Monthly Archives: August 2024

A few key words in Fed boss Jerome Powell’s speech signals when interest rates are coming down

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By TILLY ARMSTRONG ASSISTANT CONSUMER EDITOR FOR DAILYMAIL.COM

PUBLISHED: 12:49 EDT, 31 July 2024 | UPDATED: 17:22 EDT, 31 July 2024

The Federal Reserve has held interest rates steady for the sixth consecutive time, but hinted it is closer to cuts. 

Fed Chair Jerome Powell said an interest rate cut could be possible next month, and the central bank made notable changes to its policy statement, indicating that inflation is getting closer to its 2 percent target.

Stocks rallied following the announcement, in good news for American 401(K) accounts.

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WHY MICROSOFT’S EARNINGS MISS WON’T STALL THE A.I. BOOM

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Investors are worried about how much companies are spending on artificial intelligence, but the tech giant is sure that its efforts will pay off.

By Andrew Ross SorkinRavi MattuBernhard WarnerSarah KesslerMichael J. de la MercedLauren Hirsch and Ephrat Livni

July 31, 2024

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Satya Nadella, Microsoft’s C.E.O., holds a hand under his chin as he listens to another speaker.
Satya Nadella, Microsoft’s C.E.O., said heavy spending on artificial intelligence was justified given the potential payoff, even if it may take years to turn into profits.Credit…Erin Schaff/The New York Times