Federal Reserve Governor Christopher Waller shared his view that current monetary policy appears to be sufficiently restrictive to cool inflation back down to the central bank’s 2% target. The market viewed that as another data point for further rate hikes being off the table.
OECD Sees a Deepening Slowdown in Advanced Economies
The latest forecast from the OECD shows the slowdown for the world’s advanced economies deepening in 2024 with global gross domestic product expected to expand only 2.7% next year after an already weak 2.9% in 2023. OECD Chief Economist Clare Lombardelli explains the results.
Reddit Tops the List of Potential 2024 IPO Candidates
Reddit Inc. is reportedly exploring an initial public offering for the social media company as soon as the first quarter of 2024, while Kim Kardashian’s Skims is also weighing options, including an IPO. Dasha Afanasieva reports on Bloomberg Television.
Black Friday shoppers spent a record $9.8 billion online in the US, Adobe Analytics reported, offering a positive sign for retailers facing lackluster sales forecasts for the holiday season. Demand for electronics, smartwatches, TVs and audio equipment helped boost the day’s online sales by 7.5% compared with last year. Bloomberg's Charlie Wells reports.