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Israel-Gaza war: Hamas responds to ceasefire offer with 135-day truce plan
Hamas has laid out a series of demands, including exchanging hostages for Palestinian prisoners and rebuilding Gaza, in response to an Israel-backed ceasefire proposal. The armed group wants a full withdrawal of Israeli forces and an end to the war after three 45-day truce periods. The offer is likely to be unacceptable to Israel's prime minister, who has called for "total victory" in Gaza. The question is whether a middle ground can be reached to move the process on. Hamas's response is a counteroffer to a ceasefire proposal backed by Israel and the US and mediated by Qatar and Egypt - details of which have not ... (full story)
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video Takeaways from Boston Fed President Susan M. Collins’ February 7, 2024 remarks. 1. The U.S. economy overall performed remarkably well in 2023. Inflation slowed notably last year, while the job market remained quite favorable. These very encouraging trends have reinforced Collins’ optimism that we are on a path to price stability with a healthy job market. 2. However, Collins says she will need to see more evidence that the disinflationary process will continue before beginning to carefully adjust the monetary policy stance. Recent developments in the economic data highlight that progress toward achieving the Fed’s mandated goals could be uneven, and more time is needed to discern whether some of the promising economic trends we saw in 2023 will both broaden and persist, going forward. post: ? COLLINS: LIKELY WILL BE APPROPRIATE TO EASE 'LATER THIS YEAR' ? FED’S COLLINS: NEED MORE EVIDENCE TO CONSIDER RATE CUTS post: FED’S COLLINS: WHEN CUTS START, THEY SHOULD BE GRADUAL AND METHODICAL || FED’S COLLINS: SUPPORTED FOMC DECISION TO KEEP RATES STEADY LAST WEEK || FED’S COLLINS: NEEDS MORE DATA BEFORE SUPPORTING RATE CUT FED’S COLLINS: STRONG JANUARY JOBS DATA SHOWS WHY CAUTION WARRANTED ||…
I am very pleased to be speaking here at the Brookings Institution, one of the country's premier centers for policy discussion and analysis.1 As you all know, the Federal Open Market Committee (FOMC) has been working to lower inflation in the context of achieving our dual mandate of maximum employment and price stability. Today I will discuss recent economic developments in the U.S., talk about how I approach our dual mandate, and explain how I view the current stance of monetary policy. By way of introducing myself, my career in both academia and public service has included a focus on both labor markets and inflation. In my academic work, I have explored various aspects of labor markets—including the effects of labor market policies and the role of educational attainment, among other topics—as well as detailed measurement of productivity and prices. As the chief economist at the U.S. Department of Labor, I engaged regularly with the Bureau of Labor Statistics, which produces data on both employment and inflation. I have approached these topics through both a rigorous focus on measurement considerations and a broader view of the real-world experiences of the people who underlie the headline data. I will continue to do that as a member of the FOMC. With that background, I will now turn to recent economic developments and the outlook for this year. The pace of inflation continues to slow. Twelve-month inflation, as measured by the personal consumption expenditures (PCE) index, was 2.6 percent in December, down from its peak of 7.1 percent in June 2022. And the six-month rate for PCE inflation was even lower, at 2 percent. While the FOMC uses PCE inflation for our 2 percent target, we also look to core PCE inflation, which excludes more volatile food and energy prices, as an indication of the underlying inflation trend. Core PCE inflation was 2.9 percent in December, also down from its high of 5.6 percent in February 2022, and six-month core PCE inflation was just 1.9 percent in December. We have made great progress. The slowing in total and core PCE inflation that we have seen over the past year or so is the most dramatic since the early 1980s—even though this progress has been uneven from month to month. post: KUGLER: FED’S JOB ON INFLATION ‘NOT DONE YET’ #News #Markets #INFLATION #live post: ? FED’S KUGLER: MAY BE APPROPRIATE TO CUT RATES `AT SOME POINT’ post: FED'S KUGLER: OUR POLICY STANCE IS RESTRICTIVE. post: ? FED'S KUGLER: IF DISINFLATION PROGRESS STALLS, MAY BE APPROPRIATE TO HOLD POLICY RATE STEADY FOR LONGER
Minneapolis Federal Reserve President Neel Kashkari said Wednesday that he expects the central bank to cut rates only a few times this year, contrary to market expectations. ...
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The US trade deficit narrowed last year by the most since 2009 as the value of imported goods declined and the services surplus increased. The annual trade shortfall shrank nearly ...
post: RICHMOND FED'S BARKIN Q&A/ECON CLUB DC: FOMC PARTICPANTS HAVE EQUAL PARTICIPATION WHETHER THAT YEAR'S VOTER OR NOT #Barkin #FederalReserve #economy post: FED'S BARKIN: THERE'S A LOT OF PEOPLE STILL LOOKING FOR WORKERS. post: MORE RICHMOND FED'S BARKIN Q&A/ECON CLUB DC: LATEST DATA, LIKE GDP, 'REMARKABLE;' DEMAND HEALTHY; STILL TIGHT, 'VERY STRONG' 'LABOR MKT #Barkin #FederalReserve #economy post: MORE RICHMOND FED'S BARKIN Q&A/ECON CLUB DC: COULD HAVE UPWARD PRICES REBOUND; WONDER IF GOODS DISINFLATION SUSTAINABLE; FIRMS HAVE 'LITTLE MORE' PRICING POWER #Barkin #FederalReserve #economy
After major developed market (DM) economies showed surprising resilience in 2023, we anticipate a downshift toward stagnation or mild contraction in 2024. DM inflation is finally ...
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- Posted: Feb 7, 2024 11:35am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,761