US Small-Business Optimism Drops on Outlook for Economy, Credit

-- US small-business optimism dropped to a four-month low in September, reflecting worsening expectations for the economy and credit conditions.Xi’s Reply to Hamas Attack Shows China’s Limit as Peacemaker

The Federal Reserve has hiked interest rates to the highest level since the early 2000s to tame persistent inflation. Officials have reiterated the need to keep borrowing costs higher for longer, triggering a recent selloff in the bond market.One in 10 firms on net expect worse credit conditions in the next three months, matching the highest share since 2012.

Respondents to the NFIB survey continued to rank inflation and labor quality among their single-most important problems. The share of small businesses who raised selling prices rose for a second month in September, marking the first back-to-back increase since early 2022.“Owners remain pessimistic about future business conditions, which has contributed to the low optimism they have regarding the economy,” said NFIB Chief Economist Bill Dunkelberg.

-- Argentina’s central bank board plans to keep its benchmark interest rate unchanged Thursday despite inflation data hovering around a three-decade high, two officials with direct knowledge of the matter said.

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