US firms point to slowing activity and softer labour market, Fed survey shows

Quick Summary:

Its temperature check on the health of the economy also showed that inflation pressures increased.

Earlier on July 17, two top Fed officials said interest rate cuts are “getting closer,” remarks that appear to set the stage for a lowering of borrowing costs in September.

Fed officials recently have said the labour market has come into better balance thanks to an influx of workers, many of them foreign born, a development also represented in July 17’s report.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Districts Rate Reported Growth July Pace Cent Inflation Activity Modest Labour

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-18 @ 09:50:00 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 888 words

Reading Time: 5 minutes read

Sentences: 31 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21669627

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Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 20 posts per day

Year Established: 1845

Headquarters: Singapore

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Publisher ID: #25

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