General News

By Michael S. Derby

NEW YORK (Reuters) - The underlying level of interest rates viewed as neutral in economic influence held steady at a low level over the first three months of this year, according to data released on Friday by the Federal Reserve Bank of New York.

The bank said that R-Star stood at 0.7% in the first quarter of this year, unchanged from the revised reading reported for the final three months of 2023. The bank defines... (continue reading...)

Investing.com -- Chicago Fed President Austan Goolsbee on Friday welcomed the softer inflation data this week, but insisted that further evidence of slowing inflation in the months ahead would pave the way to rate cuts. 

"if we keep making progress on inflation, and the rates can come down, we may avoid recession," Goolsbee told the Iowa Farm Bureau Economic Summit in Ankeny, Iowa on Friday, following data earlier this week showing deeper slowing of inflation in... (continue reading...)

By Michael S. Derby

NEW YORK (Reuters) -A financial disclosure form for Federal Reserve Bank of Atlanta President Raphael Bostic notes more issues with reporting of past trading and investing activities.

Bostic’s disclosure form for 2023, made public on Friday, flagged several filing errors, including one that was referred to the central bank’s Inspector General, the central bank’s in-house watchdog.

The latest form pointed to... (continue reading...)

By Ann Saphir

(Reuters) -Federal Reserve Bank of Chicago President Austan Goolsbee on Friday said he was relieved after data this week showed inflation in May had cooled, but he would still like to see "more months" of similar data before cutting interest rates.    "Inflation was back down to levels that, if we got a lot of months like this, we would be feeling so much better," Goolsbee told the Iowa Farm Bureau Economic Summit in Ankeny, Iowa. Government... (continue reading...)

By Foo Yun Chee

BRUSSELS (Reuters) - Apple and Meta Platforms will likely face charges for failing to comply with landmark EU rules aimed at reining in their power before the summer, three people with direct knowledge of the matter said on Friday.

The European Commission, which launched investigations into the two companies and Alphabet's Google in March under the Digital Markets Act (DMA), sees Apple and Meta as priority cases, the... (continue reading...)