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Newspaper
The Gazette
Location
Medina, Ohio, United States of America
Date
Mar 30, 2024
Page
11
The government reports February prices rose 0.3 percent from January with 2.5 percent yearly inflation, while core PCE gained 0.3 percent monthly and 2.8 percent annually. Energy and services drove mixed moves as incomes rose 0.3 percent, fueling signals of a potential Fed rate cut later this year.
Federal Reserve Chair Jerome Powell reiterated that the Fed plans to cut rates this year but requires further evidence that inflation is moving toward the 2 percent target. He spoke at a conference in San Francisco noting inflation should come down on a bumpy path, with policymakers awaiting clearer signals.
Huawei Technologies, based in Shenzhen, posted 2023 net profit of 12 billion dollars and revenue of 97.4 billion, led by cloud computing growth of 22 percent to 7.7 billion and a 17.3 percent rise in consumer devices revenue, amid U.S. sanctions and global expansion.
American Airlines widens rules allowing a pet in cabin with a regular carry on or personal item, not both bags. The change, effective Thursday, aims to curb service animal misrepresentation and follows a long pet fee policy.
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