PIMCO, a leading U.S. bond giant, has recently adjusted its expectations for interest rate cuts by the Federal Reserve this year. Initially, the firm predicted two to three cuts, but now they are leaning towards only two cuts for the year. Portfolio manager Mike Cudzil stated that the adjustment is a result of the U.S.
Economy
In a recent development, British billionaire Joe Lewis was ordered by a U.S. judge to pay a hefty fine of $5 million and serve three years of probation after pleading guilty to conspiracy and securities fraud. This case sheds light on the illegal sharing of inside information by Lewis, enabling his associates to make millions
The European Central Bank (ECB) is considering the possibility of cutting interest rates in June as inflation levels are expected to drop faster than previously anticipated. Robert Holzmann, an Austrian policymaker and member of the ECB’s Governing Council, emphasized the importance of not moving too far ahead of the U.S. Federal Reserve in order to
According to Cleveland Fed President Loretta Mester, interest rate cuts could be on the horizon this year. However, Mester emphasized the importance of not pivoting to cuts too early, as it could pose a greater risk than keeping rates higher for longer. She believes that if the economy progresses as expected, it may be suitable
Recently, a federal judge in Texas made a decision that could have significant implications for how lenders extend loans and services to low- and moderate-income Americans. This ruling, which blocked the enforcement of new regulations adopted during the Biden administration, has sparked a debate among banking and business groups. Let’s delve deeper into the details
Recent data from a closely watched central bank survey in Japan has revealed that business sentiment among big Japanese non-manufacturers has reached a more than three-decade high in the first quarter. This improvement offers a glimmer of hope for policymakers, suggesting that domestic demand could serve as a foundation for the country’s fragile economic recovery.
The recent collapse of the Francis Scott Key bridge in Baltimore’s harbor has caused significant devastation, leading to the loss of six lives and leaving 15,000 people without work due to the closure of the port. Governor Wes Moore has urged Republicans to collaborate with Democrats in order to secure the federal funding necessary for
The central bank chief of Israel, Amir Yaron, has emphasized the importance of responsible fiscal policy in light of the country’s recent military budget expansion. While the government has approved additional funding for defense spending to combat Hamas in Gaza, Yaron believes that it is crucial to balance this increase with restraint in non-defense spending
The tragic collapse of the Francis Scott Key Bridge in Baltimore has sent shockwaves through the city and disrupted the operations of the Port of Baltimore. Salvage crews are now working diligently to lift the first piece of the collapsed bridge from the Patapsco River in order to clear the way for additional vessels to
Japanese health officials conducted a search at a Kobayashi Pharmaceutical factory in Osaka following reports of five deaths possibly connected to dietary supplements containing red yeast rice. The Ministry of Health, Labour and Welfare, in collaboration with the City of Osaka, inspected the factory where the supplements, which included “Beni-Koji” red yeast, were produced. Company