inflation risk crashes into political risk
Market tantrums and the fall in the Australian dollar in response to the US Fed show that next year is likely to be even more volatile.
ASX dives 2pc; Shayne Elliott’s $3m bonus hit; JobKeeper ‘saved jobs’
Read everything that’s happened in the news so far today.