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  • Dec 06, 2024

Fed’s Goolsbee Says US Labor Market Still Looks Stable

(Bloomberg) -- Federal Reserve Bank of Chicago President Austan Goolsbee said the labor market appears largely stable despite a bumpy series of data on the US jobs landscape. Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectPointing to the average payroll numbers over recent months, Goolsbee said Friday in a question-an

  • Dec 05, 2024

Wall Street Bond Sellers Look Toward Bigger Bonus Rewards

(Bloomberg) -- Wall Street bankers who help companies sell debt are poised to get bigger bonuses for their work in 2024 and may collect even higher rewards for next year if issuance trends continue, according to recruiting and compensation specialists.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSearch firm Options

  • Dec 05, 2024

Fed's Hammack says time to slow rate cuts may have arrived

In her first major policy speech, Federal Reserve Bank of Cleveland President Beth Hammack said on Friday she’s keeping her options open when it comes to the central bank’s next policy meeting, as broader economic conditions continue to argue for a slowdown in the pace of rate cuts. “I believe we are at or near the point where it makes sense to slow the pace of rate reductions,” Hammack said in the text of a speech prepared for delivery before The City Club of Cleveland. As for what will happen at the Federal Open Market Committee meeting scheduled for Dec. 17-18, Hammack said that more data is coming between now and then, noting she “will maintain an open mind” about how to set the federal funds rate, which is currently set between 4.5% and 4.75%.

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