Fierce competition will dominate artificial intelligence risks driving investment spending to excessive levels that could tip some economies into recession, the Bank for International Settlements said.
High interest rates and a chronic shortage of inventory have pushed the U.S. housing market to a breaking point. In this podcast series, we examine the strategies emerging to solve the housing shortfall.
The process of selecting a new bank president stalled and has been restarted. White House advisers have taken an interest in a process they have no formal role in.
Inflation expectations for the year ahead fell as consumers reacted to easing tensions in the Middle East, likely reassuring ECB policymakers who fear an uncontrolled rise in price pressures.
The central bank’s board voted unanimously to leave the overnight interest-rate target at 6.5%, and reiterated that they expect to stay on hold for the foreseeable future.
The number of people who filed for unemployment benefits dropped to 215,000 in the week through June 25, lower than the upwardly revised 227,000 reported a week earlier.
Over the past year, the PCE index is up by 4.1%, its highest reading since April 2023 and more than double the preferred target rate for the Federal Reserve.