Weekly Digest – July 24 2024
Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
Economy slowing but not in recession territory
The U.S. economy is likely to slow in the coming months but is not flashing recession signals as it enters the critical 100-day period to the November presidential election.
IRS finalises 10 year rule for retirement withdrawals
The Internal Revenue Service and Treasury Department have released final regulations updating required minimum distribution (RMD) rules for beneficiaries under the 10-year rule.
What does it mean for the economy when businesses grow their inventories?
U.S. businesses added more stock to their inventory in May than most economists had been expecting. The U.S. Census Bureau reported Tuesday business inventories were up 0.5% month-over-month in May.
Fed faces wave of data before deciding on end-of-summer rate cut
Investors have locked onto the U.S. central bank’s Sept. 17-18 meeting for the start of interest rate cuts that Federal Reserve Chair Jerome Powell has said will represent a “consequential” change in policy from the pandemic-era battle against inflation to a phase of easing monetary policy.
Economist who called the 2008 recession shares 5 signs the US is on the brink of a downturn
June’s nonfarm payrolls report may have beaten economists’ expectations with a robust 206,000 jobs added. But don’t bet on a soft landing outcome for the US economy as the Fed gets set to cut rates, says famed economist David Rosenberg.
E-commerce: Just what the air cargo market ordered
Tim van Leeuwen, part of Rotate Consulting, provides his team’s observations on the size and impact of e-commerce on the air cargo market, and how this impacts the near-term outlook.
US firms point to slowing activity and softer labor market, Fed survey shows
U.S. economic activity expanded at a slight to modest pace from late May through early July with firms expecting slower growth ahead as they also reported signs the jobs market continues to soften, in line with the Federal Reserve’s recent pivot to more keenly assessing slowing demand for labor to ensure it doesn’t wait too long before cutting interest rates.
Beige Book
The July 2024 Beige Book has been published by the Federal Reserve, giving an overview of economic conditions around the country.
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