Fed grapples with low unemployment and rate cutting pressure
The Fed faces a paradox as unemployment sits at 3.5 percent, the lowest since 1969, while inflation and borrowing costs remain subdued. Powell navigates calls to cut rates further amid Trump trade tensions and a shaping strategy shift toward an average inflation target.
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U.S. producer prices fall in September signaling tame inflation
The Labor Department reports the producer price index down 0.3 percent in September marking the first decline since June and the largest since January. Core wholesale prices slipped 0.3 percent as declines spread across clothing and machinery, with yearly increases at 1.4 percent overall and 2 percent for core prices.
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Hotels target sexual harassment with security devices
More than 5,000 U.S. hotels and resorts have begun supplying employees with security devices and harassment training as part of a push spurred by the MeToo movement. An additional 15,000 properties aim to join by 2020, with unions cautious about the devices’ effectiveness and the presence of true panic systems.
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Kurt Petersen
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Stocks Fall as U S China Tensions Escalate With Talks Looming
U S equities slid with chipmakers leading the S&P 500 1.6% lower as visa bans on Chinese officials and threats to curb capital flows heighten trade frictions ahead of high level discussions in Washington. Powell signals caution while markets weigh policy paths and yields retreat.
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