The Federal Reserve may not cut interest rates until late 2024, Atlanta Fed President Raphael Bostic said Friday. In an interview on CNBC, Bostic was asked when the Fed would cut rates. “When we get really close to 2%,” he replied. Pressed for a date, Bostic added, “so I would…

By Patricia Zengerle WASHINGTON (Reuters) – Democratic U.S. Senate Majority Leader Chuck Schumer said on Monday the Senate will seek within days to pass a resolution supporting Israel, approve additional funds for Israel and confirm a new U.S. ambassador to the Jewish State. Schumer spoke as the Senate opened after…

Rep. Jim Jordan indicated Friday that he planned to keep pushing to become the next speaker of the U.S. House of Representatives, even as he continues to face opposition from his fellow Republicans. “There’s been multiple rounds of votes for speaker before,” the Ohio congressman said during a news conference,…

By Andrea Shalal and David Lawder MARRAKECH, Morocco (Reuters) -Global finance leaders’ paralysis in coming to grips with the fallout from the Hamas attack and Israel’s response last week exposed deep geopolitical divisions hampering the International Monetary Fund and World Bank, even as they advanced new funding plans aimed at…

President Joe Biden on Friday asked Congress for about $14 billion to support Israel as it battles Hamas, and requested more than $61 billion to aid Ukraine in its ongoing war with Russia. The requests, which Biden previewed in an Oval Office address on Thursday night, arrive on Capitol Hill…

NEW YORK (Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker said on Monday the central bank should not create new pressures in the economy by increasing the cost of borrowing. “We should not at this point be thinking about any increases” in the Fed’s rate target, Harker told…

The International Monetary Fund (IMF) expressed support for Nigeria’s recent currency reforms and the Central Bank of Nigeria’s (CBN) decision to lift a foreign exchange embargo on 40 more imports, as revealed at the World Bank Group/IMF meeting on Monday. The IMF lauded the efforts of President Bola Tinubu and…

“ Fed Chairman Jerome Powell is essentially telling us that  monetary policy may work its wonders if we are just patient.” A Federal Reserve decision to keep interest rates steady, as the U.S. central bank seeks to tame inflation while avoiding a recession, has support from policy doves like Chicago Fed President Austan Goolsbee. But following this path is…

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets are set to open higher on Tuesday as investors look through developments in the Middle East and rising geopolitical tensions, and take heart from an otherwise more benign…

“ It is naïve to assume that the largest credit-fueled bubble in half a century can continue indefinitely or be deflated without pain. ” Talk show pontifications notwithstanding, the trajectory of the world’s two most serious geopolitical conflicts — Ukraine and the Middle East — is unpredictable. In the Israel-Hamas…