Fed’s Cook Sees Signs Inflation Is Easing but Says It’s Still Too High
Federal Reserve Governor Lisa Cook highlighted a variety signs of easing inflationary pressures, including decelerating wage gains.
Bloomberg Business
CLO Managers Face Trading Crunch in Downturn
In what’s already likely to be a tough year for the $1.4 trillion leveraged loan market, the biggest buyers of those loans now face an extra hurdle: time limits on their ability to freely reinvest their money.
Fed Seen Leaning Toward Smaller Hikes After Wage Gains Cool
(Bloomberg) — Federal Reserve officials meeting later this month are expected to look more kindly on another stepdown in their aggressive campaign of interest-rate increases after wage growth cooled in December.
South Africa’s Ruling Party Wants to Expand Central Bank Mandate
South Africa’s governing party wants the central bank’s mandate broadened to shore up the economy and promote employment in addition to its existing task of targeting inflation. The rand fell.
What South Africa’s ANC Decided at Its National Conference
South Africa’s governing party concluded a five-yearly gathering Friday to fine-tune its policies and adopt new ones, with electricity shortages, welfare grants, the central bank’s mandate and the management of state companies among the items on its agenda.
Whole Foods Touts New Leaner Chicken in Nod to Welfare Concerns
Whole Foods Markets are introducing poultry breeds to their merchandise lineup that meet new welfare standards amid growing concern about the treatment of animals.
NYC Subway Crime Jumps 30%, Defying Surge in Police Patrols
New York City’s subway crime rose by 30% in 2022 from a year ago, outpacing the 22% jump in major crimes across the city during the same period, according to police data released this week.
California Rain Brings Limited Relief to Dried-Out Almond Farms
Usually, bouts of rain are a good thing for drought-stricken farmers. But in California, where a downpour has triggered widespread flooding, much of the water will end up in the sea rather than helping crops, like the state’s famed almond groves.
Total Cuts Power Prices for Small Businesses After Macron’s Request
France’s TotalEnergies SE will cut power prices for very small businesses, bowing to President Emmanuel Macron’s demand that “excessive” contracts already signed be renegotiated.
US Services Gauge Shrinks Unexpectedly in Worst Slide Since 2020
A US services gauge unexpectedly shrank at the end of 2022, with steep declines in measures of business activity and orders that, if sustained, risk heightening concerns about the demand outlook.
