Inflation slows as Fed seen cutting rates later this year
The government reports February prices rose 0.3 percent from January with core prices up 0.3 percent. Year over year inflation stands at 2.5 percent, while the CPI runs hotter than the PCE gauge used by the Fed. Analysts expect possible rate cuts, with Oxford Economics noting a 0.3 percent January to February rise may still be too high.
MENTIONED IN THIS ARTICLE
Pearce
Oxford
Fed
Washington
Federal Reserve
Joe Biden
America
Biden
Michael Pearce
Oxford Economics
Wall Street
Akihiro Kobayashi
Japan
Health Ministry
Powell signals inflation progress needed before rate cut
Federal Reserve Chair Jerome Powell says the central bank will not cut rates until it sees more good inflation readings and clearer evidence that price gains are moving toward 2 percent. He expects inflation to eventually fall but gradual and uneven, delaying the first rate cut since the 2022 hikes.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Jerome Powell
Fed
Federal Reserve Bank of San Francisco
Powell
Huawei reports over doubling profit on cloud drive in 2023
Huawei Technologies reported 2023 net profit of 12 billion dollars with 97.4 billion dollars in revenue, as cloud computing and digital services boosted results despite U.S. sanctions. Cloud revenue reached 7.7 billion and the firm highlighted gains from some business sales while expanding high end devices like Mate 60.
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Hong Kong
Huawei Technologies
U.S
Huawei
Ken Hu
China
Washington
Semiconductor Manufacturing International Corporation
SMIC
Taiwan
R&d
Airlines relax pet policy letting cabin carry on with pet
American Airlines now allows a pet in the cabin with a regular carry on or personal item, not both, after previously restricting under seat items. The change aims to curb service animal fraud and took effect Thursday with details unavailable due to Good Friday closures.
MENTIONED IN THIS ARTICLE
Fort Worth
Texas
American Airlines
American
Gary Leff
Leff
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Paul Wiseman
Associated Press
Downers Grove
Illinois
Airline
Detroit
National Highway Traffic Safety Administration
NHTSA
Ford
Texas AG
Boeing
Dallas
Office of Texas
Ken Paxton
Spirit AeroSystems
Spirit
Boeing Company
Paxton
Alaska Airlines
Federal Aviation Administration
Boeing Spirit
FAA
Tokyo
Kobayashi Pharmaceutical Co
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