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)
CBP is developing the Consolidated Administration and Processing of Entries (CAPE) functionality within the Automated Commercial Environment (ACE) to streamline the submission and processing of valid refund requests for duties imposed under the International Emergency Economic Powers Act (IEEPA), as authorised by court order or applicable law.
US Customs and Border Protection will launch on April 20 an electronic system that importers can use to claim tariff refunds authorised by court order or applicable law.
Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.
Refunds will be issued within 60-90 days of the Consolidated Administration and Processing of Entries declaration getting accepted.
Phase 1 will be limited to certain unliquidated entries and certain entries within 80 days of liquidation.
CAPE is designed to consolidate refunds of IEEPA duties including interest rather than processing refunds on an entry-by-entry basis.
CBP plans to implement CAPE through a phased development approach, adding more functionality in subsequent phases for more complicated scenarios, it said in a release.
Valid IEEPA refunds will generally be issued within 60-90 days following acceptance of the CAPE declaration, unless a compliance concern requires further CBP review.
However, certain scenarios, such as entries that are extended, suspended or under review, and warehouse entries, will maintain their liquidation status with validated refunds issued at liquidation.
Fibre2Fashion News Desk (DS)
Named in honor of Gap Inc. co-founder Doris Fisher, the program reflects her legacy of creativity, curiosity, and belief in people. It also builds on Gap Inc.’s commitment to helping bridge the opportunity gap by creating stronger connections between education and careers in the fashion industry.
Gap Inc., led by Richard Dickson, has launched The Doris Fisher Creators Program with the Fashion Institute of Technology to mentor students in fashion careers.
Starting Fall 2026, the programme will offer structured mentorship, industry exposure, and networking for select students, honouring Doris Fisher and strengthening pathways from education to careers.
“Gap Inc. is a house of iconic American brands guided by our purpose — to bridge gaps to create a better world. That includes bridging the opportunity gap. FIT embodies that same spirit, bringing education and industry together to unlock talent and expand what’s possible. We’re committed to opening doors, investing in emerging creatives, and building meaningful pathways into this industry for the next generation,” said Dickson.
The Doris Fisher Creators Program will connect FIT students with Gap Inc. leaders and creatives through a structured mentorship experience designed to provide exposure to the business of fashion, industry insights, and meaningful professional connection.
The program will launch in Fall 2026 and run through the academic year, and the inaugural cohort will include students from select disciplines, including Fashion Design, Graphic Design (Apparel), and Fabric Styling.
“Supporting emerging talent is a core expression of Gap Inc.’s purpose in action. Through initiatives such as The Doris Fisher Creators Program — alongside This Way ONward, the Rotational Management Program, and our broader internship and mentorship efforts — the company continues to bridge the opportunity gap for young people looking to start meaningful careers in fashion and retail,” added Amy Thompson, Chief People Officer at Gap Inc.
“We are incredibly proud to be the first public college to partner with Gap Inc. on this groundbreaking mentorship program. This remarkable opportunity with one of the world’s most iconic brands will support 30 talented FIT students over the next year, placing them at the intersection of innovation and impact,” said Jason S. Schupbach, president of FIT.
A benefit for the FIT Foundation, this year’s FIT Annual Gala honored Gap Inc. President & CEO Richard Dickson and was attended by distinguished guests and alumni including Ciara, Aloe Blacc, Zac Posen, Bob Fisher and others.
The FIT Foundation provided scholarships totaling more than $3 million in 2025.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
The increase was driven largely by energy prices, as declines in regulated and non-regulated energy products eased significantly. In contrast, inflation in services slowed, Istat said in a press release.
Italy’s inflation rose to 1.7 per cent year on year in March 2026, driven by higher energy, according to Istat. Monthly inflation stood at 0.5 per cent.
Core inflation eased to 1.9 per cent, while services inflation slowed.
The HICP increased 1.6 per cent annually, with lower-income households experiencing relatively smaller price rises than higher-spending groups.
Core inflation, which excludes energy and unprocessed food, moderated to 1.9 per cent from 2.4 per cent, while inflation excluding energy eased to 2.1 per cent.
On a yearly basis, goods prices rose 0.8 per cent compared with a slight decline in the previous month, while services inflation slowed to 2.8 per cent from 3.6 per cent. This narrowed the inflation gap between services and goods.
On a monthly basis, the rise in the index was mainly led by increases in regulated energy prices, up 8.5 per cent, and non-regulated energy prices, up 5 per cent, along with gains transport services.
The harmonised index of consumer prices (HICP) rose 1.7 per cent MoM and 1.6 per cent YoY, slightly above the earlier estimate. In the first quarter, inflation remained lower for households with weaker spending capacity compared with higher-spending households.
Fibre2Fashion News Desk (SG)
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