US Inflation Eases to 2.4% in September, Fed Rate Cuts on Track
Published: Thursday, 10 October 2024 10:20 | 
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The September US Consumer Price Index (CPI) report shows inflation at 2.4% annually, slightly above expectations. While this marks the smallest increase since February 2021, core inflation rose to 3.3%. The Federal Reserve is expected to continue with planned interest rate cuts, but at a more measured pace of quarter-point reductions.
Social Security Payments to Rise 2.5% in 2025, Benefiting Millions
Published: Thursday, 10 October 2024 10:15 | |
| The Social Security Administration has announced a 2.5% cost-of-living adjustment (COLA) for 2025, which will increase monthly benefits for over 72 million Americans, including retirees and disabled workers. This adjustment, effective January 2025, will add approximately $48 to the average monthly benefit of $1,907, helping beneficiaries cope with inflation. While lower than the 3.2% increase in 2024, this COLA aligns with the average annual adjustments of recent years.
Fed seen cutting rates gradually to 3.5% by mid-2025
Published: Thursday, 10 October 2024 10:08 | |
| Financial markets are predicting a series of interest rate cuts by the Federal Reserve, beginning with a 0.25% reduction in November. The central bank is projected to lower rates to around 3.5% by mid-2025, with some speculation of further cuts. This outlook follows recent economic indicators and the Fed's previous "recalibration" of monetary policy.
Bond Market Braces for Post-Election Fiscal Challenges, PIMCO Reports
Published: Thursday, 10 October 2024 09:55 | |
| Bond giant PIMCO predicts challenges for U.S. government bonds due to widening budget deficits and possible inflationary trade policies after the November election. Although the firm expects a soft economic landing and sees opportunities in intermediate-duration bonds, it cautions against longer-duration bonds that may be affected by fiscal and trade policies. PIMCO forecasts persistent high deficits and a steepening yield curve, regardless of which party wins the election.
US Inflation Edges Down in September, But Core Prices Remain Stubborn
Published: Thursday, 10 October 2024 09:51 | |
| The US Consumer Price Index (CPI) for September showed inflation at 2.4% annually, slightly higher than expected but lower than August's 2.5%. While overall inflation continued to cool, core prices remained sticky, rising 0.3% monthly. This data, combined with strong labor market figures, may influence the Federal Reserve's future interest rate decisions.