WASHINGTON (AP) — It was the most painful inflation Americans had experienced since 1981, when “The Dukes of Hazzard” and “The Jeffersons” topped the TV charts. But now the Federal Reserve appears to be on the verge of defeating them – and without the rise in unemployment and the deep recession that many economists had … [Read more…]
Unlock Editor’s Digest for free Roula Khalaf, editor of the FT, picks her favorite stories in this weekly newsletter. Weeks before their final meeting of 2023, Federal Reserve officials appeared to have one goal in mind: maintaining as much flexibility in monetary policy as possible to end what has become an uphill battle to contain … [Read more…]
Stay up to date with free updates Simply sign up for the US Interest Rate myFT Digest – straight to your inbox. Federal Reserve Chairman Jay Powell sent his clearest signal yet on Wednesday that the U.S. central bank is finished with two years of tightening monetary policy and will begin cutting interest rates in … [Read more…]
Federal labor regulators on Wednesday accused Starbucks of illegally closing 23 stores to stifle organizing activity and trying to force the company to reopen. A complaint filed by a regional office of the National Labor Relations Board argued that Starbucks closed stores because its employees were engaging in union activities or to discourage employees from … [Read more…]
Senator Bernie Sanders, an independent from Vermont, left, speaks next to Christian Smalls, founder of the Amazon Labor Union (ALU), during an ALU rally in the New York City borough of Staten Island, U.S., Sunday, April 24, 2022. Victor J. Blue | Bloomberg | Getty Images A National Labor Relations Board judge ruled that Amazon … [Read more…]
Financial markets will “take off” once investors are confident the Federal Reserve has completed raising interest rates, outgoing Morgan Stanley CEO James Gorman predicted, offering an optimistic outlook for his successor. In a wide-ranging interview with the Financial Times a few days before handing over the CEO job to Morgan Stanley co-president Ted Pick, Gorman … [Read more…]