Bill Adams

Editor’s note: This story has been updated to correct a reference to January 2025 in comments from Comerica Bank’s chief economist. The Federal Reserve has every reason to cut interest rates at its next meeting in September since the U.S. revised its jobs report, according to...

The Federal Reserve decided at its Wednesday meeting to keep the key interest rate between 5.25% and 5.5% while maintaining other policy interest rates and continuing to lower its bond holdings at a rate of $60 billion per month. Bill Adams, chief economist for Comerica Bank, said the committee...

The Personal Consumption Expenditure (PCE) price index keeps falling. This reaffirms the possibility that the Federal Reserve will cut the key interest rate by September. The PCE, the Fed’s favored inflation indicator which tracks U.S. consumer spending, rose 2.5% on an annual basis in June,...

After the severe pounding the tech space received in the past three sessions, it might be rebound time. However, any recovery will largely hinge on whether key inflation data confirms the continued downward trajectory in pricing pressure. The major index futures are notably higher early Friday....

Inflation may stay elevated beyond people’s expectations, according to economists. What Happened: The Producer Price Index released Friday showed a higher-than-expected increase in June. The results surprised investors. Observers anticipate rate cuts on the horizon after a larger-than-...

The U.S. labor market doesn’t appear as tight and hot as a couple of months ago, with the June’s Employment Situation report likely to show an overall cooling trend from a very strong performance in May. Slated for release Friday at 8:30 a.m. ET, the official jobs report from the...

Economists have broadly welcomed the latest key piece of inflation data, with the Personal Consumption Expenditure (PCE) price index — commonly referred to as the Fed’s favorite measure of inflation — dropping to a 2.6% year-on-year rate in May 2024, its lowest level since March 2021. This...

The Federal Reserve held interest rates steady at 5.25% to 5.5% during its March meeting Wednesday, signaling readiness to lower borrowing costs in the near future. The announcement came alongside the release of new economic projections revealing a Federal Open Market Committee (FOMC) consensus for...

Stocks remain in rally mode, with early Wednesday futures indicating a modestly higher opening. The Federal Reserve’s rate decision day is here, creating a fidgety mood until the post-meeting policy statement is released. While the market anticipates rate cuts in early 2024, doubts persist...

Stocks appear on track to open Thursday’s session on a firm note. However, the trading direction will likely hinge on the personal consumption expenditure index, which is deemed the Fed’s preferred inflation gauge. With the OPEC+ set to announce its decision on oil output, oil and...

It’s a mixed Friday on Wall Street, with tech investors cheering stellar earnings from Amazon.com, Inc. (NASDAQ:AMZN) and an in-line personal consumption expenditure inflation rate, while bears continued to weigh on the broader stock market. Economists perceived the latest data on the Fed...

Wall Street experienced a significant downturn Thursday as volatility surged, triggered by a shift in risk sentiment following a combination of mixed earnings reports and stronger-than-predicted economic data, with the latter reviving concerns for an additional rate hike down the road. The U.S....

Risk appetite saw a setback during the final session of the week as stock markets dipped in response to a renewed surge in inflationary pressures. Oil prices made a notable climb, with the WTI benchmark rising to $90 per barrel. The strike launched by the United Auto Workers union against the major...

In a keenly-watched address at the Jackson Hole Economic Policy Symposium, Federal Reserve Chair Jerome Powell set the stage for potential interest rate hikes, reiterating the Fed’s commitment to price stability. Wall Street, always ready to interpret and forecast based on Fed speak, has a...

On Monday, U.S. stocks made a cautious attempt at bouncing back following three consecutive weeks of losses. The upward momentum seems uncertain, and the recent increases in Treasury yields are posing challenges for the market bulls. The 10-year Treasury yield reached 4.35%, reaching its highest...