Malaysian Bar tells court it has statutory obligation to uphold cause of justice in bid to challenge AG over Ahmad Zahid’s DNAA in Yayasan Akalbudi case
The solid labour market, recent reading showing sticky inflation, and comments from Fed officials, including Chair Jerome Powell, have led markets to back off expectations the central bank would cut interest rates by at least 25 basis points at its June meeting.“I wouldn't be surprised if we go through a fall or spring where it's an air pocket for a while,” said Richard Alt, Principal and CEO at Carnegie Investment Counsel in Cleveland, Ohio, referring to a drop in stock prices.
Comments on Thursday from Fed officials reiterated the lack of urgency to lower rates, as New York Federal Reserve President John Williams cited the robust economy while Atlanta Federal Reserve President Raphael Bostic said he is “comfortable being patient” as inflation is returning to the Fed's 2 per cent target more slowly than expected.
Earnings season continued to pick up steam with Genuine Parts surging 11.22 per cent as the top percentage gainer on the S&P, after the automotive parts distributor raised its 2024 profit forecast.