By CHRISTOPHER RUGABER
WASHINGTON (AP) — No one knows how Tuesday’s presidential election will turn out, but the Federal Reserve’s move two days later is much easier to predict: With inflation continuing to cool, the Fed is set to cut interest rates for a second time this year.
For the first time in four years, the Federal Reserve’s benchmark, short-term rate was scaled back by a half percentage point. The previous 23-year high remained stagnant since July 2023 until September’s meeting,
Unemployment is tipped to edge up to 4.5 per cent by late 2025, from 4.1 per cent now, while household consumption – which went backwards in the June quarter – is expected to remain soft. Much of the stage 3 tax cuts, which some economists feared would push up inflation, are forecast to be saved while consumers are changing their shopping habits to seek out bargains.
» Read more about: Reserve Bank holds course on interest rates »
While some state land tenders this year drew a lukewarm response, the tender by the Housing and Development Board (HDB) for the 99-year leasehold executive condominium (EC) site that can yield some 560 homes in Tampines Street 95 drew five bidders and a top bid by Sim Lian of S$465 million or around S$768 per square foot per plot ratio (psf ppr).
» Read more about: Release more exec condo sites to meet bullish demand »
» Read more about: Trade War? Tariffs? How a Trump Election Would Change Tech »
Vietnam is among several Southeast Asian countries that have benefited from the ongoing United States-China trade war. The country has seen a surge in foreign investments as more companies, seeking to avoid US tariffs on goods from China, choose to relocate there. With the US set to elect a new president, can Vietnam maintain its winning streak?
» Read more about: Vietnam benefits from US-China trade war with surge in foreign investments »
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The election this year is being called one of the most consequential contests in US history and it will have a very significant impact on the world too. Here’s why.
This is one of the leading reasons for the current global fragmentation.
» Read more about: Opinion | US Elections: What New POTUS Would Mean For War, Immigration »
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» Read more about: Massive News for Nvidia Stock and Intel Stock Investors »
Whether your preferred cliche is “talk about buying high” or “better late than never,” Nvidia (NVDA) will at long last replace Intel (INTC) in the Dow Jones Industrial Average.
Oh, and by the way, Dow (DOW) is getting the boot too.
» Read more about: Nvidia Stock Is Joining the Dow. Is It Time to Buy? »