Ray Dalio Says Fed Should Not Cut Rates Now
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Fed minutes: Most officials worried about inflation moving higher
WASHINGTON (AP) — Most Federal Reserve officials said last month that the threat of higher inflation was a greater concern than the potential for job losses, leading the central bank to keep its key rate unchanged. According to the minutes of the July 29-30 meeting, released Wednesday, members of the Fed's interest-rate setting committee 'assessed that the effects of higher tariffs had become more apparent in the prices of some goods but that their overall effects on economic activity and inflation remained to be seen.' The minutes underscored the reluctance among the majority of the Fed's 19 policymakers to reduce the central bank's short-term interest rate until they get a clearer sense of the impact of President Donald Trump's sweeping tariffs on inflation. So far inflation has crept up in the past couple of months but hasn't risen as much as many economists feared when Trump unveiled some of his duties. The Fed left its key interest rate unchanged last month at about 4.3%, though two members of its governing board dissented in favor of a rate cut. Both dissenters — Christopher Waller and Michelle Bowman — were appointed to the board during Trump's first term. At a news conference after the meeting, Chair Jerome Powell signaled that it might take significant additional time for the Fed to determine whether Trump's sweeping tariffs are boosting inflation. When the Fed changes its rate, it often — though not always — affects borrowing costs for mortgages, auto loans, and credit cards. The Fed typically keeps its rate high, or raises it, to cool borrowing and spending and combat inflation. It often cuts its rate to bolster the economy and hiring when growth is cooling. Christopher Rugaber, The Associated Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
Jackson Hole: What to know about the economic symposium
The Kansas City Federal Reserve's Jackson Hole Economic Symposium is underway, with investors watching for any signs about the Fed's next move. Yahoo Finance Markets and Data Editor Jared Blikre, who also hosts Yahoo Finance's Stocks in Translation podcast, outlines everything you need to know about the annual meeting. Catch more Stocks in Translation, with new episodes every Tuesday and Thursday. To watch more expert insights and analysis on the latest market action, check out more Market Catalysts. Related videos Why the Dubai dream is dead for 'arrogant' British workers Reeves eyes property tax raid on the wealthy I just bought more of this world-class FTSE 100 stock while it's down 24% Time for me to buy more of this superb 8.3%-yielding FTSE 100 passive income superstar stock after strong H1 results? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17 minutes ago
- Yahoo
Walmart earnings expected to show US sales growth continued in Q2 as consumers seek value
Walmart (WMT) is expected to post another robust quarter as consumers likely turned to the big box retailer's low-price strategy as tariff-related uncertainty pushed consumers to more carefully scrutinize their household budgets. Total US same-store sales are expected to grow 4.2%, which includes both Walmart US and its wholesale subscription business, Sam's Club, per Bloomberg consensus estimates. Wall Street expects Walmart US same-store sales growth to increase 4.05%, driven by higher foot traffic, ticket size traffic, and e-commerce. Sam's Club is expected to drive growth, with sales forecast to rise 5.3%. Gains in grocery, improvement in select nondiscretionary categories, progress on e-commerce and marketplace, as well as "gains from rollbacks and selective promotions" will benefit the results, Telsey Advisory Group analyst Joe Feldman said in a note to clients. "We also anticipate continued increases in share of wallet across all income cohorts, including upper-income households," Feldman added. Revenue is expected to clock in at $176.05 million, alongside adjusted earnings of $0.74. Investors will also be looking for further commentary around tariffs after the company said it would have to raise prices earlier this year. Read more: 5 ways to tariff-proof your finances Walmart CEO Doug McMillon told analysts in May, "We aren't able to absorb all the pressure given the reality of narrow retail margins." He added that tariffs had already led to price increases in April and May. At the time, McMillon said the "reset of costs" would continue throughout the year, adding that for an imported item, "You pay the tariff at the time it comes through customs ... even if the tariff rate comes down later, the cost has been elevated." Robert Ohmes of Bank of America estimated Walmart imports roughly 15% of its US sales from China. Around 60% of the US sales are groceries, which are largely tariff-exempt if they're produced domestically or in Mexico and Canada. Ahead of this report, Ohmes said the retailer is "well positioned to manage tariffs given its scale with suppliers, advanced pricing, automation, and inventory management." Year to date, shares of Walmart are up 12%, compared to the S&P 500's (^GSPC) 9% gain. Brooke DiPalma is a senior reporter for Yahoo Finance. Follow her on X at @BrookeDiPalma or email her at bdipalma@ Click here for all of the latest retail stock news and events to better inform your investing strategy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
