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September 4, 2024

Fed cannot wait inflation at 2% to begin rate cuts: Official

ISTANBUL: Atlanta Fed President Raphael Bostic said the US Federal Reserve cannot wait until inflation falling all the way to its 2% target to begin interest rate cuts.

“We must not maintain a restrictive policy stance for too long,” he wrote in an a…

US trade deficit jumps 7.9% in July to highest since mid-2022

ISTANBUL: The US trade deficit jumped 7.9% to $78.8 billion in July, climbing to its highest level since mid-2022, according to the Commerce Department’s Census Bureau on Wednesday.

The figure came in line with market expectations, while the trade de…