St. Louis Fed names former Tudor executive Alberto Musalem as new president
Musalem, 55, will start on April 2. He replaces James Bullard, who joined Purdue University last August.
Private payrolls added 164,000 in December, beating expectations, ADP says
Private payrolls increased by 164,000 for the month, a substantial increase from the downwardly revised 101,000 in November.
Job openings nudged lower in November, down to 1.4 per available worker
The JOLTS report showed employment listings nudged lower to 8.79 million, about in line with the Dow Jones estimate for 8.8 million.
Saudi Arabia’s sovereign wealth fund overtakes Singapore’s GIC to top spending table
Notable overseas investments in 2023 included Nintendo in Japan and Vale Basic Materials in Brazil.
From FedEx to airlines, companies are starting to lose their pricing power
Faced with weakening demand, price-sensitive consumers and easing inflation, some sectors are now forced to grow profits without the tailwind of price hikes.
Inflation has created a dark cloud over how everyday Americans view the economy
Anger about higher prices appears to outweigh the benefits of a hot labor market in the minds of consumers.
Fed’s favorite inflation gauge shows prices rose at 3.2% annual rate in November, less than expected
The core personal consumption expenditures price index was expected to increase 0.1% in November and 3.3% from a year ago.
UK inches closer to technical recession as growth is revised down
The U.K. is edging closer to technical recession after revised figures showed the economy shrank in the previous quarter.
UK and Switzerland to sign post-Brexit financial services deal
The U.K. and Switzerland on Thursday will sign a post-Brexit financial services deal designed to bring two of Europe's largest banking centers closer together.