Fashion
Fed to cut rates in Dec, forecasts GSR; US job market weakness genuine
Seeing ‘genuine’ signs of weakness in the US job market, it does not expect the picture to change enough by the December meeting for the Federal Open Market Committee (FOMC) to stop cutting.
Goldman Sachs Research recently forecast that the US Federal Reserve will cut interest rates again in December.
Seeing ‘genuine’ signs of weakness in the US job market, it does not expect the picture to change enough by the December meeting for the Federal Open Market Committee to stop cutting.
It also expects two 25-basis-point cuts in March and June next year to a terminal rate of 3-3.25 per cent.
Though Fed chair Jerome Powell was more hawkish than expected during the central bank’s recent press conference, Goldman Sachs Research still expects policymakers to lower their target rate again this year.
It also expects two 25-basis-point cuts in March and June next year to a terminal rate of 3-3.25 per cent, it said in an insights article on its website.
The FOMC cut its target rate in October for the second time this year, lowering the fed funds rate by 25 basis points to 3.75-4 per cent. The Fed also said it would stop running off its $6.6-trillion balance sheet at the start of December. The principal payments of mortgage backed securities will only be reinvested into Treasury bills.
While most official economic data releases have been suspended by the government shutdown, Powell noted that the available official and alternative indicators suggest that inflation (net of tariff effects) is now close to the 2-per cent target and that the labour market has continued to cool gradually.
The FOMC’s summary of economic projections for September implied that most participants saw a December cut as the baseline, according to Goldman Sachs Research. The Fed’s past packages of risk management cuts (proactive rate cuts to guard against potential risks to the economy) also suggest that a third and final cut is the default.
Labor market data are “unlikely to send a convincingly reassuring message” by the time of the FOMC meeting in December, David Mericle, chief US economist, wrote in the team’s report.
Deferred resignations of government employees instigated by the Department of Government Efficiency are likely to generate a negative payrolls report in October and “weigh a bit on November,” Mericle added.
Fibre2Fashion News Desk (DS)
The package establishes a modern framework for both sides, enabling frictionless access to a market of 460 million consumers in key sectors, delivering economic benefits to both parties.
European Commission President Ursula von der Leyen and Swiss President Guy Parmelin yesterday signed a broad package of agreements aimed at deepening and expanding EU-Switzerland ties.
By aligning standards and rules in closely integrated areas, it will provide legal certainty, simplify trade in goods like medical devices and food products, and ease cross-border supply for businesses on both sides.
By aligning standards and rules in closely integrated areas, it will provide legal certainty, simplify trade in goods like medical devices and food products, and ease cross-border supply for businesses on both sides of the border.
Additionally, it will ensure more consistent rules for individuals who live, work or study across the EU-Swiss border. Switzerland will contribute to the development of legislation in the areas covered by the package and will have the opportunity to influence these rules as they are being designed.
“By modernising and deepening our ties across key sectors, from trade and transport to health and energy—we are strengthening legal certainty, fostering innovation and creating new opportunities for our citizens and businesses,” von der Leyen said in a release from the Commission.
The package includes updates to four already existing agreements, which already give Switzerland access to the EU internal market, regarding air transport, land transport, the free movement of persons and mutual recognition of conformity assessment.
New agreements on food safety, electricity, health and Switzerland’s participation in the EU Agency for the Space Programme were signed. A new agreement introduced a permanent and fair financial contribution by Switzerland to economic and social cohesion within the EU.
Apart from a protocol on parliamentary cooperation, the package includes also a joint declaration on the establishment of a high-level dialogue on the broad bilateral package.
Fibre2Fashion News Desk (DS)
Following earlier increases in purified terephthalic acid (PTA), melt and PSF, Indian producers have now raised PFY prices. POY, FDY and PTY prices have been increased by ****;* per kg across all deniers and lustres with effect from March *, reflecting rapid cost pass-through amid heightened volatility in crude-linked value chains, according to the market sources.
In the previous weekly revision effective February **, ****, PTA was increased by ****;*.** per kg to ****;**.** per kg, while monoethylene glycol (MEG) was retained at ****;**.** per kg. Polyester melt prices were raised by ****;*.** per kg to ****;**.** per kg. Downstream PSF prices were also revised upward by ****;*.** per kg from March *.
Jake Cannavale shares his bit on Bobby Cannavale, Rose Byrne’s viral pet
Judge sets May retrial date in Miami football murder case
Target is making big changes to win back customers. Here’s what shoppers can expect to see
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
Households set for lower energy bills amid price cap shake-up
What are Iran’s ballistic missile capabilities?
-
Business6 days ago
India Us Trade Deal: Fresh look at India-US trade deal? May be ‘rebalanced’ if circumstances change, says Piyush Goyal – The Times of India
-
Business1 week ago
Households set for lower energy bills amid price cap shake-up
-
Politics6 days agoWhat are Iran’s ballistic missile capabilities?
-
Politics7 days agoUS arrests ex-Air Force pilot for ‘training’ Chinese military
-
Business6 days agoAttock Cement’s acquisition approved | The Express Tribune
-
Fashion6 days agoPolicy easing drives Argentina’s garment import surge in 2025
-
Sports1 week agoTop 50 USMNT players of 2026, ranked by club form: USMNT Player Performance Index returns
-
Sports7 days agoSri Lanka’s Shanaka says constant criticism has affected players’ mental health