Europe stocks close higher, euro and sterling climb as Powell says 'time has come' for lower rates
LONDON — European stocks closed higher Friday after Federal Reserve Chair Jerome Powell firmly signaled interest rate cuts ahead.
Asian-News.net is your go-to online destination for comprehensive coverage of major news across Asia. From politics and business to culture and technology, we bring you the latest updates, deep analyses, and critical insights from every corner of the continent. Featuring exclusive interviews, high-quality photos, and engaging videos, we keep you informed on the breaking news and significant events shaping Asia. Stay connected with us to get a 24/7 update on the most important stories and trends. Our daily updates ensure that you never miss a beat on the happenings in Asia's diverse nations. Whether it's a political shift in China, economic development in India, technological advancements in Japan, or cultural events in Southeast Asia, Asian-News.net has it covered. Dive into the world of Asian news with us and stay ahead in understanding this dynamic and vibrant region.
LONDON — European stocks closed higher Friday after Federal Reserve Chair Jerome Powell firmly signaled interest rate cuts ahead.
JACKSON HOLE, Wyoming (Reuters) -- Federal Reserve Chair Jerome Powell on Friday offered an explicit endorsement of an imminent policy easing, saying further cooling in the job market would be unwelcome and expressing confidence that inflation was within reach of the U.S. central bank's 2% target.
Contrary to what many believe, investment research firm BCA Research sees that the economy is on the cusp of a recession, and the predicted upcoming U.S. Federal Reserve rate cuts will not be sufficient to steer markets out of it.
Stock futures rose slightly in overnight trading Thursday as traders await an all-important policy speech from Fed Chair Jerome Powell for any guidance on future rate cuts.
The next innovation in cryptocurrencies won't come from the introduction of a Solana ETF. Asset managers say they're more focused on other ways investors can diversify their portfolios with crypto.