Cleveland Fed President: US Labor Market Remains Strong Amid Signs of Balancing

Strong US Labor Market Shows Signs of Balancing, Says Federal Reserve Official Washington, DC – In a recent speech, Cleveland Federal Reserve Bank President Loretta Mester emphasized that despite indications of balancing, the US labor market remains resilient. Mester also highlighted the importance of data-driven interest rate decisions. “Despite witnessing some improvements in the balance […]

Philadelphia Fed President Expects No Further Interest Rate Hikes This Year

Philadelphia Fed President Expects No Further Interest Rate Hikes in 2020 New York, August 24 (Reuters) – Speaking at the Kansas City Fed’s Jackson Hole symposium in Wyoming, Philadelphia Federal Reserve Bank President John Harker expressed his belief that the Federal Reserve will not raise interest rates any further this year. In an exclusive interview […]

Wells Fargo Investment Institute Raises US GDP Growth Forecast for 2023

Wells Fargo Investment Institute Raises US GDP Growth Forecast for 2023 In a significant update, the Wells Fargo Investment Institute (WFII) revised its projection for the US gross domestic product (GDP) growth in 2023. The previous forecast of 1.1% has now been lifted to an optimistic 2.2%. This adjustment reflects a positive outlook for the […]

The Recreational Vehicle Industry Faces Challenges Amidst Pandemic Demand Shifts

An Unprecedented Slump: Recreational Vehicle Industry Hit Hard Amidst Pandemic The RV industry faces its worst level of sales since 2015 as the pandemic takes its toll Fort Lauderdale, Florida-based Blue Compass RV, a leading recreational vehicle (RV) dealership with 103 stores across the United States, is feeling the strain as the industry battles an […]

ISM Non-Manufacturing Index Surges in June, Signaling Continued Economic Expansion

Institute for Supply Management’s Non-Manufacturing Index Exceeds Expectations Washington (Reuters) – The Institute for Supply Management (ISM) reported that its non-manufacturing index exhibited a significant rise in June, reaching 53.9 compared to the previous month’s 50.3. This surpassed market expectations, which were set at 51.0. The data suggests a positive outlook for the service sector, […]

Mainland Banks Plunge on Goldman Sachs Downgrade

Mainland Banks Plummet on Hong Kong Stock Market Shanghai/Hong Kong – In a significant development, mainland banks experienced a sharp decline in the Hong Kong stock market on Thursday. The cause for concern was sparked by Goldman Sachs’ decision to downgrade its investment positions regarding Agricultural Bank of China and several others. On the 5th […]