Minneapolis Fed President Neel Kashkari said he didn’t support the US central bank’s last interest-rate cut, though he’s still undecided on the best course of action for its December policy meeting. “The anecdotal evidence and the data we got just implied to me underlying resilience in economic activity, more than I had expected,” Kashkari said Thursday in an interview with Bloomberg News. That, he said, argued for a pause to rate cuts at the Fed’s October meeting. Kashkari joins a slew of Fed officials who have in recent days expressed skepticism over the need for another cut in December, or outright opposed one.
Sources tell Bloomberg UK Chancellor of the Exchequer Rachel Reeves has been able to drop plans to raise income taxes because she received an improved fiscal forecast from the UK’s budget watchdog. The latest update from the Office for Budget Responsibility moved in a significantly more favorable direction due to the strength of government receipts and stronger wage performance, the people said, asking not to be named discussing sensitive matters. A fiscal hole predicted to be as wide as £35 billion is in fact now closer to £20 billion, sources said. Major tax rises are still expected to fill the remaining hole in the public finances, they added.
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse
00:02:09 – Reeves drops plans to raise income tax rates amid Labour unease
00:05:18 – Mohit Kumar, Jefferies Chief Europe Economist
00:09:14 – Fed doubts grow over december rate cut
00:15:51 – Ana Botin, Banco Santander Executive Chair
00:16:46 – Kyriakos Pierrakakis, Greek Finance Minister
00:25:11 – Friday headlines
00:25:40 – Latest UK fiscal forecast puts gap at £20B: Reports
00:26:51 – Richemont sales climb on stronger demand from US, China
00:31:37 – Citi CEO Jane Fraser on US labor market
00:34:06 – Jackie Ineke, Spring Investments CIO
00:41:29 – Franklin Templeton CEO Jenny Johnson on "Leaders with Francine Lacqua"
00:43:13 – Richard Moore: Life in the intelligence shadows
00:45:49 – Friday top stories
00:47:04 – Reeves U-Turns on Tax Raises Because of Better UK Forecasts
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More on Bloomberg Television and Markets
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