Federal Reserve Governor Lisa Cook will file a lawsuit to prevent President Donald Trump from firing her, a lawyer for the embattled central bank official said on Tuesday, kicking off what could be a protracted legal fight over the White House's effort to shape U.S. monetary policy. "His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action," Cook's lawyer, prominent Washington attorney Abbe Lowell, said in a statement. The statement was issued a day after Trump said he would fire Cook, the...
The number of Americans filing claims for unemployment benefits rose to 221,000 in the week ending Nov. 3, 2024. That was above the 223 estimate and up from the previous weekly reading of 218, the Labor Department said on Thursday. Source: @Newsmaker23
Economic activity in the US services sector accelerated in October, with the ISM Services PMI rising to 56 from 54.9 in September. This was higher than the market forecast of 53.8. Other details from the report showed that the Prices Paid Index, a component of inflation, edged down to 58.1 from 59.4, while the Employment Index improved to 53 from 48.1. Assessing the survey findings, "concerns over political uncertainty were again more prominent than in the previous month," said Steve Miller, Chair of the Institute for Supply Management's (ISM) Services Business Survey Committee. "The...
The business activity in the US manufacturing sector continued to contract at an accelerating pace in October, with the ISM Manufacturing PMI falling to 46.5 from 47.2 in September. This reading came in below the market expectation of 47.6. The Employment Index of the PMI survey edged slightly higher to 44.4 from 43.9 in the same period and the Prices Paid Index rose sharply to 54.8 from 48.3. Finally, the New Orders Index improved to 47.1 from 46.1. Source: Fxstreet
US hiring advanced at the slowest pace since 2020 in October while the unemployment rate held at a low level in a month distorted by severe hurricanes and a major strike. Nonfarm payrolls increased 12,000 last month, following a downward revision to the prior two months. The unemployment rate held at 4.1% and hourly earnings remained firm, according to Bureau of Labor Statistics' figures released Friday. Economists had warned the Boeing Co. strike as well as the two powerful hurricanes — Helene and Milton — that hit the Southeast in late September and early October...
Menurut Biro Statistik Tenaga Kerja AS pada hari Jumat (1/11), nonfarm payrolls AS (penggajian non-pertanian) hanya menambahkan sebanyak 12K pada bulan Oktober pasca kenaikan luar biasa sebesar 223K pada bulan September.
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...