Month: June 2024

Employers created 272,000 jobs last month, the Labor Department reported Friday, well above what economists had expected as hiring had gradually slowed. That's an increase from the average of 232,000 jobs over the previous 12 months, muddying the picture of an economy that is relaxing to a more sustainable pace. What most concerns the Federal Reserve, which meets next week and again in July, is the 4.1% increase in wages over last year, a sign that inflation may not yet have been defeated. “For those who thought they would see a rate cut in July, that door has largely been…

The Federal Reserve's preferred inflation gauge continues to show signs of cooling, accompanied by moderate growth in consumer spending - good news for central banks aiming to control rising prices and curb demand. In May, the personal consumption expenditures (PCE) index rose 2.6% from a year earlier, meeting economists’ expectations and down slightly from April’s 2.7% increase. Excluding the more volatile food and fuel prices, core inflation also rose 2.6% year-over-year, down from April’s 2.8%. On a monthly basis, inflation remained remarkably subdued, with overall prices not showing any significant increases. The Federal Reserve is likely to be looking closely…

Boeing is facing new criticism after the disclosure of a January crash involving a 737 Max plane. During a factory visit, a Boeing executive revealed details about missing bolts that led to a panel coming off during the crash. flight. This sharing of information angered the National Transportation Safety Board (NTSB), which called it a “blatant violation” of investigative rules. The NTSB is investigating the crash and says Boeing is not permitted to discuss details or speculate on the causes. As punishment, they will limit Boeing's access to information about the investigation and prevent him from questioning others at an…